As long as you’ve wrestled with the question of if whether or not you should lease a car, and you’ve decided to go through with it, then you’re ready for the next step which is deciding when to lease. Typically buying a car at the right time so much depends on the dealership and how they’re doing in terms of sales, so it’s best to wait until the end of the month or when it’s a rainy day, or after some horrific disaster.
If you’re out to lease a car, it’s a bit different. Never mind the restriction on miles you’re allowed to drive, and not to mention the forbidden fruit that is car modification. Leasing requires a bit more planning and preparation than just figuring out your annual mileage.
A generally accepted rule is if you’re looking to get a good deal on a lease you’re better off not going for a hot selling car. Based on this it would be extraordinarily difficult to get a deal on an F150 than a Nissan Frontier. This is where those indecisive car shoppers get their retribution. If you can stay flexible then, of course, your options are wide open.
If you’re in the market for an Oxford White, Ford Mustang GT Coupe Premium, with the accent package, performance rear wing, 19-inch Ebony Black-Painted Aluminum Wheels, and a slightly crooked albeit endearing smile, you’re going to have a hard time getting a deal. Before looking to lease, do some research on what’s slow-selling and you’re likely to find a better deal.
There are different schools of thought on this, but it mostly hinges on when the new model of the car is set to be released. Waiting for new models to come out is a good practice, because when this happens dealerships want to get rid of older models as fast as possible.
If you’re looking for a hot car like a Corolla, wait about two or three months until supply meets demand. The theory behind this is, cars that are high in demand but low on supply will cost more, so don’t expect to get a good deal when it first comes out.
Another time to lease is when dealerships are offering some kind of a deal. Keep up with listings to find out what dealerships are offering cars at discounts.
A good time to avoid leasing is when other people are out buying or leasing. The thing to remember about this is dealerships have quotas, and they need to meet them in order to survive, so waiting until the market dies down is a good time to get a deal on a car. You can check to see how the market is doing by checking on sales reports or just keeping an eye on the dealership you want to talk to, and see what moves on and off the lot and what doesn’t.
A general guideline for buying or leasing a car is to wait until the dealership you’re scouting gets desperate. Make calls, come up with realistic offers, and follow up, but be honest. Don’t waste the sales peoples’ time, because they need to make a living too. A good way to decide a realistic offer is by coming up with a budget using a calculator like Instamotor’s to get a realistic evaluation of what you can or can’t afford.
Avid Formula 1 fan and motorcyclist, I enjoy chocolate chip cookie dough ice cream and long rides to the beach.