My Car Leasing Story & how i lease my cars in 2020
What's up guys nom here, we are typically talking about personal finance and investing, and today's topic we're gonna be talking about how to negotiate a car lease like a pro but seriously. Why would you want to listen to me? I'm not a car salesman nor broker, I'm just a regular dude who knows how to research and lay down the facts to get the best deals in a video I've made not too long ago.
I talked about how I was able to get a one percent lease on my Acura RDX I'll link it in the description below. So in that video, I show how I was able to get a thirty-seven thousand dollar car for a monthly payment of around three hundred and four dollars a month with no money down. But what this video is gonna be focusing on is that negotiation part and how to get the best lease deals 2020 ? Let'S get into it. Two things go into negotiating a car lease, the research, and the actual negotiation. So let's go over the first part.
This is probably gonna, be the most important thing to take away from this video, and this is the research you want to spend around 80 % of your time researching. The deals don't expect to go up to a car dealership and expect to lease a car for whatever you think sounds right. Negotiation is a verbal dance that you playback and forth where both parties meet at a mutual agreement, not all cars, salesmen or scums or sharks. There are a handful of car salesmen that brutally honest and they'll.
Tell you the best price that they can give you. You want to save as much money as you want to and they want to make as much money as they can. So if you look at it this way as a customer, if you have not done the research and know what's a fair price, you have no leverage in a negotiation as a car salesman. They know their numbers, they know how much they bought the car for and they know how much they have to sell it to make it a profitable business. But you might be asking yourself, but what do our research? This is the exact order that I take or research at Carly's.
I focus on what others are getting to know what others are getting. You need to jump into car forms like Edmunds or lease hacker before I even start looking into what car should get. I like to look at what other cars or people are, releasing the reason why I look at what other deals people are getting. Is that give me a baseline to work off of say? I decided I wanted to lease a Lexus rx350 if nobodies are leasing those cars and talking about it then most likely these cars are not leasing too well or to show off the deals.
So you want to find a great deal. Usually one sees what somebody has already gotten. It'S gonna be that much easier to copy that deal at other dealerships when you're looking at other people's deals, you have to look at where they got the deal because living in Southern California. I can lease a car for a completely different price compared to someone who lives in Washington. Lease deals can be completely regional. After that, I like to look at the terms of the lease just because somebody posts their deals, you have to double-check to work. It'S like blindly investing into something that you have no clue about. The main thing I look into other people's deals is their terms and the money down because some deals look great when the terms of three years and seventy-five hundred miles of the year.
The ideal terms outlook for usually three years and a minimum of twelve thousand miles per year, and I typically look for zero money down and drive off fees. I like to have everything loaded into the lease because you can put as much money down as you want to in a lease to get a monthly payment that you're happy with, but it's gonna be difficult to compare other deals. Another reason why I don't like to put money down is that in case if you get in a car accident or the car stolen or totaled the money that you put into it, it's completely lost yes, you're gonna be saving a little bit of money on A down payment if you put money down but the risk, outweighs the benefits. For me. The last thing you want to look at when comparing other people's deals is the package of the car.
What I mean here is each car has different models within a particular model. For instance, say the Honda Civic, it has the LX model, the e.x model, the exei model and so forth. From what I found, I usually found the base model of cars separately to have the best deals. So it's really up to you to figure out what matters to you. Is it the price or the features of the car for me is usually the price after researching what deals or other people are getting. I then look at the rebates for the cars.
There will be manufacturer rebates that can be applied to all dealerships and there will be dealerships that have their rebates on their cars as well, so to look for rebates, I usually go to the manufacturer's website. So they typically list a section where they have deals and rebates, and they show you what's available for each model majority of the time when you're looking at other people's deals. This typically lists out what rebates or discounts that they apply to the price. There also be rebates for people who are members of different things like Costco Triple-A or the military.
So, depending on where you work or what memberships you part of, you may have a personnel rebase just for you. The last part is to research, the numbers. What I mean about knowing your numbers specifically, is the MSRP and the residual value of the car. These numbers usually play the biggest role when factoring a lease. These two numbers are important because when banks are looking to give out leases, these are what they're looking at the residual value of a car is typically what a percentage of a car will be worth after the terms of the lease so say you look at a Car and it has a residual value of 60 % after three years.
This means that if you have a car that costs $ 30,000 after three years will be worth $ 18,000, you want to negotiate a car price as close as possible to the residual value, because the difference between the price that you pay for and the residual value Will be your monthly payments over the term of your lease, so the best car leases will have a high residual value and lots of discounts. This is the key to getting the best deal.
So, just on research alone, I typically spend about a month researching before I negotiate the deals with each dieudonné. Some people can spend much longer or some people would just spend a few weeks or a few days when researching a deal. So after I've done the research, I start emailing a bunch of local dealerships to get a quote. I strictly do all my negotiations online and through tax.
The reason why I do this is that it's the most efficient way to get the best deal. After all, when you step foot into a car dealership, you're in a room full of sharks, you're playing into their home court car salesman, they do this day in and day out, unless you are a very skilled negotiator or a car salesman yourself, they usually have the upper hand.
They have little tips and tricks to keep you long to wait, you out and give you a time restraint to purchase the car as much as I know about negotiating car deals. Some of these tricks can even make me Kevin. So, knowing that much about myself, I usually like to play in my home court, which is the office or my couch, another reason not to go to a car dealership to negotiate is that it's a big waste of time. Time is freaking valuable and spending hours upon hours at each dealership to get the best price is a big waste of time.
For me, the last car lease I did, I did it purely online and email and through an app, even though they had my phone number and they would keep calling me to get me on the phone. I would ignore the calls and strictly just contact via email. Another reason what communicating via email is so beneficial to you is that you have the time to think about your next action. Whether or not you want to ask for a lower price or more add-ons. This doesn't give you the time restraint as it would. If you were at a car dealership, so when I my first email, I simply get straight to the point. I'm gonna mark it for a blank car, I'm looking for, at least with these terms, say 12,000 miles for 36 months, and this is the model of the car I'm looking for.
I also say I'm willing to send a paper today if I could find the seller or the best price. Of course, only do this when you're willing to buy. I don't start negotiating the prices recent advance four days in advance. I only do it right when I'm ready to sign the paperwork, there's no point in wasting your time or other people's time if you're not ready to sign the lease. So, the more specific you can be in the email about the terms of the lease that you're looking for, you will typically get the best response without emailing them back and forth for information similar over the time.
You may get an email telling you you have to come in, so they could check your credit to see what you qualify for. Of course, your credit does play a role when you get a lease, but they can always give you a bar park number of close enough of what you can qualify for. Also, when you email them to make sure you include a model number of the car from the dealer's website. Like I said previously, the more specific you can't be in the email, the easier it is for them to give you a quote.
Instead of telling you to come into the dealership, so you can test drive because we have multiple models to go on and go on to try to sell you. So don't listen to all that BS so just be specific and it will be better off for you to save more time. So quick summary in the email telling me terms the model number of the car, whether or not you have any specific rebates that apply to you, such as, if you're in the military or recent college graduate and always get that out the door price.
This includes tax and drive-off fees because the last thing you want to do is go to a dealership and have a surprise of all these fees and costs that you didn't know about. So now I won't be going over some negotiation tips that you can use while trying to get the best deals on a lease. First, the foremost be respectable. These are people too, and you need to make it live. You want to get the best price and they want to sell at the best price. The worst thing you can do is to be complete, jerk or a douche, save some face and kill them with kindness. People are more willing to work with you when you're, calm and respectable. It'S really up to you.
If you want it to throw in the price for your first email, for example, if you found a great deal just email them the numbers to the dealership and see if they can copy that, so, in this case, the dealership can either copy it or offer you a completely different number: another option is to throw in a number much lower than the asking price to see. How much are they willing to budge then from there you could throw in a copy of another person's deal when buying a car. You don't want to be focusing on the car payment, but when you're leasing a car, that's what you want to be focusing on.
I have seen people get great deals on cars and car leases, but get completely screw over when it comes down to add-ons. You do not need to protect the packages or anything else that they're trying to upsell you towards the end of the negotiation. The only thing that I'll consider buying is the wear and tear insurance. There have been many horror stories that when it comes time to turn in a lease, people have been a thing for ridiculous, wear and tear fees at the end, even the wear and tear protection is usually negotiable. It'S really up to you, you won't consider or not. If negotiation and working with other people is not your forte, the next best bet is to work with a broker, so these are people or apps. I own a business that specializes in negotiating car deals or already have a pre-negotiated car deal.
So you can usually find car brokers from word-of-mouth on forums on forms like lease hacker, just a whole section of brokers and car salesmen to advertise their deals and a lot of times the brokers and salesman are typically posted. The best deals that they possibly can get. Another thing to do is to also contact people who have gone deals from them as well. That'S another way of researching prices and your negotiation power on these forums.
You can also contact the people, have gone deals from these salesmen or brokers as well, apps that I've used in the past there's an app called roto, which used to be called honker before you can sign up for the app and you won't get bothered by calls By salesman and dealerships so using this app is another good starting point in finding price research. I was able to log in to the price of my lease due to this PAP after contacting multiple dealerships for my Acura lease, I was roughly quoted around 340 to 3/5.
A month, but through the app, I was able to get three hundred and four dollars a month, and the funny part is that when I showed up to the dealership to sign up paperwork, it was one of the dealerships to offer me a price around $ 350. A month this comes to show you that dealerships can be very patient when it comes down to negotiating. I was thinking to myself. Why didn't you just take my offer when I wanted to get the lease for three or four, but instead they would accept a pre-negotiated deal through an app then I'm pretty sure took a percentage of the deal which cost them more money.
So on this deal, the car dealership had more leverage than it thought they had. The last thing you want to do before you sign anything is to read over the paperwork, read over the fine print and make sure all the numbers line up to know how much they're gonna charge you if you go over to mileage, know what is the wear And tear terms of the vehicle and know exactly what's going into your monthly payment. If anything is wrong or incorrect, it's best to get a fix there before you sign anything all right guys.
Conclusion
So today I went over my two-step process for negotiating at Carly's. I went over to research that I take before going through this process and I went over what to do we're negotiating for the price if you like, more videos like this, make sure you let me know in the description below I make new videos every week subscribe To be notified when a new video drops I'll see you guys next time, you
I talked about how I was able to get a one percent lease on my Acura RDX I'll link it in the description below. So in that video, I show how I was able to get a thirty-seven thousand dollar car for a monthly payment of around three hundred and four dollars a month with no money down. But what this video is gonna be focusing on is that negotiation part and how to get the best lease deals 2020 ? Let'S get into it. Two things go into negotiating a car lease, the research, and the actual negotiation. So let's go over the first part.
This is probably gonna, be the most important thing to take away from this video, and this is the research you want to spend around 80 % of your time researching. The deals don't expect to go up to a car dealership and expect to lease a car for whatever you think sounds right. Negotiation is a verbal dance that you playback and forth where both parties meet at a mutual agreement, not all cars, salesmen or scums or sharks. There are a handful of car salesmen that brutally honest and they'll.
Tell you the best price that they can give you. You want to save as much money as you want to and they want to make as much money as they can. So if you look at it this way as a customer, if you have not done the research and know what's a fair price, you have no leverage in a negotiation as a car salesman. They know their numbers, they know how much they bought the car for and they know how much they have to sell it to make it a profitable business. But you might be asking yourself, but what do our research? This is the exact order that I take or research at Carly's.
I focus on what others are getting to know what others are getting. You need to jump into car forms like Edmunds or lease hacker before I even start looking into what car should get. I like to look at what other cars or people are, releasing the reason why I look at what other deals people are getting. Is that give me a baseline to work off of say? I decided I wanted to lease a Lexus rx350 if nobodies are leasing those cars and talking about it then most likely these cars are not leasing too well or to show off the deals.
So you want to find a great deal. Usually one sees what somebody has already gotten. It'S gonna be that much easier to copy that deal at other dealerships when you're looking at other people's deals, you have to look at where they got the deal because living in Southern California. I can lease a car for a completely different price compared to someone who lives in Washington. Lease deals can be completely regional. After that, I like to look at the terms of the lease just because somebody posts their deals, you have to double-check to work. It'S like blindly investing into something that you have no clue about. The main thing I look into other people's deals is their terms and the money down because some deals look great when the terms of three years and seventy-five hundred miles of the year.
The ideal terms outlook for usually three years and a minimum of twelve thousand miles per year, and I typically look for zero money down and drive off fees. I like to have everything loaded into the lease because you can put as much money down as you want to in a lease to get a monthly payment that you're happy with, but it's gonna be difficult to compare other deals. Another reason why I don't like to put money down is that in case if you get in a car accident or the car stolen or totaled the money that you put into it, it's completely lost yes, you're gonna be saving a little bit of money on A down payment if you put money down but the risk, outweighs the benefits. For me. The last thing you want to look at when comparing other people's deals is the package of the car.
What I mean here is each car has different models within a particular model. For instance, say the Honda Civic, it has the LX model, the e.x model, the exei model and so forth. From what I found, I usually found the base model of cars separately to have the best deals. So it's really up to you to figure out what matters to you. Is it the price or the features of the car for me is usually the price after researching what deals or other people are getting. I then look at the rebates for the cars.
There will be manufacturer rebates that can be applied to all dealerships and there will be dealerships that have their rebates on their cars as well, so to look for rebates, I usually go to the manufacturer's website. So they typically list a section where they have deals and rebates, and they show you what's available for each model majority of the time when you're looking at other people's deals. This typically lists out what rebates or discounts that they apply to the price. There also be rebates for people who are members of different things like Costco Triple-A or the military.
So, depending on where you work or what memberships you part of, you may have a personnel rebase just for you. The last part is to research, the numbers. What I mean about knowing your numbers specifically, is the MSRP and the residual value of the car. These numbers usually play the biggest role when factoring a lease. These two numbers are important because when banks are looking to give out leases, these are what they're looking at the residual value of a car is typically what a percentage of a car will be worth after the terms of the lease so say you look at a Car and it has a residual value of 60 % after three years.
This means that if you have a car that costs $ 30,000 after three years will be worth $ 18,000, you want to negotiate a car price as close as possible to the residual value, because the difference between the price that you pay for and the residual value Will be your monthly payments over the term of your lease, so the best car leases will have a high residual value and lots of discounts. This is the key to getting the best deal.
So, just on research alone, I typically spend about a month researching before I negotiate the deals with each dieudonné. Some people can spend much longer or some people would just spend a few weeks or a few days when researching a deal. So after I've done the research, I start emailing a bunch of local dealerships to get a quote. I strictly do all my negotiations online and through tax.
The reason why I do this is that it's the most efficient way to get the best deal. After all, when you step foot into a car dealership, you're in a room full of sharks, you're playing into their home court car salesman, they do this day in and day out, unless you are a very skilled negotiator or a car salesman yourself, they usually have the upper hand.
They have little tips and tricks to keep you long to wait, you out and give you a time restraint to purchase the car as much as I know about negotiating car deals. Some of these tricks can even make me Kevin. So, knowing that much about myself, I usually like to play in my home court, which is the office or my couch, another reason not to go to a car dealership to negotiate is that it's a big waste of time. Time is freaking valuable and spending hours upon hours at each dealership to get the best price is a big waste of time.
For me, the last car lease I did, I did it purely online and email and through an app, even though they had my phone number and they would keep calling me to get me on the phone. I would ignore the calls and strictly just contact via email. Another reason what communicating via email is so beneficial to you is that you have the time to think about your next action. Whether or not you want to ask for a lower price or more add-ons. This doesn't give you the time restraint as it would. If you were at a car dealership, so when I my first email, I simply get straight to the point. I'm gonna mark it for a blank car, I'm looking for, at least with these terms, say 12,000 miles for 36 months, and this is the model of the car I'm looking for.
I also say I'm willing to send a paper today if I could find the seller or the best price. Of course, only do this when you're willing to buy. I don't start negotiating the prices recent advance four days in advance. I only do it right when I'm ready to sign the paperwork, there's no point in wasting your time or other people's time if you're not ready to sign the lease. So, the more specific you can be in the email about the terms of the lease that you're looking for, you will typically get the best response without emailing them back and forth for information similar over the time.
You may get an email telling you you have to come in, so they could check your credit to see what you qualify for. Of course, your credit does play a role when you get a lease, but they can always give you a bar park number of close enough of what you can qualify for. Also, when you email them to make sure you include a model number of the car from the dealer's website. Like I said previously, the more specific you can't be in the email, the easier it is for them to give you a quote.
Instead of telling you to come into the dealership, so you can test drive because we have multiple models to go on and go on to try to sell you. So don't listen to all that BS so just be specific and it will be better off for you to save more time. So quick summary in the email telling me terms the model number of the car, whether or not you have any specific rebates that apply to you, such as, if you're in the military or recent college graduate and always get that out the door price.
This includes tax and drive-off fees because the last thing you want to do is go to a dealership and have a surprise of all these fees and costs that you didn't know about. So now I won't be going over some negotiation tips that you can use while trying to get the best deals on a lease. First, the foremost be respectable. These are people too, and you need to make it live. You want to get the best price and they want to sell at the best price. The worst thing you can do is to be complete, jerk or a douche, save some face and kill them with kindness. People are more willing to work with you when you're, calm and respectable. It'S really up to you.
If you want it to throw in the price for your first email, for example, if you found a great deal just email them the numbers to the dealership and see if they can copy that, so, in this case, the dealership can either copy it or offer you a completely different number: another option is to throw in a number much lower than the asking price to see. How much are they willing to budge then from there you could throw in a copy of another person's deal when buying a car. You don't want to be focusing on the car payment, but when you're leasing a car, that's what you want to be focusing on.
I have seen people get great deals on cars and car leases, but get completely screw over when it comes down to add-ons. You do not need to protect the packages or anything else that they're trying to upsell you towards the end of the negotiation. The only thing that I'll consider buying is the wear and tear insurance. There have been many horror stories that when it comes time to turn in a lease, people have been a thing for ridiculous, wear and tear fees at the end, even the wear and tear protection is usually negotiable. It'S really up to you, you won't consider or not. If negotiation and working with other people is not your forte, the next best bet is to work with a broker, so these are people or apps. I own a business that specializes in negotiating car deals or already have a pre-negotiated car deal.
So you can usually find car brokers from word-of-mouth on forums on forms like lease hacker, just a whole section of brokers and car salesmen to advertise their deals and a lot of times the brokers and salesman are typically posted. The best deals that they possibly can get. Another thing to do is to also contact people who have gone deals from them as well. That'S another way of researching prices and your negotiation power on these forums.
You can also contact the people, have gone deals from these salesmen or brokers as well, apps that I've used in the past there's an app called roto, which used to be called honker before you can sign up for the app and you won't get bothered by calls By salesman and dealerships so using this app is another good starting point in finding price research. I was able to log in to the price of my lease due to this PAP after contacting multiple dealerships for my Acura lease, I was roughly quoted around 340 to 3/5.
A month, but through the app, I was able to get three hundred and four dollars a month, and the funny part is that when I showed up to the dealership to sign up paperwork, it was one of the dealerships to offer me a price around $ 350. A month this comes to show you that dealerships can be very patient when it comes down to negotiating. I was thinking to myself. Why didn't you just take my offer when I wanted to get the lease for three or four, but instead they would accept a pre-negotiated deal through an app then I'm pretty sure took a percentage of the deal which cost them more money.
So on this deal, the car dealership had more leverage than it thought they had. The last thing you want to do before you sign anything is to read over the paperwork, read over the fine print and make sure all the numbers line up to know how much they're gonna charge you if you go over to mileage, know what is the wear And tear terms of the vehicle and know exactly what's going into your monthly payment. If anything is wrong or incorrect, it's best to get a fix there before you sign anything all right guys.
Conclusion
So today I went over my two-step process for negotiating at Carly's. I went over to research that I take before going through this process and I went over what to do we're negotiating for the price if you like, more videos like this, make sure you let me know in the description below I make new videos every week subscribe To be notified when a new video drops I'll see you guys next time, you
Gast Ritis - 29. Mar, 20:42
