What are some of the terms I can negotiate when leasing a vehicle?
Following are some of the items you may try to negotiate when leasing a vehicle:
- the agreed-upon value of the vehicle (a lower value
can reduce your monthly payment)
- up-front payments
- length of lease
- monthly lease payment
- end-of-lease fees and charges
- mileage allowed and per-mile charges for excess miles
- option to purchase either at lease end or earlier
- whether your lease includes "gap" coverage, which protects you if the vehicle is stolen or totaled in an accident.
Brenda Procter, M.S., State Specialist &
Personal Financial Planning, University of Missouri-Extension
Last update: Wednesday, April 19, 2006