Question for those who have leased: How can you negotiate the price aside from full value of the car
07-14-2002, 10:10 AM
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Question for those who have leased: How can you negotiate the price aside from full value of the car
IE - from what I can see, the only place you can negotiate your lease payments to be lower is in the original sale price. After that, it seems like a pretty fixed method to come up with the monthly lease payments.
Is this right?
Also - anyone ever heard of someone getting a Porsche below MSRP? I don't think I've ever seen one go for less than that, but I wanted to know if it's even worth trying.
Is this right?
Also - anyone ever heard of someone getting a Porsche below MSRP? I don't think I've ever seen one go for less than that, but I wanted to know if it's even worth trying.
07-14-2002, 10:18 AM
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You are right...it is basically like buying a car. Your payments are determined...
by the actual purchase price of the vehicle....and what you want to put down, of course. But, it is a good idea to put as little as possible down on a lease.
07-14-2002, 10:27 AM
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Re: Question for those who have leased: How can you negotiate the price aside from full value of the
The main goal if you are going to lease is to negotiate the price of the car up front- never going in looking for a specific payment because this may allow the dealer to make some extra money. Of course unless you come up with a ridiculous payment- then the dealer will tell you to pound sand. The other factors involved in the lease payment but carry less weight are the service charge factor (interest equivalent) and residual. The dealer may have you set on a price but may bump the service charge (money factor) up to make some extra money for themselves. Make sure you are always getting the lowest factor allowed based on your credit score or programs offered. You can also lower your payment but increasing your residual- you can do this by lowering the allowable miles per year on your contract- Most banks set residuals based on 10k, 12k, and 15k miles per year. A 10k residual maybe 3 points (%) higher than a 15k which means you are paying less depreciation over the term of the lease.
Sorry about the long response.
Sorry about the long response.
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07-14-2002, 10:51 AM
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yes, you can get a porsche under MSRP...
and pay the few bucks and spend a couple of hours studying this website:<ul><li><a href="http://www.leaseguide.com/">http://www.leaseguide.com/</a</li></ul>
07-14-2002, 11:52 AM
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Don't forget that the buyout is negotiable also. My buddy's Expedition just came off lease and the
buyout was $21k+. He told them forget it they had to do better and they came back with $15,800. I was amazed. I never knew you could do this, but he pointed out to me that if they take it back they just send it to a wholesale auction, so they are willing to take the wholesale auction price for the payoff rather than the official payoff amount. If you think about it, this is an incredible deal. You get the artificially low lease payments for three or whatever years, and then the leasing company in effect takes the hit for the depreciation. I bet if you totalled up the numbers he got an unbelievable deal on the truck. Perhaps the leasing companies are predicting values better nowadays so this will not work.