How To Find Lease Deals

Finding the best lease deals on new cars requires research, know where to look, and careful comparison.

Here's a step-by-step guide to help you find the most attractive lease offers:

1. Determine Your Budget:

   • Before you start shopping for lease deals, establish a realistic budget that includes monthly payments, and an estimated down payment. Use our Lease Payment Estimator to determine what price vehicle converts to a monhtly payment you can afford.

2. Decide What You Want:

   • Start by deciding if you want a specific vehicle brand and model (which lessens your search efforts and time), or are you flexible and are willing to accept almost any model as long as it is the best deal.

3. Check Manufacturer Websites:

   • Visit the official websites of car manufacturers. Manufacturers often feature current lease deals and special promotions on their websites. They typically show information about lease terms, monthly payments, down payment, mileage restrictions, and lease duration. Note: Manufacturer "special deals" might not be so special. We'll show you how to evaluate such deals with our Lease Deal Calculator.

4. Explore Dealership Offers:

   • Contact local dealerships and inquire about their current lease promotions. Many dealerships offer lease deals on a variety of models, and they may have exclusive offers that are not available through the manufacturer's website. Note: Just because a dealer says his deals are "special" doesn't make it so. All such deals should be negotiated and not accepted at first offer.

5. Use Online Car Marketplaces:

   • Utilize online car marketplaces, such as Autotrader, Cars.com, or Edmunds, to search for lease deals in your area. These platforms often show lease offers from various dealerships, making it easier to compare deals. Note: You'll have to enter you name and contact information before they wll show you the deals.

6. Consider Multiple Dealerships:

   • Don't limit yourself to just one dealership. Use telephone and email to contact several dealerships that sell the car you want, even if they are located out of town. Compare the lease offers, including monthly payments, down payment requirements, and lease terms. Note: Comparing and evaluating multiple lease deals is easy using our Lease Deal Calculator.

7. Negotiate the Deal:

   • Once you've identified a lease deal that interests you, it's essential to negotiate with the dealership. Be prepared to discuss the terms, including the vehicle price, interest rate, monthly payment, down payment, and any fees.

   • Ask for a breakdown of the fees and added costs associated with the lease, including acquisition fees, disposition fees, and any other charges.

   • Inquire about the residual value of the vehicle, as this affects the lease's overall cost. A higher residual value typically results in lower monthly payments.

   • Although you can possibly choose the length of the lease and mileage limit, the ONLY major factor that you can actually negotiate is the PRICE of the vehicle.

   • Note: Do NOT negotiate the monthly payment unless you understand and agree with the actual factors of the lease: price, fees, finance rate (money factor), residual value, mileage limit, overmilage fee, and taxes.

   • Use our Lease Payment Calculator to help you understand how vehicle price and the other factors will affect the monthly payment.

8. Check for Manufacturer Incentives:

   • Watch for manufacturer incentives, rebates, or special discounts. These can significantly reduce the vehicle's cost, which can result in an attractive lease deal. There can be incentives for specific models, military personnel, recent college graduates, or loyalty to their brand. Note: Although rebates and incentives can often make for good lease deals, that is not a guarantee. As always, the deal should be evaluated on its terms using the calculators on this LeaseGuide website.

9. Consider Timing:

   • Timing can impact the deals available. Dealerships and manufacturers may offer better incentives and lease deals during certain times of the year, such as year-end clearance events or holiday sales. Good deals can be made on previous year's models at the time new models come out, which can be any time of the year.

10. Review Your Deal's Lease Terms:

    • Carefully review all the terms and conditions of the lease agreement before signing. Pay attention to mileage limits, wear and tear guidelines, and any penalties for early termination or excess mileage. A low mileage limit, for example, can make a good deal -- but might be too low for your driving habits.

    • Avoid buying add-on features such as extended warranties (you don't need them with a lease), paint sealant, fabric protection, insurance, and other unnecessary purchases. Jsut say no.

    • Before signing, use our Lease Calculator to check a dealer's numbers and payment figure. Your results should closely match the dealer's. If not, there may be hidden charges that have not be disclosed to you.

By following these steps and being diligent in your research and negotiations, you can increase your chances of getting the best lease deals on new cars that align with your budget and preferences. Remember that patience and careful consideration are key to securing a good lease deal.