Lease Dealers on the Loose »

Lease Dealers on the Loose

They say ignorance of the law is not an excuse for conviction. The same principle is best applied by lease dealers on their prospective customers. On the following paragraphs, we will be showcasing the varied ways dealers do a work-around customers' limited knowledge of car leasing to close a deal at their best advantage.

Trick number 1 is that car leasing is always cheaper compared to buying. This is actually negated by the fact that there are a lot of hidden charges that are not calculated when you are given the amount for the monthly payments. In a setup wherein you can lease at the lowest price you can pay monthly for an extended time. Hence, in this case you will be gaining more mileage and higher fees for the wear and tear of your car.

Ten to twenty cents per mile is the usual charge for an extra mile exceeding the total amount agreed upon on the contract. So be cautious of the car leasing deal you’re choosing; don’t get blinded by the low monthly payment; learn to find the catch.

Trick number 2 is giving you inaccurate interest-rate information. Bear in mind that the right calculation is that of the money factor multiplied by 24. It makes a big difference, right? So when you plan on leasing a car, do the math yourself.

The third trick has something to do with early termination. They say it’s easy for you to just walk away from a lease if you have a sudden car change in the middle of the contract. The truth is most car leasing companies have ceiling-high penalties for early termination of contract or that you may pay for the remaining years you are under the contract. All these are usually stipulated in your contract. So before signing it, read everything, especially the minute details stated there. Usually, there are critical information written in fine print on the contract, which you should be more cautious of, because they are usually about extra charges to be incurred under contract.

Another trick dealers use for customers is the notion that rebates and price discounts don’t apply to car leasing. On the contrary, car leasing price is always based on discounts, negotiations, and rebates. This means you should always know your rights too.

Some dealers might also sell you items and deem them required. For whatever it is, always refer to the signed contract.

All these among many others that might soon sprout as the car leasing game continues are just the tip of the iceberg. There are a lot more that sometimes only experience can tell. The best option would be to look for a person with a good experience in car leasing and learn from him. That’s the way it is to win the game!


What Our customers are saying

The lease rate I got by calling the dealer was $67 higher than the rate I got from Car Leasing Secrets. It’s all about the local competition. So happy with my Benz!
Cristoph Wiese
Athens, GA
This is probably the easiest way to get quotes and compare them. I got one from each dealer in my city. One of them was surprisingly low. The quotes are free. No worries there.
Kristen Fletcher
Albany, NY
What a great way to shop around! I wanted a Corolla. There’s only one Toyota dealership in my city but I got a quote for a Honda Civic and decided to go with that one because I got such a good offer.
Mark Dolan
Missoula, MT