First Car Lease Negotiation..Advice needed
Thread Starter
Driver School Candidate
Joined: Aug 2016
Posts: 2
Likes: 0
From: NJ
First Car Lease Negotiation..Advice needed
Hello Everyone,
This is my first post, and I'm hoping you all can help me with my first lease negotiation. I'm looking to get a CPO 2014 Lexus IS250 with low miles and realistically I would be comfortable with a payment under $300 and minimal down. Based on my conversation with the first dealership I spoke to, we discussed a 2014 IS 250 with 14k miles that was listed at 29k but the sales guy wouldn't really provide solid numbers for lease payment other than tell me that a payment in the $200s would be unattainable without putting up a ridiculous amount for cap cost reduction.(4-5k) Can anyone here help me understand how leases work? I feel like the payment I'm looking for can certainly work (Albeit with discounts on the listed price) but it seems like the sales people I spoke with are unwilling to even provide solid numbers with regard to residual, MMF, etc. Am I negotiating incorrectly?
This is my first post, and I'm hoping you all can help me with my first lease negotiation. I'm looking to get a CPO 2014 Lexus IS250 with low miles and realistically I would be comfortable with a payment under $300 and minimal down. Based on my conversation with the first dealership I spoke to, we discussed a 2014 IS 250 with 14k miles that was listed at 29k but the sales guy wouldn't really provide solid numbers for lease payment other than tell me that a payment in the $200s would be unattainable without putting up a ridiculous amount for cap cost reduction.(4-5k) Can anyone here help me understand how leases work? I feel like the payment I'm looking for can certainly work (Albeit with discounts on the listed price) but it seems like the sales people I spoke with are unwilling to even provide solid numbers with regard to residual, MMF, etc. Am I negotiating incorrectly?
Rookie
Joined: Mar 2016
Posts: 57
Likes: 0
From: California
In my experience, dealers won't typically lease used cars. There may be rare instances where a lease was turned in VERY early (less than a year) or a car was a former service loaner. Otherwise, there isn't much incentive because the depreciation curve tends to level out a bit after the first couple of years. Also, when the car is returned, it will be a 6yr old car that they can no longer sell as CPO.
Hello Everyone,
This is my first post, and I'm hoping you all can help me with my first lease negotiation. I'm looking to get a CPO 2014 Lexus IS250 with low miles and realistically I would be comfortable with a payment under $300 and minimal down. Based on my conversation with the first dealership I spoke to, we discussed a 2014 IS 250 with 14k miles that was listed at 29k but the sales guy wouldn't really provide solid numbers for lease payment other than tell me that a payment in the $200s would be unattainable without putting up a ridiculous amount for cap cost reduction.(4-5k) Can anyone here help me understand how leases work? I feel like the payment I'm looking for can certainly work (Albeit with discounts on the listed price) but it seems like the sales people I spoke with are unwilling to even provide solid numbers with regard to residual, MMF, etc. Am I negotiating incorrectly?
This is my first post, and I'm hoping you all can help me with my first lease negotiation. I'm looking to get a CPO 2014 Lexus IS250 with low miles and realistically I would be comfortable with a payment under $300 and minimal down. Based on my conversation with the first dealership I spoke to, we discussed a 2014 IS 250 with 14k miles that was listed at 29k but the sales guy wouldn't really provide solid numbers for lease payment other than tell me that a payment in the $200s would be unattainable without putting up a ridiculous amount for cap cost reduction.(4-5k) Can anyone here help me understand how leases work? I feel like the payment I'm looking for can certainly work (Albeit with discounts on the listed price) but it seems like the sales people I spoke with are unwilling to even provide solid numbers with regard to residual, MMF, etc. Am I negotiating incorrectly?
Thread Starter
Driver School Candidate
Joined: Aug 2016
Posts: 2
Likes: 0
From: NJ
In my experience, dealers won't typically lease used cars. There may be rare instances where a lease was turned in VERY early (less than a year) or a car was a former service loaner. Otherwise, there isn't much incentive because the depreciation curve tends to level out a bit after the first couple of years. Also, when the car is returned, it will be a 6yr old car that they can no longer sell as CPO.
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