Please keep this thread on topic
Iāve only financed new cars in person in the past. This one is over 2 hours away so Iād like to know if Iām approaching this the right way. Iām looking to do either a lease and buy it out right away, or balloon financing, to take advantage of Kiaās lease incentives.
This is for a '19 Kia Stinger GT2 in Arizona, in-state for me. I have a specific stock # picked out.
Hereās what I was thinking of doing:
- Call dealer, ask to speak with an internet manager
- Give them their stock # and model/trim/color. Ask for them to get back to me on whether itās available, and whether miles are low (<100, not looking for a demo), and if there are any other issues such as repaired lot damage. Find out local tax rate and doc fee. Also, see if theyāre familiar with balloon loans.
- Prepare an offer for the adjusted capitalized cost. I have a trade-in so that would be included in the offer along with a copy of the CarMax price offer Iām looking to match. The dealerās online price looks good, so otherwise Iād just be plugging in the numbers.
A few questions:
- The adjusted cap cost is what I should be negotiating if I only care about the OTD price and not the finance charges, correct?
- Is this a good way to go about it since I have a trade, or should I have them first write up an offer to me and go back and forth a bit on price if they pile on some dealer add-ins?
- Since Iām over 2 hours away, Iād like to hold the car for a few days if we agree on a number. How far into the process can I get without being there in person given that I have a trade-in? Iād gladly make a deposit by CC.
Thanks for the help.
Donāt call. Only email.
Local tax rate shouldnāt matter. Things should be based off of your tax rate.
Negotiate the deal on the new car before introducing the trade in.
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Generally, you want to negotiate on pre-incentive dealer discount, understanding what the mf is (as some dealers will offer a bigger discount but mark up the mf) and keeping an eye on dealer add ons/other places they try to add profit back in.
Why is it you say to email rather than call? Thereās only 1 of the car Iām looking for around, so I wouldnāt be shopping the number around. Iād still request all the numbers by email, I just thought if I make first contact by phone theyād know Iām serious.
The dealer discount is already enough below invoice that it looks good, so Iād just need to watch out for fees or dealer add-ins.
Should I have them make the offer first, or should I?
Because you want everything in writing, especially if youāre traveling from further away, and it gives you a moment to formulate your responses without any pressure.
Be careful with advertised dealer discounts, as they often include every incentive offered, regardless of if you qualify for it or not. This is why itās best to negotiate on a pre-incentive basis.
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There are so many threads on this. Look for āwording emails for the deal.ā
If anything, you negotiate over email so that you have it in writing. Imagine trying to go to a dealer, ābut he told me this!ā āYeah, prove it.ā
Agree! Never cold call or go into the dealership. Do your homework prior to dealership contact (know all discounts, rebates etc.) then contact dealership (I generally send an email to the GM with solid numbers/quote/including my zip code/stock number etc.) and tell them if they can beat the deal (applying known discounts). I also ask if they do MSDs as well. In the email or text I also include I only respond to emails until agreed numbers are met.
I generally take it up a notch and go to multiple dealership with quote and see who comes in the lowest. Then I call and ask questions (using as much lingo they use) like what is the MF, residual, if they deliver, can they sell me accessories at dealership cost etc. That tends yo make them think I know what Iām doing/saying.
If I get the car from their dealership (if they deliver or not), I tell them I will send a copy of my license and insurance so they can start the lease contract and other paperwork I need to sign. Then I tell (not ask but tell) that when the paperwork is completed and car is prepped (cleaned) give me a call and I will come down, inspect, sign and drive. Lastly I ask to speak with finance, and report that all I want is the car and no other packages (marked up security, 3M stickers, special paint coatings, wheel/tire packages etc.).
It seems now a days, finance manager wants to go over the pre-signed paperwork and that is where the marked up crap he/she wantās to sell you.
Sometimes you can ask not to go through finance but seems itās standard policy.
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I am not a long term member here, but have been leasing for years. Also always email dealers who donāt have the car but have one within 200 miles. I had a dealer who was giving me a lot of BS about Patriot act credit check, walked away, went to a dealer 10 miles away(emailed) had them do a dealer trade and they ended up giving me a better price because they were close to their month end numbers.
Rule of thumb. Always have your credit frozen when you go to dealership. Always apply directly with the lender and always go in to the dealership the next day to give your thawed report to be frozen again
Hi all,
I continue to receive responses from dealers saying they wonāt give me a selling price unless I come in. Does anyone have tips on how to respond to this in a respectful but firm manner? I want to be respectful of their time as well as my own time.
Thanks!
Usually that means itās time to find another dealer. The ones who refuse to give pricing over email or at least the phone probably arenāt worth your time. At best Iād say something like āThanks but Iāll continue my search then, feel free to reach out when you are able to provide pricing via email.ā
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Let them know you are shopping pricing from x amount of dealers and whoever gives the best pricing will get a commitment from you today.
āI travel for work and donāt have time, Iām really trying to narrow down the numbers to a dealer thatās aggressive and wants to make a dealā Something along those lines and email at least 5 dealers to start
Tell them no. If they wonāt work with you after you say no, find a new dealer.
I generally just ignore those responses. However, last week I went into one of those dealers. They had the largest inventory of the vehicle I was looking for, and I wanted to see color combinations other dealers did not have. After about an hour of looking at cars, we sat down to discuss pricing. The salesman asked what discount I was looking for, and I told him I wanted a $20,000 discount (on a $40,000 car). I then told him the discounts other dealers had offered, and asked if he could beat them. He then asked me to fill out a credit application, which I refused to do. He eventually said he could beat the offers, but that he could not agree on a price until I filled out the credit application. I then left.
Thatās totally my line and youāre welcome 
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hey guys trying to get a good deal on a Tacoma trd off-road locally! trying to word this email well so the dealer knows iām serious. this is what the email reads.
hello, i have test driven this vehicle and am very interested in leasing it.
iāve noticed the stickered price of 39,152; would you be able to do near 11% off msrp, pre-incentive?
additionally, incentives look to be about 2500.
(1750 lease cash)
(250 black Friday cash)
(500 student cash)
money factor also looks to be .00245 through tfs.
i would also be interested in doing msdās.
my preferred terms would be as follows;
sale price: 11% off msrp
incentives: $2500
money factor: .00245
term: 24/12k
9 msdās
if we can come to a similar deal i would be willing to move fast. Thank you and i hope to hear back soon!
are my numbers good? and is the email worded alright? thank you!
Who exactly are you emailing at the dealership- The Sales Manager? General Sales Manager?Etcā¦
Thank You
If they have an internet sales person/department, look for one of those people on their website. Failing that, I will find a specific car I like and put all my questions into the form that pops up when I click āget E priceā or āget more infoā link. If the dealership is open, youāll likely get a response within minutes.
Funny you say this. I have been getting more and more tire kickers and ghosts on LeaseHackr these last 5 weeks than ever before.
Someone in this massive equation has improper expectations.
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