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Explaining Car Leasing to a College Student
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- čas přidán 6. 08. 2024
- How a car lease works in its most simplest form. In this video, I explain to a college student the basics of an auto lease, how the payments are calculated, and how credit approval works for someone with limited credit history.
I also touch on credit approval on a lease, lease end wear and tear, as well as maintenance.
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How an auto lease works, college grad car lease, limited credit history approval, getting approved on a car lease, auto leasing explained, car lease terms, how a car lease works
Good job Roman: you’re name alone is charismatic, very likable and genuine, good questions for Ari - a star is born.
Norb, Roman is the man!! thank you
Great job explaining this!!!
Thanks Ari- I went to purchase Toyota Camry with my “Best” friend who is friends with Keyes Toyota General Manager. The General Manager assured me that he will sell car at his cost. I said I drive for Lyft so cannot lease . He said no problem. But unfortunately I did not read contract and it turned out to be a lease. The lease expires in May. Lease from TFS. I did call dealership and the manager said I signed a lease contract- that is it! Never ever trust anyone at any dealership. Thanks Ari for all you do.
Great Video Bro!!!!
Fantastic video bruv...very informative, educational and thorough
thanks brother
So helpful!! Thank you Ari! 👍
My pleasure, and thank you Ms. Jones!!
Very informative video! I wish the car prices are as reasonable as you mentioned in this video! lol... Everything has gone up big time! Anyway, thank you for sharing!
4k subscribers wow! Another great video not at all surprised!
Thank you!
Can you do videos on:
Extended warranties on CPO vehicles like BMW.
Autonation and other no haggle dealerships
Where did the CPO lease programs go?
Great job,Ari!
Thank you Hankun!
Great job on this video. Lot’s of great advice in this video.
Thank you :)
Great video, thank you! I’ve been getting quotes from a handful of dealers. I have msrp, cap cost, residual, money down options but none of them have shared the money factor. Do I ask them for it or just play all of the dealers off of each other on the monthly lease price? Do they lie about the MF? Thanks Ari!
Is the money factor reflected in lease with a “rate” or an actual cash amount? I was reviewing my lease and it shows as “ Rent Charge” $500
Question! In regards to the wear & tear waiver. How much additional cost for that? Also does every car make offer this or only certain ones? Personally looking to lease a brand new Honda Accord. Thanks in advance!
Ari, With your connections to dealers do you know if Kia Forte 5 GT manual transmission to USA.?
Hey 👋 great video love it !! I have a question!? I’m about to return a lease car ( RX 350 F sport Lexus ) after 4 years .. I want to buy it ( but had 2 accident on it .. that Wasn’t my fault .. and been fixed .. still value is Down .. how can I negotiate a better payoff ? I called Lexus .. they said no clue !! Thank you you much for your videos love them
Do you always multiply the money factor by 2400, no matter what it is?
Hi Ari, I am currently leasing a car now and it’s only been a year and I want to get in a different car to lease. Should I tell the salesman that I simply want to get out of my lease before we start negotiating? Or just keep quiet and after we’ve discussed number about the new car? LMK thanks!
Ari, keep it up.
I want place the 19 VW GLI on your radar. I lease a Civic Si right now but the VW looks good.
Dave.. no problem... I am hoping the program gets better in the coming months..
Dave Ortiz how much you pay for the SI per month with everything included?
Video on jaguar XE S AWD
Great info
Thank you :)
I've been watching your videos but cant seem to understand the negotiating between the residual and how much you're paying for the lease. Are we negotiating the MSRP to the specified residual value of the car AFTER our term ends?, because my dealer has provided a "buyback (residual) number to me. Or are we negotiating the total lease cost for the term? (including money factor interest)
I always put down $2.5-5k in a lease depending on the sticker price. 50k and under I do the $2.5k.
Can a car be returned right after leasing if the person that jjst got had no clue they are just renting it?
New subscriber here, loving the videos👍🏻!! Do u think one can still get a good deal on newly release models, like the (2019 Mazda 3)? What do u think is a good deal on that for purchase ??
Thank you Sulley :) I may have you ask me again via a list I'm going to have going on the Community tab. Keep your eyes peeled for it.
I graduated from a technical college in December of 2019, would I qualify for this
What would actually be helpful is if you made a video with what would be the actual process if someone was to actually have you work a deal for them. You locating the car. What information the customer gives you. Do you file a credit app first. How you handle trade ins. Just questions i have because i am intending to have you work a deal for me and these are the questions i intend to ask so i would imagine others might have the same questions too. I think that would make a good video for you to make sometime in the future.
Tayshawn.. that sounds good.. I will definitely make a video regarding my service..
@@negotiationguides auwesome! It just seems like you offer a great service so i think more people definitely want to learn more about it!
Congrats on 4k!!!
WOO!!! Thank you Michael :)
What's the 2400 stand for?
Subbed .
Can you recommend leases for people who need 15k mileage a year? Coming from central Florida, we drive a lot. Usually luxury deals are out the window at that mileage, but there has to be something with a strong enough residual to handle the miles.
Soon, yes!!
It is important to understand that the dealers have the liberty to charge whatever Money Factor they want above the buy rate. They can can markup the MF even for people with perfect credit and most of the time they try to do that. Everyone should make sure they are getting the buy rate for the money factor.
They can. That's why you need to know ahead of time what the money factor and residual is on the specific vehicle you are interested in.
You stated that everyone should make sure they are getting the buy rate for the money factor... is that including people with low credit ?
Rolando Nunez honestly dealers are free to charge almost any Money factor they want. If they want your business bad enough they could give the buy rate to someone who doesn’t have great credit. However, if your credit really is that bad then they certainly will want to mark the MF up.
Just to add to what mpeg is saying... the buy rate at each Tier / Credit Score range is different and it generally goes higher and higher depending how bad credit is. Even if the dealer sells at the buy rate for the Tier you qualify for, it may be a very high buy rate to begin with.
@@LearningFast okay I'm completely understanding now thank you so much one more question can you negotiate the money factor? I heard pretty much everything is negotiable or everything is up for negotiation depending on what it is this true?
What is the highest residual you have ever seen on a 36 month lease with at least 10k miles per year?
The Tacoma is one that's definitely high up on the list, but it's got a fat money factor to compensate around .00250...
Ari Janessian I had 65% on my Mercedes CLA250 back in 2014. The money factor wasn’t great at .00162 but that isn’t as bad as .0025.
When I ended the CLA lease I got the car appraised and it was about $6000 under that really high residual. I just handed them the keys back and went on my way.
Hello,
So on the end of the video I have a question. When shopping around dealer to dealership how do we know if we’re getting a good deal on a lease especially if going to dealer to dealer they have to run credit X amount of times and it will affect credit scores. Most people just like to walk into one dealership and negotiate with the dealer. That shit takes up a whole day to sign papers Lol.
This is a good question. First, if you have your credit pulled from multiple dealerships in let's say a couple day period of time, the credit bureaus do not count this as multiple inquiries. They only count it as one (that doesn't mean you shouldn't check that tough...always be aware of what's going on with your credit). However, you should really do your research up front to know what vehicle you like, as well as what the true residual and money factor is (if you are leasing for example). It may be that the vehicle you like the most, just isn't the best lease deal and you need to decide what's most important to you. Once you do decide, then you can negotiate the best deal. You have to know what your credit scores are. AND, I would call the dealership that you plan on using and ask the finance manager what credit score they will use in pulling your credit. There can be differences in each bureau. And keep in mind, don't rely on things like Credit Karma etc... You need to know what score the dealership will pull specifically (like FICO auto score 8 using Experian data). Once you know these things, you should be able to figure out your deal and know for sure if a dealership is screwing with you or not.
David thank you! I was about to respond to this comment with the same information!
@@negotiationguides Sorry Ari, I love this stuff. I'll try not to step on your lines!
No I was about to ask if you want to be an admin soon haha
Ari, I have been to your website and have left 3 messages to contact me about your services. What does it take to get a response from you? I live close to NYC.
William,
I responded to your quote request ...
When you filled out the contact form, I think you put one too many l's for your last name
You're right, my bad. I will respond to your forwarded email. Thank you.
Congratulations 4000
Thank you!!!!
good stuff man, I knew shit about leases before. Now I know a little more shit!
hahha.. thank you
Thats his son? Wtf looks ari looks like older brother
Not my son! LOL
OMG, Roman is hot! I want him.