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How to Negotiate a Car Lease Like a PRO in 2020

what's up guys nom here if you knew this

channel here are typically talking about

personal finance and investing and

today's topic we're gonna be talking

about how to negotiate a car lease like

a pro but seriously why would you want

to listen to me I'm not a car salesman

nor broker I'm just a regular dude who

knows how to research and lay down the

facts to get the best deals in a video

I've made not too long ago I talked

about how I was able to get a one

percent lease on my Acura RDX I'll link

it in the description below so in that

video I show how I was able to get a

thirty seven thousand dollar car for a

monthly payment of around three hundred

and four dollars a month with no money

down but what this video is gonna be

focusing on is that negotiation part and

how to get the best price for your lease

let's get into it there are two things

that go into negotiating a car lease the

research and the actual negotiation so

let's go over the first part this is

probably gonna be the most important

thing to take away from this video and

this is the research you want to spend

around 80% of your time researching the

deals don't expect to go up to a car

dealership and expect to lease a car for

whatever you think sounds right

negotiation is a verbal dance that you

play back and forth where both parties

meets at a mutual agreement not all car

salesman's or scums or sharks there are

a handful of car salesmen that brutally

honest and they'll tell you the best

price that they can give you you want to

save as much money as you want to and

they want to make as much money as they

can so if you look at it this way as a

customer if you have not done the

research and know what's a fair price

you have no leverage in a negotiation as

a car salesman they know their numbers

they know how much they bought the car

for and they know how much they have to

sell it for to make it a profitable

business but you might be asking

yourself but what do our research this

is the exact order that I take or

researching at Carly's I focus on what

others are getting to know what others

are getting you need to jump into car

forms like Edmunds or lease hacker

before I even start looking into what

car should get I like to look at what

other cars or people are releasing the

reason why I look at what other deals

people are getting is that gives me a

baseline to work off of say I decided I

wanted to lease a lexus rx350 if

nobody's are leasing those cars and

talking about it then most likely these

cars are not really leasing too well or

to show off the deals so you want to

find a great deal usually one

see what somebody has already gotten

it's gonna be that much easier to copy

that deal at other dealerships when

you're looking at other people's deals

you really have to look at where they

got the deal because living in Southern

California I can lease a car for a

completely different price compared to

someone who lives in Washington lease

deals can be completely regional after

that I like to look at the terms of the

lease just because somebody post their

deals you really have to double check to

work

it's like blindly investing into

something that you have no clue about

the main thing I look into other

people's deals is their terms and the

money down because some deals look great

when the terms of three years and

seventy five hundred miles of the year

the ideal terms outlook for usually

three years and a minimum of twelve

thousand miles per year and I typically

look for zero money down and drive off

fees I like to have everything loaded

into the lease because you can put as

much money down as you want to in at

lease to get a monthly payment that

you're happy with but it's really gonna

be difficult to compare other deals

another reason why I don't like to put

money down is that in case if you get in

a car accident or the car stolen or

totaled the money that you put into it

it's completely lost yes you're gonna be

saving a little bit of money on a down

payment if you put money down but the

risk outweighs the benefits for me the

last thing you want to look at when

comparing other people's deals is the

package of the car what I mean here is

each car has different models within a

particular model for instance say the

Honda Civic it has the LX model the e.x

model the exei model and so forth from

what I found

I usually found the base model of cars

separately to have the best deals so

it's really up to you to figure out what

really matters to you is it the price or

the features of the car for me is

usually the price after researching what

deals or other people are getting I then

look at the rebates for the cars there

will be manufacturer rebates which can

be applied to all dealerships and there

will be dealerships that have their own

rebates on their own cars as well so to

look for rebates I usually go to the

manufacturers website so they typically

lists a section where they have deals

and rebates and they show you what's

available for each model majority of the

time when you're looking at other

people's deals this typically lists out

what rebates or discounts that they

apply to the price there also be rebates

for people who are members to different

things like Costco Triple A or the

military so depending on where you work

or what memberships you

part of you may have personnel rebase

just for you the last part is to

research the numbers what I mean about

knowing your numbers specifically is the

MSRP and the residual value of the car

these numbers usually play the biggest

role when factoring a lease

these two numbers are important because

when banks are looking to give out

leases these are what they're looking at

the residual value of a car is typically

what a percentage of a car will be worth

after the terms of the lease so say you

look at a car and it has a residual

value of 60% after three years this

means that if you have a car that costs

$30,000 after three years will be worth

$18,000 you want to negotiate a car

price as close as possible to the

residual value because the difference

between the price that you pay for and

the residual value will be your monthly

payments over the term of your lease so

the best car leases will have high

residual value and lots of discounts

this is the key to getting the best deal

so just on research alone I typically

spend about a month researching before I

actually negotiate the deals to each

dieudonné some people can spend much

longer or some people would just spend a

few weeks or a few days when researching

a deal so after I've done the research I

start emailing a bunch of local

dealerships to get a quote I strictly do

all my negotiation online and through

tax the reason why I do this is because

it's the most efficient way to get the

best deal because when you step foot

into a car dealership you're in a room

full of sharks you're playing into their

home court car salesman they do this day

in and day out unless you are very

skilled negotiator or a car salesman

yourself they usually have the upper

hand

they have little tips and tricks to keep

you longer to wait you out and give you

a time restraint to purchase the car as

much as I know about negotiating car

deals some of these tricks can even make

me Kevin so knowing that much about

myself I usually like to play in my home

court which is the office or my couch

another reason not to go to a car

dealership to negotiate is because it's

a big waste of time time is freaking

valuable and spending hours upon hours

at each dealership to get the best price

is a big waste of time for me the last

car lease I did I did it purely online

and email and through an app even though

they had my phone number and they would

keep calling me to get me on the phone I

would ignore the calls and strictly just

contact

via email another reason what

communicating via email is so beneficial

to you is that you have the time to

think about your next action whether or

not you want to ask for a lower price or

more add-ons this doesn't give you the

time restraint as it would if you were

at a car dealership so when I my first

email I simply get straight to the point

I'm gonna mark it for blank car I'm

looking for at least with these terms

say 12,000 miles for 36 months and this

is the model of the car I'm looking for

I also say I'm willing to send a paper

today if I could find the seller or the

best price of course only do this when

you're willing to buy I don't start

negotiating the prices recent advance

four days in advance I only do it right

when I'm ready to sign the paperwork

there's no point in wasting your time or

other people's time if you're not ready

to sign the lease so the more specific

you can be in the email about the terms

of the lease that you're looking for you

will typically get the best response

without emailing them back and forth for

information similar over the time you

may get an email telling you you have to

come in so they could check your credit

to see what you qualify for

of course your credit does play a role

when you get a lease but they can always

give you a bar park number of close

enough of what you can qualify for also

when you email them make sure you

include a model number of the car from

the dealer's website like I said

previously the more specific you can't

be in the email the easier it is for

them to give you a quote instead of

telling you to come into the dealership

so you can test drive because we have

multiple models to go on and go on to

try to sell you so don't listen to all

that BS so just be specific and it will

be better off for you to save more time

so quick summary in the email telling me

terms the model number of the car

whether or not you have any specific

rebates that apply to you such as if

you're in the military or recent college

graduate and always get that out the

door price this includes tax and

drive-off fees because the last thing

you want to do is go to a dealership and

have a surprise of all these fees and

costs that you didn't know about so now

I won't be going over some negotiation

tips that you can use while trying to

get the best deals on a lease first the

foremost be respectable these are people

too and you need to make it living you

want to get the best price and they want

to sell at the best price the worst

thing you can do is to be

complete jerk or a douche save some face

and kill them with kindness people are

more willing to work with you when

you're calm and respectable it's really

up to you if you really want it throw in

price for your first email for example

if you found a great deal just email

them the numbers to the dealership and

see if they can copy that so in this

case the dealership can either copy it

or offer you a completely different

number another option is to throw in a

number much lower than the asking price

to see how much are they willing to

budge then from there you could throw in

a copy of another person's deal when

buying a car you don't want to be

focusing on the car payment but when

you're leasing a car that's what you

want to be focusing on I have seen

people get great deals on cars and car

leases but get completely screw over

when it comes down to add-ons you do not

need protect the packages or anything

else that they're trying to upsell you

towards the end of the negotiation the

only thing that I'll consider buying is

the wear and tear insurance there's been

many horror stories that when it comes

time to turn in a lease people have been

thing for ridiculous wear and tear fees

at the end even the wear and tear

protection is usually negotiable it's

really up to you you want consider or

not if negotiation and working with

other people is not your forte the next

best bet is to work with a broker so

these are people or apps I own a

business that specializes in negotiating

car deals or already have a pre

negotiated car deal so you can usually

find car brokers from word-of-mouth on

forums on forms like lease hacker just a

whole section of brokers and car

salesmen to advertise their deals and a

lot of times the brokers and salesman's

typically post the best deals that they

possibly can get another thing to do is

to also contact people who have gone

deals from them as well that's another

way of researching prices and your

negotiation power on these forums you

can also contact the people have gone

deals from these salesmen or brokers as

well apps that I've used in the past

there's an app called roto which used to

be called honker before you can sign up

for the app and you won't get bothered

by calls by salesman and dealerships so

using this app is another good starting

point in finding price research I was

able to log in to the price of my lease

due to this PAP after contacting

multiple dealerships for my Acura lease

I was roughly quoted around 340 to 3/5

a month but through the app I was able

to get three hundred and four dollars a

month and the funny part is that when I

showed up to the dealership to sign up

paperwork it was one of the dealerships

to offer me a price around $350 a month

this comes to show you that dealerships

can be very patient when it comes down

to negotiating I was thinking to myself

why didn't you just take my offer when I

wanted to get the lease for three or

four but instead they would accept a pre

negotiated deal through an app then I'm

pretty sure took a percentage of the

deal

which costed them more money so on this

deal the car dealership had more

leverage than it actually thought they

had the last thing you want to do before

you sign anything is to read over the

paperwork read over the fine print and

make sure all the numbers line up know

how much they're gonna charge you if you

go over to mileage know what is the wear

and tear terms of the vehicle and know

exactly what's going into your monthly

payment if anything is wrong or

incorrect it's best to get a fix there

before you sign anything all right guys

so today I went over my two-step process

for negotiating at Carly's I went over

to research that I take before going

through this process and I went over

what to do we're negotiating for the

price if you like more videos like this

make sure you let me know in the

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time

you