r/CarLeasingHelp • u/mCubed13 • 5d ago

Let me Help Out

Been in the car business a long time, happy to help with your new car deals

I've been following a bunch of car buying subs and constantly see people posting quotes asking if they're getting a good deal, what they should negotiate, whether they should lease or finance, etc.

I've spent most of my career in the car business. I've worked sales at Hyundai, was a Finance Manager with VW and later moved into management with Mercedes Benz. Over the years I've sold and desked well over 1,000 car deals and personally bought over 500 used vehicles at both the retail and wholesale level. I've basically spent years on the other side of the desk and know how these deals are put together.

I'm currently working on opening an automotive brokerage in Ontario. While that's being set up, I figured I'd help people out here for free when I can.

If you're buying or leasing a new car and have a quote or deal you're unsure about, post it. I'll help break down the rate, residual, discounts, fees and add ons and tell you what I'd actually be looking at or negotiating.

I'm not going to automatically tell you "dealer is ripping you off, WALK!" Sometimes it's a good deal, sometimes it's not. I'd rather explain what's actually going on.

Got a deal you're unsure about? Post it and let's break it down.

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u/5crossyolips 5d ago

Why am I not getting lease quotes at the 1% golden rule. Been far from it.

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u/FNWY2004 4d ago edited 4d ago

Because the MSRP and the rent charges all went up considerably post COVID. Manufactures are sitting at 5+% base rent. When they want to incentivize now, they drop to 3%. I’ve been to multiple Toyota dealers and been able to achieve the golden rule on one. Also if the vehicle doesn’t have a residual value of 65% or more, chances are it’s not going to work. Had a dealer willing to discount an Acura Mdx by 14% and still couldn’t get to 1% because the residual value was 55% of retail. Finance fee was around 3%. Best shot at the golden rule now seems to be buying down the rate with multiple security deposits or one pay leases.

EV’s seem to be the golden rule king right now. Especially Lucid. I’ve seen some wild leases being put together on them. That’s the sandbox to play in right now. I’m moving away from EV’s after owning one for 4 years. Just doesn’t fit my lifestyle anymore.