Hi All, Newbie here. I have been reading different sections of this forum and thanks to everyone for providing so much valuable information. My current lease expires last week of September and I believe this would the right time to look around for deals. I have a couple of questions, I wanted to know:
Are the deals going to be any better around labor day (Volvo, Mazda, Acura – suvs).
If I find a good deal from a broker in August, is there an option to start the deal when my current lease expires which is the end of September or it has to be right away with the deal.
Unlikely, even if it’s shipped you already made the first payment. If that is truly your concern, line up a deal in September (remember the programs will likely be different than August).
Thanks. I was trying to avoid extra monthly payment and would have liked to start in as when my current lease was expiring. But looks like that might not be the option if I get some deal now. Will have to think about it. Thanks
Do not despair - I will be posting vhooloo’s labor day deals soon… Just need to wait for the numbers to come in… In the meantime, have you looked at a Honda Pilot yet?
Welcome @karan1981. I wish I had good news for you. You are in for a hard slog. Car dealers do NOT want your business IF you are looking for a great deal.
If you are willing to pay above invoice, 4 to 5% off MSRP you can lease a car without much frustration. If you want a solid deal, you can lease a car. If you want a great deal, be ready to grind 6-10 dealers. Car salespeople will simply grin and smile at you when you make an aggressive offer. Salespeople will not return your emails. Be prepared. Today’s market favors the dealer. Dealers have fewer cars than lessees/buyers. It won’t get better in 4-6 weeks.
It’s always best to approach a lease negotiation will a strong understanding of the variables that make up a good deal - this is even more true today when you might need to recognize a “pretty good” deal and pull the trigger quickly. In the next few weeks work to build a lease calculator for each car you are interested in leasing: A. Pre-Incentive Discount. B. Today’s buy rate MF. C. What incentives do you qualify for? D. RV. E. Learn about MSDs. F. Be flexible with color and options. G. Volvo uses a direct-to-dealer incentive pricing model. These won’t change too much next month, and if they do you will be ready.
In my opinion, today’s market is when a broker services are most useful - they can find you a car with the specs you want at a fair price in today’s market. If you don’t have the time to do your “good deal” homework, a salesperson will pressure you into a weak deal. Take it or leave it. “Hey, if you don’t want MY deal I need to release the car to someone else that wants it.” If you are unprepared you will over-pay. Consider paying up to $500 for the services of a broker. You will find good broker options on this site.
I hope you do your homework, negotiate a good deal and drive off with the car you want.
Thanks for the detailed information. One last thing I needed to check was if I think of getting the deal from a broker, any idea on how long does it take for a broker to close the deal. I know it all depends on broker but just wanted to have a rough idea so that I can plan ahead in case I wait till me current lease end.
Actually, that’s all up to you. The deals that LH brokers place in the Marketplace are ones that are ready to go (almost) immediately. I referred a friend to a loaner deal in the morning, and he was driving out later that same day.
It all varies by availability - new/loaner, options, color, location. Once they find something, the longer you wait, the less likely it will be available (it’s still for sale to others).
deals, incentives are good only for that month. Your current deal has no bearing on a new deal, other than the incentives you qualify for.