Looking at a special requiring cash due at lease signing. From what research I’ve done a lot of people say not to put cash down for obvious reasons.
When it is part of the special from the dealership/manufacturer, how do you get around the cash due at signing? Just ask? Have it diverted to MSDs perhaps?
Thanks everyone for any input. This forum is great!
It’s simple. You just say you don’t want to put any money down and your monthly payment increases accordingly. The manufacturer special offers aren’t that special so I wouldn’t bother looking at them
Great thanks! Wasn’t sure if terms of the special were non negotiable. I guess these “specials” are just incentives to get you interested and terms can always change …
There are 2 things that are almost always NOT negotiable
Residual. That is pretty much set in stone and can not be changed
Bank Fee: This is also pretty much set in stone by the leasing company. But you can try to lower it. However what often happens is the dealer marks up the fee, in which case definitely negotiate that. For example Mercedes has a $795 bank fee. But many dealers will mark it up to $1095. It’s damn near impossible to negotiate the $795 away, but you can definitely negotiate it down from $1095 to $795.
Everything else in a lease is always negotiable.
And I guess a 3rd item is sales tax. It is what it is. You can’t negotiate that away. Except apparently in Texas where the whole system is really wacky.
@BoardWalkNJ I agree that the advertised lease specials aren’t worth looking at.
The typical advertised lease special uses the current top tier MF, 10k or 12k RV and calculates whatever down payment is required to hit the magic $199/mo (or any competitive payment offer in the market). This is usually handled by the regional offices for the captive.
Also, the MF (buy rate) is non negotiable.
It’s MSD-able (for some manufacturers) , which is kind of negotiable. But that too can be marked up like the bank fee, so if it is, it’s negotiable.
Also DMV fees cannot be negotiated.