Tuesday, February 26, 2008

Evaluate Your Lease With Shrewd Lease

Lately, I have been tossing around the idea of leasing a new Ford Mustang. The problem is that I have never leased a vehicle, so I am not too savvy when it comes to leasing. I needed to find a place that would show me the different factors I need to look at when shopping around for a car and help me compare lease offers so I can find the one that meets my needs. In other words, I needed to find some sort of Lease Tool. So, after doing a little digging this morning, I came across exactly what I was looking for.

Shrewd Lease allows you to enter all the numbers involved in leasing a vehicle, such as the manufacturer's suggested retail price (MSRP), monthly payment, annual mileage allowance, etc. It will then evaluate all the numbers and generate a report and calculate a Shrewd Lease Factor. (If you're not sure what some of the numbers are, Shrewd Lease explains them in a way that is easy to understand). The Shrewd Lease Factor is extremely helpful in evaluating your lease offers. If you get a low number, you should look elsewhere for other lease offers. For instance, the Shrewd Lease Factor I got on one of the lease offers I found online for a 2008 Ford Mustang was 3.91. As you can see, according to the graph below, that is way below average.

Not Shrewd Average Very Shrewd

My report gave me advice on what I should do about this low number:
"Your ShrewdLease factor of 3.91 is way below average! This lease offer could not be considered anywhere near a shrewd lease! Unless your dealer/lender can come up with big improvements, ShrewdLease suggests you find a different vehicle, dealer or leasing company. Bear in mind, the car itself may not be completely to blame. It could just be the lemon of a lease. Your hard earned money will be better spent elsewhere!"
Throughout the report, there are explanations about terms you may not understand, advice on what your numbers should be, and tips on how to negotiate lease offers with dealers. If I had not run across this site, and analyzed the numbers, I may have thought I was getting a good deal, simply because I am not knowledgeable about leasing. I may as well have thrown money out the window! That is why this site is so important to me and others like me, who have little or no experience with vehicle leasing. Shrewd Lease is an excellent place to start if you want to learn how to become a shrewd lease negotiator. And it's free, so I urge you to visit this site before you make any lease decisions.

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