Hi all-
Curious as to when I should seriously start researching my next lease?
I have a little less than three months before my current lease is up.
When should I start reaching out to dealers to start negotiations?
Too far out they won’t take me seriously? Too close and they know that I have to get into a new car.
Any advice on best time to start?
Thanks!!
I wouldn’t start talking numbers with a dealer until you’re in a position to pull the trigger. Your value in getting an aggressive lease deal is being a quick, easy sale and that means being able to move.
You certainly can start getting a feel for the market by researching other deals now, with the understanding that programs will change every month.
You’re in the good spot to start now. Some car makers offer pull ahead programs to get you into a new car and stay loyal to the brand.
So what car maker is offering these deals now, in this environment ?
Less then three MONTHS… You should start at least a solid 3 years before
/s
Seriously, though
- Lexus does not offer a free pull ahead program. Someones eating that pull ahead, and more then likely its you.
- If you want to make a DIY pull ahead program, explore 3p buyouts on the current lease.
- If you dont want to jump into a lease now, then I’d say wait for Summer to remember. Junes EoQ is probably where you have to start shopping if your exiting on your current lease, and thats a month before this event. Pricing usually gets better end of June till mid July.
Lexus currently has a 4-month pull ahead program. Lexus Financial mails you the certificate.
Mercedes is offering a pull ahead for up to 3 payments.
Ironically, my dealer just reached out to me moments after I posted this.
Audi Financial is also offering a 3 month pull ahead on most models.
Start right now!!! Don’t wait. Gather up numbers details and get a head start. 3 months will go by fast. Yes numbers change but sometimes you can get out of your lease early. I got out of my last one 4 months earlier.
If you already know what car/model you plan to lease, then it is too early to reach out to dealers. However, if you are just looking for the best bang for the buck in a particular segment, it is never too early to start researching on the site. It will give you an idea what others have paid and what pre-incentive discount is possible.
Volvo and Audi both have pullahead offers, in addition to the previously mentioned MB offer.
or you can be respectful of people’s time, given that it’s unlikely a customer will be willing to eat several payments. unless you are staying w a particular manufacturer that offers pull ahead and will take you out of your lease clean, you’d be wasting a person’s time, given that a) you are likely not pulling the trigger in a given month and b) programs change m/m
you should shop for a car at the beginning of the month when your lease is due and take advantage of your lender’s grade period to return your lease.
Unless you’re planning on doing a custom build, then depending on the model you might want to start looking 2ish months in advance. For an in stock unit, you’re right about shopping the month your lease ends.
Mercedes is offering a pull ahead, and I would like to get another MB.
Because of the pull ahead I would consider getting into a new lease now, if the overall deal is right.
That said, I don’t see that many C300 or GLC deals being posted – are they not leasing well right now?
If Mercedes is offering a true pull ahead and you’re ready/willing to pull the trigger on a new one then it’s certainly fine to start reaching out to brokers/dealers now.
The jackass thing to do, which is what we’re saying don’t do (in general), is be the guy that has 3 months left on his lease and starts calling, emailing, soliciting quotes from dealers and brokers even though he has no real intention of signing anything until the lease is up.
In any event it’s never too soon to do your homework, research past deals and broker listings, for most common brands it’s easy to gauge the market and build a quote and your target deal without ever needing to actually contact the broker/dealer.
Totally Disagree. I’m not going to start my shopping for a car 30 days before the lease is up. It’s not like I’m shopping for a $15 scarf at macys or a box of pasta… Shopping for my last lease 4 months early actually put me in a great lease, it just so happened everything worked out and i walked away with a very very very good lease. If I had waited I would have probably not gotten such a deal.
And most people here would rather get out of a lease early than the exact day the car is due back. And respectful of others people’s time? What people, a car salesman? Respect their time? Ha. Everyone knows most car salesman don’t respect the customer with their sleek tricks and lies, you have heard the thousands of stories, I know I have. So no I don’t care about respecting someone’s time when it comes to a car dealership.
Your value in an aggressive deal is being the quickest, easiest sale possible to the dealer. By wasting their time, you’re removing that value from the equation, making it much harder to justify giving you an aggressive deal. Wasting their time isn’t in your interest, regardless of if you think it is deserved.
also every broker / dealer on here saw that comment regarding the respect this person has for their time and will act accordingly lol
TLDR version - start home work now, hard negotiate at 30 days
Here is what I have done on my last several leases. with specifics from my most current lease:
9-12 months before lease end - start independently researching models I am interested in, pricing, options, etc. Paying particular attention to learn if there is a new version (major or mid-cycle) coming soon. I create a spreadsheet of all the models and check cargurus for 500 mile inventory and nationwide inventory. I keep this updated at least weekly, it allows me to see trends and if inventory is building up on a given model. During this time it is all independent, no dealer interaction
6 months out - I begin checking to see if the manufacturer of my current lease is starting any pull ahead programs and the specifics. I also make sure to validate what if any discounts the manufacturers are running that I might be eligible for (e.g. costco, MBCCA, BMWCCA, etc). This is a good time to ensure any of those programs that have special requirements (e.g. membership dues) are current for me. I’m also constantly checking the inventory levels and looking to spot a trend (e.g. a specific dealer is having trouble moving inventory, using cargurus days on lot info)
3 months out - Narrow down my list of preferred cars to just 1 or 2 models. if pull ahead is available, a given dealer has a model/option I want and it has been sitting there for 90+ days I reachout to the dealer via email to start initial discussions.
1 Month out - Time to start the full court press. Check edmunds for current RV and MF rates. At this point I am down to 1 specific model and a vary narrow, but semi-flexible list of options/colors. I then reachout to 2 or 3 dealers about doing a deal on a specific car. I make sure they know I am serious and ready to buy/lease immediately. Since I’m in texas I also inquire about tax credits and let them know this will be a requirement for me of any deal. I do as much work as possible for them. I let them know I am already aware of the RV and MF and I am looking at base MF. I also let them know about incentives I qualify for as well (i.e. MBCCA). The goal is to make this a low margin, but slam dunk in/out deal for the dealer. It is a bit of leg work, but I actually enjoy doing this work. This is the exact process I used on my last lease, a 2018 AMG C63 S sedan. I went in asking for a 20% discount and every dealer except 2 scoffed at me. The 2 that did not flat out say no I started working on against one another. I let them both know I was talking to 2 dealers and they both had the car I wanted. Whoever was willing to get to my number would win. I started that hard press with the 2 on a friday afternoon and picked up my car Saturday afternoon from a dealer 200 miles away. In the end I got a little over 17% discount off the car, if I include the tax credits into my calculations.
You could start now even if there isn’t a pull ahead offer. If you find a great deal, look into selling your car to Carvana, Shift, Vroom, or Carmax to get out of your lease early.