New to lease a car. What is next step?

[Gideon_Choi]

I’m trying to leasing a car for the first time in my life.

After watching “Video: Lease Like a Pro Using the Leasehackr Calculator” I call and email to a dealership for a quote and this is what they sent to me.

I don’t know what I need to do after this

I’m targeting 2021-2022 Elantra SEL under $300 monthly payment.
If you guys know a broker who can help me please let me know. My zip code is 30096. GA.
…

[mllcb42]

First off, right now is the worst time to be trying to lease a car. If you can put off getting into a new vehicle, do so.

Talking to dealerships is for finding someone to do your deal, not for asking them how much they want you to pay. You should never engage a dealer regarding pricing until you already know what the numbers should be.

It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, 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!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
2. Pick a specific vehicle that you want to target
3. Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or 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 (CALCULATOR | LEASEHACKR), 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.

[Gideon_Choi]

Thank you! I appreciate it.