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Ask me anything about car leasing

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316
Johnette
09-21-2018
07:53 PM ET (US)
Thanks for sharing your well put together website.


My webpage; Tour du lịch Côn Minh Lệ Giang Shangrila
315
Markus AllenPerson was signed in when posted
09-18-2018
08:11 PM ET (US)
I hear this nonsense all day long... stuff like:

"So I can sell you this car $1000 under dealer invoice..."

As I have said numerous times on my leasing blog - after the dust settles, the car dealer buys their inventory for a smidge less than 50% of the MSRP.

That means a $50,000 car costs the car dealer less than $25,000.

We know this is true, because I am regularly seeing leased new cars at 25 to 26.5% off the MSRP. (Again, I cannot make a claim that you will get same - the FTC is super hard on claims these days). But the point is "invoice price" is not even close to what the dealership pay for their cars. A $1,000 under "invoice price" is highly insulting to me. Big woop.

True: only Toyota charges for GAP coverage.

All the other fees and documentation charges are not necessarily B.S... it is just pure profit for the dealer. And with my system, we easily get these fees reduced to virtually nothin'.

The big lie is Residual Value. A lot of "Lease Hackers" love to look hard at that percentage. I can tell you from analyzing my client's paperwork that no two of my clients get the same Residual Value - even on the same new car. This number goes up and down depending on how good a deal we get. So we ignore the Residual Value when going after the lowest price. Again, we know this is true... because a Jeep Wrangler (which is around 72% RV) should cost less than $290 per month with their super-high Residual Percentage. But, the Jeep Wrangler is amongst the worst leases out there - usually coming in over $550.00 a month with an eye-popping $5,000.00 down.

Car sellers are MASTER magicians and illusionists. They get us to think we always get a good deal. Most people get fleeced and have no idea. Their lies are shameful and insulting.

There is only one number that counts in this game - the monthly payment with $0 cash down. When my clients ask for this type of deal, it is (virtually) impossible to get fleeced.

- markus
Edited 09-18-2018 08:12 PM
314
Jordan Marton
09-18-2018
04:48 PM ET (US)
Thanks for the update. I dug through some old emails. Here is what the upfront payment was. Are some of those items BS?

All water under the bridge now. Will def get a good deal on a new lease.
FROM THE DEALER ON MY ORIGINAL LEASE "So I can sell you this car $1000 under dealer invoice and the lease payment is $662 for 36 month with 12,000 miles per year. That is paying your first month payment, motor vehicle, documentation fee, tire tax, supplemental tax(vehicles over $45,000) and up front documentation tax bringing the total due at signing to $1622.65. All ford leases come with GAP insurance at no cost to you. The residual value is $29,546.10 and the apr is .5%."

On Tue, Sep 18, 2018 at 4:44 PM QT - Markus Allen <
qtopic-52-QhJVT5mnY8c8@quicktopic.com> wrote:
313
Markus AllenPerson was signed in when posted
09-18-2018
04:44 PM ET (US)
Hey Jordan,

$1,600 upfront is a LOT of money for that vehicle... even though technically that is no "down payment."

With my system, we shoot for "true sign and drive" AND 1%. So the dealership delivers the car to our driveway, we sign the lease, they hand us the keys - and we never give them a penny. In fact, we never see a salesperson, either!

The worst-case scenario is "sign and drive" - first-month payment upfront plus government title fees.

- markus

UPDATE: As per your request, I deleted your post with your email and phone - here is what you posted:

I did pay money the day I received my car, but not a downpayment. Taxes, other titel and registration fees, etc., that came to about $1600, but none was a down payment.

Thanks for the info. Will be checking out your system soon.
Edited 09-18-2018 04:46 PM
312
Jordan Marton
09-18-2018
04:44 PM ET (US)
>
> Can you please update my last post and remove my email and cell phone?
> Thanks
311
Deleted by topic administrator 09-18-2018 04:46 PM
310
Markus AllenPerson was signed in when posted
09-14-2018
10:38 PM ET (US)
Hey hey Jordan,

I am going off the grid for the weekend in a moment - so here is a quick reply:

Most people forget to add in the down-payment amount. If you leased at $689 with a sign and drive ($0 cash down) deal, you did not get fleeced. But from experience, I am guessing you put down at least $2,000. I spoke to a client last night who put down a whopping $8,000.00!

Dealer distance does not matter. There is a dealership we use outside of Penn State University who regularly delivers new leased cars to Florida. These are the dealerships we want to use - they will do ANYTHING to lease us their inventory so they make their monthly manufacturer bonus. These bonuses are often hundreds and hundreds of thousands of extra dollars per month.

I have 2 sources that buy lease-end cars anywhere in the lower 48. And they almost always offer a lot more than a CarMax appraisal. Marketplace value is an illusion. We only care about the difference between the 10-day payoff (Residual Value + payments owed + lease-end fee) and the highest offer we get. The dealership will then take your lease-end car and try to flip it for $2,500 to $5,000 on their used car lot.

Remember, once you get my system, look for my extensive "Trades" tutorial.

Night!

- markus
309
Jordan Marton
09-14-2018
07:18 PM ET (US)
What makes it getting fleeced? $689 / $51000 price of the car is 1.3%, that is pretty close to 1%. Or is it that little bit that makes all the difference? Ideally I would’ve been paying $510/mo?
Does dealer matter as far as distance goes? Don’t I want local? How far is too far?
For a trade, am I looking for anyone willing to give me more than my residual value? Or anyone willing to give me market price? Market price for this car appears to be around $35,000. Residual is $30,000. Is there money to be made or a dealer won’t pay the amount that it can be sold for, so really I should just hand it back in and walk out?
Sent from my iPhone
308
Markus AllenPerson was signed in when posted
09-14-2018
04:12 PM ET (US)
Hey hey Jordan,

Here we go:

>- currently in the last 3-4 months of a 2016 lease of a Ford Explorer. The residual value is $30,000 even. My current monthly payment is $689 (sounds like this is wayyyy above your 1% target)
I hear this story every single day. Dealers makin' BANK on innocent lease customers. For $689 a month, you can use my system is lease almost any Volvo available. I hate to say this but you got fleeced. But that is okay, I got fleeced, too. And the same night I got fleeced, I went to work to create my KTL Leasing System. Sometimes we need a kick in the arse to move forward.

> - I want to convert this to a new lease of either a Ford or Chrysler vehicle, will I have better luck at Chrysler over Ford, or Ford over Chrysler, given the current car is a Ford?
There are many factors that let us know which manufacturer is the best for us month after month. This article helps figure it all out:
https://www.leasemorecarforlessmoney.com/r...thly-lease-payment/

> - Should I get a quote from CarMax or somewhere else before going to the dealer?
If you are getting my system, look for the tutorial titled "Trades". Yes, Car Max is one. I list a few others. We want get offers and see who is willing to give us the most. With that said, you might not have any lease equity. And that is cool. Because you have the option to just turn the car in and walk away. Whatever you do, do NOT mix the selling of a leased car with the leasing of a new car. We want them as separate transactions.

>- Does your program have the emails and info on how to begin those discussions?
Of course! Yes!

Most importantly, I have the list of all the aggressive car dealers - sorted by 3 nationwide zones AND sorted by car manufacturer. This makes it easy for us to come near the 1% rule.

> - Will I have luck leasing brand new 2019 model cars or those are harder to get good deals on?
There is a saying that goes something like, "There is no luck needed for the unprepared." We use knowledge, timing and logic to get more car for less money. And yes, this includes brand new model year cars.

- markus
307
Jordan M
09-14-2018
02:56 PM ET (US)
Hi Markus, browsing your blog and interested in your program. Just a few thoughts/questions for you to comment on before I get the program.
- currently in the last 3-4 months of a 2016 lease of a Ford Explorer. The residual value is $30,000 even. My current monthly payment is $689 (sounds like this is wayyyy above your 1% target)
- I want to convert this to a new lease of either a Ford or Chrysler vehicle, will I have better luck at Chrysler over Ford, or Ford over Chrysler, given the current car is a Ford?
- Should I get a quote from CarMax or somewhere else before going to the dealer?
- Does your program have the emails and info on how to begin those discussions?
- Will I have luck leasing brand new 2019 model cars or those are harder to get good deals on?
Edited 09-14-2018 02:58 PM
306
Leanne
09-12-2018
07:34 PM ET (US)
Hey Markus,

I’ve been reading all the tutorials. So much information. I’m making notes & will call a few minutes early with my questions tonight thanks..
305
KimSPerson was signed in when posted
09-10-2018
03:03 PM ET (US)
Thank you Markus!
304
Markus AllenPerson was signed in when posted
09-10-2018
02:42 PM ET (US)
Hey Leanne,

There is no need to sign in here. This is not my website.

- markus
303
Markus AllenPerson was signed in when posted
09-10-2018
02:41 PM ET (US)
Hey Kim S...

The price you will pay for your leased car is the:

- Residual Value plus
- any remaining payments plus
- any buyout fee.

- markus
302
Leanne
09-10-2018
12:56 PM ET (US)
I bought the program but used a different user name. I don’t usually use my real name as an online user name. Thanks. I tried to register to sign in to post here but was having trouble. It didn’t recognize the user name I used when I bought the program & said I had to register & when I try it says someone has already registered with that username. Is that because I already used that mane for the program or is this supposed to be a different mane?
Edited 09-10-2018 01:03 PM
301
KimSPerson was signed in when posted
09-10-2018
12:11 PM ET (US)
Hello.
I am about to buy out my 2015 kia optima ex lease, I'm pretty sure that's what I want to do - extremely low miles (5800), 1 scratch and dent from scraping a garage entrance pole (*eye roll*), and it's only 2.5 years at my lease maturation, so I still have 2.5 years left on my bumper to bumper warranty (not just powertrain which is to 100k or 10 yrs). It's been a fine car, and I figure at any time after buying, I can always decide to get something else anyway if I want to. But it seems I can finance it for a bit less than leasing a base trim LX (even though it has a few features mine doesn't; mine has a couple it doesn't, and the trim level listings have changed from 2015 to 2018).
They really tried to high pressure me into re-leasing that LX, and now I know why...lol. And I didn't appreciate it and said so.
So I got an approval (and check) from my bank to pay off the car.

So how to I get the best price for my leased car? I think the lease end value is under contract and pretty much set at about 12,700, and I will need to pay VA sales tax. But what fees can I get out of/are negotiable? And I can to this all by phone if necessary?
Thanks!
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