First time negotiating a deal, first time buying a car at all. Let me know how I did!
Basically, my goal was a 500/mo payment, and giving the dealer nothing but my old car and 0 down. Trade in went to cover all government fees etc, and excess went to MSDs (5 in total). The dealer made a big show of how little profit he was making, including showing me his screen that didn’t look intended for customers, with negative profit. Calculator says 10.4 years, so I guess not the worst.
He did mark up the money factor, but showed that it was either mark up money factor or make his profit column a zero (instead of -2k). Payments worked out cheaper with a marked up money factor. This was the part of the deal where I wasn’t sure if I really could do better or not.
Love the car, would recommend the dealer / salesman. We sat on the leasehackr calculator together and made sure everything added up.
Thanks to the leasehackr calculator + ratefindr for helping me navigate things, especially knowing when I had a good deal in front of me and knowing what was/wasn’t negotiable (residual).
Again, please let me know how you think I did!