I read all the articles under “Leasing 101” but couldn’t really find how to answer the salespersons questions. For example, when showing interest in a car, they ask whats the monthly payment you are willing to pay? If I say X amount, they’ll definitely give me a proposal with that monthly amount but also a high down payment which obviously isn’t the recommended approach.
I also know we can/ should negotiate the MSRP of the car.
I’m a complete newbie so hopefully I’m making sense. But I want to hear how to approach the initial questions from the salesperson to get the deal I’m looking.
Ex. When I told the Mercedes guy I want $500/month on the EQS, he’s like even if I drop the MSRP to $80k, idk where you’re getting that number from because I can’t work that into my system. But @HersheySweet deal was sub $500/month and MSRP of $80k. So I didn’t know what to say except say that I’ve seen people get crazy deals.
Hope that example above made sense so you can explain/ help me.
That was a unicorn. Don’t expect to just obtain such a deal especially when you are so late to the game.
Figure out how to use the calculator and find out how to get the RV and MF. The MSRP is fixed you can negotiate the sale price. RV is typically fixed for a lease program so chose the program properly (e.g. 24/7.5 for EQS). The MF has a base value, so if the dealer has marked it up, you can negotiate it down to the base MF. There are tons of posts you can read here to understand how this works.
Importantly, know that the brokers here have pre-negotiated deals that are pretty good. If you don’t know how the numbers work and don’t want to learn, just go with the brokers. Some brokers in the marketplace have really good numbers.
When I told the Mercedes guy I want $500/month on the EQS, he’s like even if I drop the MSRP to $80k, idk where you’re getting that number from because I can’t work that into my system. But @HersheySweet deal was sub $500/month and MSRP of $80k. So I didn’t know what to say except say that I’ve seen people get crazy deals.
I am sorry but you actually thought that’s all it took to lease $110k car for $500/month? I am starting to feel bad for the dealers now.
If you blindly walk into a dealership without agreeing to a deal before hand, then you are wasting your time negotiating in person.
That is incorrect. The Manufacturer’s Suggested Retail Price (MSRP) of a vehicle is non-negotiable. However, you can negotiate on the discount of the car to come up with a sale price.
That is incorrect. Hershey’s deal was for a car with an MSRP of $105.5k.
I do not want to sound mean, but I would strongly suggest doing more reading to better understand how leasing works. Also, stop talking to dealers by throwing random monthly payments.
Let’s go back to Hershey’s deal for a second. Here are few facts:
His deal was for a 2022 loaner
His due at signing included $6500 in MSDs + drive offs
His discount off MSRP included the $2500 dealer cash
So if you were looking at a new 2023 EQS, no dealer is going to apply the same discount for you as Hershey’s loaner.
This should probably be in a Wiki, if it isn’t already there.