Here’s my story on the $215 BMW wagon.
The whole MO tax thing is weird. BMW Financial is only billing me for $234 a month now with the tax. So… who knows.
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It is uncommon to get 1% for high end trim. Most of the leasehackr deals here are mid level or base trim. Not saying its impossible but you have to be looking at the right place at the right time. And maybe this month is not the right time.
My Santa Fe Limited Ultimate is .85% but I have to time that one and do a lot of research just to get it. I can usually lease mid level trim between 0.3%-0.8% without even trying.
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On the contrary it’s sometimes the highest trims that get the best deals because there is a lot more padding for dealers to discount. Especially true on cars that have residuals set to the model, and not specific trims. Example being BMW. Was easier to get a better deal on a $53k 3-series than a $35k one. But that residual was the same no matter what.
Now things like the Jeep Cherokee, the MF on one trim is 0.00180, the MF on another is 0.00001, with similar residuals. That’s a BIG difference.
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You do realize when people speak of 1%, it is referring to MSRP, not selling price, right?
Everyone’s definition of 1% is different, which is one reason it’s a silly benchmark…
I agree with that especially when you consider mileage allowances. Not everything is created equal.
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This is also the reason a lot of focus is spent on luxury models. If the minimum is you need leather seating (or fake leather these days), the luxury model has it on the base unit, whereas the mainstream model has it on the 3rd or 4th highest trim, and the luxury model with that requirement ends up leasing for less.
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2019 Jetta SE
I don’t know about “silly.” I think the percentage of MSRP is just as good a measurement as any, but I’ll qualify that by saying it is only useful to you when comparing your own deals to each other or even deals in your own state (sometimes own city where those taxes and fees differ). But whatever it is, as long as it is measurable and comparable. Most people here seem to be able to do the math regardless. But I think it is useful to have a “rule of thumb,” at least for yourself.
I somewhat agree to the sillyness of that 1% rule. As mentioned, there are different rebates, state tax, incentives and motivation for dealers to move cars off their lot. On top of that, dealer’s supply and demand, dealers / sales guy honesty/reputation and own personal character traits may play a big factor in getting a good deal or not.
I have walk in shitty dealership and got a very good deal (or worst deal) but didnt like the experience. Other times, i lease to a nice dealership even though i know i can get $10 / mo lower in the shitty dealership but hey, maybe i like the free popcorn. coffee, clean waiting lounge and nice sales people. Why not buy from the lowest one and service it to the good one? I want to support that dealer and nice people working in it. I think thats more important than just always finding the lowest deal. So to me, its not just getting the best leasehackr deal of 1% or lower and get bragging rights but the overall experience.
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1% can be had on just about all vehicles depending on the time of year and how you structure your opening emails to the various sales reps your dealing with. Emailing a deal from here and saying do this will get you shutdown faster then anything. Allow the dealer to feel in control and brining them a competitor who is in fact beating them is a way to start the decent to true 1%. I have to say chasing deals is almost as much fun for me as driving the vehicle I get.
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I think that’s a very silly comment to make. Not all vehicles can be had for 1%. Some just don’t have lease support to make it possible.
Show me when is a good time to lease any Porsche that meets the 1%.
Ahhh the forum 1%er the OP was not talking high end luxury brands but Porsche will never lease for 1% due to the volume of vehicles they produce per year and residual value of the vehicle.
it gets a bit confusing since lots of people say negotiate the price of the car first but then people say that the 1% is on the MSRP. So should I not expect to get them to come down off the MSRP and just go for 1% of that for a lease? I’m confused. I would think I would want 1% off of whatever the capitalized cost is once I got them down a little.
I’m with ya, I haven’t been anywhere close to the 1% in N.C. I’m mostly dealing with Chrysler. Best I got was $554 on 44k challenger. With 3750 lease cash at that.!
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Start with giving yourself a “good” discount off of MSRP. Say 10% off, with the caveat that brands are different and that might not always be possible, but it’s at least a decent middle ground for mainstream brands. Learn the programs. Reach out to Edmunds for the residual, money factor and lease cash for what you are looking for in your area. Check autobytel and Edmunds for additional rebates like loyalty, etc that you can stack. Calculate everything and see what % of MSRP that payment is. If you need a couple more % off the car to get to 1% or less of MSRP, then it’s probably possible. If it’s more than that, you’re gonna have to search and grind it out. If it’s a drastic amount, then you are probably wasting your time and should focus on a different model car.
The 1% rule is a terrible benchmark for an individual deal. There is no mathematical proof behind it. The number is a guess, pulled out of someone’s ass.
If you want to know what a vehicle can be had for, you will need to do the research. There is just no replacement for this.
Values are relative, as someone else here already mentioned. A 50K Audi, and a 50K BMW will not lease the same, but both can fall into a 1% scenario. So how do you know what is the right price? Based on 1% you should be all in for both.
Find the bottom dollar price for the vehicle you want, and grind. If you need an easy 1% answer, you will not get the best deal possible.
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I don’t care what dealer is more honest, has popcorn or free blinker fluid top offs, I get quotes from all of them, then grind every last cent out of them until I get the lowest payment. Then I go in sign the papers and drive off. Honestly I don’t even care what the place looks like, and if they will come to me even better.
No matter how many times this is said, it goes in 1 ear and out the other. I’d sure like to know who created this internet lore in the first place.