Friend is looking to lease a Genesis RV70. I think they list at $52K. She has close perfect credit. She would be returning her leased Genesis, which is 11K under mileage. Talked to a salesman at one dealer. She offered $5K down and $650/month. I thought the offer was high and was surprised he didn’t take it. He seemed to be willing to do the same with $680/month.
She thought she made an agreement Friday with a salesman at another dealer for $4K down and $640/month. I was surprised how long it was, particularly considering the negotiations at the first dealer. On Tuesday, she went to pick up the car. Salesman claimed it was a new month, so no longer incentives. Wanted to do higher price. Sales manager backed him up. Saleman had refused to take a deposit on Friday, and there was nothing in writing. I suggested in the future to if possible take the car right there. Dealers want to do it that way when they are getting a good deal, and don’t want you to think about it. This seems like something people here leasing should also watch out for.
Based on what happened with both, I am thinking the terms she offered the first dealer are about right to agree to in the current market.
#facts the programs changed, and without anything in writing
A Ouija board can also give me a DAS and payment, that doesn’t make it a good lease. Sounds to me like your friend dodged a bullet and has another chance to do their homework before walking into another dealership.
I thought she may have been insisting on too low a price with the 2nd dealer and that is why he gave a price they wouldn’t go ahead with. Not sure how to do homework. Have some idea of what the price should be based on the interactions with the two dealers. I still feel her offer to the first dealer was a little high and maybe she did dodge the bullet on that.
What is the procedure if the salesman won’t take a deposit? Maybe then say then it isn’t a deal. That seems like a red flag that it is not a real offer / agreement. Plus the offer seemed to good to be true. What do you need to have an agreement that you have leased a car?
You need to spend a lot more time on this site learning about leasing and how to get the deal you want. Until you do that, you’re going to get ripped off. If you don’t want to spend the time doing that, then hire a lease broker on here to negotiate the deal for you.
Because they get a better discount than you would be able to get on your own unless you are pretty savvy. Ie you may have to pay sticker if you talk to dealer directly but the broker may offer 6% off so if the car is 50k and the broker costs 500 bucks you just saved 2.5k (excluding shipping or time/cost to get car wherever it is )
I will not take a deposit on FRIDAY 9/29 to tie up my inventory until Tuesday 10/3 to tie up my arguably most in demand vehicle on the last weekend of the month for a deal that won’t count till next month.
Yeah, but she went out there on Tuesday thinking she would pick up the car. I understand if he didn’t take a deposit and no one signed anything, it probably is not a deal, and she should have realized that, that there was significance to his not taking a deposit. The salesman did write out the terms on a piece of paper.
I looked at that tool, and there is no way I could use it. It asks for so much information I don’t have.
So she trusts herself without having any of the numbers she needs to know whether she’s getting a good deal, but she doesn’t trust someone who does this for a living? Why did you bother posting here if you aren’t going to use the tools and suggestions we’re giving you to help get her a better deal?
Genuine question: what is the purpose of posting, if you don’t want to take the advice that people are offering?
The point is that you need all of the information the calculator is asking in order to determine the deal you’d like to propose to the dealer.
If don’t have that information, you’re just shooting in the dark.
If you don’t want to do the work to get that information, then the few hundred you spend on a broker will be worth it. The broker has a relationship w/ dealerships and are giving them a constant stream of business. You and your friend visit a dealership once every 3 yrs; what motivation does a dealer have to give you a good price?