I have never leased a car before, but I have purchased many and typically I am very successful in negotiating discounts. But I am really struggling with the Lease conversation. What is the best strategy for negotiating a lease deal? I am in Twin Cities, Minnesota and I have talked to a handful of dealers that basically have all told me the same thing: “The only way you can lower your lease payment is to increase your down payment, period.” Obviously that is completely false, but I am struggling with my approach.
I have been following some of the good deals and looking to replicate with available lease cash, understanding MF, residual value, specific tax laws, discount potential, etc. Should I ask for a specific monthly payment + down payment and simply move on when they give me the same old line? Or, do I back up the offer with the calculator data? Is that a waste of time? I would totally be willing to work with a broker but I don’t see any that deal with Minnesota customers (I am looking for a good deal on an EV … Hyundai, Genesis, Polestar, or others)
Lay what you qualify for and tell them you want to pay $xxx per month with $xxx due at sign and emphasize you will sign today. If they don’t accept move to the next dealer.
What is the easiest way to show what you qualify for? I have 800+ credit and can easily qualify for any deal. I typically buy my cars in cash so I’m not super familiar with this game.
You said you understood MF, RV etc. What you qualify for is base MF and the incentives. Costco, loyalty, conquest, military etc.
If you know MF, RV and incentives and the discount you target, you can come up with a monthly. It’s not much different than buying a car cash. Based on those numbers make them an offer.
I just sent you a leasing basics sheet I put together, which will help you better understand how to put your deal together and how to present it to the dealership by email.
If you haven’t already done it, become a super supporter, which gives you easy access to the MF and incentives for each make and model. I found that one thing alone helped me negotiate my leases more than anything else.
You may not find a broker that has a dealer in the Twin Cities area that they do business with. But many brokers can help arrange shipping from dealers they have a relationship with, and often times even when you factor in the cost of shipping you come out ahead financially. Have you narrowed it down to at least 2 or 3 vehicles?
Read Leasing 101 on this website as the very next thing you do. It will start to make the process clearer. Leasing is a shell game and Leasing 101 gives you some clarity
