Last post on Mar 14, 2013 at 8:32 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Car Buying, Car Leasing
Jan 31, 2011 (9:53 am)
I'd love to get some more info on Lease Broker's? Are there any National Agencies that part take in this?
#7 of 45 Re: Lease Broker's? [millemiglia]
Jan 31, 2011 (11:14 am)
Any Auto brokerr will have the same license as a car dealer , so all brokers are regulated in the basic same way by the DMV.
There are a couple big ones in southern California like Carsdirect or http://www.bestcarpurchase.com/
that you can use to shop online , plus manny more local nitch auto brokers serving their local communities; It is very typical for the korean community to have a local korean broker , or the armenian community and so on .
#8 of 45 Re: Lease Broker's? [millemiglia]
Jan 31, 2011 (2:04 pm)
Keep in mind that even if you work with a broker, you will be getting the car through a dealership.
It will be the the dealer who will complete paperwork on your lease and deliver the car to you.
#9 of 45 "I'm not doing this deal on a loss"
Mar 02, 2011 (7:50 am)
This happens without fail every time I'm looking to get a quote on a car.
I'll get a legitimate quote from a dealer or through Zap.com on Consumer Reports, and take that quote to another dealer.
And their reply will be: "Thank you for the opportunity but again I can not touch that-if a dealer is willing to take a loss on his vehicle than so be it-good luck I hope it turns out well for you."
Something about that line seems fishy, as if to give you a phony guilt trip or something.
Any thoughts on this?
#10 of 45 Re: "I'm not doing this deal on a loss" [plasticmoonrai]
Mar 02, 2011 (7:25 pm)
One dealer's loss may be a deal for anther dealer , or for an auto broker for that matter. Diffrent dealers get different incentives from the factory based on volume and volume of sales for the previous month .
So when a dealer tells you that they cannot do the price , they probably don't want to do that price because of a small proffit (keep in mind that the salesman gets a percentage of the proffit , so he may not be interested in selling a car for a mini deal of 50$ or 100$) , or simply that dealer did not meet the quota last month and they don't have all the incentives from the factory .
That's about it for today ,
Only advice : Use an Auto Broker when buying a new car , or be prepared to do the research and shop at least 5 dealers , to make sure that you get a good price . Also just because a website told you a price , does not meen that is a good price for thatmonth . I have seen sites like truecar that give a average price , and we could beat that price by more then 5.000 so it is all relative because incentives change on a monthly basis for most cars .
#11 of 45 Re: Leasing brokers [daniel12304]
May 16, 2011 (9:18 am)
Any brokers people can recommend in NYC?
#13 of 45 Negative equity trade- in
Jun 29, 2011 (12:03 pm)
I currently have a lexus with approx. 3,000 in negative equity. I would like to trade in my car and possibly lease to keep my payments lower then financing a new vehicle. Would this would be a good idea? I would be interested in a mercedes c class or audi a4/a5. What would be the best plan of action for this situtaion , so I know what I am getting into when I go to the dealer.
#15 of 45 Re: Negative equity trade- in [tntgirl12]
Jun 29, 2011 (2:03 pm)
I'm sure this isn't what you want to read but the best plan of action is to keep the Lexus and keep paying on it until at least the time at which you're no longer upside down.
When you roll negative equity into the next vehicle it means you're even further upside down on it's loan. It'll take longer still to hit the break even point and actually gain some equity. You will likely also wind up paying more in interest changes and may not qualify for the best loan rates and/or be forced to carry (and pay for) gap insurance.
Financially, it just doesn't make sense.
Of course, finances aren't everything. If the Lexus no longer fits your life - no longer holds the entire family, lost job & can't afford payments, etc. - then trading it in may be the appropriate thing to do.
Personally, I buy cars that I believe I'll be comfortable with for 8 or more years. By doing so I enjoy several years with no payments and have positive equity to use when the time comes to buy my next car. My last car I bought in Feb '99 with 15% down, financed the rest for 2 years so it was paid off in early '01, and kept it until Dec '09. I enjoyed eight and a half years without payments and was never in a negative equity position.