Should I shoot for a certain % over invoice for a lease? . . .
10-02-2002, 10:12 AM
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Should I shoot for a certain % over invoice for a lease? . . .
3-5% or does it not matter all that much for my monthly payments Since the price is risidualized anyways?
10-02-2002, 10:16 AM
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You absolutely should!
The residual is based on the MSRP of the car. Every dollar that is the difference between the MSRP and the selling price lowers the total cost of the lease.<ul><li><a href="http://www.edmunds.com/finance/leasing/index.html?id=lin9147">Edmunds Leasing Basics</a></li></ul>
10-02-2002, 11:23 AM
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It is difficult to suggest a particular number.
A lot depends on the kind of vehicle and equipment you are looking to get, the demand in your area, vehicle availability at the dealers. I suggest you narrow down the exact car you are looking for and call a few dealers in the area. See if they have something close to what you want and ask them to quote you a price. It is difficult to find an exact combination sometimes. You dont have to tell them right away if you are leasing it or not. See what they say. Alternately you can go to a dealer and agree on a hypothetical car and an amount over invoice and have the dealer locate it. 3% is a little low, but is possible. Thats only $900 on a 30K car. 5-6% is more reasonable for a high-demand combination. Use edmunds.com for an estimated fare market value for your area.
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