According to IHS Automotive, a quarter of all new-car buyers lease their vehicles, and the number goes up for luxury shoppers. For example, more than half of all retail buyers chasing a new BMW, Mercedes-Benz, or Lexus drive off in a leased vehicle. And while financing is a relatively straightforward process, leasing is not. Here?s why.
Advertising Versus Actual Inventory
Manufacturers advertise national lease specials all the time. A $399-per-month rate (the average of all car leases) draws 3-series buyers in like the tide. What about that Civic for only $99 per month and $2999 down" It?s all possible, at least in theory. That magic number in the TV ads is derived from an exact car that the nearest dealers may not stock. Even dealers?who you’d think would only advertise their own inventory?don’t always guarantee the lease prices they promote. If you go looking for the deal in the ad, you?ll have to confirm that such a car exists. Likely, you’ll be directed to a similarly priced model on the lot with another option or three, which will inflate the monthly payment. Willing to wait for a car at the advertised price" Good luck convincing a dealer to special order a leased car. Many lease specials require taking delivery from dealer stock, and if they don?t, by the time your special order arrives, the deal may have expired. Some manufacturer deals also require an unpublished ?dealer contribution??a discount that lowers the MSRP?that not all dealer...