Car Lease Ads are Fooling You. This is what you need to know.
We have all seen countless TV lease ads highlighting a very low monthly payment.
Why do they make me crazy? They advertise unachievable monthly payments.
So here is the transparent truth.
That $76/month or 199/mo vehicle is usually not the pictured vehicle on the ad.
That lease highlights a model car that might not be the one they show.
They might highlight equipment that might not be equipped with the base model features.
These ads are usually National Ads,
but don’t account for regional offers, limitations, and most importantly state tax.
I repeat! Those ads do not include sales tax.
This is because most states vary on sales tax.
So off the bat, the payment advertised is not possible.
A second reason these ads make me crazy, the monthly payments advertised
include every and all available rebate offered by the manufacturer, yet not everyone may qualify for all rebates.
Here’s an example.
Rebates for Military Appreciation, All American Kennel Club incentive, and Competitive Cash incentive
might be included in the advertised lease.
Although some customers qualify (thank you to those who have served our country!!),
others do not.
Next, the ads you see are based off a low yearly mileage lease.
Although there are other offered mileage options that are great,
some all the way up to 20,000 miles a year, not everyone will only travel the advertised 10,000 miles a year.
Lastly, even though the advertised payment assumes all the incentives
whether or not the majority of people qualify, they also assume a chunk of money down!!
Which of course, reduces the monthly payment that is shown.
Even though these ads serve a purpose to get people enticed
to a low monthly payment, they are unrealistic and it makes it look like the dealer
that you go in with the expectation of a low monthly payment that the dealer can’t make happen.
It makes the dealer look dishonest.
Is leasing bad?? Heck no! Leasing is actually brilliant!
In fact, if I were to make a deal on a car today I would lease without question.
But I think that the payments advertised should be way more transparent to make for a better experience.
What do you think? Please comment!