Throw a wide net, email every dealer that has the model you want in a 50 mile radius, some will respond, others won’t. Keeping widening the radius until you have 2-3 interested dealerships and work them.
The object is to not step foot in a dealership until you have the entire deal agreed to in writing, either email or text. If you shoe up and the reneg, be prepared to walk quickly.
What I usually do is search on Cargurus within 100 miles for the year, make, model, trim and colors I am willing to accept. From there I send out requests for several through the Cargurus site (with no phone number attached) and add the following comments: Hello, I’d like to have a sales manager email me with the current selling price before any rebates and incentives are applied on this (insert car name here). Thanks in advance for your time." The ones who can’t follow that simple request (pregenerated spam emails, “when can you come in”, “wanna take a test drive”, etc) probably aren’t worth my time, or might be worth circling back to if they are closer to me once I have more data regarding pricing. Then its Hammer time and I push to get someone to beat my best price. I’m also using the LH calculator during this time to price out the lease, and confirming those details with dealers to make sure that they aren’t pulling any fast ones. Also its important to let them know that you know the programs, you know the incentives and interest rate, so they are less likely to pull any tricks. The tricksters at this point will most likely renege on the pricing, or refuse to get pinned down in writing.
Ok so we are trying away from the crv as my wife wants a wrangler. Deal I got so far first attempt
2020 wrangler sport S
Tech package
Leather option
Cold weather package
Hard top
MSRP 43,320
Selling 39,826
7500 mileage
39 months
MF .00180
Residue 32,932
403 a month including tax.
1st month and DMV dos
Thoughts?
If I can get him for 403 taking my civic it would be a good a deal. Let me know your thoughts.
Thanks,
Joe
leasehacker calc score shows 10.1 years. FYI
Leasing an fca product beyond its warranty period sounds like a recipe for disaster.
LH score is irrelevant and a poor metric for evaluating a deal.
I agree on the LH score. As for the 39 months I’m not too worried as the mileage will be low and I have had Jeeps in the past.
350/month (inc tax) is the lease payment I get on bankrate. 390 is the price I’d be willing to accept giving they take my civic which is underwater by 3k. The extra 40 a month is half the difference of the 3k. Let me know what you think.
Have you gotten estimates on the civic from carvana, shift, vroom, etc or only going off what the dealer is offering?
Yea I put in to KBB, edmunds, caravana and true car. They are all around 16-18k trade in value.
I made a sh*ty deal on the Civic. I know I’m gonna have to eat the difference. I don’t really want to keep it until the lease end in 2-1/2 years.
So if can get someone to give me a decent trade in value I’ll pull the trigger. I just don’t Know if the Jeep deal is good. The residue is crazy high at like 75% but the MF is at 4.3%.
They said the 39k (selling price employee pricing) is under invoice of 41k. Could be bullsh*t but I’m waiting for him to send me the deal in writing.
Do you really want to pay ~5% interest and sales tax again on the civic? If you have to eat the civic negative equity, pay it off separately.
$39k may be under invoice, but invoice these days is just an artificially inflated number that’s there to make consumers feel like they’re getting a better deal. It’s not actually their bottom line.
The quote you received, does that include rolling in the negative equity from the Civic? You had mentioned several things in your original post, 1) You needed a vehicle that could transport things that the Civic couldn’t for work. Are you sure that a Wrangler will be able to do that? They are fun, small 4x4 vehicles but not necessarily the most utilitarian. 2) Related to work usage, are you sure that 7500 miles a year will suffice between business and personal use? 144 miles a week is not a lot and you could blow through that fairly quickly if you are using the car daily. Just some things to consider.
The wrangler would be for my wife. We currently have a highlander that has 13k miles on it after 2-1/2 years. I would take that car for work for the next few months because I have mileage left to burn. Highlander is plenty big for the cargo I need to transport.
They called back and don’t want to do the deal with the civic. Best would be 385 sign and drive without the trade. ( could probably go lower but didn’t push any more).
Really don’t have any options without getting rid of the civic. I don’t want to have 3 lease payments. My only option would to buy out the civic and then try and sell it. (Or sell it while its still lease if that’s possible).
I guess I’ll keep working dealerships to see if someone is willing to accept the trade.
Carvana/shift/vroom/carmax are good options for this. They can buy the lease out directly and will generally give you a good bit more than a dealer will.
So Honda said they would do a passport awd ex-L at the following
Msrp 39,880
Selling 35,452
15k/year
48 month ( yikes).
1st month and DMV DOS
Take the civic
549 month.
This was really light negotiation. Sales guy said we can go into upper 400’s easily
Prob do 450 a month best deal.
He is texting me the sales sheet tonight.
The CR- V is too small for the stuff I carry.
Thoughts.?
So are you back to a vehicle for work for you now? This is really confusing because you said that high mileage wasn’t a requirement before due to your wife’s driving needs and the availability of a different vehicle for work. Regardless, I don’t think anyone here would really recommend a 48 month term on a lease, you might be better off just buying it if you are gonna go that long, especially on a Honda. One of the biggest advantages of leasing is staying away from most, if not all the maintenance and repairs of car ownership, particularly the out of warranty stuff. If you are going to go forward and lease something that fulfills your work requirements I’d sit down and think about how many miles you need for that, and cross shop vehicles around the same size as the Passport, find out which ones have the best leasing terms right now for 36 months (to roll in the negative equity and stretch it reasonably). Find out what has the best residual and money factor, for a 36 month term based on your mileage needs, as well as the most rebates you qualify for.
Yea sorry I should have specified. The Jeep deal is dead as they don’t want to deal with the trade. She is re-thinking the wrangler anyhow so we will just wait until the highlander is closer to going back.
The passport would be for me for work. ReThinking Honda as they might give me the best trade in deal and the passport fits the bill perfectly.
I definitely do not want to do 48 months. Way too long. 39 would be the most I’d do. I want to keep total MONTHY car (both) payments to around 700. Where I’m at now.
I know for sure the car-v and like sizes SUV won’t really cut it for me. So now I’m in passport/ highlander/ Grand Cherokee territory.
I know I don’t have the spec sheet yet with the breakdown yet. But would 450 a month 15/36 be a good deal?
I believe there is 1k loyalty incentive in there as well.
There’s no way of telling without having the full breakdown showing the dealer discount, residual, money factor and incentives. I’d maybe compare the Mazda CX-9, GMC Acadia, Chevy Traverse, possibly even the Nissan Murano. As a general rule Hondas and Toyotas don’t lease particularly well unless you are going with a third party bank that’s using very high residuals, but that’s usually on Toyota trucks. You really need a manufacturer that’s providing a good amount of rebates to help absorb the negative equity, on top of a big dealer discount. The trade is the trade, I’d be surprised if a Honda dealer is going to give you a better deal on it. If anything they might stiff you since they will most likely certify it if they keep it and it’s in good shape, which costs them money to do.
If you’re in New York you might want to reach out to @Swift and see if they have something that will work for you including your trade or grounding the Civic early.
I’ll reach out to swift. ( whose is swift? Lol ). Honda was using a third party back they said. I didn’t think of the Arcadia. Worth looking into.