Leasehacker Shares With YouTube the Most Underrated Leasehacking Tip of Them All
VINwiki, the online automotive channel, released a new video today that shares with the broader YouTube community the basics of leasehacking.
Leasehacking is the art of informed car shopping, in which consumers understand the components that go into a lease, and use this knowledge to find excellent deals. For car enthusiasts, leasehacking opens up the door to new potential vehicles — perhaps ones that they didn’t realize were obtainable.
You can check out the video and discuss with fellow Leasehackrs here. The video covers the leasehacking community’s best practices and tips and as shared in our Leasing 101 articles.
The video features Leasehackr member Scott Smith (@ssmith96). Arguably the most underrated — but still highly effective — tip he relays is simply to be courteous and upfront to salespeople.
“They deal with nonsense all day long,” he explains. “People come in and say ‘I will definitely buy this car if you can do that deal’ — and then they definitely don’t buy the car when offered that deal.”
He adds, “It’s one of my unwritten rules to be as nice as possible and value the dealer’s time and say simply: ‘Look, if we can make this work, great. If not, that’s also alright, and I appreciate it.”
We completely agree — there’s no point to be combative with a dealer when leasehacking. In fact, there’s little correlation between the amount of time spent negotiating at the dealer and the amount saved.
Instead, conduct your research beforehand. Use the Leasehackr Calculator to estimate a target deal. Search Leasehackr Forum for data points and discuss with the community, including car salespeople and brokers, if you need input.
Leasehackr Calculator screenshot used in the video
Once armed with knowledge, email the dealer to obtain a quote for a specific vehicle in their inventory. Counter with your proposed deal. If a dealer declines, move on to the next dealer, or perhaps you might have to create a more realistic target.
Often we’ve found that if the shopper is courteous and upfront about their expectations, some dealers will accept a deal — even if they only break even or, in some cases, lose money — because it required minimal effort and time to get an aged vehicle off their lot.
Check out the video and discuss with fellow Leasehackrs here!