Car Buying Advice - 2017 Discovery sport lease- General lease questions

amy_alley

I am negotiating my first lease. I wanted to ask for advice on how to handle it. When I inquired about the vehicle I was asked a few questions such as "what payment are you looking for? Do you have a trade in? " I wanted to know how I should answer these questions. Also should I be very straight forward and ask the dealership what is the MF, residual and what rebates or incentives are available at this time? Is the price negotiation the first step and then get lease term details? So many variables...

Thank you in advance!
Amy

NathanCrumback

amy_alley said:

I am negotiating my first lease. I wanted to ask for advice on how to handle it. When I inquired about the vehicle I was asked a few questions such as "what payment are you looking for? Do you have a trade in? " I wanted to know how I should answer these questions. Also should I be very straight forward and ask the dealership what is the MF, residual and what rebates or incentives are available at this time? Is the price negotiation the first step and then get lease term details? So many variables...

Thank you in advance!
Amy

Great question! There are a lot of factors to consider when looking at a lease. The main thing about leasing is to treat the negotiations like you're purchasing the car. The major factor (that is negotiable) in decreasing the payment is the Sales Price (Cap Cost). I would recommend reading these articles as they will help familiarize you with leasing:

* http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html
* http://www.edmunds.com/car-leasing/four-ways-to-spot-a-good-lease.html

I also recommend getting quotes with $0 down. This will help when you want to compare quotes from multiple dealerships. I would ask the salesperson all the questions you mentioned. Technically, they do not have to tell you the money factor but if they don't want to tell you it, they don't want to earn your business. In terms of the sales price, make sure you get clarification on if it includes rebates or not.

What city and state are you looking to lease in?

NathanCrumback

You're welcome! The taxes for a lease will apply by your home address. As for the Documentation Fee (Dealer Services Fee), that will vary depending on what dealership you get it from and what state they're in. Georgia and Florida have some of the highest average Doc Fees in the country: https://www.edmunds.com/car-buying/what-fees-should-you-pay.html

So other than sales price/cap cost, you will want to see what fees they are charging.

kyfdx

Also note that GA taxes the full selling price of the vehicle, even on a lease. Sometimes, that makes leasing in GA too expensive to consider.

amy_alley

Thank you for the information. I am in Atlanta. I am looking for a specific vehicle so it may be from another state.