Lincoln Corsair 2021

[wlhodges]

Below is the lease hacker calculator. It’s the offer I have from the Lincoln dealership here in Mississippi, 39705. What do we think? How can I get the price down? Every time I get a rebate, they add something else that I ‘need’ such as Wearcare from Lincoln — which I declined.

CALCULATOR | LEASEHACKR

[mllcb42]

@wlhodges

Every time I get a rebate, they add something else that I ‘need’ such as Wearcare from Lincoln — which I declined

I’m confused by this statement.

First and foremost, what did edmunds give you for incentives?

[wlhodges]

Not sure about incentives from Edmunds.
The discount was $1,618.81 from dealer with $1,250 in rebated — First responder was $500 of that. Not sure what the $750 was. They won’t say.

When I told them I was a first responder is when they tacked on an extra $1k for WearCare by Lincoln for wear and tear coverage at the end of the lease. It wasn’t there originally.

[mllcb42]

@wlhodges

The discount was $1,618.81 from dealer with $1,250 in rebated — First responder was $500 of that. Not sure what the $750 was. They won’t say.

So end the conversation with them and move on.

Talking to dealers is for finding someone to so your deal, not for figuring out what something should cost. You need to go into that conversation already knowing what your target price is, what the incentives are, etc.

We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.

1. Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
2. Pick a specific vehicle that you want to target
3. Gather the current MF, RV and incentives from Edmunds forums for your zip code
4. Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
5. Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
6. Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.

With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.