Brand noob here. I’ve perused the forum and other websites and have researched a bit about RVs, MFs and the vehicle I’m interested in. My question is more about process.I know I need to negotiate a final sales price for the particular vehicle before bringing up leasing options, but my experience buying and negotiating a price for vehicles in the past almost always includes all sorts of financing questions before getting the final price established.
My plan was to establish a final price via email with then internet sales team if I can, then spring the lease on them- stonewalling any sort of financing questions.
I’d love to know what some of the more experienced people here think about this part of the process.
Thanks, this forum has been a great help. FYI I’m in 37201 and looking to lease a 2017/2018 Toyota Highlander Limited.
I have excellent credit (over 800) , job etc.
If I understand your first post correctly, dealership employees are asking you a bunch of questions about how you are financing the car?
The way to shut that down instantaneously would be to say, “I will be leasing and I will qualify for the top credit tier (tier 1 credit)”. Do not let them run your credit until they’ve given you terms you would accept.
Be careful just negotiating sales price without mentioning you are leasing because the price can be different for legitimate reasons. However, you are correct that negotiating the sales price is what matters most - almost everything else is fixed. Just make sure you know the residual, money factor (with no mark-up) and lease specific rebates as well. All those combined will give you the keys to the lease price.
This is why I would always let them know you plan on leasing up front… certain programs, discounts, etc. are not interchangeable between leasing and financing.
As far as rebates go, you’re still negotiating the sales price independently. The sales price is what the dealer will sell you the car for. Then on top of that there may be rebates that apply only to leasing or only to buying or only to financing or whatever. But the negotiated sales price is independent of rebates.
I agree with the above posters and do tell the salesperson I am leasing upfront. I still negotiate the sales price though and always ask for a price before any incentives, just so there’s never any confusion.
Should rebates/incentives be included in the sales discount or no. Someone told me in the past that dealerships are reimbursed for these.
I agree with what everyone else has said and will add that money factor markup, at first I was naive and think why would the dealerships do this and then i thought oh yeah because they like to screw you, so if you can find the accurate money factor that will also help and in the case of multiple security deposits you wont be buying down a marked up money factor.
The conversations can be good ones, if it doesn’t make sense for the dealership (day end goals, weekend goals, month-end goals, personal goals, etc…) then they won’t make the deal. Sure it takes a little bit of luck on this aspect even if you are equipped with everything possible, if it doesn’t line up it doesn’t line up (don’t beat yourself up about it).
Thanks everyone, great feedback.
My main concern was going through the negotiations and then pulling a fast one on them. Thought that may trigger some sales people and make them less willing to work with me …