What you guys really need to know when buying.....
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Joined: Apr 2008
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Point taken that you can assume I would have no idea what other locations are doing, but I actually do have a way.
As for your deal, I'm sure they got you on the Money Factor so you really didn't get the best deal possible....A dealership can sell a car for $500 under and still make money because they inflated the MF. Even though it is not looked at as an interest rate it basically is. If you multiply the money factor by 24 on a lease you are going to come up with an interest rate.
For those who don't know interest rates....2% over Buy rate gets a dealership roughly $2000 back from a bank.
There is always room to play. So even though you were happy with your under invoice deal, you could have still had a lower payment if you had worked the money factor or interest rate.
Just trying to help, but some of you seem like you want to just argue your own facts which may bge specific to your situation, but mine cover all aspects of the purchase.
I have boughten 8 cars in the last 5 years and have sold over 800. So your 11 in 10 does not impress me.
As for your deal, I'm sure they got you on the Money Factor so you really didn't get the best deal possible....A dealership can sell a car for $500 under and still make money because they inflated the MF. Even though it is not looked at as an interest rate it basically is. If you multiply the money factor by 24 on a lease you are going to come up with an interest rate.
For those who don't know interest rates....2% over Buy rate gets a dealership roughly $2000 back from a bank.
There is always room to play. So even though you were happy with your under invoice deal, you could have still had a lower payment if you had worked the money factor or interest rate.
Just trying to help, but some of you seem like you want to just argue your own facts which may bge specific to your situation, but mine cover all aspects of the purchase.
I have boughten 8 cars in the last 5 years and have sold over 800. So your 11 in 10 does not impress me.
All help is welcomed..I just thought you were going at it the wrong way...and all aspects of the purchase are covered if you look at the right forum topic...
I'm not trying to impress you with the cars i've boughten[sic]..
.just saying that I've done it enough to know the tricks...But by the same token I'm not impressed that you've sold x number of cars in new england..when I'm looking for a deal in KY. Plus, I've had several salesmen that knew less about the leasing process that I do, so ...just being a salesman doesn't mean that you are good at it...heh..I think we've all dealt with the highschool dropout salesman guy...It's easy enough to find the IFS residual and MF data on the web so you can go into the deal with all the information you need. Not saying that people won't appreciate your help...Just saying that any info you've given or are complaining about not having is already available if you read through the forum...I'm sure people on this forum looking for a car in your local area will be glad to have you to get info from.
Last edited by Cohee; Jun 9, 2008 at 01:50 PM. Reason: additional indo
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Joined: Feb 2008
Posts: 327
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From: Los Angeles, CA
Good point. Unlike financing, it doesn't make any sense to "advance pay" or pay down the principle with a lease. That's just what comes in the mail so you're married to it for the life of the lease term.
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