Keep in mind that 90% of the time the “target offer” email won’t work because the proposed deal is too ridiculous, the sender screws it up or the dealer is not interested.
Most people should just use a broker.
This all really applies to a lease, but can apply with some changes to a purchase as well.
You have to do research on here and elsewhere to see what a realistic target might be by looking at other deals, brokers, etc. You also need to know all of the incentives available (like being a Super Supporter on here, Edmunds, etc.) and hopefully know if there is any trunk cash (like there is/was on an Acura ZDX right now). You also should have Tier One credit and confirm that in advance.
The target deal will be based upon a certain % off of MSRP, then all incentives applied, a base/buy rate MF with zero markup, MSDs or not, DAS or money down or not, zero ADM and the elimination of costs for factory, port or dealer add-ons if possible. The dealer needs to know up front from you that the % off of MSRP DOES NOT INCLUDE incentives as they often will try and combine the two. Like any negotiation, the initial and proposed deal monthly number should be LOWER that what you expect to ultimately pay on your target number. If you start with your ACTUAL target number it can be hard for you to get that as the dealer will want to counter and almost always come in higher.
Plug your numbers into the LHer calculator and write up an email based upon the numbers. The numbers should all be broken down very much like they are in the LHer calc BUT DO NOT SEND THE LHer CALC or something that looks just like it. The email should be to the Sales Manager(s) and/or General Sales Manager if you can get that info from the dealer website, otherwise you just submit it and sift through the first-level employees.
The email should be very, very short, list the stock # and VIN # of the car and tell them you are ready to lease/buy ASAP and will be there as soon as they confirm the deal via email AND have the paperwork ready to sign. DO NOT SAY THINGS LIKE “I love this car” or “This is the exact spec I am searching for” or “I am cross-shopping this and ___ and ____.” ONLY send this email when you are absolutely ready to go on THAT unit.
If you get a deal going, they will need your DL, proof on insurance and want to run a credit check in advance (and you should unfreeze your credit at that point BUT ONLY when you have the deal confirmed). DO NOT AUTHORIZE A CREDIT CHECK UNTIL YOU HAVE CONFIRMED ALL TERMS OF THE ACCEPTABLE DEAL AND YOU ARE READY TO SIGN AND TAKE DELIVERY.
Be prepared to be ghosted, insulted and told “we will lose money on that car with your numbers” by most dealers. Do not engage by telephone unless you absolutely have to. You need to realistic, persistent and not emotionally wrapped up in any deal, car or whatever. Engage in the back and forth and even follow up later with some that told you “no” originally. Be firm but be polite and professional at all times.
Also remember these points:
- Don’t start this process 3 days before your lease turn in or when you need a car today
- Try and keep any trade in out of this whole scenario. It can be done, but it can make a great deal bad, make the dealer be less inclined to do the deal and/or make the deal more complicated very quickly
- Do not step foot in the dealer until the deal is done and ready to sign. Test drives and tire kicking should have happened weeks before this point.
Others can chime in but this is what has worked for me many times. Good luck with the process!
