At CarEdge, we love to hear from our members about a great deal they’ve scored. It’s fun to see the ways that people are putting our solutions and knowledge to practical use to save some money!
Today, we’re going to highlight a story from Rich about the easy sale he was able to do because he reached out ahead of time to the dealership and did his research. Let’s see how he managed to secure a great deal on a brand-new lease.
Background: An Ending Lease
The story begins when Rich took his leased van into the dealership for a service appointment. As he was leaving, one of the salespeople approached and asked if Rich wanted to get into a new car and out of their lease.
Rich knew that he was approaching his mileage limit on his lease and didn’t want to pay for exceeding it. He was also aware of the semiconductor shortage and wanted to get into a new car before that shortage had a greater impact on the market.
Rich and the salesperson traded numbers. From his home, Rich started texting the salesperson about different vans after he ran them through the Market Price Report. Rich received several quotes before deciding on a 2021 Honda Odyssey Touring.
Before he went to the dealership, Rich secured several quotes for his car’s trade-in value from Carvana and Vroom. Securing these quotes helped Rich to point out to the salesperson what he would be able to get for his car at other locations. He knew that the dealership wanted his trade-in, so this was a perfect move to help him get the most value out of it.
You can get a trade-in value for your vehicle from within our app. Join CarEdge to gain access. Powered by Black Book, this value is used by dealers.
Once he had finalized the numbers with the salesperson, he was ready to head into the dealership to finalize the transaction and begin his next lease.
At the Dealership: A Smooth Transaction
Unfortunately, Rich discovered that the color of Odyssey that he wanted would need to be brought in from another dealership, which had the potential to change some of the numbers. However, Rich noticed a burgundy Odyssey on their lot that had been there for over 100 days.
When Rich asked about the burgundy van, they said it would cost $300 more. Rich pushed back gently, and the salesperson returned from the sales manager with a $1,000 discount on the van. Pointing out the days on the lot seemed to have helped.
The rest of the transaction went smoothly. Honda had the highest offer for the old van, so Rich did the trade in there, instead of through Carvana or Vroom. Having those quotes in hand did help Rich to secure a higher trade-in value. Rich left with a 2021 Honda Odyssey Touring on a 36-month lease and he’s happy with the great deal he got.
An Outstanding Transaction and a Great Deal
Rich didn’t mention anything that happened in the F&I office, so we’re assuming that the negotiations went so well that it wasn’t worth mentioning.
As Rich said, “This was the first auto transaction where I felt I knew how to approach everything and what exactly to expect in the process.” He didn’t have to get into hardball negotiating and he still got a great deal, which is something we love to see.