When is the best time to lease a car?
When it comes to leasing a car, timing is key. Regardless of whether you aim to lease a car for personal or business purposes, by leasing your vehicle at key times of the week, month and year you can benefit from substantial reductions in the cost of your monthly payments. Therefore, to help ensure you receive the very best deal possible for your preferred make and model of vehicle, here are some of our top tips regarding the best times to lease a car.
Browse for cars at the end of the month
At the beginning of the month salespeople will be less inclined to offer lease deals, but as each month draws to a close these individuals will become more eager to meet their quota, and as such will be more likely to offer you discounts in order to secure their commission. Consequently, if you hold out on visiting dealerships until the end of the month, and visit on a quiet weekday when there will be fewer shoppers present, then you will significantly increase your chances of securing a cheaper lease deal.
Shop during a quiet sales season
As a rule, you should plan to lease a car during seasons when your fellow consumers will be less inclined to visit car dealerships; such as during the festive season when most people will allocate their funds towards gift buying, and during adverse weather conditions when many motorists will not want to view cars in rainy or windy weather. So why not seize these opportunities to visit car showrooms and negotiate the terms and conditions of your lease? Dealerships who have been struggling to sell their stock during these scarce sales periods will be far more likely to offer you a discount in order to secure your custom.
Lease at the beginning of the model year
If you're interested in leasing one of the latest models, then you should aim to do so as close to the beginning of the model year as is possible, because this is when the 'residual value' of the vehicle in question will have recently been estimated. The term 'residual value' refers to the portion of the overall cost of your car for which you will not have to pay within your leasing contract.
As Real Car Tips explain: "Generally, the best time to lease a car is shortly after the model is introduced. That's when the residual value will be the highest - meaning you'll likely save money on the depreciation cost...The residual values are usually based off the Automotive Lease Guide's Residual Percentage Guide which is updated every two months. As the model year progresses, the residual values trend lower."
By biding your time in the short term, and leasing your car at the beginning of the model year, you can save yourself a significant amount of money in the long term!
Current Special Deals
Funders, dealerships & manufacturers will occasionally offer discounts & savings on certain models allowing us to pass those great prices on to you. These deals can pop up at any time of the year and might include the ideal vehicle you are looking for. Now might be the best time to lease a car for yourself. To take advantage of the great deals of today, you can view our special offers section.
Keywords: car leasing advice