If you don’t ask for 10%, you’ll never get it. Sedans aren’t popular right now, so I’d push your luck and search out higher discounts.
Are they using a higher MF than the base MF from Edmunds?
I usually go with the tactic, the numbers you provided are wider than what I was comfortable with and if you think we can bridge the gap, I’m happy to continue working on finding a medium where it is mutually beneficial for both parties. Generally they may come back with their Best and Final (Not really their best) and if it still isn’t strong. You can just walk and normally they will come crawling back near the end of the month asking if you are interested and at that point you resummarize why it didn’t work out and say if you can get to X number then I will sign today.
But your tactic is to reach out to as many dealers to see which one is willing to play ball and eventually one of them may get to a number you are comfortable with near end of month when they try to reach their sales quotas.
They are using buy rate on this deal
Deal sheet that OP posted shows an MF of 0.00153.
Please see my edit. They originally posted 0.00153 but lowered it to 0.00113 when I asked.
I’m in a little bit of a weak spot because I initially started negotiating from 5% off. Between $500 extra on trade-in and $1000 off selling price I’m basically at 4.6%. They’ve almost given me exactly what I asked for. How can I go back now and say “actually I’m holding out for 10% elsewhere…”
Seems scummy of me
That’s what I would do if I were in your shoes.
Also figure out which trim lease best, sometimes a more expensive or different package etc has a better residual MF etc.
All you have to say is, Appreciate the upfront and forwardness on our deal thus far but after careful consideration, this car may not be the best car for me financially. I was able to get a substantially stronger offer on another brand car that is comparable to this. Ultimately, if you believe you can get the deal to XX then I’m happy to reconsider but if not, appreciate your time and hopefully we can get a deal done in the future.
In terms of XX, just plug in the numbers on the calc with the assumed discount you would be comfortable with and present them with that number as a final best.
the problem is I would have been comfortable with the initial deal
I just wanted a sense check to see if I was being a sucker. This trim is the only one I’d be interested in. Otherwise, I’d go to another manufacturer altogether or continue driving my Fiesta till the wheels fall off
Thanks for the help, everyone
It doesn’t hurt to ask for more, the worst that happens is you are back to your original deal? You need to be ok with walking away from a deal in the effort of getting a stronger deal when they are in a pinch and know they have you 90% of the way there and all it takes is for them to offer you a slightly better deal. All the legwork is already done, they just need to reel you in for the final catch.
So present them with a better # and see what happens, if they meet you half way and you are ok with it. You are better off than where you were before plus you are no longer putting downpayment.
Not really. You need to separate out the extra cash from the trade-in. The $1k off MSRP equates to only a 3.1% discount. You should be focussing on the pre-incentive discount. Good luck.
Listen to @dloco, he’s spot on. I’d contact more dealers and plan on pulling the trigger that last week of the month. I don’t see these things being hot right now, I bet some other dealer would double the discount you have now, don’t feel bad about giving dealers the run around, it’s just part of the game. In a couple weeks they won’t even remember who you are and the sales staff could have changed already. How many dealers have your contacted so far?
thanks guys. I’ve listened to your advice. That was the first and only dealer I contacted. I’ve now sent e-mails to 4 other dealers
One more question… why should I be more concerned with selling price vs. inflated trade-in? Already a couple have answered that they’ll match/beat deals presented to them but the easiest avenue is by offering more for trade in.
Is the reason due to interest over the 3 years?
That means nothing. Dealers say that all the time.
A couple of points:
- Since it looks like you live in a state that charges sales tax, you pay tax on the selling price of the car (since it is a lease, sales tax is added to the monthly payments).
- It is best practice to separate out those two transactions so that you can tell whether you are getting a good deal on the lease.
- Again, your focus should be on the pre-incentive discount, combined with getting base MF and the manufacturer lease cash.
As for your trade-in, I would suggest checking out companies like Vroom or Carvana to see if they can match or beat that $4500 offer.
There is a lot of valuable info on this forum. My only other advice is not to rush into any deal. If something does not make sense, ask the dealer/sales person. If they are not being forthcoming, then walk.
Just read through this thread and a lot of good advice. I think you are right to reach out to more dealers, but I wouldn’t stop at 4. Use google maps and open all the dealer websites and shotgun your template email to all of them. There is no reason to reply immediately, play the game - but don’t waste their time. You want to allow some time for other dealer responses so that you can take offers and try to get them to compete against one another.
My experience last month with my Bolt deal: I had emails out to 20 dealerships from Los Angeles (home) to San Diego for my initial search (took about 30 minutes on a mobile device). Of the 20, less than half responded in a timely manner. Only 3 of them were willing to compete on the sales price. One dealer responded with “Great deal, enjoy your new ride” when they saw the sale price I was offered.
Any update from other dealers?