Leasehacking Tips from Female Hackrs
There’s a perception that men are better equipped at shopping for cars than women because of their general enthusiasm for the subject.
The truth is — knowing the nuts and bolts of a vehicle does not immediately make you an effective negotiator. By learning tips, tricks, and the overall approach we call the Leasehackr Method, men and women can equally score a competitive deal on a new car lease.
That said, we recognize women face unique challenges due to the ingrained perceptions that sellers have toward female shoppers. So we reached out to our community of female hackrs for their perspectives and tips on leasehacking (which apply to men too!).
Linda Zhang is the Chief Engineer for Ford’s first all-electric F-150 Lightning, leading the electrification revolution at Ford for the world’s best-selling vehicle.
Shop for deals, not salespeople
Dealerships can perceive women as being more relationship-oriented — and often exploit this trait. From the group of female community members we interviewed, many echoed similar stories where they were overcharged by people they trusted.
“I thought I was in good hands when I got connected to my dad’s friend who runs the dealership,” said Melissa, who leased a MINI Cooper Hardtop in 2020. “I felt comfortable because the salesperson who helped me was a friendly woman around my age — someone I could relate to. I only realized that I had grossly overpaid for my lease by around $5,000 (for a $28,000 car) when I discovered Leasehackr and understood the components that went into a lease.”
According to Cars.com’s survey, women tend to be less skeptical of salespeople than men, and they value personal interaction with their salespeople as well as their expertise. Based on this perception, dealerships are getting more creative to gain female shoppers’ trust, setting up promotions like a weekly Ladies’ Day where female visitors can get manicures and massages.
Don Hattan Dealerships offer complimentary massage and manicure services to attract female shoppers.
Source: Automotive News
While we commend initiatives to make the women’s car shopping experience more relatable, do not assume that you will get a fair deal from these tailored experiences. Dealerships are incentivized to maximize their profit on every customer. Leverage your connections, but still hunt for deals.
Network with fellow shoppers
Apply your strength in relationship building to network with your fellow Leasehackrs instead, who have the same incentive as you do when it comes to car shopping. “It definitely makes a difference whom you email at the dealership, as opposed to just sending in a general online inquiry,” said Jamie (@jamiemose), a female @trusted_hackr. “Heed advice from fellow Leasehackrs and network with them/utilize their contacts!”
“Heed advice from fellow Leasehackrs and network with them/utilize their contacts!”
“You need to have realistic expectations to be taken seriously. So if you receive advice that the numbers you’re looking for aren’t going to work, don’t just brush it off,” Jamie advised. “I was referred to my Subaru salesperson from a fellow Leasehackr, and it was by far the best dealership encounter I’ve had.”
Know your numbers
Buying or leasing a car is a financial decision. As with all financial decisions, you need to arm yourself with numbers.
“My biggest piece of advice would be to know your numbers in and out, and don’t be afraid to walk away from a dealership if you can tell they just won’t work with you,” said Jamie.
Jamie recounted her recent negotiation experience: “I sent an email to a dealership asking them for $xxx/monthly with first month/registration down, and the salesperson called me within 10 minutes to say ‘Oh honey, in order to stay in your budget, you’re definitely going to have to go down to our base trim’.”
“I certainly did not respond to any of his follow up emails and ignored his incessant calls. I sent him my signed contract with the exact numbers I asked for, on the trim I wanted, about a week after that condescending call,” smiled Jamie.
Unlike with computers or shoes, there is no one price for a car (with the exception of direct-to-consumer makes like Tesla, although even they will change prices unannounced). The price you pay depends on the supply and demand of the desired model within your region, your credit score, and even how you approach the negotiation. So do your homework! Start your research on Leasehackr Marketplace, where our business members offer community-vetted deals, and our SIGNED! database to see what others are paying.
Negotiate remotely
Speaking of how to approach negotiation, Leasehackr has long championed negotiating remotely through phone, text message, and/or email. This goes for both male and female shoppers. Negotiating remotely could not only help reduce any gender or racial profiling, but it also prevents dealers from holding you hostage at the dealership, enabling you more time and channels to comparison shop.
Be informed when you negotiate. “Utilize the various resources on Leasehackr to understand the terminology associated with leasing, and even how to manually calculate a lease,” advised Jamie. “It allowed me to interact with dealerships with substantially more confidence.”
Shop for what you want, not for what other people say you need
Men dominate the auto space, whether in sales, media, or discourse. It’s easy to think that the attributes that men value in a car are what you as a woman should be looking for too.
“You might get advice from men that you should go with, say, a BMW X3 instead of a Kia Telluride, given they could be leased within the same price range,” said Victoria Xie, Co-Founder of Leasehackr. “But if you value space, ventilated seats, captain’s chairs, and a smooth ride over prestige and sportiness, you may prefer the Telluride, if it fits your lifestyle better.”
2022 BMW X3 (Source: Edmunds)
2022 Kia Telluride (Source: Kia.com)
Respect what you want, and choose accordingly. As long as you understand how to evaluate a deal for that particular car, while also considering comparable alternatives, you are golden.
Why many women choose to lease
62% of new cars are purchased by women in the US, according to a recent survey. “If you are like me and want minimal trips to the service department, leasing provides a great value proposition,” Victoria said. “Your new car is covered by a warranty and is unlikely to require expensive maintenance.” Such sentiment is shared among many female shoppers, and really anyone who isn’t enthusiastic about maintaining their cars.
“Additionally, with the way technology and safety features are constantly advancing, it’s nice to get into a new car every 3 years!” said Jamie.
Source: CJPonyParts.com