If you are planning to get a car lease, chances are you are a bit disappointed with the requirement of putting cash up front during the lease signing to begin the deal. After all, it is very rare to do this kind of thing when you are leasing a house, an apartment, or majority of other items. Why do you have to do this with a car, then? The good news is that there is really no need for you to do it since there are a lot of no money down auto lease deals that are available right now. However, since these are not that easy to find, this article will try to explain how it is possible to manage to lease a car with no down during the lease signing.
It Starts with Good Credit
One of the best ways of getting a no money down lease or get a lease with lesser money down compared to an average car shopper, is to ensure that your credit is exceptionally good. Drivers who have good credit are seen to be less of a risk in general. It means that they are qualified for better deals in the automotive leasing and financing world. When your credit is not that good to make you qualified for a no money down lease, you can ask a friend to consign the loan. Just remember that when you do this, you will put the credit of your friend at risk if you default on payments.
Proceed with Good Negotiating
A great means of getting a no money down auto lease is negotiating hard and insisting that you will not lease a car without it. There are instances when it doesn’t happen even if you have great negotiating skills. However, most of the time, lending companies and dealerships could be convinced to roll the down payment of the lease to the monthly payments of the car. On the other hand, when there is a low demand for the car, such as when it is the model year’s end or supplies are high, a lending company or dealer may waive the down payment as a whole in order to close another deal and remove the car from the showroom.
Consider Good Incentive
Taking advantage of the special offer or monthly manufacturer incentive on a car is another great option for getting a no money down auto lease. While it may be difficult to know the exact time when your preferred car will have a good lease incentive, most carmakers provide no money down lease deals every month for moving inventory or clearing out a certain vehicle prior to the end of a model year. if you are dead set on a no money down auto lease and the two strategies above don’t work, there might be a need to change your preferred car and stick with a different model offered with an incentive or no money down lease.
It is definitely possible to be qualified for a no money down auto lease but it is not likely all the time even if you have strong negotiating skills or good credit. But, by following the suggestions above, you can look forward to debunking this auto industry myth.