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How to get the best deals on car leasing?

Car shopping isn’t easy and it can take a lot of your time to find that perfect deal that suits the budget and gets you more of a car than you originally set out to find. It all sounds good but how do you go about achieving it?

There’s 3 words that come to mind straight away and that’s Where, When and How and we have provided some very useful tips that would help make your task easier to achieve.

Where to look?

First things first you need to shop around and you shouldn’t avoid this as it equips you with the necessary research. It's no good going to lease a car without knowing what's on the market, or what's available in your price bracket. And you never know, the car you've been dreaming about might not live up to your expectations in reality.

We would advise that you walk straight into the nice big dealerships and sit in a variation of cars and take one or two on a test drive to get a practical feel of the cars. This will enable you to determined what car best suits you and your circumstances answering questions such as; Is there enough leg room? Is the boot big enough for your golf clubs?

Once you've decided on the car, with a specification and all the extras you'd want, the next step is to go search online and compare deals on lease cars from leasing brokers to get the best offers on the day. You will find not every website will have the car you want or the terms you want to commit but don’t give up and keep going as the package you want is just waiting to be found.

When to order?

When it comes to timing there’s never a set period that will guarantee you the best deal. However, you could try taking advantage during certain months of the year depending on what you are looking for.

If you want to make sure you have the best possible deal on your car, and aren't too concerned about having a car with the newest registration plate, then the best time to purchase your car is before the new registration plates come out (March and September). Lots of companies will lower the price of the lease to clear the stock and make up the numbers for the previous period.

Alternatively, if you want the vehicle on a new registration plate, you may want to order a few months in advance not only to get the best deals but also guarantee your car is ready for the big release date.

Another good time to strike a great deal is just before a new shape or uplift is about to release as again the chances are there would be a lot of the previous generation models looking for owners.

How to negotiate?

You can only be ready to negotiate when you know what exactly you want. When you're sure of the car and model you want and finally found a supplier that has the car in stock then it’s time to negotiate the best deal available. Before you go to haggle a sales person you need to make sure you have an idea of different prices you can get the car for with other companies, this ensures you can pitch the company against its rival in order to get the lowest prices or any extras they can throw into match the package.

Every sales person has targets they need to meet and there is no better time than trying to negotiate a deal towards the end of the month or year quarter unless of course they are already way above their target.

The leverage areas of negotiation when it comes to lease cars is the deposit contribution or the discount on the car price and if you can work your charm you may even get offered you up to 10% on the friends and family discount deal, depending how desperate they are to meet their targets.

It’s very rare to negotiate on the interest rate as this is set by financial departments close to head-quarters.

The other thing you may want to try are a few cheeky freebie extras. You wouldn’t expect upgraded wheels but they may give you a few accessories to close the deal.

This all applies when you want to lease purchase.

When it comes to contract hire its slightly different and theres isnt much room for negotiation because the competiton is such that broker websites have to display their best prices to get a potential enquiry.  But having said that if you find a like for like deal better elsewhere its always worth mentioning it so your dealer or broker can work towards it.

TFS is a car leasing Broker and they have partnered with many dealers so they can call around to get the car deal you want negotiating on your behalf – this is where your broker fees comes into justification and it’s well worth it.

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Posted on 30th June 2016 at 1:12 PM

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