How to Lease a Vehicle With No Money Down

Leasing is an attractive option to drivers who like to be in a new car every few years. Vehicle to vehicle, lease payments are always lower than payments on a vehicle you buy, assuming both are identical. Most vehicles can be leased with the only out-of-pocket expenses such as sales tax, title, bank and motor vehicle fees. Unlike the purchase of a vehicle, leasing usually involves fewer negotiations. However; you should still negotiate price, monthly payment and money down. Another negotiable factor is the length of the lease which can affect the monthly payment.

Instructions

Find the Vehicle You Want and Negotiate

1

Find the vehicle you like. Most manufacturers have leasing programs on their website so that you can gauge what the monthly payment will be. Print the information from the dealer's website so when you go to the dealer you can negotiate intelligently. Know where to start your negotiations or at least be able to do your math to figure out your payment with more or less money down.

2

Test drive the vehicle that you want to lease, and be prepared to lease if the terms are agreeable. Your best negotiating tool is your readiness to buy. Keep in mind when leasing, every $1,000 down equals about $30 a month in your payment. And remember, leasing terms are not set in stone. Other leasing options include purchasing more miles per year for the duration of the lease or a longer or shorter term for the overall lease period. You monthly payment will change based on what terms you agree to.

3

If you decide you do not want to put any money down, let the salesperson know from up front. You should be able to figure out your payment based on the formula discussed in Step 2. Make sure you know what price your salesperson is basing the lease off of. Most of the time it will be MSRP (Manufacturers Suggested Retail Pricing).

4

You should try to negotiate the best price price you can, working down from the MSRP.