A good lease is ultimately how much are you paying per month relative to the price of the car.
More moments · 5
Ep 76Dealers want to sell cars, so here's how to actually get the dealYossi Levi (Car Dealership Guy)
▶1:21
Dealers want to sell cars, so here's how to actually get the deal
Ep 76Do you know who's the number one seller of new cars in the country?Yossi Levi (Car Dealership Guy)
▶0:42
Do you know who's the number one seller of new cars in the country?
Ep 76Treat your leased car as an asset before you buy it outYossi Levi (Car Dealership Guy)
▶1:30
Treat your leased car as an asset before you buy it out
Ep 76I told my wife we might have to move to a two-bedroomYossi Levi (Car Dealership Guy)
▶1:04
I told my wife we might have to move to a two-bedroom
Ep 76Valued at $200 million, then slapped in the faceYossi Levi (Car Dealership Guy)
▶0:37
Valued at $200 million, then slapped in the face
Try this · top 3
Quotes
“You should treat the vehicle as an asset.”
Yossi Levi (Car Dealership Guy) (on deciding whether to buy out a lease: compare its market value to the buyout)
“Costco is the number one seller of new cars in the country.”
Yossi Levi (Car Dealership Guy)
“Don't just walk into the dealership. Like that's a terrible idea.”
Yossi Levi (Car Dealership Guy) (find the best-rated salesperson first and work with them remotely)
“Put it on the leasing company to take the risk.”
Yossi Levi (Car Dealership Guy) (on EV batteries - lease an EV, don't buy it)
“Follow the supply. That's where you'll find the deal.”
Yossi Levi (Car Dealership Guy)
“Don't follow your passion that's like BS advice.”
Yossi Levi (Car Dealership Guy) (find where what you're good at meets what the market needs)
“No one cares that you failed.”
Yossi Levi (Car Dealership Guy)
“Try taking an Uber every day. It's going to add up pretty quickly.”
Yossi Levi (Car Dealership Guy) (on giving up a car for rideshare)
Takeaways
1 Yossi Levi was a dealer for 13 years and founded an online car startup that raised over $50 million and later failed when interest rates rose. He then built Car Dealership Guy, a car industry media company.
2 The host notes that earlier episodes were critical of leasing and pricey cars; Yossi speaks from the dealer side.
3 Lease terms change with the market: from about 2021 to 2023 leasing was a bad deal, and by mid-2024 it was more attractive for most brands.
4 Price cuts on new cars trickle down to the same used models.
5 Toyota, Honda, Lexus and Subaru had tight supply (30-40 days), so discounts on popular models like hybrids were rare. Oversupplied brands offered bigger incentives.
6 Used car values rose 35-40% and then fell back. EV prices dropped as much as 50%, so many lease buyouts no longer made sense.
7 Dealers post their best prices online to compete, so there's some wiggle room but not thousands off.
8 As of mid-2024: charging an EV averaged about $35 a month; new EVs could qualify for a $7,500 tax credit and used EVs under $25,000 for up to $4,000.
9 Leasing an EV often cost 15-25% less per month than buying, with less money down and no battery or resale risk.
10 The host praises people who drive older paid-off cars instead of keeping up with the neighbors. Yossi's own family drives a Toyota Sienna hybrid - he looks for value.
11 Extended warranties can carry about 60% profit margins for dealers, compared with about 10% on the car itself (host's recap of Yossi's bonus comments).