Is leasehakng really working for you?

I try many dealers and seems even with the right incentives and a 765 credit score I’m still getting a monthly payments of $340/month for 2016 Chevy cruze limited lt1 …I get really frustrated because I feel like they are lying to me…I have no idea where they getting the numbers specially when their price is $16.5k (without incentives)…

I don’t know but I feel like this works if you have a friend that works at the dealership and can help you out. I saw a Leasehckr article where the salesman actually encourage for the guy to tell their friends and he will replicate…

What state do you live in?

I live in Florida. 32757

I want to say no as well. By the time I get requested numbers and locate and haggle with dealer, so far nothing has gotten too close.

Worked for us! We got a V6 Equinox LT AWD with navigation for $240 a month and $1440 in taxes and fees due at signing. This was on New Years Eve and we didn’t have to negotiate at all.

Hi @Shadow,

I understand the frustration as many readers from FL also had difficulties with the price negotiation. Leasehackr’s prices are based on Southern California prices where the auto market is competitive. Many readers from California were able to replicate the deals on Leasehackr. FL doesn’t seem to have a competitive lease market considering its doc fee can go up to $800, whereas CA’s doc fee is capped to $80. That said, we do have happy readers who have scored great deals in FL; some of them had to travel far to a particular dealership to get the deal. Perhaps try reaching out to them on the forum to see if they can give you some tips?

2 Likes

I think it’s fair to say that SoCal and California in general get better lease deals because of intense dealer competition. In addition all the super EV lease deals are due to CA tax credits that in many cases cover most if not all of the depreciation.

I like that the blog posts now add “great” deal and “average” deal. And the key is that many of the ideas that spark these deals should hopefully lead y’all to negotiate better deals wherever you are

Greatly helped educate me on the lease process and payment calculation. November and December and possibly January and February are generally the best times to make a great deal, lease or purchase.

1 Like

I would say when you are dealing with volume dealers (i.e. dealers who focus on volume targets for incentives) then any month end is good and quarter end is great

I live in FL and Leasehckr did wonders for me! The first time I went to a Lexus dealer to negotiate a $42K+ MSRP Lexus NX F-Sport via Costco pricing, I obtained full disclosure of invoice, MF and residual and got an offer for 7.5K miles/36mo lease $0 down for $431/month including taxes. I had to put 9 MSDs. However, I did not accept and came home to run the numbers again with the Leasehackr calculator to make the monthly payment go down to $399 and this time with 10K miles. I also requested all maintenances and excessive wear and tear insurance (a ~ $1200 expense) to be rolled in and included in the lease.

Guess what? It was end of the month and end of the quarter for a high-volume Lexus dealer that also was running a free month lease subsidized by Lexus and after emailing a PDF of the calculations, the dealer took my Leasehackr based offer!.

6 Likes

This site encouraged me to lease rather than buy. While I didn’t use any of the methods or calculators here, I learned a lot about the leasing process and brought that knowledge in with me when I negotiated my lease.

I picked up a 2016 Hyundai Genesis ($42,500 MSRP) for $229/month with $0 down. If I can keep finding deals like this, I don’t think I’ll ever buy again.

In my mind, leasehackr gives you the tools and knowledge, but you need to do the homework, research, and negotiating on your own.

6 Likes

That’s Honda Civic pricing for a $42K Genesis. You win!

3 Likes

While I didnt actually pull the trigger on the deal, I did get a FIRM quote from an NJ dealer of $135/mo for 24 month lease of 2016 Chevy Cruze 1LT. In general, its def not easy to get these deals, but if it were, they wouldnt be deals in the first place.

Thank you! I wouldn’t have been able to do it without you! Leasing wasn’t really something I’d considered until I saw how much flexibility there was in negotiating the cap cost against the residual. I learned that here.

Overall Cruze Ltd lease numbers got worse for May…less CCR, higher MF, lower residuals, etc…the great Cruze giveaway is pretty much over.

kmdukez,…congrats on getting nice deal. Which genesis trim/options did you get. Which state are you located?

I’m a big fan of anything that helps the consumer (especially in asymmetric information situations), and this website/forum is one of them. Big kudos!

That being said, I have a few suggestions that are intended to be as constructive as possible:

A. Compare apples to apples. In some front-page articles, I’ve seen “excellent” deals based on 10k miles/yr while “average” deals are 12k. It might be only 1% MSRP difference over the course of the lease, but it’s unnecessary to make an “excellent” deal appear better via an apples:oranges comparison.

B. No front-page articles in a long time, at least none relevant to non-CA readers.

C. Related to above possibly, since the same cars’ MF and RV are requested over and over again, leading to less time for moderators to write more substantive stuff. Make a drop-down menu or other quickly searchable form for people to see the MF and RV of commonly requested models, filtered for 24 and 36 months and by trim if necessary.

D. This one is much harder, since it requires moderating what users are posting, but people need a reality check on what’s a great or good deal or even possible. E.g. the Hyundai mentioned in this thread, unless one went over to the original thread and its 50 comments, it would be impossible to know it was for a loaner car. Granted, the dealer discounts, factory rebates, MF and RV all add up to a potentially great/good deal on this model, but I doubt one could get a brand new, single-digit odometer car for the $193/month headline number and it just creates unrealistic expectations.

E. Corollary to (D) above, but assuming the factory programs are national, the biggest local determinant of a good deal is going to be your local dealer’s incentive to discount the car on selling price. I’ve just been looking and seen the same exact car (model, trim, etc) advertised at MSRP, 15% off MSRP and everything in between…over a large radius. It may end up requiring a one-way plane ticket to achieve the lowest total cost.

8 Likes

1985mb3, I think your comments are very helpful.

Leasehacking worked for me. My first lease was my current car and in retrospect I got a bit burned. Not terribly, but enough. My second lease, to be picked up next week, is a pretty outstanding deal from what I can tell. Because the forum here didn’t have much useful information for the particular car I wanted I relied mostly upon another website’s forum but strategies mentioned here were helpful.

Thanks much! I got the 3.8 V6 AWD. Unfortunately, dollar for dollar I couldn’t scrape as good of a deal on other trims and packages. But I really don’t mind at all because even without the other packages the Genesis is super loaded. I picked up the vehicle from a dealership in Utah.

Thanks for the suggestions, all! Leasehackr is a team of two doing this on our spare time. We really appreciate feedback and ideas to streamline content delivery.

1 Like