I just turned in my 17’ Cadenza, I was getting called by dealerships trying to get me in a 2019. The leases on the 2019’s are terrible! One dealer offered me one for $575/mo! 3 years ago, I got mine for $405/mo with 0 down tax included (that was before I knew about this site). The numbers back in April 2017 for 36/12k were 52% residual, MF of 0.000375 and $4000 lease cash.
It looks like the residual value dropped to the floor and the MF went sky high since. Look at Mercedes or BMW if you want a good lease on a mid-size sedan. 5 series and E-class loaners can be had for pretty cheap!
I mean leasing from a private individual or whole-sale place. Not even sure that is possible without going to a third-party for financing, etc.
I imagine I can lease electronically from a dealer or manufacturer, but they go out of their way to force you into the dealership and to make things complicated
The idea is to get all possible negotiations done via email/texts before walking into the dealership.
Do your research, lock in your price/payment goal, get multiple quotes without wasting time at dealerships and negotiate from the position of strength to get the deal you want.
yes, but I’ve ben having some trouble getting people to talk to me electronically, and the RV figures from Edmunds were incorrect, which causes a problem if I want to figure out good pricing
I’m going to make a suggestion for a path that might be a bit easier for someone just trying to get the hang of this and not yet settled on a car. Go to Rodo and sign up, then surf through their offers and look for good deals on cars you like. This will at least narrow down your search parameters. Right now, you are looking at cars in person and then praying they are leasing well. Find out what is leasing well FIRST, then go check them out.
When you have settled on your target, visit the websites of all that brand’s dealers within 50 miles, pick a car from their stock, and email them stating that you are interested in stock number xxxx. You already have an offer through a broker on the same MSRP vehicle for $xxx with $xxx total due at signing, all taxes and fees included. But you’d rather work with a local dealer and get a preferred color (or whatever excuse you want), and if they can beat that offer, you will do the deal.
Don’t wait for a reply. You should be hitting up at least 5-6 dealers at the same time. First to reply and not play games wins. Sometimes you have to expand to 60 miles, then 80, then 100.
don’t go into dealers. don’t go to toyota of naperville.
i just did a tundra yesterday with a chicago area dealer, I am going to post details soon. some want to deal
yes but if you live in the actual City of Chicago you pay an additional use tax in addition to sales tax. Combine them its something like 18% effective tax rate making it one of the worst places to lease in.
strangely enough the two i got from dealerships after a ton of haggling (especially for the Lincoln) were better than 99% of what I see on Rodo. Ran the numbers through the leasehacker calculator and came up with 7.1 for a Honda Accord Sport and 6.4 for a Lincoln MKZ. The Lincoln dealership will also give me a check for $500 to cover my disposition fee on my current Toyota lease I am turning in.
After a bunch of online work, some phone calls, and talking in person to dealerships, I got a pretty good idea of which manufacturers/dealers want to actually make a deal, vs. those who want to play games and rip me off (such as Toyota and Kia)
ultimately decided on the Lincoln MKZ for a few reasons.
The lease wasn’t great because of the low residual (48%), but the interest rate was rock-bottom (.5%), and there were some incentives and rebates thrown in. Final score on the calculator was 6.5
the reason why I went with this car is that the ride is as smooth as the top-of-the-line Mercedes and Cadillacs (better than Lexus), the cabin is on of the quietest out there, the leg room in the front is great (44 inches --I’m tall), better than almost any car out there save for the Impala. The features (lots of digital enhancements, remote start (even from your phone), and little details are excellent. Cabin is nicely arranged.
and it has a good curb weight of over 3700 pounds, which means better handling in snow and ice (we get a lot)
I didn’t want a SUV. I like the handling of a sedan or sports car, and really don’t like driving big boats with big blind-spots.
But just from the lease score & assuming low interest rate, you probably would have been better to purchase as the potential RV at the end of 5 year finance period would be better than the depreciation in early part. But maybe more details can shed light on this.
