How to Negotiate The LOWEST Car Lease Payment (Step by Step)

Six steps to get the LOWEST car lease payment! This method works for ANY car out there. I also explain the math behind car leases, why it makes sense to NOT put ANY money down, and talk about rebates/additional fees.

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Timestamps:
0:00 - Start Here
1:19 - 1. Decide on Terms and Make & Model
1:52 - 2. Figure out Residual Value
4:56 - 3. Finding the Money Factor
5:36 - 4. Calculate Your Estimated Monthly Payment
8:48 - 5. Call Dealers and Gather Info
11:02 - 6. Rinse & Repeat
11:13 - Why Put $0 Money Down?
12:04 - Rebates for the BEST Deal
12:30 - What's Due At The Dealer?
12:52 - Final Thoughts

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😺 WHO AM I: I am not a cat. My name is Humphrey Yang, I've built multiple businesses and am passionate about Personal Finance, Investing, among other things! If you're trying to build a solid foundation of financial literacy, learn to invest, or become financially free - then I'm here for you!

PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for.

[tomatuvm]

Hey I wrote that post, thanks for the shout-out! Couple errors in your explanation. Capitalized cost isnt the price you negotiate, it's the final sales price you negotiate plus everything else. You'll want to negotiate sales price separately with the dealer, then confirm the cap cost only includes the fees and accessories that you want. Also, there's no way you'll get 20% off MSRP these days. You'll be lucky to get msrp.

Would love to chat about it on your show. There are also a few more pitfalls to avoid that didn't exist when I wrote the post. Also, I can share a more comprehensive calculator if you're interested.

[YarevAguilarMusic]

I just got my Honda pilot Touring from the dealer got a 7k discount which it was hard but they agree with me and 2000$ for fees and first lease payment. First time I went with out the knowledge they wanted 5000 down with 500$ discount and payment of 695$ a month 😂 I left the dealer . Went to another dealer after watching your video lowered 2k they also wanted 5k down but I told them I would think about it. Went next day and told yes and I did all the numbers in front of them and they were impressed they wanted 5k and after I did the math my 5K were not in the numbers I did. I left and I contacted a car broker he was going to get me a 2024 EXL pilot for 500 month a 2500 for first payment and broker fee, call the dealer the same day and told them a car broker gave me a better price and payment but never told them it was a EXL. They call me next day saying they will give me the same price as the car broker with 0 down payment. This video save me 5k on down payment. It works but you have to be good in numbers to show the dealer that your not stupid!
At the signing the manager didn’t even talk to me😂😂😂

[ThreeTwentyTech]

Your channel has been my go-to place to find all my personal finance and money making/saving tips. You deserve all the success you have, Humph! 💪🏻

[juanplus]

I've always wondered how car leasing works. Now I have a proper tool to negotiate. Thanks so much!

[JamesJosephFinn]

The calculator has a crucial error. The RV is a percentage of MSRP; not cap cost. (Edit, to be clear: Cell C11 should be C2 * C5. Whereas you currently have C11 as C4 * C5)

[alexcienfuegos]

I just watched a 45min video about the same thing. Your video is a lot more simple, easy to follow and understand. Thank you

[TeamBreeze]

Humphrey, you’re truly the goat !! Appreciate ALL of your content. Highly informative & knowledgeable. You’re out here doing gods work for real. THANK YOU !

[annieban]

Perfect timing!! I’m in the process of getting my first car after building my credit so this is great info! :D

[jeremymassey]

By far, the most well explained video on car leasing negotiating video. Excellent Job!

[briarrhea]

Liked and subscribed! The fact you share the spreadsheet so I can play around with it is just awesome.

[igorkoske]

Residual Values are NOT set by the dealer but by OEM of the bran’s Captive Lender and it’s none negotiable! Also lease rate what’s called Money Factor is also set by OEM’s Captive Lender and it’s also SET IN STONE but dealers can mark them up so it’s crucial to know what’s called Buy Rate Money Factor or Retention Lease Rate in order not to get overcharge on rate and ultimately overpay because markup Money Factor will drive your payment higher.

[newmoneynate]

This is awesome man!! I’m actually looking into leasing a 2022 civic haha so this was perfect

[thebeddoctor]

Just leased a hyundai tucson ultimate trim. It took a while but they discounted it down to 28k and saved me a ton on my lease payment. I think because the new redesign came out helped but it was still like 8k off

[masoodjamily]

Thank you so much you are absolutely 100% correct this video is not just an eye-opener but lowballing a dealer is the only way to get the car Of your dream. They rip us off every single day with every deal. it is our right to lowball them…❤️❤️❤️

[Rawrued]

This is such a great video I wish I watched this when I leased my Subaru Forester two years ago. I was wondering if you could do a video of going from a lease to financing the same leased car?

[BruceChodorov]

Useful spreadsheet. Great explanation and negotiation suggestions.

[investwithtisan]

Always provide great contents. I love how this channel always provides valuable money tips.

[himanshuagrawal]

Great content as always.. Nice to know and learn all these things in such a easy way.. Thanks and keep it up 👍🏼

[palomahealing]

Great video! You map it out easy and all makes sense🥰🥰🥰

[denysb]

Thanks for the calculator. I just got one. The only thing that is missing for me now it a lot of dealers asking for a one-time downpayment on top of the monthly lease payment. Will try to update it in my copy