Hi everyone, I’m finally working on getting deals for a new 2021 Hyundai Santa Fe SEL AWD with Convenience Package 12k/36 and had been offered to turn my current 2018 Tucson Limited 15k/36 lease in earlier than August and way under mileage. I wound up walking out of the dealership where I got my current vehicle because their number was laughable at, I did get to test drive the car though.
I just spoke with another, much closer, dealership and they’ve given me the following offer and I’m totally happy with the monthly payment of $325 and I’m trying to figure it out on the calculator since they have $2,825 due at signing – I had told them I only wanted to do the first months payment and taxes but I also know I have remaining lease payments. Would I be able to do better than this or just go in?
You’re really going about this very backwards. Forget about any dealer offers you have in front of you.
You need to start by determining what your target deal is for the new vehicle, independent of any trade.
Then, you’ll want to determine what equity is available in your current vehicle, independent of any new purchase.
That’ll let you maximize the value on both sides. Getting focused on a monthly and trying to back into a DAS amount without any of the above information is setting yourself up for failure.
My target deal was for $30,780 which is 10% off msrp which I was able to do for my current vehicle. I have about $1,600 in lease equity which I’ve learned here to treat as separate and have them cut me a check. I’m also wanting to see how they took my remaining payments.
My other dealership’s paperwork was ridiculous and I forgot to take a picture but after 10 minutes of negotiating with them they told me they were applying all rebates and incentives towards my remaining payments and I walked out
Ok forget 30,780 - I just researched again via KBB and got $31,125 - $33,222 = starting point for this dealer is $32,369 via email. I’m going to just see if they can come in any lower.
Don’t do that. Spend some time researching comp deals and marketplace offers here to determine an appropriate target. Kbb numbers rarely represent an aggressive deal.
