[Beck]

I've never leased a car before so please excuse the basic question.

Say I custom order a car. Do I have to negotiate the lease terms at the time I place a deposit on the order, or does this usually happen after the car comes in?

Since it's a very new model, my hope is that in the 3-4 months it takes from time of order until car comes in the lease MF and residual figures will improve.

Thanks.

[328AL]

Originally Posted by Beck

I've never leased a car before so please excuse the basic question.

Say I custom order a car. Do I have to negotiate the lease terms at the time I place a deposit on the order, or does this usually happen after the car comes in?

Since it's a very new model, my hope is that in the 3-4 months it takes from time of order until car comes in the lease MF and residual figures will improve.

Thanks.

Yes, you DO want to negotiate everything before you sign anything and/or write a check.

There are a lot of threads on how to get it right.

Good Luck

[bavarianboar]

Originally Posted by 328AL

Yes, you DO want to negotiate everything before you sign anything and/or write a check.

There are a lot of threads on how to get it right.

Good Luck

+1

Your current rates get locked when you order. If the rate improves you get better one. BUT you cannot use residual from one time, and Money factor from another time. They are bonded together and can be used as a single set, whichever works in your favor.

Always negotiate every single thing at the order time, get breakdown of every item and before that please do some homework to understand how the pricing, payments, lease calculations and discounts work. It will be so much better to go as an informed buyer and know what is a fair price to pay in terms of interest, selling price and other additional costs like bank fee etc.

328AL, dude go to sleep. It's late! j/k

Looks like we are all getting excited more and more as the ship comes closer

[328AL]

Originally Posted by bavarianboar

+1

328AL, dude go to sleep. It's late! j/k

Looks like we are all getting excited more and more as the ship comes closer

What are you doing here Helping people

[bavarianboar]

Originally Posted by 328AL

What are you doing here Helping people

PS: I just wanted to use that emoticon!

[markmatthews]

This is my first time ordering a leased car...

I understand the money factor/residual can still change for better/worse, but the negotiated selling price of the car cannot be changed once the car gets here, yes?

If I get the car for $500 over invoice now then even if the money factor and residual change in December I won't be able to change the $500 over invoice selling price, is this correct?

[328AL]

Originally Posted by markmatthews

This is my first time ordering a leased car...

I understand the money factor/residual can still change for better/worse, but the negotiated selling price of the car cannot be changed once the car gets here, yes?

If I get the car for $500 over invoice now then even if the money factor and residual change in December I won't be able to change the $500 over invoice selling price, is this correct?

Once you make an order, you can lock all your incentives and financial terms for 60 days on the East Coast and 90 days when the West Coast. Then, if terms improve or additional incentives become available, you can take advantage of those as well. However, if terms get worse, you are locked and protected.

Your purchase price is locked automatically at the time you make your order.

[markmatthews]

Originally Posted by 328AL

Once you make an order, you can lock all your incentives and financial terms for 60 days on the East Coast and 90 days when the West Coast. Then, if terms improve or additional incentives become available, you can take advantage of those as well. However, if terms get worse, you are locked and protected.

Your purchase price is locked automatically at the time you make your order.

Thanks!

[Beck]

Thanks for the info guys.

What about the trade-in? Say we agree on a trade-in price and place the order. During the 2-3 month wait for the car, can I try to sell the car privately? If so, what happens to the lease figures if I successfully sell?

And even if I don't sell the car privately, I'll still be making loan payments on it during those few months wait. It will have more equity by the time the new car arrived. How is this reflected? Will there be further cap cost reduction on the lease to reflect this (thus lowering my payments)?

Thanks all.

[328AL]

You have to treat both transactions separately; purchase and a trade-in. Unless, you want to trade-in at the same time you made an order, but then you have to wait without a car.

[Beck]

Originally Posted by 328AL

You have to treat both transactions separately; purchase and a trade-in. Unless, you want to trade-in at the same time you made an order, but then you have to wait without a car.

So I can't use my trade in to reduce capital costs on the lease if I don't trade in at the time of the order?

[328AL]

Originally Posted by Beck

So I can't use my trade in to reduce capital costs on the lease if I don't trade in at the time of the order?

There are at least two issues here: you can trade-in at the time of your order and use proceeds as a deposit, or you can wait until you order gets here and then traded it in, but they cannot guarantee you a value at the time of your order for two-three months down the road. If your car is in a good condition and is it has clean Carfax, I would suggest to make an order and then maybe two three weeks before your car's delivery sell it to a private party, that way you would get way more money then for a trade-in. Furthermore, I will use your proceeds not for a down payment but rather for MSDs. Down payment for a lease is a bad idea!