My leasing adventure
Release Date: 04/04/2019
A Quick list for used vehicle buying Hold off a bit longer if you can A dozen ideas out of 100 Shopping before any price talk America is angry Pricing is still crazy , thanks Joe Get your sea legs before you talk price Complete bank info Trade in info Get your price range Just worry about product comparison Negotiation is always after due diligence and that’s after productinfo_outline Important considerations when buying a truck
What to consider when buying a truck EV Tesla loses 182 billion EV sales are off and Companies are teetering on losses Like I said resale issues, another 15% Now trucks are more than trucks Resale and discounts don’t mix High current market will cause huge resale losses The market remembers Pickup box size matters Transmission and resale Engine, bigger is usually better, even now 4x4 = $x$ Keeps on giving Know exactly what you need Factor needs vs resale Finance dollars are a bigger factor Used truck market is nuts Carfax Check for Flood even more so Now is not the time to...info_outline EV History and After the purchase of any vehicle
Electric vehicles have a long history of trying Before fossil fuel When is enough, enough? First hybrid a long time ago by who? Number 6 Manufacturer There are things to do preparing for the long hall Make sure you got what you paid for Check everything after the delivery as well Check all paperwork numbers Read he manual or if needed, get one, even the keeper Used, change fluids Is Vehicle climate change the chicken or the egg? Clean it Get all the carry on extras Do the protection Set up maintenance Air tag or tile Keeping it, Prepare it for starting overinfo_outline Understanding the sales labels
Understanding the sales labels The carry long list could save you Ev ‘s don’t save you a nickel, ever Monroney is the one that matters Get the right information Double Monroney label con What can a Monroney label can tell you It’s part of the diligence Lots of extra info Other add on labels Look alike factory label makes a used seem new Buyers guide required Used labels for equipment only MSRP for proper comparison Monroney labels.com for a copy of the original Monroney OTD is all that countsinfo_outline Is purchasing a luxury vehicle different?
Luxury considerations What qualifies as Luxury ? Safety is paramount The latest High tech Resale is still #1 Power, quality, technology EV lots of luxury models More affordable then you think Leases are best What affects luxury resale Due diligence is required Luxury uses the same techniques but they are worth more In person please Each issue is thousands Trade shopping is even more important Enough quotes? OTD and CPI are the same More polite but not your friends Used Car-fax or Auto-check flood checkinfo_outline F&I in today's market
Handling the F&I /business office experience Tesla discounts coming down to about 55000 OTD Still a small percentage of the market Shorter life span more sales for the dealer F&I profits are way up, what should you do? When things are this crazy, if you can, wait How to process F&I aka business office Forced pitch from F&I, get up and leave Business office and sales are separate CPI to stop payment packing Delivery after bank approval Dealer finance reserve is the biggest profit potential for the finance office Bank shopping pre dealer visit is paramount No to everything...info_outline What you should do when you want to buy but you are pressed for time
What if you have limited time to make the purchase? Electrics when it’s cold weather Power drain is much faster Check rating in 3 or 4 stories Consistency means resale What was missed Time well spent Due diligence rush Phone and Internet Is one-price a choice? One day, the whole day Be assertive, not aggressive Aftermarket exceptions What slows you down? Something is better than nothing The basics of the basicinfo_outline What you should do to get the most out of your vehicle when trading or selling
What you should do to get the most out of your vehicle Multiple charging methods that ALL take time Rates are up so credit comparison shopping is a key Both rate and terms Which method, trade in, sell to a dealer or sell outright No matter what you trade in or sell, recondition as much as you can Know why you are selling, they will ask What you should verify and know Retailing pays Preparation is the same Know what you are trading in Deal first, trade second Getting all the resale out of your vehicle Small investment, big returns No matter how old it is, prepare it Trade payoff planning...info_outline Other used vehicle choices during these crazy times
Other used vehicle choices during these crazy times Time is money. Follow the plan Charging stations and unit numbers are big difference Average deal price goes up in a down year? Off lease check it more Rentals mean poor servicing Rental car deals….Not! A lease is not a rental They are not worth more, just the opposite Repos maybe OK If you are looking call your banker Flood may be a bigger consideration on rental, repo and lease Flood can be invisible Odometer laws are federal Always get a mileage statement See the titleinfo_outline No credit, bad credit, how do you borrow?
No credit, bad credit, how do you borrow? Battery development is the key issue Turn the battery into the frame The harder to fix the shorter the life span Inflation oozes into vehicle interest rates The banks, more risk, more rate Know your budget and stick to it Down payment isn’t a lock Employment offers and testimonials help FTB, finance first, buy and negotiate second Don’t give up Shop every bank Financing has many sources Referral letters will help Cosigners are the best answer Recourse dealers Improve the risk Buy here pay here may be the last choiceinfo_outline
My leasing adventure
- Cash reporting
- What vehicle
- Quote Persistence
- Current lease or trade
- Where’s the lease email?
- Dealers try to control
- Get an email
- Go up the ladder!
- Shop your trade and bump it
- Factory programs aren’t always available
- Be prepared to change makes
- Do it your way or move on
- Confirm the terms
- Make sure it is all in CPI