This was in late February. I know that Subaru’s do not lease well do to the lack on incentives. I didn’t get the money factor on this one but putting it into the calculator i think there is a markup for sure. They were using the correct residual % however there was a $250 dealer incentive that i don’t think they were including. Looking at this one for March the residual went up 3% which seems strange but thats what Edmunds says. Also there is a $750 incentive from Chase right now that can be added to the $250 dealer incentive moving it down another $1,000 but still don’t think it will be enough.
2020 Hyundai Sonata
DAS: Approximately $2,400
Monthly Payment: $295
36mo/10K per year
I didn’t get the specifics on this one. My local dealer was giving me a quote of $0 DAS $359 per month so i reached out to one of the brokers on here and got the above quote so i know it should be pretty good. There is also a cost in the above for transporting the vehicle which if i did pick it up would reduce the payment by $15-$20 per month. I can get more specifics but i don’t see a lot of big incentives ($1250 lease cash this month) nor anyone getting significant discounts. The residual this month is pretty good at 62% but still don’t think it is in the right price range.
2020 Jeep Grand Cherokkee Laredo 4x4
This one only just recently popped up at a couple of dealers. I am trying to get specifics on the deal but haven’t received any hard numbers just what the advertisement says:
Incentives: Includes $1,500 Grand Cherokee Lease Loyalty Cash, Lease Loyalty Cash and Returning Lessee Cash & $500 Select Inventory Cash
24mo/10K per month
$299 per month. As i stated this just came out so i need to get some hard numbers. I got the numbers of Edmunds however they are stating that the residual is 62% but that only applies to higher trims and couldn’t give me the exact residual. Also there are incentives that i don’t qualify for as i am not a returning leasee and i am not turning in a GC in the next year. So this one is also probably not pursing.
I am open to most suggestions. I have looked at a Kia Forte but my gf had one and hated it so i am a little basis. From Hyundai i thought about looking at a Kona and maybe a Sportage from Kia. Anyone have one that they like.
I also get that if i spent a little more money i could get a better vehicle, i.e. BMW, Volvo etc. I am currently coming out of 2 BMW 3 series leases and really looking for something different. I also looked at the Volvo numbers on a T5 and don’t think i can get there with the NYS sales tax even on a loaner.
I am also in WNY. Best advice for you is to just email all the dealers you with cars that you’re interested in and negotiate strictly through email or text. I currently have a subaru lease and that legacy they quoted you on is seriously through the roof…they’re only marking it down 7% and they most likely have an inflated MF. as for the other ones, all the numbers seem really high. Go to edmunds, get all the numbers on the exact car/cars that you want, and go from there. I can tell you right now if you’re coming from a 3 series lease you are going to most likely hate every single one of those cars that you’re looking at. Message me if you’d like I have a couple recs. as to which dealers are good and bad around Buffalo.
I used to think your advice to only text/email to get to the best deal was spot on but don’t any longer. Also, I’ve also only leased 6 vehicles so probably (read: definitely) have a lot to learn.
With the last two cars (2019 Subaru Impreza and 2019 Porsche Boxster S), I found emailing/texting to be incredibly time consuming. Particularly since I reached out to about 14 dealers in both cases. In the end, two phone calls and less than 15 minutes of conversation got me deals better than anything I’d gotten with emailing 14 different dealers and sending several hundred total emails over several days.
Currently my best advice is:
Search leasehackr.com for the best deal/s you can find on the same model car and year with same/very similar msrp.
Based on the best deals you find, commit in your mind to a precise number of features or build on a specific vehicle and a lease number you’re willing to pay. E.g. any 2020 BMW M340i, sunroof/heated seats, $1000 total DAS and $500/month on a 36/10 including all taxes/fees/doc/registration.
Then, late in a calendar month, call every dealer around and ask them for that exact vehicle and what they charge for the terms you want (e.g. 2020 M340i with sunroof/heated seats, 36/10 with $1000 total DAS including all taxes/fees/doc/registration). PRO-TIP: ask how much more it costs them to deliver the vehicle.
It’s likely they will either ask you what you are looking to spend (say, “Not sure yet, still shopping around”) or they will give you a quote.
Regardless of the quote, say “Unfortunately all I can spend to lease this vehicle is $1000 total DAS and $500/month on a 36/10 including all taxes/fees/doc/registration and delivery.”
They will (almost definitely) tell you they can’t do that.
Tell them you totally understand and will reach out to a couple other dealers. Remember, honey not vinegar.
Wait. (This is the hardest part.)
Towards the very end of the month (in my very limited experience it is towards the last 3-4 days of the calendar month), one or two dealers will reach back out to you to see if you’re still looking for a vehicle.
Say yes and again ask them if they can meet your terms.
If they can, look the leasing contract over with a fine toothed comb to make sure there is no funny business and if it’s legit then commit.
If they can’t, ask how close they can get you.
If none of the dealers are willing to get to your $number$ you have a choice to make: take the best deal you’ve been offered so far OR wait until the very end of the calendar month to see if anyone reaches out a second time, knowing that you may not get your car at the deal you wanted this month. I’m very partial to the second option.
If the second option occurs, tell yourself there’s a good chance you will not get your car this month.
Emailing does seem to weed out the dealers that are sky high and don’t want to negotiate much. I’ve had great success emailing then following up with a call. I don’t find it time consuming because you can respond to dealers on your timeline and can deal with them while at work.
The best part about emailing is when you get to the dealer to sign/take delivery and they try to pull the “we never said that was before incentives” or something like that, you just hand them the email print out of what they agreed to in writing.
You can definitely do a $299 S&D lease on a Jeep right now. I went to Transitowne on Transit and got a Cherokee Limited for $289 with $0 out of pocket at all. 3/36k lease. It was advertised at $299 and plates out of pocket but my military discount of $500 took care of the plates and knocked me down to $289 and change. I worked with Dino and he was awesome. They have even lower deals on the Compass’ which are great. I also believe the Rams are under $280. Stop in and chat, they represent more than just Jeep so chances are you’ll find something under $300 S&D.