HOW TO NEGOTIATE A CAR LEASE: SCAMS

Safety, convenience, and freedom. There are 3 main aspects of Grand Prix Motors. We will tell you how to negotiate a car lease and spot car leasing scams & frauds! You will set your terms and get your best lease deal.

To feel confident in any life situation you have to be aware of a lot of tricks that can be ruining for you. Sometimes you can come across the deal that can put the game over on you.

What can you do to secure yourself?

When you want to lease a car, you have to be ready for dishonest dealers to still exist. On the report to the Office for National Statistics, frauds hurt you 35 times more than robberies.

They can play with lease payments, change the car prices, lie about the money factor, tend you to car purchases, and do other unfair things.

The leasing company becomes your assistant, expert, and even friend because you should trust your provider and communicate a lot.

We provide solutions for your safety and convenience, long and reliable partnership, effective and both-side profitable cooperation.

There is our 5-5-5 advice list on how to negotiate a car lease and make it more clear and safe for you!

5 Leasing Scams on How to Negotiate a Car Lease

It will be effortless for you to see that the leasing company is a fraud and tries to scam you if you know these suspicious offers. Pay attention during the conversation and be careful to catch a liar.

You must have an extended warranty!

Sometimes leasing companies would like to sell you some extra tools to have higher profits. It’s an old trick of many businesses which is traveling through time and exists as an important rule of lessors.

However, you should remember that all this stuff like extended warranties, additional maintenance contracts, paint protection are not obligatory and depend on your wish.

If you want to have more tools than mentioned in the leasing agreement you can discuss it with your personal expert but it’s unnecessary to agree with all sale offers.

You cannot negotiate the price!

It’s certainly not accurate information.

As we told you before, negotiation is one of the vital aspects of leasing. Car buyers or borrowers should how to negotiate a car lease for the total decision.

You have to know that the listed sticker price isn’t the exact price of the vehicle which you cannot discuss.

The real price will be based on the company’s calculations, discounts, and debates with the customer.

Leasing doesn’t influence your credit score!

The biggest cheating you can hear is that auto loan isn’t represented as a legal responsibility on the credit report.

Basically, leasing can be the decisive part of your credit score and build your financial history. If you make monthly payments on time, it will affect your credit score and prove your ability to pay and be a reliable partner.

If you have a regular delay for more than 29 days, you can expect that it will hurt your credit history with bad reports from your company. 

It’s the greatest decision to lease and then buy a vehicle!

In general, it’s a pretty common option of buying a car after leasing.

You have to check your leasing agreement to ensure it’s mentioned there. But it’s not a better or worse decision and it doesn’t influence your costs in a positive way.

If you want to buy a car after you finish leasing you can do it with some extra expenses.

The leased vehicles can be changed whenever you want!

There is no doubt that leasing is a great opportunity to change cars regularly and choose different ones every time.

However, you have to finish the first leasing period to start another one.

When you have a leasing agreement for 36-month but you decide to change the car in 10 months you will make extra payments for an earlier finish of the leasing deal.

By the way, leasing contracts usually don’t provide the opportunity to swap cars as you want during the leasing term. 

5 Common Frauds and Solutions

We will share some leasing scams that may seem to be legal. There are helpful tips to reveal them and prevent the influence!

1. Raising the Price of the Car: if you notice the lessor tends to change the capitalized cost stated in the contract, you have to start the discussion and check the details carefully before signing the lease.
2. Down Payment Stealing: if you make the initial payment, make sure it’s included in the lease contract because in case it’s out of the agreement it won’t make sense and this money will be simply stolen by the company.
3. Money Factor Lie: if you are not aware of the meaning of money factor, you have to know it’s the same as interest rate but it needs conversion which can be missed by the dealer with an intention to scam you.
4. Secret of Add-Ons: if you see any extra tools you haven’t been informed of, just say about that and ask to remove them from the contract.
5. Longer Lease Term: if you negotiated the lease term as 24-month, look through the contract carefully and check the number is the same and not more, because it’s common with dealers to make the period longer for their profit.

5 Tips To Spot Car Leasing Scams

1. Read the fine print to avoid some surprises and be aware of the written info
2. Do the research and check the major aspects of leasing a car
3. Learn the slang not to get lost among many new words
4. Don’t allow yourself to be under pressure
5. Negotiate as much as possible to get your profit and the deal you wish

If you found some car leasing scams in the company, and you can prove that somebody wants to make a profit on you by telling a lie, just don’t be silent! You should report it in order to prevent future illegal actions.

If you want to start safe and reliable cooperation and enjoy your leasing process, contact your personal expert now to find out all information and have a trip in your new car. The GPM team will be your lessor, lawyer, financier, and psychologist for a while! Click here to get your best leasing experience! 

#enjoy your freedom with Grand Prix Motors!

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