Car Lease v. Buying

[EJB]

Ahhh, now you're talking like a DDFer. Ok, so how does one find these deals? The typical lease deals advertised on DDMS are not like this, correct?

Check Edmonds forums to find out residuals, offers, and how much in discounts dealers are offering.

[Iz]

Check Edmonds forums to find out residuals, offers, and how much in discounts dealers are offering.

[EJB]

Btw, one way to lower the finance charge on leases at often is worth it is through MSDs (multiple security deposit). Every financing company has different rules into what they allow, but you can save a bit (~$50/month) on financing by putting ~2k down that you will get back upon conclusion of the lease.

[Iz]

Btw, one way to lower the finance charge on leases at often is worth it is through MSDs (multiple security deposit). Every financing company has different rules into what they allow, but you can save a bit (~$50/month) on financing by putting ~2k down that you will get back upon conclusion of the lease.

Good to know, but I'm leaning toward buying.

[mgarfin]

Yup, I just emailed every dealership in the state and found the cheapest and got them to deliver it.  Stress that you want to know the exact bottom line with all fees/taxes or else it will all be a waste of time.

You can also use Amex Zag: http://amexnetwork.zag.com/main.html
Use a fake name/email (Once you go through Zag they won't go lower than that price, hence the fake stuff) and you'll have a base line to start negotiating from once you request the bottom line zag price.  If you can't do as well as Zag then just use Zag, where you can also charge part of the car on an AMEX.

My brother used Zag and found a dealer in Baltimore where he got an 2010 Elantra for literally thousands of dollars less than the local price.  I think it was $13K out the door with tax and he got to charge part to an AMEX.  He flew to BWI, the dealer picked him up from the airport, the manager then complained about how low the price was, but my brother had a clear out-the-door quote in writing so they had to honor it.

Dan, can you explain this a bit better. What are you getting from Zag and what are you doing next?

[Yammer]

Btw, one way to lower the finance charge on leases at often is worth it is through MSDs (multiple security deposit). Every financing company has different rules into what they allow, but you can save a bit (~$50/month) on financing by putting ~2k down that you will get back upon conclusion of the lease.

I've spoken to multiple dealers/agents this month. Is there a reason why there not telling me about this?

[Yammer]

Dan, can you explain this a bit better. What are you getting from Zag and what are you doing next?

+1

Also  would you mind posting all the email addresses so that I can send them as well?

[EJB]

I've spoken to multiple dealers/agents this month. Is there a reason why there not telling me about this?

It's usually something you have to ask for. I r never had a dealer bring it up to me but also was never turned down. Check edmunds forums for details w the bank you are working with.

Note that when you're dealing with a third party bank (e.g ally), as is the case with some of the lease deals, you likely won't be able to take advantage of this. It is linked to the bank.

[Yammer]

It's usually something you have to ask for. I r never had a dealer bring it up to me but also was never turned down. Check edmunds forums for details w the bank you are working with.

Note that when you're dealing with a third party bank (e.g ally), as is the case with some of the lease deals, you likely won't be able to take advantage of this. It is linked to the bank.

Got it.

Thanks

[EJB]

And @dan, they don't *have* to honor clear out the door quotes in writing. There's always the risk with flying for a deal that you'll get a surprise, but obviously don't risk it without a clear quote in writing. For a lease, make sure to include disposition fee

[mgarfin]

Yup, I just emailed every dealership in the state and found the cheapest and got them to deliver it.  Stress that you want to know the exact bottom line with all fees/taxes or else it will all be a waste of time.

Why only in-state dealers?

You can also use Amex Zag: http://amexnetwork.zag.com/main.html
Use a fake name/email (Once you go through Zag they won't go lower than that price, hence the fake stuff) and you'll have a base line to start negotiating from once you request the bottom line zag price.  If you can't do as well as Zag then just use Zag, where you can also charge part of the car on an AMEX.

Tried Zag and it only sent email to 3 dealers really close to me.

My brother used Zag and found a dealer in Baltimore where he got an 2010 Elantra for literally thousands of dollars less than the local price.  I think it was $13K out the door with tax and he got to charge part to an AMEX.  He flew to BWI, the dealer picked him up from the airport, the manager then complained about how low the price was, but my brother had a clear out-the-door quote in writing so they had to honor it.

My biggest hardship/scare of buying a car is, I"m unfamiliar with car trim versions, and don't want to get ripped off. Do I ask every dealer for a price on every version?

[cozmohoot]

Do your research and find the trim that you want. Get quotes on that trim.

[mgarfin]

Do your research and find the trim that you want. Get quotes on that trim.

It's a bit more confusing, say I want leather seats, but am I willing to pay 5k for it?

[ual902]

It's a bit more confusing, say I want leather seats, but am I willing to pay 5k for it?

Talking from experience, I shopped for a brand new car (Camry 2016), I first went to  the big dealers to test drive and try  the different cars, then went to all the leasing dealers and went bargaining with them, I knew exactly what I wanted after doing all the test drives and I did pay an extra $2K for leather seats and a sunroof etc and I feel it  so worth it.

[EJB]

I usually negotiate w $ off the base (e.g., 5k),  then look for a car I like and negotiate for some more for the additional options (e.g., 500).

[Z56]

Talking from experience, I shopped for a brand new car (Camry 2016), I first went to  the big dealers to test drive and try  the different cars, then went to all the leasing dealers and went bargaining with them, I knew exactly what I wanted after doing all the test drives and I did pay an extra $2K for leather seats and a sunroof etc and I feel it  so worth it.

How much was the car ?

[mgarfin]

Anyone have experience with using local leasing companies for buying? My guy claims he can get me a rockbottem price, and he will add a small markup, if it will save me hour's of work it may be worthwhile.

[ual902]

Anyone have experience with using local leasing companies for buying? My guy claims he can get me a rockbottem price, and he will add a small markup, if it will save me hour's of work it may be worthwhile.

Yes I have, leasing companies sell / finance cars.

[Ergel]

Anyone have experience with using local leasing companies for buying? My guy claims he can get me a rockbottem price, and he will add a small markup, if it will save me hour's of work it may be worthwhile.

But you'll never know. What I did was find the lowest price and then go to the Jewish dealership if he could match.
First car I bought he couldn't match.
Second car, I walk in and he says so how much you paying (he figured out the deal already). I told him my price and he agreed

[mgarfin]

But you'll never know. What I did was find the lowest price and then go to the Jewish dealership if he could match.
First car I bought he couldn't match.
Second car, I walk in and he says so how much you paying (he figured out the deal already). I told him my price and he agreed

Find out how, emails to 100 dealrrs?