Lease question

squad008

Here is some help from someone that just leased one. I lease a 2013 touring with nave and sport and pay $438 a month with $3438 down which included first months payment, taxes, title, license, dealer fees.

If you have the top of the line credit you can technically get the car for cheaper than the listed price, but this rarely happens.

Here's the best way to do this:
1. Don't tell the dealer you are going to lease and negotiate a buy price on the vehicle, check truecar.com for a rough range of what you are going to pay.
2. Know that on a 12k lease the residual is 59% (of MSRP) and .0014 which is really 3.36% interest.
3. There is 1k lease cash (DO NOT I REPEAT DO NOT let the dealer tell you that your negotiated buy price included this $1k, that is why you negotiate the buy price first.)
4. Get the dealer fees and title and license fees up front
5. Download a lease calculator on your phone, and there you go, you will know if your getting ripped off or if you are in the range.

Realistically the pricing is really based on how hard the car is to get. IF they have the car on the lot you probably will get it cheaper.

Anyway, I used a program called auto lease calculator- simple for android it was free in the marketplace. These are the variables:

1. Vehicle Price (the price you negotiated)
2. Down Payment (this does not include Title License or Dealer Fees but should include tax, any first months payment, and make sure to add $1k for lease incentive).
3. Sales tax
4. Intrerest rate take your money factor and multiply by 2400
5. Loan Term
6. Residual Value (should be 59% @ MSRP not your buy value)

Hope that helps. Technically the $300 you see on the website was if you leased it at MSRP I think. Therefore the title license and dealer fees should at least be negated if you negotiate the buy rate.

GL Hope that helped