Car broker
Hello, I'm new to this forum and new to using a car broker as well! I read the article discussing car brokers and now I'm a little worried on the one I chose. I asked what the fee is for their service and they said they don't charge a fee to the customer, the fee is paid by the dealership.
Is there anymore important questions I should be asking about this? I'm pretty clueless and I do truly want the best deal on my car (just for everyone's info I plan on leasing a Kia base model).
Thanks
PS: If it makes responding easier, I can provide the state, car broker company I'm going through. Also, if someone wants to use that info to call and ask questions and let me know the result that would be fine too.
Is there anymore important questions I should be asking about this? I'm pretty clueless and I do truly want the best deal on my car (just for everyone's info I plan on leasing a Kia base model).
Thanks
PS: If it makes responding easier, I can provide the state, car broker company I'm going through. Also, if someone wants to use that info to call and ask questions and let me know the result that would be fine too.
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And, brokers don't collect their fees from the dealer; they collect them from the purchaser.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
For the fee, that's what the car broker said when I asked what is the fee for going through your services and if it's a flat fee. He said "We don't charge a fee to the customer, our fee is paid by the dealerships" (if it helps I live in California so maybe it varies state to state? not sure).
It's easy to get 15K mi/yr, just tell them that is what you want.
It's possible that the Optima isn't the best car to lease, and maybe you should be looking at some competitors.
People use a broker, because they don't want to deal with anything, or worry about the price they pay. Yet, you are on Edmunds doing research (which is great!), so maybe using a broker isn't for you?
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Well, I know Kia Optima's are pretty good with regards to safety and reliability. I guess I could look for other cars but I prefer just to do another Optima. I also find it weird how they had a deal for my Optima (back when I leased it in 2016) for 99$/month, 12k miles and I believe I put down 2500 or 2000 for their 24 month lease. Now, for a 2018 its 1999 down, $204/month with 12k miles for a 24 month lease. Just seems ridiculous but oh well...
I also found it weird that the broker asked what is more important for me; lower monthly payment and more out of pocket or more monthly payments and lower out of pocket.... Not sure why this seemed odd to me but it just stuck out. Perhaps it seems like a silly question since I want both out of pocket AND monthly payments to be low... upping one and lowering the other just seems like a cool trick to make it seem like your saving money
EDIT: is it true that if a broker requires a fee that they are being paid by you and the dealer as well? It would be nice if someone gave me some important questions to ask brokers.
Thanks for all the comments so far.
As far as the broker's question, they want to know how you want the lease structured. To keep things simple, tell them you want to only pay first payment and DMV fees at lease signing. That way, you have an apples to apples comparison on prices.
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Thanks
You need to find out the payoff value and the trade value of your current car. Call the bank for the former, and take your car to CarMax for the latter number. That way, you will know how much positive or (likely) negative equity you have, that has to be addressed in the new deal.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Better to get independent verification of this information that you can use in negotiations.
Three years ago, I traded in my wife's Mazda for a Subaru. Took the Mazda to CarMax, where they gave me an offer of $12,500.
I immediately went to the Subaru dealer, where they offered me $10,500. I showed them the quote from CarMax, and they updated their offer to match.
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You may be best served by waiting until your existing lease is up; that is one less complication to worry about with the new deal.
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