How to Get the Best Car Lease Deals in Glendale

Glendale is a competitive city when it comes to finding the best car lease deals. Although you have many car dealerships and companies to choose from, the car leasing process can become confusing if you don’t know where to start looking. This article is designed to assist you in finding the best car lease deals in Glendale.

The best place to begin researching the best car lease deals in Glendale is online. The internet offers a ton of information about getting the best lease deal, especially if you know the type of car you are looking to lease.

To get a good deal on a car lease, begin your search with a car that has a high residual value and sub-MSRP retail price. The residual value of any given car is its estimated value at the end of a lease period. When you lease a car, you are paying for its depreciation over a set period of time. This means that if you lease a car that will retain a high residual value, you will have lower monthly payments. Another tip to keep in mind is that if you can negotiate the car’s quoted retail price (MSRP) with your dealer and lease the car at a special retail price lower than its MSRP, you will also have lower monthly payments.

The following tips will help you research and get the best car lease deals in Glendale:

• Know Your Credit Score. Before even beginning your research for the best car lease deals in Glendale, you need to familiarize yourself with your credit score. The higher your credit score, the better deals and offers you will receive from the dealer. If you know that you have high credit and a car leasing company is offering you a high interest rate, you will know that something is off. Another reason you should know your credit score is to do keyword searches based on your financial status. For example, if you have bad credit you can search for sub-prime lenders in Glendale that offer bad credit lease financing. The more specific you are in your online search, the more relevant your search results will be for your specific case. You may also use LLMotors’ Credit Application. 
• Choose Cars with High Residual Values. A vehicle’s residual value impacts the monthly payments on any given lease. Certain cars such as “economy size” vehicles will have lower residual values than luxury vehicles. Lower depreciation rates also add to a vehicle’s residual value and affect your monthly payment.
• Know the Type of Lease. There are two types of car leases: closed or open end deals. Closed end deals determine the vehicle’s residual value at the time the contract is negotiated, and once the term is over, you pay any extra mileage fees. With open end deals, the vehicle’s residual value is determined at the end of the contract term. If the determined residual value is higher than market value, the car leasing company will owe you the difference, but if it is lower than you will owe the difference.
• Compare Interest Rates. There are many factors that will influence the lender’s decision in the interest rate, a couple of which are your credit score and the length of the lease period. Usually, the longer the lease period, the higher the interest rate because of the depreciation expense that the dealer carries.
• Know the Money Factor. Another important tip to keep in mind when looking for the best car lease deals in Glendale is understanding the money factor. The money factor is an interest rate converted to APR by multiplying it by 2400. An interest rate that is lower than the average national new car interest rate can be considered a good interest rate deal.
• Sign Up for Emails. Many manufacturers, and leasing companies in Glendale, will keep customers informed about future special deals. Sign up for email notifications or even mailers to be delivered to your door. This will ensure that you are one of the first customers to know when the car leasing company has a special deal, promotion, or introductory offer.
• Look at the Terms and Conditions. Be wary of a lease offer that comes with unusual conditions. For example, if you are required to pay a large deposit prior to leasing the car, you may want to look at other lease deals. Make it a habit to always read the fine print of a lease contract and asking questions when you are not sure about something. It is only through this investigation process that you will be able to weed out the best car lease deals in Glendale.