Putting new knowledge into practice?

[paraglide]

Hey all, have read the 101/FAQ, and lots of threats. Awesome recourse, thanks for the contributions. So I’ve gathered a base level of understanding on how to leasehack, but finding a lack of information on how to actually implement it. Do you start by just asking the dealer for their best off then start negotiating based on what they put on the term sheet, or do you tell them what you think residual value, money factor, sales price etc should be before beginning? Thanks for any insight on this!

[mp11477]

Another 101 needed?: best practices for negotiation

Guys, I’m newish, and this site is a treasure trove of lease tips and hacks. Really, really good. But, while I get lease hacking is somewhat more advanced, I think it might not be a bad idea to add another 101 re getting to the best price from the dealer. For example, I’m reaching out to a number of dealers right now. I am inclined to send along screen grabs of deals. But everyone wants me to come in, in person, and I really don’t want that. If somebody could create a punchlist. e.g., c…

What to ask for when you're negotiating

When I’m requesting the price, and structure of the deal, so I can plug into the calculator - what should I be asking for? I ask for the worksheet, and I have some salesman sending me the worksheet they use at the desk to ascertain your monthly. Thank you! you know…like this - [30 PM]

Negotiating a Lease

I see everyone posting the MSRP and then the “negotiated price” or “selling price” of the vehicle. Is this the main negotiating when talking about a lease? How exactly do you go about negotiating leases? Thank you for any advice!

Question has been asked numerous times before. Here are 3 threads to get you started. Plenty more out there.

@paraglide

residual value, money factor, sales price etc should be before beginning? Thanks for any insight on this!

I suggest rereading. RV is non negotiable. MF is non negotiable unless it is marked up and not due to your credit score.

[JD81]

Easiest way to start if your new would be to first learn the terminology. Find the vehicle you are interested in, find thier respective MF / RV and incentives on Edmunds. Then the fun part begins compile a sample offer to a dealer that makes sense using the leasehacker calculator. Many times when you provide the MF/RV to the dealer they know you did your homework. I personally start by making the dealer assume I’m buying and work the largest discount off I can, Then you stack discounts. Your covering the cost of negotiated discount price and the RV (residual value) as stated that is non negotiable but a deep discount is.

[paraglide]

Thank you both, back to the books!

[HobbesMo]

The best way to do it, is to just do it.

1. Understand the lease process and components that affect your lease. Know what incentives you qualify for. Know the sales price that gets your the lease price you are satisfied with.

2. Start calling or emailing or smoke signaling (however you want to reach them without physically going in) dealers and negotiate the sales price.

3. Then discuss the details. MF, Residual, fees etc. I always stick with the base on everything.

Once you’ve made a couple calls, you’ll see what works best for you. You’ll know which manner you negotiate best.

[AngelOfDeath]

@HobbesMo

however you want to reach them without physically going in

That raises a question I’ve always been curious of, at what point do you test drive the vehicle? And how do you handle the salesman there?

[JD81]

All depends on the make of the vehicle and your location. I happen to live in a area where it’s 50 miles between the nearest luxury car dealerships. We have a few of each of the fords, CJDR, Chevy etc. My hope is to the hack the deal out of region where competition is plentiful and present that to my local for the exact vehicle I want. Less travel for me and then I can find a local guy who plays ball.

[cheapdad00]

@AngelOfDeath

That raises a question I’ve always been curious of, at what point do you test drive the vehicle? And how do you handle the salesman there?

Carmax or another large used dealer who sells multiple makes/models/years. Especially helpful in doing a quick comparison between similar vehicles in the same class.

Or go test drive at your local dealer and then bring your best deal back to them to match (from your email negotiation).

[HobbesMo]

I go in and test drive the car, ask questions, get a feel for the options and specs I want. When they ask if you are ready to put in an offer I tell them not today.

I take the person’s business card who invested their time and when I reach out to that dealer to negotiate at a later date I ask for the person who invested the time…they get a shot at matching the deal I am after.

By the end I call multiple dealers and negotiate over a day or two (or longer). Once I find one willing to accept the deal I am after I go in and sign the same day or next day if it’s too late in the day to close the deal.

The process seems straight forward to me. There isn’t an emotional connection. My feelings don’t get hurt if a dealer says no. I understand to get the deal I am after, the dealer is going to need to be in a position where they really want to make the sale to hit an incentive or there are a lot of manufacturer incentives avaiable. It’s just a matter of calling enough dealers to find the one.