Tips on Buying Cars/best time to negotiate?
I plan on going to the dealer to negotiate the lease of a new car... is there a certain day of the week/time of day you would recommend going, or does it not really matter? Thanks
Preparation is very important before going in to negotiate. As far as time,I would go in the mid afternoon because management is usually available and they can spend time working on the deal.
Another thing that might help is the weather. Rainy days or snowy days can make a difference because it is a slow sales time.
Preparation would be things like:
1. Lease quotes on an identical unit from other dealers. Know what other dealers are suggesting.
2. A complete understanding of leasing and the terms other than payment.
Things like capitalized cost reduction(Actual down payment)
Start up costs like the first payment and security deposit are usually due in advance. Sales tax, are you including that in your payment quotes. The amount of mileage you will need every year and are your quotes based on that mileage allowance.
These are all things a dealer can use to make his payment look like a better deal. Are all of your lease quotes based on the same term (number of years). I suggest a person never lease for more then 3 years.
Who is the dealer using for a leasing company? Outside leasing companies are often stricter at the end of the lease in terms of wear and tear. Leasing companies owned by the manufacturer Usually have preset allowances in terms of the amount of wear and tear allowed. They are much more flexible.
One last point I will make is that you should know the residual value for your lease (the amount that is the stated value at the end of the lease term and you should also know if it is available for that value to you.
All of these factors can make a difference in negotiations.
Have a list and some other quotes before you go in to negotiate. The following web address has more information.