Hi guys I’m in New Jersey and my lease on my Audi A5 convertible is expiring next month. What is the best way to go about negotiating a new lease… this will be my second lease and I realised that I definitely did not do my HW for the last one after finding this forum and reading through what you guys do to prepare but it has been a while since then and I need some guidance.
Appreciate advice you can offer as I hate this process of haggling with car salesmen who always find a way to take advantage.
Easy…find a broker, there are several in Marketplace who serve the east coast.
Anything other than that you are in for a world of hurt and frustration, and sitting in rooms with people who were probably infected that morning.
i second this one. im on Staten Island so i do my car shopping in Jersey. last few cars I’ve gone with a broker once we picked the car. most recent one, broker was substantially better on (discounts + getting exactly what was wanted).
Try to extend the current lease since the current market is terrible in terms of deals.
The two most useful tools for me were:
- Learning how leases are calculated:
- Learning how to use the LH calculator correctly.
There are thousands of examples in historical posts that include all of the necessary inputs, as well as a calculator link that corresponds with the deal.
Except, for all we know, she is paying $1k/mo and has $5k equity, making the better play selling the audi and finding even a semi-decent deal now.
EDIT: looked at old posts and see OP is in an SQ5 at $647/mo. Sunk $4700 at signing, too.
@Mlady have you checked to see if you have any equity?
I would read what trism posted plus the Leasing 101 content so that you understand the basics of the numbers involved in your lease. Then I would reach out to @leasecompanion or another broker of your choice. The market is brutal right now, so unless you want to spend a ton of time trying to find a dealer to do a deal at the numbers you want, a broker is the “Easy Button.”
Thanks! Right now is summer so convertibles are hot!
My advice would be leasing a sedan instead of a convertible to save some money.
The best place to start is
Please read links in there such as “how to calculate payments” and other helpful articles.
It might seem like a lot but TBH there are fewer <60 minute exercises which will save you so much time, money and anxiety over your driving lifetime.
It may also save you (after your negotiations with LH input) inside the finance office where no one can from the internet can really help you.
Remember, it’s almost impossible to reverse-engineer the math starting from the output (monthly payment) and figure out if it’s a good deal. Start at the beginning.
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