Leasing a new car - I suck at this. Could use help.

[cmoney]

First off, I listened to Druff's segment about car buying that was really helpful. I am looking to get rid of one of my cars so that I can get my brother a Land Rover.

Here is the exact situation. The Range Rover dealership is trying to give me 38k trade in for my old car. My old car has like 10,000 miles on it. The exact car can be seen here:



So I see a dealer trying to sell my same car with same mileage for around 50,000. I have to use auto trader as a reference for the value since my car isn't a standard CTSV. It has the wheels and sports package so Kelly Blue Book wont give an accurate since it doesnt have all these options

Here is the car I want to get:

http://www.landroverusa.com/current-offers/index.html

2016 LR4 HSE

LEASE FOR
$679
PER MONTH FOR 39 MONTHS
$3,495 CASH DUE AT SIGNING
OFFER DETAILS

Base MSRP from $55,300*

This is where it gets tricky because the one I am looking at getting is the premium version which has a sticker of 67,000.

I am a terrible car negotiator. There seems to be two issues here.

1. I need to get my trade in value higher. I know i could get more selling to a private person but that sounds like a pain in the ass. I also understand that the dealer needs to make money on it. What is an acceptable trade in value? 38,000 is a rip off.

2. I want to get the leasing terms for the new car that are above. If the sticker is 67,000 what is a reasonable price to get it down to? I feel like a lot of the times these cars have "seasonal deals" but they never apply because all the fucking cars have premium packages and never are at the "starting at price." This allows the dealers to try to inflate the monthly leasing payments.

I also dont have the option to call around to different dealership as this is the only dealership in my brothers area.

You guys are the masters at this kind of stuff. What is my move? tyvm

[IAmProfessionalTalk]

Why not shop dealers out-of-area?

[cmoney]

Why not shop dealers out-of-area?

He is in a small town. Not another Range Rover place within 3 hours

[IAmProfessionalTalk]

It's pretty common to buy a car from thousands of miles away.

[Belly Buster]

My experience is in the UK so it maybe a bit different, but I expect not a lot.

New car dealers are all about selling new cars. Second-hand and trade-ins are a huge pain the arse for the dealer - a necessary evil.

When you buy a new car - it's all about "the deal". You might be able to negotiate a great discount, but get fucked on the trade-in. Or you get a great trade-in, but no discount. You never get a big discount and a great trade-in.

Next up, the sticker price you see for that other similar car is almost never the price it will sell for. So knock $4-5k off for haggle room, and another $3-4k for the dealers margin, and in reality you are looking at $43k like-for-like. It does no harm to print off that other advert and put it in front of your dealer to try and up your trade-in.

There might not be another LR dealer for miles, but you can still ring round other dealers and get a price which you can use as a benchmark. Some premium marques just won't discount, period. Mass market brands are much more likely to. But you can find this out by ringing around.

Always press for a deal on the last day of the month, ideally last day of the quarter. If your dealer is one or two sales from hitting quota, you are much more likely to get the best deal.

In the UK the market has evolved and you now have car brokers that give you a rock bottom, no haggle, take-it-or-leave it price. For the savvy buyer that knows exactly what they want, this is the best route, and I've used this for my last 2 purchases.

[sonatine]

I hate to say it, but 38k trade on a 51k KBB seems totally in line with expectation to me.

There may be X factors here that I dont get, eg age/condition of car or something, but 24% markdown seems well in line with what I'd expect from a dealer.

Caveat: I drive lolcars, not stylemobiles such as yours.

[GrenadaRoger]

Why not shop dealers out-of-area?

He is in a small town. Not another Range Rover place within 3 hours

you'd want to do business with them just for their name...

btw is one of the owners called "Buster"?

[IAmProfessionalTalk]

KBB is a joke. It's based on surveys of used car dealers' full advertised sticker price.

Edmunds uses actual transaction data from DMV registrations. Tax fraud does tend to skew their numbers on the low side but nevertheless it's a far more accurate guide to fair market value.

I'm running at 50c per mile just in depreciation cost for my last car purchase. Cars are AIDS

[Baron Von Strucker]

in canada not sure about the US the trade in price is deducted from the cost of the car you are purchasing NO TAX. and will also save you the hassle of trying to sell that old beater on craigslist.

BTW very nice of you to buy your bro a car!

[Crowe Diddly]

New car dealers are all about selling new cars. Second-hand and trade-ins are a huge pain the arse for the dealer - a necessary evil.

In the US, this is oftentimes very much backwards. the used cars are where the largest profits lie. Everyone has the new 2016 Fuckmobile XLT. The 2008 Fuckmobile with 62K miles and some light interior wear, you can't shop that one down the street. Everyone has the same new cars, while used cars are harder to compare, harder to shop against, and much easier to make a larger profit on.

[cmoney]

My experience is in the UK so it maybe a bit different, but I expect not a lot.

New car dealers are all about selling new cars. Second-hand and trade-ins are a huge pain the arse for the dealer - a necessary evil.

When you buy a new car - it's all about "the deal". You might be able to negotiate a great discount, but get fucked on the trade-in. Or you get a great trade-in, but no discount. You never get a big discount and a great trade-in.

Next up, the sticker price you see for that other similar car is almost never the price it will sell for. So knock $4-5k off for haggle room, and another $3-4k for the dealers margin, and in reality you are looking at $43k like-for-like. It does no harm to print off that other advert and put it in front of your dealer to try and up your trade-in.

There might not be another LR dealer for miles, but you can still ring round other dealers and get a price which you can use as a benchmark. Some premium marques just won't discount, period. Mass market brands are much more likely to. But you can find this out by ringing around.

Always press for a deal on the last day of the month, ideally last day of the quarter. If your dealer is one or two sales from hitting quota, you are much more likely to get the best deal.

In the UK the market has evolved and you now have car brokers that give you a rock bottom, no haggle, take-it-or-leave it price. For the savvy buyer that knows exactly what they want, this is the best route, and I've used this for my last 2 purchases.

Solid advice thank you.

If the sticker is 67 k and I want to get a lease anyone know what I should try to go for in terms of principle? 60?

[cmoney]

New car dealers are all about selling new cars. Second-hand and trade-ins are a huge pain the arse for the dealer - a necessary evil.

In the US, this is oftentimes very much backwards. the used cars are where the largest profits lie. Everyone has the new 2016 Fuckmobile XLT. The 2008 Fuckmobile with 62K miles and some light interior wear, you can't shop that one down the street. Everyone has the same new cars, while used cars are harder to compare, harder to shop against, and much easier to make a larger profit on.

That is kind of what I am afraid of. I could sell it for 38k and they sell it for 50k a week later. I get they are taking a gamble but still. I think 43-45k and then try to get the base down on the 67k to 60. I am not sure if that is reasonable or they just laugh me off the lot.

[Pooh]

What's up with the n-word rims? No offense but shit. You're a rich guy stop driving something that a rapper would drive.

[cmoney]

What's up with the n-word rims? No offense but shit. You're a rich guy stop driving something that a rapper would drive.

I kind of like the nig rims. but yeah does look like a rapper car. Probably one of the reasons I am getting my loser brother a car and using it as part of the payment.

[Pooh]

What's up with the n-word rims? No offense but shit. You're a rich guy stop driving something that a rapper would drive.

I kind of like the nig rims. but yeah does look like a rapper car. Probably one of the reasons I am getting my loser brother a car and using it as part of the payment.

What's your other vehicle again?

[cmoney]

I kind of like the nig rims. but yeah does look like a rapper car. Probably one of the reasons I am getting my loser brother a car and using it as part of the payment.

What's your other vehicle again?

I have an Audi A8 and pos jeep

[jacosta24]

Have you seen what Carmax will offer you for your car?

[cmoney]

Have you seen what Carmax will offer you for your car?

That is a good idea. I will look into that. I could at least use it as a gauge to find out where i am at (even if on the lower end)

[Pooh]

Have you seen what Carmax will offer you for your car?

That is a good idea. I will look into that. I could at least use it as a gauge to find out where i am at (even if on the lower end)

Do NOT go to Carmax. It'll be a waste of time and will just end up pissing you off for what they offer. If you want top dollar or even reasonable money then you are going to have to suck it up and privately sell it. If you just want to dump it then go to Carmax or trade it in. I'm going through the same shit trying to sell two houses. Fucking sucks to wait for someone to buy.

[GambleBotsChafedPenis]

have you tried truecar.com? don't know exactly how it works, but lets you know what people in the area have paid for a car and you can print out a page that the dealer will sell to you at, but:

1. don't know if this works for high end cars.
2. don't know if it would work if they were the only game in town so to speak.
3. they would have to be a participating dealer.

not sure if they do it for just purchasing a car or leasing a car as well.