I joined Leasehackr nearly a year ago to learn how to maximize my savings on my next lease. Plain and simple.
Over the past few months, I have absorbed a lot of knowledge about additional incentives such as OL codes (BMW-specific), Penfed, post sale rebates, and other discounts (such as Costco) offered by some manufacturers. The bottom line is knowledge is power. What you do with that knowledge is up to you.
I understand that some feel financial advice should not be given to folks who are just looking for feedback on their deal. I get their point of view, however, if I can point out to someone that their credit score/history is impacting their total lease cost then what’s wrong with that? What’s wrong with asking someone whether they are “married” to a certain car? What’s wrong with recommending that they wait a few more months or until their existing lease is up, instead of rolling in negative equity into their next lease? What’s wrong with recommending they look into with working with a broker if they can save some extra cash?
Even if you can afford a certain car or a 4 digit monthly payment, it does not always mean it makes financial sense. I am no CPA nor financial planner, however, when I see a fellow member being taken for a ride by a dealer or sales person due to their sub-par financial health, I do not see anything wrong to call it out and offer some suggestions.
Lease hacking was a natural segue for me since I’d been in the miles and points game for so long. I was already hacking everything else, so I figured cars could be hacked, too. Plus, it just never felt right coming home from a First Class trip the St Regis Maldives and driving home in a 1992 Saturn SL
I eventually found what looked like a ridiculous deal on a Genesis and after I locked it in, I decided to stick around and help grow the community.
Maybe I am already jaded, but I have noticed more and more newbies (like the member who asked for 20% off on an M340i loaner) do not bother to look at the whole picture when comparing deals.
On a different note, it is interesting to read about some folks ready to put up a 5 figure down payment just to qualify for a lease.
I joined so I could post nothing except the monthly payment on a mystery car, title the thread “deal check” in the wrong sub, and have everyone spoon feed me
