I’m new to all of this but I fell down a rabbit hole researching as much watching videos taking notes trying to understand how to get a good lease price. I am helping my mom get a lease after having her 99 Saturn for 21 years. She’s super frugal and I really want to help save her some $. She wants a 2020 Corolla LE and I do know there are better or less expensive leases on other sedans but she’s set on this car, and she’s Sicilian stubborn lol. Now I have spent so much time reading and watching videos on leases that I think I confused myself more… I understand the lease calculations and everything but now that we have the car picked out and are ready to start negotiations I am second guessing myself on what to negotiate, what price I want, what are reasonable expectations… so help me please! I want to start emailing dealerships but what am I asking for? Do I start by trying to get them to lower MSRP (before incentives) and then figure out the lease price? Or there are 2 lease deals on Toyota’s website
Do I work off of these deals and try to get them to lower fees? Or some people on reddit’s ask a salesperson say these deals are usually “rock bottom” deals so am I hoping for too much by trying to negotiate them lower? Any advice would be helpful to me. I’m just a gal trying to get her great mom a good deal!!
Here’s the other information I have, I am in Wisconsin
MSRP 21,254
Money factor .00009
Residual value 59%
Manufacturer incentives 1000 off and 600 off
All this information came from the dealership when we test drove
edit to add mom also has bangin credit over 800 and is looking for a 10k lease
Also, never talk to a dealer about numbers until you already know what the answer should be. The dealership is not a resource for pricing information. If you’re talking to them, it’s to find a dealer that will do the deal you want, not tell you how much a car should cost.
It’s only a possibility later down the line that driving may become difficult Or uncomfortable for her. It’s very unlikely that will happen in that time frame but thanks for your concern.
The key to getting a good deal is knowing every detail of the deal inside and out. That’ll help with the confidence. And some dealers will tell you that what you’re looking for deal wise is not possible. Assuming the numbers are built on reasonable values, just hold strong.
I’ll add not to feel pressured about signing a deal, even if you’re with the F&I guy in his office with a pen in your (or your moms) hand. He’ll offer add ons you probably don’t need. The last form you’ll sign is the really long paper which is the leasing agreement.
If something doesn’t feel right, the numbers aren’t adding up or you’re just not comfortable, simply stop! and say you’d like to review this a little closer.
Bring it back here and let it get analyzed.
I wouldn’t think it would be very difficult to get a decent deal on a Corolla, but I was offering the suggestion in case that is not what he wanted to do.
I always thought buying used and keeping something for a long time was the best option too. Mom bought a 4 year old Kia for $9k including tax/reg, did minimal maintenance of $2,315 on it for 5 years, drove it 60K miles. Value when she went to trade it in was $600. So it cost her ~$189/month. Got her a 36/12 lease on a brand new $23k Subaru Impreza for about $40 more a month. Given that she’s spending $40 a month more for a brand new car with AWD, a number of features her old Kia did not have, greater safety ratings, and not about to have a potential major mechanical issue $$$, I’m not convinced that the conventional wisdom of buy and drive for a long time is always accurate.
