I’m in Florida and have an ICE lease ending in about 3 months. When lease is over I’d like to replace it with a 2023 ID.4 Pro S Plus AWD.
I also have a financed 2024 Hyundai IONIQ 6 LTD AWD (in case this helps qualify for any incentives)
I’m not new to leasing, but am new to Leasehackr so I’m learning a few things I didn’t know about leasing as well as some of the terminology and incentives I didn’t know about before.
Can you guys help me understand the process of requesting/accepting a lease through brokers here?
Do you get a choice of colors or is specific stock numbers/colors (take it or leave it)?
Can you test drive the specific vehicle before committing to the deal (or before putting down the broker fee)?
Do you deal with the broker throughout the whole deal or are you passed off to the dealer once the specific deal is agreed to?
How soon after inquiring/paying the broker fee does the deal happen? (just trying to figure out if I need to negotiate this weeks before or days before my current lease expires)
Generally the broker will have specific vehicles they have access to, so you’re limited to that.
Rarely can you test drive before putting down a broker fee. Brokers don’t typically reveal who their dealers are until after you’ve paid. If you get to the dealer and test drive, and the vehicle you’re picking up is damaged/has issues, most/all would refund you though. But don’t go signing up to do a deal unsure if you actually want the vehicle.
Different brokers do things differently. Most here facilitate the entire transaction upfront, but the final detail gets done with the dealer. There are some that are 1 stop shops though.
Usually the time frame from paying the fee to getting the vehicle is quick. Keep in mind that the broker likely doesn’t work with your local dealer and you may need to travel to the vehicle/ship it in. This can take time to coordinate.
Not sure brokers are gonna beat dealer prices right now. There’s a glut of ‘23 iD.4 on the lots around the country and you can get a pretty good deal just going through the dealer. $13k mfr incentive plus whatever the dealer is offering and you should be able to get down to <$400/mo all in (and possibly leas depending on local inventory) unless you have bad credit.
Not trying to take away business from any of the brokers here but I’d go look at your local VW dealer first.
Thanks for the responses all. I guess first step would be to just visit a dealership and see the best deal I can get. Then see if any broker here has a better deal.
there’s a national $13k incentive on all 2023 Pro S Plus AWD models:
It’s an additional $5500 “dealer cash.” You’ll get more than the $7500 off other trims too, but IME they’ve all netted out around the same as the AWD PS+, so that’s the best value.
As others said, you should also be looking for a significant discount off the MSRP–dealers around me (Atlanta area) are doing anywhere from ~$4-7k off. Be aware that the vast majority of PS+ models you’ll find have the 360 cam (“Area View”) and power memory folding mirrors “deleted” due to parts shortage. This makes them basically the same as the Pro S, but with 2nd row heated seats and 3-zone climate control (independent temp controls in the back). Still a great deal.
Email them with vin of the car you want on their lot and ask them for quote.
use their quote to get their doc fee & other dealer’s fee.
Use the LH calculator to get the monthly payment you want (U need to know the Money Factor & residual - the easiest way to get that info is to become super supporter on this site)
Email the dealership with this info based on your target LH calc number
Your zipcode:
Vin:
Msrp: $
Msrp discount: $ &%
Incentives: $ (you need to know all the incentives you can get)
Doc fee: $
Other fees (acquisition, disposition, etc): $
Total: $
Monthly Payment:
Money factor:
MSD
Residual
Term: ex $0 down 7500 miles/year, 36 months (check the over miles fee, sometimes it’s cheaper to pay the miles vs getting into higher miles lease)
And ask them if they can work with your number.
5. Rinse n repeat to other dealers
6. Either they say no, counter offer or if you’re lucky, accept your number.
7. Only go there to sign your deal and ready to walk away if they change your deal.
a high % of them were “deleted” due to parts shortages. every single AWD PS+ at the dealer I went to did not have either the 360 cam nor the power folding mirrors.
Go a local dealer for test drive. Then figure out the price you want, and email/call every dealer you can drive to.
You ONLY need ONE dealer to accept your offer. It’s not that hard.
Ok, lots of good information on here. Thanks everyone!
I’m still at least a couple of months away from being able to sign (as I still have 3 payments left on my current lease) and I know these incentives appear to expire at the beginning of March, so I will just have to keep checking to see what the latest incentives are as the time gets closer.
As of right now though, I’m thinking that because the 2024s have all new screens, software and motors, the moment they actually drop, the 2023s left on dealer lots will sink even lower.
I would love to the get the updated ID.4, but for what I’m pretty sure will be a significant difference in price I don’t mind going with the '23s.
Thanks again all…I’ll keep my ear to the ground on this issue over the next couple of months.
