Home » New Cars » How I leased a $52 thousand dollar car for just $339 per month

How I leased a $52 thousand dollar car for just $339 per month

Posted by on November 24, 2013 in New Cars, News - No comments

If you are looking to lease or buy a new car, there are ways to get a seriously good price on the car of your choice. This method will work for anyone who is willing to negotiate a little bit and to spend some time getting the right deal. There are a few key points listed in bold, these are critical steps to ensure you get the absolute best price available. Here is the step by step on how to lease/buy a car and get the absolute best price possible. If done correctly, you can save thousands of dollars on your car purchase and get a deal worth bragging about. Trust me, I’ve done it 10-15 times already; this method works.

Want the bottom line? skip to the negotiation stage:

Step 1: Decide on the car

2014-bmw-328i-sedan-sportThe first step is to go to your car website of choice, and decide which make and model you are looking for. If you are unsure, here are some articles to help you with your decision: It is important to know which make and model you are looking for and which options you will want, to ensure you maintain leverage throughout your car negotiating process. For the purposes of this guide, I’m going to go with an example: the BMW 328i.

Step 2: Know Exactly what you want

We know we want a BMW 328i, but we don’t know the options, the trim level, the color and other features of the car. Dealers will ask questions such as:

• MSRP of the vehicle you want

• Color of the car

• Options

• Amount you are willing to pay per month / down payment

In order to answer this properly, let’s head over to bmwusa.com and customize the 328i:

1) For this example, we want the 328i

2) The first question it asks if we want the Regular (default) or Luxury, M Sport, Sport line. This is really important to note down, as this is something they will ask you and will use as leverage if you do not have this readily available. Let’s go with the M Sport package.

3) Choose a color for the exterior. If you are not picky, choose white/grey/black as most dealers will have multiple cars in this color enabling you to get a better deal based on their volume sellers. Again, really important for your negotiating process to take note of- Black it is.

4) Interior coloring is something to jot again; note that colors such as red interior and uncommon choices are not generally available at dealerships, so if you want the absolute best price, go with something standard like black/tan.

5) Packaging, something that will make or break your deal. Here are the most commonly available packages in cars, and what you should consider when looking for the best price.

a. Cold Weather Package

b. Lighting Package

c. Technology Package

d. Driver assistance Package

e. Premium Package

From a pricing point of view, think of every $1000 dollars added as around $20-30 more per month on your lease. This can vary slightly, but that is the safe number in BMW terms, it varies on each make/model.

After customizing the car to your specs, it’s important to write down the exact amount of money the car you customized will cost. The website will return this result as an MSRP; this is your way to ensure you are getting the best deal and the easiest way to pit a few different car dealers against each other. So, for our example, the MSRP is $48,700.

Step 3. Let the preparations begin

There are a few points you need to be aware of here that car dealerships are going to ask you for, or mention and if you don’t have this information handy, they can manipulate the deal and try to squeeze a few extra bucks out of you where you otherwise should have not paid. Here they are, and make sure you’ve got the answers jotted down before you make calls:

a) Number of Miles you will drive each year

Common options: 10,000 / 12,000 / 15,000 / 18,000

The number of miles you drive each year will drive the cost of the car upwards, and depending on the brand of car you are leasing, each mile will cost you between $0.15 and $0.30, which is dependent on the individual models depreciation based on mileage on the odometer. In BMW’s case, this is usually around $0.25. You should also note that the average person travels in a car around 12,000 miles per year, so going with 10,000 may hurt you in the long run, unless you are sure you will not go over the miles.

For our example, 10,000 Miles per year it is.

b) Number of dollars you are willing to write a check for / swipe your card for at the dealer for the up front fees.

Now, ladies and gentlemen is where dealers play their magic. You will need to use this wording to ensure you are not going to be taken for a ride. “I would like to know the exact number I am going to write on my check or swipe my credit card before driving off with my new [insert car here]”. If you say it any other way, they are going to say something to the tune of:

“sure, down payment of just $500″

translated: you will pay drive off fees, registration and other fees, taking this number closer to around $1500.

 

“yea, up front fees are gonna be around $850″

This is likely ignoring the down payment and drive off fees, bringing you closer to around $3,000.

 

or even the classic “$0 down!”.

This is a big trap. If they say this, repeat your carefully crafted catch phrase: “How much am I writing a check for?” There’s no way out of that one.

c) Total Monthly Payment INCLUDING TAX!

Dealers love this one. They are going to tell you, “just $399/mo and $0 down!”.

translated: around $435/mo and around $2200 out of pocket.

Make sure you find out the exact number that will appear on your check each month for the car payments. This is really important as this is one of the most flexible things dealers can toy with to squeeze you.

d) The exact MSRP, and options you want, as stated earlier.

Give em your number of the MSRP. It’s imperative. And also mention options that you need. Here are the key options most cars will be offering that should be mentioned.

– Color of the interior / exterior

– Has GPS?

– Has Leather Seating?

– Has backup camera?

– Has Full airbags?

– Has premium Audio?

– Has lane departure warning?

– Has premium entertainment system?

– power / telescoping steering

– powered adjustable seating

– seat memory settings

– reclining rear seats

– xenon headlamps

– rain sensing wipers

– sunroof

– convertible

Asking / omitting the above options are some of the more common features that will enforce the same car across each dealership.

Step 4. Time to negotiate!

This part is a little hard to do and can be uncomfortable, but trust me, it will work. Here’s the negotiating step by step:

a) Search for the 5 nearest dealers to you for the make and model you are looking for.

In our case: BMW of Irvine

b) Call the dealership, and ask for a sales manager.

Tell him exactly what you want.

my options

Our example:

Model: 2104 BMW 328i M-Sport Package

Coloring: Black ext./red int.

Mileage: 10,000/year

Monthly payment: $370/mo (the amount you are shooting for)

Dollar amount I will put on the credit card as down payment: $2,000

MSRP: $51,000

Options: Read what is in the screen shot, don’t omit anything.

After giving him all the information, listen to everything he has to say. He’s going to either blow you off, or say he can do it. If he can do it, have him email you the quote and/or text it to you with the exact terms you asked for.

Now, either take this quote into his competitor which will guarantee you the same deal or a little better, or go into the dealer and get it.

If the manager does not give you what you want, have him text you or email you the best he can do, and bring it to the competition. I guarantee you will get a great deal doing it this way!

Your done! Happy driving!!!

Yosef Adelman on Google+

About the author

homeAuthor's Website|archiveAuthor Archive

Post Comment

© 2017 Car News, New Cars, Car Reviews. All rights reserved.