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Introduction

What is a lease?

The Mathematics of Leasing

Lease Calculator

 

Negotiating Your Lease

As I mentioned in the beginning, this book is a guide to help you understand leasing sufficiently to enter into negotiations without feeling like a lamb being lead to the slaughter.†

This does not mean all lambs are slaughtered, or that the slaughtering process is painful.† About the worst thing you can do is enter a car dealership with the feeling that everyone there is out to get you.† It is not true and you shouldnít feel that way.† You are about to make second largest purchase of your life and create a relationship with an organization whose very life depends on your patronage. There is no reason to start with a bad attitude.† If you arrive at the car dealership and you donít feel comfortable, then get out of there.† Go somewhere that feels good to you.† Deal with someone you like.† Believe me, if the salesperson you end up with doesnít like you, neither of you will be happy with the process.

It is your responsibility to set the ground rules and timing of the car shopping and buying process. Your goal and the goal of the salesperson are exactly the same. You both want you to have a new car. The path to that goal is where the difference comes in. Initially you want information on the car itself, the dealership, and financing options. (Iím speaking to the majority of the new car shoppers, so if you have a wad of cash in your pocket and know everything there is to know about the car, just pick from this section what information you need.)

I suggest shopping by telephone as the first step. Contact the dealer of the make of that interest you and give them a call. I typically contact three dealers starting with the third, or the one farther away. Ask the person answering the telephone if they have a leasing department, and if not, ask to speak to a new car sales person. Explain to the salesperson up front that you are interested in the cars, and a particular model, they sell and would like to discuss the car, the dealership, and know a little more about him, or her, (the salesperson), before driving down. Explain that you are interested in leasing and what your expectation is involving calculating the lease yourself. Explain that you will only deal with his dealership if they will give you all the figures on the lease so that you may do the calculations yourself.

 

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