3 things I would add. 1st, always put as little down payment as possible on a lease. If you put $5k down and car gets totaled 1 month later the car will get paid off by insurance but you are out that $5k and now you need to buy another car. 2nd, dont buy anything from the finance office, you dont need extended warranty or paint protection just take care of the car you will only have it for 3 years, if you decide to buy it out you can add warranty then. 3rd, know how much you drive. Most leases are advertised at 10k miles per year. You can get 12k and 15k but usually will cost you more per month, and if you go over those miles could cost you .20 per mile which will add up.
@NaamWynnАй бұрын
All great points!
@JxSancheZx510Mex21 күн бұрын
Most brands will give you rate reduction on your money factor if you do a one time lease. Also the likely hood of one crashing there car in the duration of their lease isn EXTREMELY low
@DR_Bloom8620 күн бұрын
@@JxSancheZx510Mex I live in Florida i don’t trust the drivers down here. Been here 5 years and my wife already had her car totaled once by someone running a red light.
@ronaldcarnevale342416 күн бұрын
Good advise. Much appreciated. Can I just add that for a car huy im surprised you mispronounce Hyundai. Its not HON-DIE...its HUN-DAY. Just had to mention it as it gets my feathers in a frenzy when someone especially car guys mispronounce my car. Lol. Hope you dont mind me sayin
@ronaldcarnevale34242 күн бұрын
I just want to say Hyundai is pronounced HUN-DAY not pronounced HON-DIE
@joamiggАй бұрын
Never put money down on a lease.
@andrewshenton654125 күн бұрын
My only caveat to that is when i traded my previous lease and made about 3500$,i used it to lower payment but it wasn’t like i wrote a check,personal preference maybe or just an way of thinking?,but i would never write a check,roll everything in
@lmack705411 күн бұрын
@@andrewshenton6541when you say you made 3500 is this because the vehicle appreciated? My 2020 lease is up in Nov and I've been wondering if they'd give me more than just the loyalty discount to encourage me to sign a new lease instead of buying it out?
@Dandrinetwork2 күн бұрын
Why?
@LaphootАй бұрын
I instantly trusted you right after I heard how you pronounced "Hyundai" 👍
@NaamWynnАй бұрын
Haha 😂
@ThomasButrynАй бұрын
Tesla needs to offer a reasonable lease on the Model X. The Model X lease should be around $770 because the retail price is $77,900. As you point out, many competitors are offering very attractive leases.
@philg3759Ай бұрын
There’s a reason they’re the only ones having profitable EVs
@icecoldac318 күн бұрын
Will Teslas have a good residual value? If so leases will be high on a monthly basis for them. If not then Tesla is robbing consumers blind.
@jgnmtz10 күн бұрын
My last lease was a 2017 VW egolf ..the MRSP was 32,000 with the no down lease payment at $329 plus tax ..but the tax was $30/month . I ended up paying $360/mo. But the $7500 ev credit cut the price .. back then California was doing $2500 ev rebate so that cut the price again . Then I bought the car for approx $11,000 after 2 yrs 8 months at 2.9% interest for 3 yrs., but I decided to pay it off after 2 yrs . I don’t like having to put money down! But I do shop for lease deals with an eye towards buying . I use the $7500 ev credit to lower the price then I pay the depreciation over the lease term
@bullit199Ай бұрын
I don’t think Tesla allows you to buy out your lease at the end. You just turn it in.
@NaamWynnАй бұрын
This is true
@Jhunt1230326 күн бұрын
Very helpful video. Thanks!!
@chefb2606Ай бұрын
Wow.. I never even knew this was a thing. Thanks Naam👊🏾
@NaamWynnАй бұрын
Lets go!!
@nicky_radsАй бұрын
nice vid, had not heard of lease brokers before
@gsctrading7215Ай бұрын
great to know, thanks for all the info.
@NaamWynnАй бұрын
Welcome!
@payotimeRamsYT28 күн бұрын
Thank you for this! I am looking at leasing for the first time. I was offered a Nissan Rouge for a two year lease at .99 interest. It looks like it’s just above the 1% rule but still the best deal I’ve found this week.
@VM-zp1cz7 күн бұрын
What if you are situation to break the lease during the tenure?
@emcemcemc3 күн бұрын
I want to get rid of my 2023 Kia Soul Ex and trade it in for a BMW EV, I live in Southern CA. Bakersfield specifically, Im 7k in negative equity for my car right now. Would leasing be best for me and are thier any incentives for going EV, also i dont want to put much down at all like you say. My credit is 715+
@user-sh8li3qw4h19 күн бұрын
LEASING A car only takes 30-45 min Tier 1 credit is when a person lease more then 2 vehicles with on time payment history
@NA-zf9ms6 күн бұрын
Wrong and you can negotiate to tier 1
@jeanclaude8120Ай бұрын
Hey Naam! I want to lease a 2024 hyundai tuscon N like with no money down, but on the hyundai website it says $3900 down, $249 a month. I don't want to pay the hefty down payment. If i contact a broker could they help me avoid the down payment? I also have a credit score almost 900. Thanks.
@officialpajaro9608Ай бұрын
N line not n and plus for what shit n liine
@stevegoldberg32725 күн бұрын
Do I subtrack the manufacturer rebates and dealer discounts from the MSRP when figuring out the cap cost?
@NA-zf9ms6 күн бұрын
The cap cost is the negotiated price. Adjusted cap cost is after rebates and incentives.
@YAGYUYTАй бұрын
Hey Naam, I'm trying to lease a Acura Integra here in nyc. I dont want to spend more than $700 a month for my overall car cost. I have a co signer with 770 credit score should I go for it?
@darrylp693823 күн бұрын
if you need a cosinger you shouldn't be buying a car
@icecoldac318 күн бұрын
@@darrylp6938definitely understand your point but he’s not “buying” a car. He’s leasing a car. Why is he comfortable paying $700 a month for a lease that’s not a good deal. Leases tend to be cheaper than financing on a monthly basis $700 per month isn’t cheap. Shop around at other Acura dealerships to see if you can get a cheaper monthly payment for that lease and particular vehicle.
@NA-zf9ms6 күн бұрын
@@darrylp6938shut it
@ethanblue261Ай бұрын
How did you get that price on ioniq?
@NaamWynnАй бұрын
Got it though a broker
@jimbroome490616 күн бұрын
Thanks for your service to support and defend the Constitution!
@leos300325 күн бұрын
I don't make $500/day. I would love to go in to a dealership and save myself $1-$2K. I know you're a millionaire and your time is worth a lot more than $1K/day so I understand you not wanting to spend a few hours negotiating. But since I'm not a millionaire I will do my own negotiating. Even at $500 I'm way ahead since I don't make that much in a day and I can certainly go on my day off.
@manuvns12 күн бұрын
any car lease under 100$ ?
@NaamWynn12 күн бұрын
Check out the Nissan Ariya
@user-vo5sw2fc3oАй бұрын
Much appreciate the video. I'm a newer business owner with not a lot of cash, and my biz literally requires me to drive. So I think leasing may be the way to go.
@DR_Bloom86Ай бұрын
Just becareful with your miles.. Most advertised leases are 10k a year, but you can get 12k or 15k but will cost more usually.
@SmokyHitsАй бұрын
Is the 2024 golf R a good deal to lease 🤔
@NaamWynnАй бұрын
Probably not. Specialty cars like that are tough since there is a high demand.
@zali9657Ай бұрын
Hey I've never leased a car but i want to lease my first car. Can you give me some advice. I'm looking at a Kia EV6 GT to lease for 24 months and 12k miles a year The salesman told me 3,100 deposit (which included govt fees, plates, taxes) and the monthly was $430 How can i negotiate the monthly payment. With EV there are so many rebates so im confused
@NaamWynnАй бұрын
Go though a broker for the best deal and to avoid the headache.
@jerrylundegaard259225 күн бұрын
When you lease you negotiate the price exactly as you do with a purchase. To a dealer a lease is a sale. A sale to the leasing company at the price you negotiate. If you don't negotiate the price you will always make a bad lease. The price you negotiate should then be reduced by any lease incentive offered by the manufacturer. That incentive is between you and the leasing company (the manufacturer). Do not let the dealer steal those incentives. Also, make sure you review the money factor. Make sure the dealer is using the correct money factor. The money factor is essentially the interest rate divided by 2,400. So an interest rate of 5.0 percent is a money factor of .002083 (5%/2400). With good credit a down payment on a lease is not usually required. Dealers like to imply a down payment is required, even if you have good credit, as a down payment reduces the monthly lease payment. Residual value is the third number in a lease and it is not negotiable as it is set by the manufacturer and not the dealer. There is nothing magical about a lease payment. Knowing how a lease payment is computed is the best method to ensure the dealer does not fool you. The math is simple: Part 1 - (capitalized cost - residual value)/months of the lease. Part 2 (capitalized cost + residual value) x money factor. Add the two resulting numbers to get the lease payment.
@stevegoldberg32725 күн бұрын
@@jerrylundegaard2592 Thanks for this. When I'm figuring out the cap cost, do I subtract the manufacturer rebates and dealer discounts from the MSRP? For example, if the care is listed at 49k and the rebates are 15k and discounts are 1500, would I then use 32,500 as my cap cost? Or is it not as simple as that?
@jerrylundegaard259225 күн бұрын
@@stevegoldberg327 Yes it is that simple. The cap cost is the price you negotiate, including those fake dealer fees, less any manufacturing incentives for the lease. If you make a down payment (not recommended on a lease) the down payment further reduces the cap cost. You may also include sales tax (if applicable), registration and the acquisition fee (a leasing company fee not a dealer fee) provided the lender (the leasing company) approves the lease.
@ronaldcarnevale342427 күн бұрын
The best ever. Such good kinformation. BTW.... Its HunDAY....not hunDIE. LOL
@cessealbeachАй бұрын
KIA and Nissan are the cheapest to lease and NOT so reliable.
@NaamWynnАй бұрын
For a 2-3 year lease maintenance is rarely an issue
@DR_Bloom86Ай бұрын
under full warranty on a 3 year lease so no issues.