As opposed to what, the truth? Either way do you GAF?
In other words he hasn’t found a single retail buyer for this car. And that’s supposed to create some leverage on his part? GTFO
But more important than all that, in your prior posts you said you’re a new graduate trying to buy a used/CPO Giulia. Did no one in your friends or family smack some sense into you?
2 posts were merged into an existing topic: Leasing Loaner Giulia 2023 Veloce RWD
If I intend to pay just the FIRST MONTH, DEALER DOC FEE, and DMV FEES upfront, and roll the ACQUISITION FEE and SALES TAX into the monthly payment, how do I negotiate with the dealer and hit my desired monthly payment WITHOUT revealing it?
Do I jut need to negotiate the SELLING PRICE and MONEY FACTOR until I hit my desired monthly payment?
Should I have the LEASEHACKR calculator ready to go while sitting across from the salesperson?
First step is establishing a well researched target deal. Is your monthly payment target actually realistic?
From there, just make the dealer an offer. Tell them what youre willing to pay for monthly and due at sale. Be able to substantiate how you go to that number.
Most of the time, sharing a calculator link is a gigantic waste of time.
Never share the LH calculator with a dealer.
You priority is focussing on the discount off MSRP of the vehicle you are interested in. You can structure the deal any way you want. It does not matter to the dealer whether you plan to pay first month’s and some fees at signing, while rolling taxes into the monthly payment.
What’s the mystery vehicle you are looking at?
Know the residual, money factor, and any incentives you may or may not qualify for. Next, plug the information into the calculator and determine what selling price is needed to get to your target. Research whether such a discount is realistic. If so, contact sales managers (via e-mail) with specific unit #'s and give them your offer. Be prepared to back up your offer with how you arrived at the number. Don’t mention LH.
Really appreciate this information, thank you.
Where can I get a general idea about the RESIDUAL and MONEY FACTOR? Can dealers adjust both items to either inflate (or deflate) the monthly payment?
Also, is there a way to calculate the MONEY FACTOR they are using while I’m at the dealership?
My credit score is 792. The manufactures I’ve been considering are Hyundai, Mazda, and Toyota. The MSRP range I’ve been considering is between 26,000 to 31,000. With only FIRST MONTH, DEALER DOC FEE, and DMV FEES upfront, I’m trying to figure out a realistic monthly payment.
Having current, accurate information for residual value, money factor, and incentives is important in understanding your deal. As such, going directly to a source that has access to that data from the captive banks is your best option.
Rate Findr has that information, as they have direct access to it from the captive banks. It’s a tool on the Leasehackr Calculator, available to Super Supporters.
Despite how much some people dwell on a marked up money factor, it’s really quite irrelevant. If they get to your offer, then who cares if they do it at buy rate or give you a larger discount and make up for it with a marked up money factor? It’s really only an issue when people ask for a quote, then hyper focus on the offered discount rather than the holistic picture.
Why are you focusing on MSRP? There are $40k cars that lease better than some $25k cars.
Rather than list your upfront costs as a sum of some fees, establish the due at signing you want, in dollars. That way you’re normalizing your costs.
If I establish what I’m willing to pay upfront and they come back with a monthly payment that is higher than my desired (and yet to be revealed) monthly payment, how would I counter that?
Also, can they inflate the monthly payment by lowering the RESIDUAL VALUE percentage?
I’m really heeding all the information you all are sharing with me, because I know I will be going to war with these dealerships. Sad it has to be this way.
You thank them for their time, and move on to another dealer.
You should expect most dealers to say no.
Why do you randomly capitalize key terms in your posts?
The dealer can not change the residual value. It’s set by the bank for specific terms.
Its only a battle if you let it be a battle.
You’re doing it wrong. Use the LH calculator to get the DAS and monthly payment you want. Use their quote to get the dealer fees, docs etc. Here’s what you send them:
VIN:
MSRP: $
MSRP discount: $ & %
Incentives:
Doc fees:
Other fees:
Total:
MF:
DAS:
Term: … months
Miles/year:
Monthly payment:
Either they accept it, counter offer or say no.
A. Have you looked at Marketplace ?
If you establish what you are willing to pay, why are you not revealing it to the dealer when you make your initial contact? Either they will accept it or they won’t. Will be no need for a counter at that point.
You need to spend more time reading on the forum. Your current and future questions have likely been asked and answered dozens of times.
From the research I’ve done thus far, I’ve read to never reveal your desired monthly payment. Focus on discount off MSRP until you reach your number. From what I can tell, it seems like a dealership can manipulate various parts of a lease to get you to your number. Maybe they will take little to no profit to hit a big monthly incentive from the manufacturer. Maybe there’s an untaxed incentive that month that a consumer is not aware of.
Anyway, I will take your suggestion and spend more time reading the forum.
Appreciate your time.
A discount off MSRP means nothing if the dealer raises the money factor, includes a bunch of BS add ons, etc.
You should establish how much of a discount at base money factor is feasible. Upon building the calculator yourself and determining what the monthly should be, there is no reason for you to not disclose that to the dealer upfront. It will save you and them a lot of time and aggravation.
At the end of the day, the monthly/DAS combo is all that matters - it doesn’t matter how the dealer gets there so long as they get there. But I’ve found that managers especially are more willing participants when you are upfront and transparent with them regarding your goals.
No one here will ever tell you to hide your monthly payment. Forget everything you learned on reddit or YouTube, you are now in the right place. Take it all in and absorb the feedback here.
This makes a LOT of sense to me. Thanks!
If you have worked out what the lease programs actually are and put together a target deal, then you know what monthly payment/due at signing amount you get for a specific discount, without any other hidden shenanigans going on. If they agree to your monthly/das offer, then it doesn’t matter if they moved things around.
On the other hand, if you only negotiate discount, there are many ways they can manipulate that into a higher monthly payment.
What you should never do is just say “I want $x/mo” without further context. Either negotiate based off of monthly AND das or fully define EVERY number of the deal. Anything that is not one of those two extremes leaves room for ambiguity that will always fall in their favor.