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Q. I have heard that some car manufacturers will offer leases as an alternative to financing. What are some car manufacturers and types of leasing deals available? G, f.aciza, Lima, Peru
A. There is no one model or type of leasing deals available, but rather a variety of packages with models and leasing rates.
Leasing is available through other retailers, such as Hertz and Avis.
There are no nationwide statistics on leasing, so I am looking at a number of states’ filings with the Better Business Bureau’s (BBB) to see how leasing is done. At the end of 2017, many states were releasing leasing statistics.
Here is how leasing works. After the owner of the car submits a sales contract, the dealership gains control of all the details, such as the make, model, color, options, etc. But since your car doesn’t have that purchase condition in it, the sales contract still holds more information about the deal.
The seller of the car, usually the owner of the car, will offer a list of incentives (bonuses) at the time of sale to “advertise” their sales and bait potential buyers with incentives. Then, the dealer takes that list of incentives and ups the ante by allowing customers to negotiate the lease offer.
Although you should only offer incentives to lure a customer into your car, a buyer of a lease deal has an opportunity to score a lot of incentives.
Booths in big car dealerships offer incentives that are not otherwise available. For example, “free” gas is given in car leases. Some car dealerships will even offer as many as 10 different incentive packages for the same vehicle, so it’s best to negotiate as much as possible.
There are a number of top-of-the-line lease deals that work well with advanced models and luxury brands. For example, on Nissan Alturas, you can get a six-year lease with 31,000 miles for just under $1000 per month, which is a great deal.
Some manufacturers have nearly zero lease rates, such as Hyundai for its Genesis Luxury Luxury cars. But not all deals work for each vehicle. Certain models — specifically high-performance cars — don’t normally have long lease terms, which makes leasing a more complex deal than buying the vehicle.
If you really want to save money on a leasing deal, simply wait until the next model year and see if you can negotiate a better deal, but this deal is something you really have to work for.
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