I need some help from some of you experiencecd car buyers out there. Sometime within the next month I'm planning on leasing a IS 250 RWD. Right now I'm in the beginning stage of finding all the dealers in my area and submitting a purchase inquiry. Considering the fact that this will be my 1st new car purchase I'm seeking some advice on how to approach these sales people and the best strategies that will help me to get the best deal possible. Also it should be taken into account that I will be doing most if not all of my negotiating via email and telephone at least for now.
I'm really trying to figure out what are the steps I should take. Obviously I know dont take their 1st offer and I' ve gotta play dealers against eachother but I'm wondering if there's anything other tips that can help.
Like do I tell them the limit of how much I want to put down or how much I want to spend monthly or anything like that???

Help please.

 

My buddy who use to sell cars always recommended going in at the end of the month. Typically dealers will do skinny deals in order to make a quota which results in rewards for the manufacture.

He also recommended that you basically layout what you want. SO, if you are trading in a car and they come back and over you $5000, but there is no way to do it for less than $7k. and you are serious, tell them... I need $7k, anything less and there is no deal, give me $7k and I'll buy is usually enough to make them go for it.

However, this may not work for a car that is in high demand such as the IS.

 

So far I've gotten a quote from one dealer which doesn't seem to bad but I'm sure it could be better. Do I know tell him that I'm going to search around to some other dealers then get back to him or do I 1st tell him to sweeten the deal?

 

Remember that the salesman has 2 objectives - sell a car and get the maximum money for the deal he can. The negotiation is to find the spot that meets both objectives. You did not say if you have a trade-in. If you do, do not include the price of the trade-in until you settle on a price for the new car.

My experience says that the end of the month is a good time to buy since everyone's goals are set monthly. The salesman has a monthly quota and so does the dealership.

I never give them any idea of how much I might pay until I know where they are coming from on price since their bottom line may be less than I would be willing to pay. Set the sales price of the car before working on the lease. With the price on the car, you could get your lease thru a bank or credit union. Lexus wants you to lease thru them, so may work a little with money factor to get the lease business as well as the sale.

Don't buy any of the stuff the finance manager will try to sell you after you agree on a price. They will try to sell paint sealer, LoJack, tire warranty, window etching, etc. This stuff is almost pure profit for the dealer. If you want any of it, aftermarket prices are much better.

Good luck and have fun. Don't let them intimidate you. If you feel pressured, leave and go to another dealer. Most Lexus dealers are good about sales practices, but not all of them.

Steve