Car Leasing, FAQ, Negotiating

What are the biggest mistakes that people make shopping for a car?

by Alex Glenn, VP

People make a lot of mistakes when shopping for a car, but the biggest one is probably not negotiating. Simply put, car salesmen will try to sell you every aspect of leasing or buying at a higher price. They make more money if they do, which means it’s entirely in their interest to do whatever they can to make you pay more.

Thankfully, you can negotiate almost everything. Here’s a list of things that you can and should negotiate:

WHEN YOU BUY A CAR:

  • Trade-in value of your old car (if you’re trading in)
  • Interest rate (it’s good to know your credit score)
  • Down payment (usually it’s around 20%, but you can negotiate)
  • Loan payment options
  • Warranty options and length
  • Unnecessary costs (read everything)

WHEN YOU LEASE A CAR:

  • Trade-in value of your old car (if you’re trading in)
  • Interest rate (it’s good to know your credit score)
  • Ending value of the car also known as the value of depreciation (which can alter the monthly payments)
  • Fine print details like what “normal” wear and tear is
  • Mileage you’ll drive on the leased vehicle
  • Down payment (a good rule of thumb is to never pay more than $2000 for leasing)

Negotiate everything you possibly can. It’s a big topic, but negotiating will save you money and hopefully steer you clear of unnecessary options. Before you go to a dealership, try to remain apathetic. Don’t get emotional, basically, and certainly don’t take the first deal they throw at you. Decide beforehand what works for you and stick to your guns.

Alex Glenn, VP

Hello and thank you for reading. I am the VP of Marketing here at carlease.com, so please let me know what you think!