We always preach around here to put as little down as possible and the pre negotiated deals have over 3K in drive offs. I think the deals are very misleading, as they aren’t nearly as good as they seem with such a large drive off.
Why don’t we practice what we preach?
Which deal are referring to?
$0 down means $0 CCR. Any deal can be structured as $0’DAS, if you want.
I understand the difference between $0 down and $0 drive off and we can have a whole other discussion about how that is misleading to people who don’t know as well.
$4300 in drive offs is huge. I understand you can structure it to be $0 drive off but then the monthly would be over $100 a month more a month. I just don’t think it is very genuine. I have seen numerous posts where we pan brokers for doing the exact same thing. Is this deal better than most people will get walking off the street? Probably, however why not write the drive off amount in the title like we make all brokers do on their posts?
Those are the typical drive-off amounts for a NJ deal, as taxes are due upfront. Almost all brokers on here in that region list their deals the same way.
OK, then why not add that in the title so everyone can get the full picture like we require brokers to do?
Different shoppers have different motivations and risk tolerances for lease structures.
The only thing that matters to me is total lease cost.
I loathe paying finance charges more than I fear a microscopic risk of a negative outcome that might or might not cause a low-four-figure dollar loss.
I agree. That info should be provided in the banner ads.
Tagging @michael and @littleviolette for their input.
I sent a message to Michael and violette about this exact issue. I have an increase of people asking me to beat “advertised” deals here.
I have to constantly explain to them that my deals are just first month upfront. These other deals are misleading to new users. Obviously the regulars here understand how it works. I feel like some people are hoping that new users don’t compare their quote to other brokers.
There needs to be standards in advertising here. There’s only 2 variables we can’t include in our pricing, tax and tags. And maybe doc fee if you represent different regions and multiple dealerships.
We’re getting to the point where deals have fine blurry print you can’t read like in newspaper dealer ads
Me too.
Lease is all about payment!
This seems to be only a problem with East Coast brokers. West Coast brokers list exact DAS amounts, even with varying tax rates.
We have asked brokers to list the DAS amounts in titles, but they keep insisting on typing “inceptions+fees” instead. The updated Marketplace guidelines does state to put an estimated dollar amount now, so perhaps we will start enforcing this more closely.
These are just like car dealer ads, here is the mediocre monthly payment you can get to in bold, but read the fine print. I guess they are decent deals for someone who just wants to do 0 leg work, sign a check and drive but they aren’t good deals.
NJ is not a requirement that you have to pay the taxes upfront either, they can be worked into the deal. Some of these ads are 4-5k out of pocket with option for MSDs, so someone could potentially write a check for 8-9k to walk out with a mediocre monthly on a little bit better than base model.
Yes inceptions is a very misleading term and my main issue with ads here. I can advertise my deals for whatever price I want to beat everyone else if I add the term inceptions to my deals
Including incentives is the other issue I have. 95% of people with a Toyota don’t get a loyalty incentive on their next one. Toyota mails them directly to the consumer and I’ve seen maybe 10 of them out of hundreds of deals.
Must be a one armed blind real estate agent to qualify. We don’t want to devolve into this.
Bank fees are the other misleading inception. No reason they can’t be added into the advertised price except to mislead people and undercut pricing of other brokers/dealers. Issue is if one broker advertises without bank fee, then we all do and it becomes a lowest common denominator situation
If I pull bank fee out of my price sheets my cars automatically become 20-30/mo cheaper. That’s a huge difference.
@michael & @littleviolette Not sure why these pre-negotiated deals don’t come with a LH calculator? Tax rates can drastically impact inception fees. A LH calculator will truly get rid of all these confusions.
Peek-a-boo there it is! I guess I didn’t look hard enough. My suggestion then is to make it more prominent because no one would know it is a LH calculator without clicking on it. I thought it was just link tagging ads like on other sites.
Typical dealer marketing. Brokers do it too, FYI.
Nice low payment BUT with “inceptions, fees “
Most people look at the payment and get hooked on that while initially ignoring the other factors . …
$299 with inceptions, fees sounds much better than $410 a month 0 DAS.
I understand these deals bring a larger audience and a certain cache to the site. I just feel like they are the antithesis of what this community was build on and no different then a lot of manufactures based advertising we always tell people to ignore.
Antithesis is the exact term I used in my email. This community is built on transparency and corrupting that leads to no standards. Price discovery is the ultimate goal here not deception.
Love the new rv/mf function on the calculators also
Hi @CapsCup2018 ,
Thank you for the feedback. Let us get back to you as soon as possible. We have been quite buried with everything that has been going on (new RV/MF features, new inquiries, forum administration etc.).
For the record, it is against our interest to mislead customers or do a bait and switch given that our capacity has already been stretched thin.
While I would rather see these advertised as $0 das or only first month due, claiming they are deceptive or not transparent when there is literally a break down of every cost and a pre-populated calculator is a huge stretch.
