Many drivers assume the terms in Subaru lease deals are set in stone, but you’re able to negotiate the terms of your plan. Negotiating helps you find a plan that matches your driving needs, whether you’re looking for a lower interest rate or to minimize monthly payments. Learn more from our team at Lester Glenn Subaru.
Negotiating the Overall Price
The overall cost of a car being leased is called the capitalized cost, or the cap cost, and it’s one way you can directly negotiate your monthly payments. Before you start, you should know whether you’re trying to minimize the overall amount you’re paying or to specifically limit your monthly payments. While you should negotiate the price for most standard leases, a Subaru lease special may have a cap cost that can’t be adjusted.
Negotiating the Money Factor
The interest rate for your lease isn’t expressed as a percentage, like with traditional financing. Instead, look for the “money factor”, which will be a small decimal you can multiply by 2,400 to turn into an interest rate. This is another place that you can negotiate to limit your overall expenses or adjust your monthly payment.
Negotiating the Mileage Cap
Even if your budget is set for your Subaru lease, you can still negotiate to adjust the mileage cap. Use Google Maps to estimate your daily route and make sure that the standard 10,000-mile limit will be enough for all of the driving you want to do. Adjusting the mileage cap up at the beginning of the lease is always a smart idea, as it will be much cheaper than paying for extra miles at the end of the lease.
Test-Drive Your Next Subaru Lease in Toms River, NJ
If you’re not negotiating lease terms, you’re missing out on one of the best ways to adjust your plan to meet your needs. Find out more about adjusting your lease to fit your needs at our Toms River, NJ Subaru dealership. Explore our specials and take your new favorite car on a test drive today!
