Spagolli94

I was thinking of having a few dealers put together some lease numbers for me. To make sure I'm comparing apples to apples, I wanted them to provide me with more than just the monthly payment. Here is what I was planning on asking for:

•*CAP cost (would like dealer to meet or beat TrueCar price)
•*Residual value (buyout cost at end of lease)
• Money rate
•*Monthly payment
•*Tax
•*Total monthly payment with tax
• Upfront cost (downpayment, lease acquisition fees, etc)

Am I missing anything? Are there any other key pieces of info I should know so that I can accurately compare lease deals?

drbazing

Cap cost: Don't tell them you want to lease yet. I would ask for the invoice make your deal around that.
Residual: Can't really change it since it's marked in paper. All depends on length of lease and annual mileage plan.
Money Rate: This is also in paper but depends on your Credit score. Can be lowered with MSDs.
Monthly payment: This can be seen after calculation.
Tax: No way out of it, unless you live in Oregon or similar.
Total: Self explanatory.
Upfront cost: Go for $0. If you must, just pay for drive-off fees.

PS There's a whole thread about this and I'm sure there's more information that I could provide.

Spagolli94

Thanks for the info. Previously, I've negotiated on cars like I was going to buy them. Then once I have the price I want I say, hey, can you show me some lease numbers? This seems to help lower the cap cost.

drbazing

You're on the right track. You can also tell them other dealer offers to make it more competitive.

toyotatom

Keep an eye on the money rate, if I remember right that is one number dealers can play with. With good credit, MF should be no more than .00085 and you can probably do better by playing hardball.

silvaIS

iTrader: (2)

you should really be in touch with a leasing company. I do not know if you have many in PA, but in NY there are tons.

They are good with making a smaller profit on a car because they work on volume overall.

contact this guy (Gene 646-220-9806) Exotic Motors

also find the exact package you want and compare exact offer. ie. Everything included in your monthly payments accept new or transferred plates and your 1st payment. Who cares about all other criteria. at the end of the day you want your payment low and you want the car with the package you want, that's all. All that other stuff is not necessary, let the dealers work it out.

For those people that will say oh you wont get the service if you buy from leasing company....The dealer will never know. after you pick it up from leasing company you can call the dealership where your car originated from and they will thank you for purchasing the vehicle from them that day.

My deal-$505 Transfer of plates and 1st payment. IS350awd f-sport nebula grey with black with Nav.

I got it in april I paid $10 a month more than what other people offered me but could not find me the car in time.

lexi90

You def. want to start by emailing the internet sales manager at local dealers. Do make sure though that this person is a real manager and not a salesman. If that doesn't work, then go and see the general sales manager and deal with him directly. I've found either option to work out for me.

lexi90

Nice! How much did you put down? Any drive-off fees?? Re service, have you been going to a Lexus dealer free of charge as you claim one can???

lexi90

Agree. With good credit you don't want to take anything over .00085. I was offered .00125 claiming that it was the special deal from the Golden Oppurtunity Event. Having a credit score of 725, I laughed at the salesman and said that wasn't going to work for me. That said, be sure to walk away if the deal ain't working for you

Lost808

Also, download a leasing app to your phone that you can plug all of the numbers into (once you have it all), to see if the monthly is the same as what they are trying to tell you. More often than not, the numbers do not add up, and there is something hidden that you cannot see, that bumps the monthly up. I like the app iLeaseCarPro if you have an iPhone.

drbazing

This could help you but don't show the sales guy that you are using this. He will talk down upon it. It's better to show that you actually know how to crank up the numbers yourself instead of using an app to do it.

Lost808

Correct. I didn't actually say to use it during the negotiations, but use it after you have recieved all of the numbers and use it behind the scenes when you are "thinking" about the deal.

Daspyda

iTrader: (1)

You may also ask if what the Lease Termination fee is if you decide to turn in the car. Mileage limits, and overage cost, too.

Also, you can convert that money factor into an interest rate by multiplying it by 2400.

http://www.leaseguide.com/lease08/

Spagolli94

Wow, thanks for all the info guys. I plan on doing most of my negotiating over email. Dealers know that they aren't the only one in the mix. Waiting for a few to get back to me. I might find it more expensive here in Philly however, as I think city taxes will apply as well. Also, this will be a company car so I'm not sure if that affects anything either. I've purchased company cars before, but never leased one.

Spagolli94

So I got my first numbers back today. It's for a 2015 IS350 F-Sport with Nav. Seems a lot higher than the deals others post on here:

27 Month Lease, 12k miles
Cap Cost: $47,419 (this is higher than the TrueCar price of $46,292)
Residual: 72%
Money Rate: .00130 (I have an almost perfect credit score, so this seems high)
Monthly Payment: $554
Monthly Tax 11%: $60.94 (6% state, 2% county, 2% city, not sure where the other 1% comes from)
Upfront Fees: ~$1300 (first payment plus $700 bank fee)

The fees for the 36 month lease were about 15 lower per month.