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What is the best time to lease a new car?

Much like purchasing a new car, leasing is similar in many ways to the questions of when. End of year or month deals, holidays, and manufacturer specials can save you money on the lease payments. Here are some of the most common times that can almost always knock some money off the new lease.

Unforeseen Instances

If a model isn’t doing as well with sales or if business is slow for a particular manufacturer, you can expect them to throw some nice incentives and lower premiums to get the automobiles leased out and off the lot.

New model rollouts

Just before carriers announce or roll out a new model OR the upcoming years model, dealerships are known to offer some major cash incentives to drive the current mile. Many people assume the newer model will be in excess of new added features and opt to wait and get the future model. The thing is, through research, you can determine IF the changes are significant or even relevant to your own personal preference.

Monthly or Annual Sales

If a dealership isn’t hitting their end of the month goals, often times the dealer itself will find a way to incentify a lease package to make it more attractive to a potential lessor.

Negotiation is key in a lease deal and getting the dealership to wiggle may come down to the end of the month and a look over their sales goals and projections. Furthermore, many are even more motivated to work with you on the cost at the end of the year. Often times the annual bonus may rest more heavily on hitting yearly milestones and surpass even the monthly goals making this an opportune time to broach the dealer about leasing.

Holidays (Especially those with a long weekend)

Some of the most steep discounts come during the holidays – anytime there is a holiday that falls on a Monday (Memorial Day, Labor Day, even Black Friday) and definitely the end of the year (Christmas) – you can take advantage of the savings associated with the holidays. Always make sure to read the fine print in these deals though to make sure there aren’t hidden fees or excessive low mileage limitations. Often times, they limit the color selections on these deals as well.

Last Tips When Shopping Lease Options

Make sure you have an idea of the monthly lease payment you can afford and start negotiating lower when first approaching the salesman about a vehicle. Make sure any fees, down payments, and taxes are agreed upon up front, especially when shopping the holiday and end of the year sales events as they can get hidden in the fine print. While timing can be a huge factor in the leasing process, making an informed decision in regards will not only save you money down the line, but can help expediate and possible save you more in the here and now of the initial deal.