Before you sign a car lease, you need to check first if the terms and conditions are good enough. You don’t want to start a deal if you think it’s not fair. You might end up spending a lot each month and it won’t make you satisfied.
The good thing is that just like buying a new car, you can also negotiate the terms if you lease a car. You can talk to the dealer first so that you can agree on every detail.
Reduced bond
The first thing you can negotiate is the bond. You need to give an amount that serves as a deposit at the beginning of the deal. You will get it back once the lease is over. However, if you don’t have enough savings, this amount might be too much for you. Therefore, you need to ask for a reduced fee so you can get started.
Increased mileage
Another downside of car leasing is that you have to limit your car usage. If you go beyond the allowed mileage limit, you will pay for the excess miles. If you’re only using the vehicle for basic activities like going to school or work, it won’t be a problem. Despite that, you still have to negotiate this aspect. You don’t want to end up paying the excess fees later because you used the car more frequently or for longer distances than you first thought.
Change the payment date
Your salary date might not synchronize with the due date for your monthly bills. You can negotiate this part too, so you can synchronize the due date with the arrival of your salary. You might end up with penalties and other charges if you fail to pay bills on time. It’s a reasonable request and most dealers would probably agree to it.
Same rate for a slightly better model
If there’s a car model which is similar to the one that you’re looking at, but you think is better, you can try to negotiate with the dealer. Perhaps, you will have the chance to get a better-quality car for the same monthly fee or only slightly higher. Of course, you need to check if there’s a need to upgrade to that model. If the other one is good enough, you should settle for it.
Length of contract
Depending on the car model, there might be a minimum number of months that you need to lease the car. It’s a fair request considering that the vehicle immediately depreciates the moment it hits the road. However, if you think the contract is too long, you can request a few months less. You might have other plans by that point, so you won’t want to continue paying for the same vehicle.
As long as you’re asking nicely and the requests are reasonable enough, you will get what you need. Let your dealer know all these requests before signing any documents for personal car lease deals.
