MSRP: 45,125 (Standard limited plus sunroof, 8.4inch screen and blind spot)
Went to a dealer last night to actually test drive and make sure I liked it more then just for its looks. Afterwords sat down with the rep and he presented me with $469/month with only first month due at signing. I pulled out my phone and showed the rep what it was going for on honcker (~410/month with first month). He brought this to the GM and he came over and basically said there is no dealer in the tri-state area who can offer that. I said look its legit there are tons of cars on here at that price for this msrp. Then he demanded I tell him what dealer was offering this. I said look - I have a trade in and if you were within spitting distance I would do it here but it seems like your not even close, the discussion continued as he kept saying its not possible - eventually I was able to get out of there.
Long story short - based off everything I have seen online it seems like the honcker price is fair to good but not even close to the best I have seen on the forums…are dealers in my area just taking people for a ride or was I being nuts and his offer was fair?
Without knowing the particulars it’s possible that Honcker is using a third party bank like Ally or US Bank, and this dealer might only use Chrysler Capital? If there’s extra IDL cash for third party leasing that could be the difference. Or the dealer you went to was full of it. Or maybe both.
Dealers - especially in smaller markets - are still clueless about Honcker and the idea that customers are more willing to negotiate online and travel for a better deal. I am in Albany, NY and dealers around here have no clue. This will change slowly. For now, you need to widen your search and use you local dealer solely for a test drive/showroom to see the cars.
The best thing to do if Honcker is looking better than what you are getting is to reverse engineer their deal with the numbers available. If you are getting a selling price that’s way out of line with the other offers, than either their dealer is amazing or there’s something else going on, like a credit union lease via purchase or something along those lines.
With all this being said about Honcker; how do you go about finding deal specifics? When I looked at the app, it looks as if it’s pretty much a “Don’t worry, trust us with what we show you and just sign on the dotted line” type of system. I do not feel comfortable with anything Honcker gives me because there’s no way to figure out what’s actually being offered.
It’s much like the same bait and switch tactics that dealers use right now with their low price adds that exclude incentives. Yeah, it might show that a VW GTI SE (just an example) can lease for 394 dollars a month, 36 mo/18k mpy, but what exactly are deal specifics?
You can ballpark it based on trim and options with similar cars. Financing is tougher, but I have had luck calling them before. Took a little work. But I only did it because the numbers made zero sense with GMF incentives and programs attached.
I use Honcker as a baseline to start negotiations. You figure they’re making at the very least $500/car they sell. More than likely $1000+. So I like to think I can beat Honcker by 10% at the very least. I haven’t been proven wrong yet, damn robot brokers aren’t gonna negotiate better then me!
The last car I did Honcker was at 317/mo with 317 down. I got the buyer a $1500 higher msrp Cherokee limited for 290/mo. So I think the 10% rule is a good one. Also remember Honcker doesn’t know your incentives, so it’s possible to get them even cheaper. All in all I think it’s a great resource for the uninformed consumer
Call them back and see if they will run your lease through Bethpage FCU. Some dealers have multiple F&I guys that aren’t aware that the dealer is signed up to lease through other banks/credit unions.
Larchmont Jeep is signed up with Bethpage which should result in a lower payment. You can lease through either Bethpage FCU or Hudson Valley FCU in Westchester, County. Here are the Jeep dealers signed up with each CU.
18MY Grand Cherokee Limited 4WD incentives this month in your county are below:
CCap $5000 (with subvented rate)
Ally $4500 (with subvented rate)
Bethpage FCU/Hudson Valley FCU $8250 (with normal CU rates between 0.00158-0.00175)
Do a 39mo through either CU and you’ll get the best payment.
White Plains Jeep
Central Ave Jeep
For Hudson Valley:
Bill Volz Westchester CDJR
Croton Auto Park
Why do the specifics matter? If a lease payment is $300 with $300 at signing, and that beats all other offers, I don’t care about the specifics. If the best deal is $150 interest and $150 depreciation, I’m not going to take the $325 deal because its $25 interest and $300 depreciation.
From all reports, what you see is what you pay with honcker. Nothing hidden.
You aren’t commited to anything until you sign the physical paperwork from the dealership. So you can click the lease button and if you don’t like the details presented to you in the lease contract, you don’t have to sign.
Depending on your situation the specifics can matter. If you have a lease you are turning in through a captive lender, and the Honcker deal is through a third party, you may be on the hook for the disposition fee and any excess wear, overages, etc. Also, some lenders have better reputations than others regarding mileage and damage forgiveness, etc.