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Are there any honest people in San Antonio or Boerne, TX you can recommend?
ОтветитьAppreciate this video is a few months old but hopefully someone can help! If we shouldn't give away our monthly price, what should you say when a lease sales rep asks "what is your budget for your new lease?"
Do I say something along the lines of, "monthly budget doesn't concern me I would like to get X% off the MSRP"? If so, what is a reasonable discount to ask for without getting laughed at or screwed over.
So my wife is a Mercedes gal, to be clear for step 1, you mean the price the dealership will sell the car to Mercedes Benz financial services as opposed to the price they will sell me the car at the end of the lease? So if her next cars MSRP is $70K, you are saying you want me to know what the price is that they are going to sell the car back to MBFS and I should try and get $65K. Thanks for helping.
ОтветитьI just found this video as I’m doing research for my third lease and it was very helpful thank you. Also the curly haired guy is super cute 😊 thank you for this video
ОтветитьCan’t imagine putting 0 down will go well with getting a car and getting the price you would like. Doesn’t make sense
ОтветитьHeyyy I have a question ! Can you Pls answer as I need a car ASAP! What about insurance? I think u mentioned they have gap insurance but for car dealers saying you can’t leave the lot without having insurance what would I say specifically to them in order to not have to pay for my own personal insurance? Or would I have to
ОтветитьBraaaaa you guys were sent from Godddddd u just answered literally EVERY question I had in regards to the zero drive off
ОтветитьI didn't know about the money down and the value lost...great info!
ОтветитьI have a new business idea. “Professional car lease or purchase negotiators.” For those of you who know the in’s and out’s of car lease/purchase negotiations, you could offer your services to people looking to buy/lease a vehicle but who also may not feel confident in the negotiations. You go in with the customer, sit at the desk with the customer and salesman and you negotiate the best deal for the customer. Charge a reasonable fee of $300 per negotiation for your services, which the customer would feel is money well spent in order to save yourself from getting ripped off. Do you know how many people would sign up for that??? Your welcome!😅
ОтветитьThis is obviously for people who have a slight grounding in the subject, not for complete newbies. They could clarify a few things.
ОтветитьWait so I’m confused in the sense of rolling everything in. If I do that for example on a 60k car and I say no money down, and roll everything into that payment, isn’t the cat going to be like 1000 dollars a month?
ОтветитьHey what do you think of paying a lease all up front in order to save $$ on interest for someone who has a lot of cash and is mostly concerned with paying the least amount over course of the lease?
ОтветитьAnother key to leasing: go the message boards at Edmunds and find out the posted program rate (money factor) for the lease you want (length/miles/zip code). Then you will know how much the dealer is marking up the finance charge and be able to use that to negotiate either a lower money factor than what the dealer quoted you, or as leverage to reduce the MSRP to offset that markup.
ОтветитьIf you have average credit, do you have to consider money down or is that irrelevant?
ОтветитьDon't lease a car, easy as that.
ОтветитьDoes this apply to companies like D&M Leasing who claim to have several dealerships that they can purchase cars from to lease to me as a consumer? Is there a mark up because there seems to be a middle man or should I think of D&M as just the dealer in any other scenario?
ОтветитьBad advice - I have been leasing cars for 25 years. The monthly payment is exactly what I concentrate on. BUT I know the term I want and don't deviate from it. I know the annual mileage allowance I need and don't deviate from it. I know what the manufacturer says the monthly payment should be - AT FULL MSRP. So I negotiate from there, always on the monthly payment.
I am arranging to rent the car the same way you would rent an apartment. The monthly rent is the single most important aspect.
OTOH, your advice is good if it is just a warning that people need to not allow the dealer to manipulate the monthly payment by altering some other condition, like the annual mileage allowance. But that is just the normal advice to keep your eyes open.
So I have a lease 2020 explorer xlt. Buy out is $26k with 17k miles on it. By researching, it seems that on average, they go for $30k give or take with a bit more miles. Would it be wise to buy it out at this current time instead of leasing a new one of the same model?
ОтветитьSelling price to the finance company? What does that mean exactly?
ОтветитьIs it true that dealers will offer different money factors for different trim levels of the same brand (ie Chevy Tahoe Premier vs Chevy Tahoe Z package)?
ОтветитьLiving in Metro Detroit here , leasing appears to be a simple process since so many qualify either for an employee discount from one of the Big 3 or another type of discount (example - Friends or supplier discount). I leased three Ram trucks between 2016-2020. The invoice showed the employee price (which I got from my dad). I always did absolutely nothing out of pocket. My most recent lease was on a 2023 Jeep Wrangler 4xe. Thanks for the great content !! 👍🏻
ОтветитьWhat happens if the dealer takes the first payment, registration, and fees out of a lease cash incentive to make it zero drive off? Is that something that pads their profit? What should a customer be asking for instead?
ОтветитьOne question, is a higher residual value better or a lower one?
Ответить@CarEdge you guys should speak on negotiating a dealer build and what to prepare for. I’m speaking for a friend 😏
ОтветитьCar buying is too complicated can I just pay someone to do this for me?
ОтветитьOh please come to Florida and help me before January.
ОтветитьWhat would be a normal acquisition fee?
ОтветитьDo I have to pay the first month of financing to drive off?
I was told this is a most; is that true?
Still a good idea to put $0 down, but it will save interest if you put something down. It’s not a cost-neutral choice. But still a smart choice.
ОтветитьJust found your videos and these are so helpful, thank you so much!
Ответитьmy car fund is now $81,000. In a financial emergency I can skip a monthly $500. I will keep driving my Cruze. When I need a car I will buy a new one cash. Thinking of a Tesla.
Ответить10.25 AM. Leasing is the worst way to buy a car. Leasing was invented by car companies in order to make car payments a way of life. Best way to buy a car is cash. I drove old beaters until I could afford a new car cash. I bought a 2011 Cruze Eco standard shift
Car runs great and I still love it. Since 2011 I have put $500/month in a car fund. With interest my car fund is now $81
I have a paid off ‘16 Nissan Frontier with 107,000 miles. Carvana has offered the most with about $15K to buy it from me. 750 FICO score btw.
Now I’m looking at 2022 hybrids with low miles to save on gas. Accord, Camry, Sonata. They’re around $28K. Meaning my effective loan would only be about $28K (+2K est. tax/reg) - $15K = $15K.
1) should I put a large chunk down to lower principle or wait til the first payment to put that same chunk on a $30K loan? What would save me interest, reducing principle right? If your loan is lower then your APR goes down too? I will get pre-approved through my bank for hopefully 6-8% APR.
2) the cars I’m looking at are only a year or two old. Meaning they are largely still under warranty. Should I not bother with extended warranty that may be upsold?
I think you mentioned it, but now I can't find it... if I'm negotiating off of the out the door price, what can I expect a. monthly lease payment to be on average for every $10,000 of the full price?
ОтветитьWill a lease on a electric vehicle qualify for the tax credit
ОтветитьIf I am paying nothing upfront, then why would I care what the purchase price or the money factor is? All that matters is the monthly payments!
ОтветитьHold the phone. I want this high yield savings account, where I can apparently earn 36% on my money. I could retire today!
ОтветитьYou two should offer either buying or leasing services for potential customers ❤
ОтветитьThanks to this video and your clear explanations of these factors, I was just able to confidently negotiate with a sales manager who tried very hard to not discuss the total price of the vehicle the bank would pay or the money factor. I was able to get a $1650 discount off of msrp and a significant reduction in the money factor when he came back to me with the new numbers after my initial “not going to work for me response.” Thank you very much for advocating for the buyer and providing such valuable information when the dealers continue to not only squeeze the customer for more money, but attempt to crush them in these transactions.
ОтветитьThose manufacturers leases require money down most times.
ОтветитьJust walked out not 20 minutes ago. We agreed on an out the door price verbally and then they wanted to add fees on the back end of approved financing. I’ve got good enough credit to not even put anything down.
They didn’t even debate the agreed price off the sticker thinking they’d get me. As soon as they said they couldn’t do the agreed price with one place but they have a relationship with another for an addition $7k I got up
“Sounds like your hands are tied. I’m not speaking to a bank for you to promise that I’ll be paying them that additional finance amount.”
Oh I misunderstood… “it’s ok you have my number and I’ll pay what we agreed on”
I negotiated 5k off for new tires and saving time to sit at a dealership recall work which it did not get done.
I assume they wanted me to pay more because they’re simply too greedy to make a good deal
My key points, most of which in the video:
1) do the homework on lease specific incentives and the lease money factor from the mfg leasing company before going to the dealership
2) If considering an EV lease, confirm if any available tax credit $s are being fully passed through to the lessee as a cap cost reduction versus being fully or partially held back as profit
3) confirm who the leasing company (lessor) actually is, i.e. make sure there is not a 3rd party leasing company being inserted into the deal, only deal with the mfg's finance company
4) and as illustrated in the video confirm your lease includes GAP as a default item...
I am turning in my lease in 4months, but plan on leasing again. I bought gap insurance last time, is it recommended to get gap insurance again. I have the best coverage with Triple A, so is gap insurance worth it.
ОтветитьUnless you like a new vehicle/car every three years or can't afford the monthly purchase payment for a 36 month loan, it seems like purchasing is a better option, especially if one gets a very low interest rate.
Maybe a lease makes sense for low reliability vehicles, but since even the poor quality vehicles seem to go 100,000 miles without repair, I'm not sure....
“Fair Deal.” What a loaded phrase. What makes any price fair?
For decades now, my attitude has been that if the dealership loses money on one deal during the year, I want it to be mine.
Fairness doesn’t apply here. It is a competition. I want to do better than the the dealer. But, the dealer has many advantages. Most significantly, they have a much better understanding of Supply and Demand in this market for this week than any customer can have.
Still, the best defense is to focus on the OTD price. And don’t be emotional.
unfortunately there are no high yield saving account that will pay you more than 5 % :P
ОтветитьWhat happens for cars that are let’s say over $150,000 that you want to leave because it’s the most advantageous wait purchase it. Often times no matter who you are or what your credit score is you cannot lease it without 10% down what do you saved about this?? Likewise single pay leases with gap insurance.
ОтветитьHi new subscriber here. I love all of your videos. I wish I found you guys last year when I bought my first car lol. 😢❤️😂
speaking on this, and I just realized tonight that my car did not come with any factory mats. I bought it right from the Hyundai dealership too.
What do I say to them to get my car mats? I know that they’re going to try and make me buy some but I’m not going to pay for some thing that is supposed to come with my car.
me watching this realizing the scummy dealer did all these things to me and gave me a terrible deal :(
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