I have not told the dealer that I’m leasing yet. I will try and push for a little bit more off the sales price. When I tell them I’m leasing what “Money Factor” should I except with a 740 Fico score?
Also what is the Residual on this 2020 Limited X trim level.
This is my first time leasing and I am trying to structure the best deal possible. Thank you in advance for any assistance on this.
Bare with on this but I do not know where to go on edmunds specifically to find it. I’ve been looking all over the website to find out how to get this information and can’t seem to locate it on the website.
So they can change the agreed purchase price once I tell them I’m leasing? I thought to get the best deal on a lease I had to negotiate the best selling price for the vehicle. But what your saying is I need to make sure I know what the lowest selling price is before incentives because they can say these incentives only apply toward a purchase and not a lease.?
That is correct. Edmunds will list what the incentives are for a purchase and a lease. You should also check the manufacturers website as well to see what other incentives might be available to you within your area…for example First Responder, Health Care Worker, Educator, etc. Good Luck.
Exactly. What you’re trying to optimize is the pre-incentive selling price. Essentially how much the dealer is discounting the vehicle, not how much the dealer is discounting AND the manufacturer is throwing in.
Thank you @mllcb42 , this makes perfect sense I appreciate that. I will asked the dealer to send me an itemized list of the discounts being offered and see if I can separate manufacture discounts and dealer discounts without showing my hand.
@max_g I’m new to leasing as you can see and I did some research on how to lease and get the best deals. I then found out that some people are driving the same exact car under the same exact terms with very similar circumstances but are paying $150 difference in payments. How is that possible? 1 purchaser just took whatever terms that were advertised and the other focused on the lowest purchase price of the vehicle. Dealerships are less likely to give you the lowest purchasing price of the vehicle if they know you are leasing the vehicle. I’m simply just trying to get the lowest selling price. Dealerships waste the buyers time all the time which is a tactic used for years. Thanks to technology and the pandemic I can waste time from my living room while watching Sons of Anarchy.
I don’t agree with this statement. If you go in knowledgeable, you can get to the same selling price regardless of how the vehicle is paid for. You just need to know what deal you’re trying to get.
Every dealer wants to move metal, they usually don’t care if it’s purchase or lease (does lack of education re: leasing help them? Yes, with misinformed customers it does)
What you’re going to do when, drumroll, you finally show your hand, is that you’re going to be that guy. The guy who’s a PITA and the opposite of an easy transaction to move metal.
So have fun watching Sons of Anarchy
If this means reading stuff elsewhere you can probably disregard it. Not that everyone on LHF is always correct but misinformation elsewhere is less likely to be called out, let alone corrected.
There’s a bunch of metal on many lots, I’m in no rush. Having another SUV will come at a price I’m willing to pay and when I feel like the deal is fair that’s when I’ll sign until then SOA it is
I shopped a different dealership than my initial post above but this is why I said what I stated above @mllcb42@max_g I appreciate you guys assisting me with all info and I’m in no shape or form an expert in the auto sales industry.
Below here is a dealer who initially gave me
$3,925- Dealer Discount
$4,750- Rebate
This dealer had no idea I was planning to lease when I got the “Dealer Discount”. Once I told them I was leasing. The dealer discount all of a sudden disappeared.
This is a horrible deal people. If any dealer shows you a deal like this, exit immediately!!! Do not tell dealerships that you are planning to Lease! Not all dealership act in good faith or plan to “Move Metal regardless of how it’s paid for”.
They may have been using a direct to dealer incentive to cover the dealer discount that didn’t apply to leasing, in which case the dealer discount was always $0, regardless of if it was a lease or a purchase. Otherwise, they were just letting you know that you should be doing business with a different dealer.
