Current Market Situation - What is a good/average deal?

Ask the Hackrs
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1

Hi! Thanks to leasehackr I signed my first lease in June of 2019 for BMW X4. At the time I got a discount of ~12% which was average for the time.

Now I am helping a friend to signed his first lease but clearly the market has changed for several reasons (chips shortage, strong demand, low inventory, etc)

I was wondering what is today a good/average discount and which brands are offering the best deals. Looking for an SUV

Thanks

2

This is too broad. Do your research.

It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

  1. Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
  2. Pick a specific vehicle that you want to target
  3. Gather the current MF, RV and incentives from Edmunds forums for your zip code
  4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
  5. Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
  6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.

5

Why can’t your “friend” post their own question? The best advice for most people like you that post random shit, sign first, ask later.

6

My question was general but that was the idea to start focusin on doing the homework.
I did ton of reasearch in 2019.

In 2019, BMW and Volvo were offering great deals and for a new car a discount between 10 to 15% was consider a good deal. Now I was looking at singed lease and there are not many, at the time everyone was sharing his deal and publish great pictures about the cars.

Anyway, I was just trying to focus and decide if I would help my friend going with a BMW, Audi or Volvo, MB, or a brand that I was not considering.

7

and @Qbrozen you don’t have to be so rude, you can always help to growth the community

8

Qbrozen wasn’t being rude, just pointing out the basics on an “asking for a friend” thread.

9

Man, if you think someone giving you step by step instructions on how to save you thousands of dollars and find you the answer to your question is rude, what do you consider nice?

10

What brand/model? What is your friend’s budget? When are they looking to lease?

11

Ok. Thanks for doing the copy and paste.
I said rude because he wanted to close the post, but for some reason it was keep it open.

Surprise about the response for a Sunday morning.

Just wanted to have some color on the current market. Again I know everything that he posted. I signed a deal in 2019 (you can search the forum). Maybe not an expert but good enough to do my own deal with the help of this community.

I will post deal details when I have one.

12

Thank you!

500/month nyc is this reasonable in today’s market?
Bmw, volvo, mb or audi
X3 ?
This month

Thanks

13

If he wanted to close the post, it would have been closed. I’m guessing he hit the button accidentally and then immediately undid it. I’ve done the same before.

We have have the shared deals section here specifically so that you can pull data points to answer this question.

14

What have you found while looking in the shared deals and marketplace listings after adjusting the data for your personal situation?

15

Probably unreasonable. Are you or your friend also factoring in money due at signing?

Check out broker deals in the “Marketplace” for some guidance on current pricing.

16

500 a month will get you a Highlander, maybe a ‘20 MDX, Jeep X4e

17

Thank you!

18

Thanks

I was surprised about the few deals were signed in the last 3 months

19

The market is rough right now. You can also pull from the marketplace listings for datapoints.

20

Not being rude, sir. What I do find rude, personally, is someone saying “give me an SUV deal.” Your follow-up narrowing down the brands and price was far far more helpful and, if in the first post, could have been met with a different response. That first post is like me going to a doctor and saying “something hurts, but I can’t tell you where, how much, or for how long. Fix me.”

As someone else said, me closing was a slip-up, obviously since I immediately re-opened. And I’m glad to see you have been able to narrow your query and get some info.