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auto lease agreement experience.?

has anyone had a great lease contract and great expirience at the auto delearship. how did you do it. what would you have done different if you could go back and do it again. what tips can you offer someone in the market for a lease of a 2007 toyota tundra sr5. v8. short bed with about 700 worth of aditional options. thanks for your help.

Public Comments

1. you will never have a "great" lease. it is hard to find an acceptable lease. once people start leasing they have a very hard time getting out. REASON: At the end of the lease you have $$$thousands of potential items. For example, you spill something on the carpet you have to pay for the carpet to be replaced. If there is a scratch, you pay for it to be painted. Expenses go on and on. So what most people do is when they see all these expenses they ask the dealer what they can do. The dealer says, lease another and we will waive the expenses. Of course at the end of that lease you have the same issue.
2. Leasing in my opinion is the only way to get a car....why buy something that depreciates...would it not make more sense to rent it and just pay for the depreciation....leasing is the best way to get a car......mileage being the only hook.....there is only one rule that you need to follow in getting the best lease.....#!....work the best price on the car PERIOD!....DO NOT....let the dealership work you on a payments.....go to Dealership after hours and find the car that you want....get the price and equipment of the window sticker....then go to Edmunds.com and build this car with all of the options to come up with the exact same sticker price as on the window....you will also get the invoice cost.....it also gives you the True Market Value of the car in your market area.....I would take the this invoice and use it to get the best price you can....go fo the inovoice price.....you should be able to get it or at the least be fair and maybe $500 over.....ask for the rebates available....but #1 get the best price FIRST before going to payments.....then ask them the rate....they may give you a "factor"......multiply it by 24 and it will be the actual interest rate.....ask them if this rate is marked up.....when ready for payments ask them for 15,000...12,000 and 10,000 mile per year payments and you pick the one that you want.....when they give you the payments...ask them if this is a "bare" payment...make sure that it does not include any "extras" that you will pick and chose in "finance"......try this and when they approach you at the Dealership.....tell them the car that you want and you want absolutely the "best" price or give them the invoice that you have and tell them to get you the best price.....anything he does to get you to give him a price/payment....you tell him...."best price only"..please!.........I would do this deal all day!
3. Why lease a vehicle? Although a lease is different than a contract, it serves the same purpose; you drive a vehicle and repay some entity while you are doing it. With a contract however, regardless of term, when you make that last payment, the vehicle is yours. Not so with a lease, there is a balance remaining on the lease, a residual, and it is due and payable at a specific, preset, time. With a lease you are only paying for that portion of the vehicle you use, using a predetermined amount to establish a residual. The true value of a lease is either a lower payment or more vehicle. Because of the residual, the payment will be considerably less than a contract of sale payment in which all payments combined pay the balance due in full. Leasing is neither good or bad, what is important is whether or not it works for you. Typically, about 20% of new vehicles are leased, and most of that 20% go to small business owners and professionals who replace their vehicles every three years, take the write off, and appreciate the fixed accounting method to do that. One downside of leasing is the residual value. At any given time in the lease the vehicle will have zero equity, and in many situations the vehicle will be worth less than the balance owed, creating a potentially costly situation when attempting to dispose of the vehicle prior to lease end. Considering that most salespeople are not well versed in the workings of a lease, and that most consumers know right at zero about leasing, and considering the early bad reputation of leasing, it is apparent to me why leasing is not the prevalent way of "owning" a vehicle. And perhaps of greatest impact is that we want to OWN it, not rent it or lease it, OWN it. However, the majority of all vehicles traded to a new vehicle dealership for another vehicle are NOT PAID FOR, which could be a good argument to lease instead of buying. Having built several successful dealership lease companies, and being a student and teacher of leasing, I am a proponent of individual consumer leasing. It makes sense to pay only for the amount of the vehicle being used, and to know the certainty of when the vehicle will be replaced. For some however, the flexibility of a contract purchase which allows the owner to trade at will without a contractual penalty is generally the overriding factor, along with the others, in whether to lease or purchase. The factory incentives are like the factory rebates and the finance rates, some are exceptional, and some are average. Leasing in itself is a simple process with set guidelines and finance equation figures. Each component of the finance equations are linked together, changing one will change everything else. If you would like to know more about leasing eMail me and I will send you a copy (free) of my #1 best seller "thebestdealofyourlife". besttoyou, Chuck 30 years/thousands of deals www.thebestdealofyourlife.com
4. FIRST ALWAYS BUY . when you buy there is you and only you. when you lease it should be spelled least. there is lots of crap at end of terms or you pay more when its worth much less! just hit yourself with tv remote and say oh yes that was fun!