Anyone leased a car? I need advice.

posted 1 year ago in The Lounge
Post # 2
Member
1109 posts
Bumble bee
  • Wedding: September 2017

Yes absolutely! They’re obviously going to present you with the price and terms that work best for them at first. You have to negotiate down from there. It could also be beneficial to get quotes from multiple dealers and bring them to the next dealer and just ask what they can do to beat it. Get it in writing. Bring it to the next place. They all have the same cars, so it doesn’t really matter where you get it from.

 

Good luck! 

Post # 3
Member
10953 posts
Sugar Beekeeper
  • Wedding: City, State

Anonymous1063 :  

More no than yes. You can haggle the sticker price down, but, they’ll find a way to bury the difference some where in the lease.  Dealers really don’t make huge commissions on car sales, especially new cars.  Their overhead is astronomical.

Wanna guess where they make all of their money?  Selling financing.  Traditionally, leases have always been the most lucrative for the dealer.

They’re fraught with peril for buyers.  You will have less bargaining power.  Expect to be told “this is how we have to structure the lease”, when you don’t care for the terms.

Most of the time, people lease because the payments are lower.  IOW, it’s a chance to get into cars they can’t afford.  The dealer knows that and he will use it to his advantage.

The one exception is Carmax.  We’ve dealt with them many times, they don’t play dealer games and they offer quite a lot of financing options.

Whatever your reasons for choosing to lease, please do your homework. Learn everything you can about auto leasing.  It is too easy to end up seriously upside down.

Good luck with whatever you decide to do.

Post # 4
Member
2465 posts
Buzzing bee
  • Wedding: May 2017

sassy411 :  Question, why don’t they make a lot off of new cars? Where is the money at then? Pre owned certified or something?

Post # 5
Member
10953 posts
Sugar Beekeeper
  • Wedding: City, State

DoubleD :  

The manufacturers just don’t pay very well to move new inventory. Yes, used cars bring in quite a lot more.

And financing, the big money is in selling the financing.  

Try going to a new car dealership and ask the sales representative what the cash price would be on any vehicle.  You absolutely will not get a straight answer.

This is another reason to love Carmax. The price is on the sticker, take it or leave it. I like to buy slightly used, ie 3000-8000 miles.  It’s functionally brand new, but someone else paid the depreciation.

Oh, and never take a man car shopping with you.  They think they can beat the house and get a “good deal”. The male ego really causes a lot of trouble.  They don’t get “good deals”.  They get terrible deals. Dealers know exactly how to work them. They think they know everything.

Just surrender.  It’s a rigged game.  You can’t win.  They didn’t build their nice, big showroom with money the customers saved.

The dealer has a minimum he needs to get for the car. Everything else is noise. They have plenty of tricks for burying extra charges all over the place.

Then there is the trade-in scam.  Men always think they made out like bandits. The dealer got your trade for free.  He buried what he “paid” you in the price of the new car. If it’s in good condition with low miles, he’ll detail it and put it on the line.  If not, it will be sold to a wholesaler.

Carmax again.  They outright buy your vehicle, it’s not part of any sales negotiations. You can sell a car, take your check, and leave if you wish. We have consistently gotten good prices, the last one was a shocker. It came in higher than it had booked out.

Unlike men, we can accept that we won’t “win”. Customers never “win”. The goal is to get the car you want with the least amount of emotional and financial damage.  The dealer’s gonna win.  

Buyers with less than stellar credit get really taken advantage of.

The absolutely worst car buying deals I ever got into happened when I had men along to “advise” me.

Now we just do Carmax.

Post # 6
Member
2465 posts
Buzzing bee
  • Wedding: May 2017

sassy411 :  I ask because the car I’m wanting to buy next year would be brand new and it’s not my preference, but the car isn’t being produced enough right now so I think it’s unlikely I’ll be able to find it used. It’s  a brand new 2019 model and I doubt they would work with me about financing since there’s nothing to negotiate on a brand new imported car. Dh and I are like you though and would prefer something lightly used still certified. 

Post # 7
Member
2465 posts
Buzzing bee
  • Wedding: May 2017

Bee, I posted something similar two weeks ago. There was a lot of helpful advice and it helped me decide against leasing mixed with the fact that I never have before. You should check it out.

 https://boards.weddingbee.com/topic/have-you-leased-a-car/

I don’t know why it’s showing up blank once I post it. If you can’t see it just go to my page under “threads I started” and you’ll see it. 

 

Post # 8
Member
243 posts
Helper bee
  • Wedding: November 2017

sassy411 :  I totally agree with you. We tried a regular dealership yesterday and the sales rep and dealership manager thought they could talk me into submission. I asked for an itemized estimated bill and it was like pulling teeth. They kept pushing the “how much do you want your monthly price to be” BS. I had done my research ahead of time, decided in how much I wanted to pay for the car (sticker price), calculated the fees for title, sales tax, etc before hand and had a list of cars I wanted to see at 3 different places. We ended up buying a used car from Avis Car Sales (#2 stop on my list). My previous car was from Hertz Car Sales. Both are similar to CarMax in which they have a no haggle price listed and they are very transparent. I would recommend both to anyone. I was able to get a new “used” 2017 car for an unbeatable price with low mileage and brought my own financing. 

It is so easy to get upside down on a lease. And to me it seems like a waste of money but many people lease to drive higher end vehicles that would otherwise have high monthly payments if they financed.

Post # 9
Member
11592 posts
Sugar Beekeeper
  • Wedding: June 2015

I didn’t haggle with mine. The reading I had done informed me that pretty much Audi sticks with what they’ve got it listed for esp the next year vehicles like mine, and frankly I appreciated that.

I did end up upgrading from what I went in to buy, but it was fine as I love my vehicle. The payments aren’t cheap, and nor was the down payment. But I’m happy with it and I get good valet service with a loaner. Right to me, which suits my needs re my schedule. 

I would read the car sites like car and driver and others – they have lease calculators and people discuss the room for negotiating. 

Lots of bees hate leasing, but a friend of mine whose family owned several dealerships still leases to this day, because she writes if off on her unrelated business expenses, so it can work for people — and some who know what they’re doing choose it. It’s just a matter of your specific situation. 

You have to be in control of your money and know why you’re leasing but it’s not always about getting into a car you can’t afford like PP have suggested, though I have seen people use it that way.

Post # 10
Member
643 posts
Busy bee
  • Wedding: March 1988

sassy411 :  Respectfully,  I find your comments on male car buying behavior bordering on sexist and offensive.

While that may be your experience, it’s definitely not everyone’s. The men in my life are EXTREMELY financially savvy. However, I would never presume to to tell any one to bring a man with you to purchase a car… Based solely on my experience.

Buying a car is about being financially responsible, not about gender.

Post # 12
Member
10953 posts
Sugar Beekeeper
  • Wedding: City, State

Anonymous1063 :  

Upside down refers to that most unfortunate position in which you owe more on the vehicle than it’s worth.  Don’t get wrapped around the axel on calculating “worth”. Most people way overestimate the value of their cars.

The trouble with being upside down is that there is no reasonable way out, you’re pretty much stuck. If you want out of the car, you can’t sell it without paying the gap out of your own pocket. If you try to trade it, you will be completely at the mercy of a dealer who will roll you into something more expensive. 

Post # 14
Member
2465 posts
Buzzing bee
  • Wedding: May 2017

I have NEVER heard of a car payment lease or finance being $59 a month. What car supposedly!? Am I missing something?

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