How I leased my new car for $1,374 under invoice. How to buy or lease your next car and get the best possible deal.

My father was always very knowledgeable about the car business, and when it came to purchasing or leasing a new car, he always took care of the negotiations with the dealers for our whole family.

He was never (hate to say it) the sucker who wasted 6 hours at the dealer.

He was always armed with knowledge and came out on top of the game.

Up until now, since I got my license, he had put me into three leases with amazing deals.

Four years ago, shortly after putting me into my G35, he passed away.

As my lease termination date began to get closer, my biggest fear was not knowing what to do, and how to get into a good deal like my Dad did.

I remember him saying I should never put any money down for a lease.

To understand why, Read the section on “Down Payment” here.

I also remember a few times when my Dad made a deal with the sales manager on the phone, but when he showed up at the store, the sales manager would not honor the deal…forcing my Dad to walk out.

I was worried, that as a woman, I would face even bigger challenges.

But I figured I’m a big girl, and need to finally do this on my own.

My plan was to lease a new car again.  Here’s a little read on Leasing vs. Buying.  I tend to like new cars.

I naturally turned to the internet and read all that I could find on leasing at Edmunds.com.

I read the “Leasing Quiz” section, the “10 Steps to Leasing a New Car” section, the “Leasing Glossery”, and much much more, all listed here.

Edmunds also has a wealth of information on Car Buying here.

Although Edmunds was very helpful, I knew that in order to be fully armed, I was going to need something a little more than what their articles provided me with…after all Edmunds has nothing but sponsorships from car manufacturers on their site.

How much are they really willing to reveal about the secrets of getting into a great deal?

Even the amusing little article titled “Confessions of a Car Salesman” didn’t give me the insight I felt I needed, in order to “win” at the dealership.

Since I’m a Consumer Reports subscriber, I knew that they had their own version of car buying advice, in a booklet called “The Consumer Reports New Car Buying Kit”.

Since Consumer Reports accepts no sponsorship of any kind, and is purely a publication paid for by consumers, I trusted it to be a reliable source of information and was prepared to purchase their booklet.

However, during my search for a good book on Amazon, I stumbled upon a book I consider to be, just as the book’s title suggests, the car buyer’s bible.  After reading the “Car Buyer’s and Leaser’s Negotiating Bible” by James Bragg, I no longer felt the need to order the Consumer Reports New Car Buying Kit (sorry Consumer Reports).

I read this book inside and out, highlighted the most pertinent sections, and re-read them.

As suggested in the book, fifteen days before my lease was up,  I also ordered my information package from James Bragg’s website called FightingChance.com

Since the book is three years old, the purpose of the information package is to give you the most current information on Dealer Holdbacks and Incentives, including the latest CarDeals report as it applies to the specific manufacturer of your choice (if you’re lost, don’t worry, it’s all explained in the book and package).

The best advice in the book, which you’d think would be obvious, is to buy or lease your car at the end of the month when dealerships are trying to hit their number targets.

So as the end of the month neared, I took four days off from work to wheel and deal.

On April 30th, I leased my 2008 Infiniti EX for $1,374 under invoice…and no I’m not exaggerating.

To summarize, here’s what I did, as per my instructions from the book:

1. I test drove the car of my choice (a few times and longer than for just 5 minutes)
2. Waited until the end of the month to make my deal 
3. Since new cars are a commodity, I got dealerships to bid for my business all from the comfort of my own home
4. On the last day of the month, I went into the dealership, signed my papers, and simply drove off with my brand new vehicle!

Yes it was that easy.

Here’s the “Bottom Line” according to James Bragg on FightingChance.com

• “New cars are just expensive commodities — the same vehicles with essentially the same pricing structure at every dealership selling that nameplate.
• You’ll always get the best price on any commodity — including new cars — if you make several suppliers bid competitively for your business.
• There is no “dealer who always gives the best deals” in any market. This month’s low bidder may be next month’s high bidder, depending on where the dealership stands vs. its bonus targets.
• In today’s retail auto marketplace, walking into a showroom and making an offer by “bargaining up” from a “real price” is a terrible idea if your objective is to get the best deal available.
• Any automotive information source that isn’t telling you this either doesn’t know it, or doesn’t want you to know it.”

The dealership that gave me the best deal was an hour and a half away, but the drive was worth the savings.

To find out how to get dealerships to bid for your business, and to get the best possible price on your next purchase or lease, reading the “Car Buyer’s and Leaser’s Negotiating Bible” is a must!

Thank you James Bragg for providing such a wealth of information, and for giving me the confidence and skills to negotiate the price of the car I wanted, the car I didn’t think I could ever afford.

I’m so thrilled with what I learned from this book, I just had to share.

I hope it helps you too!

Tags: best way to buy or lease a car, How to buy a new car, how to lease a new car