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Ford Flex Lease Questions

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  • samminsammin Posts: 39
    Hi Car-Man,

    Thank you; that confirm what the dealer is telling me. I was worried there was more cash to be had that the dealer was not telling me about. They are not going lower than employee pricing (which I can't complain about since it is nearly $5,000 off MSRP)

    Unfortunately the employee pricing seems to be lowering my trade-in value, that's a rotten thing for them to be pulling, so we are still negotiating that point.

    This was an ordered vehicle, (before employee pricing), now that the delivery date is falling during employee pricing, my trade (in their evil eyes) seems to have lost a lot of value to compensate for the employee pricing.

    Rotten bast*erds
  • You're welcome, sammin. I doubt that the Employee Pricing promotion has anything to do with the value of your trade. Used vehicle prices are falling at the fastest pace that I have ever seen right now. They are dropping so rapidly that a local chain of dealers in my neck of the woods recently instructed its managers not to take any trade-ins. The dealer is probably just being conservative in quoting you a price for your trade, and rightfully so in the current economic environment.

    Car_man
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  • samminsammin Posts: 39
    Ok, that makes me feel a little better as that is what they said as well.

    So here are the details on the deal, how did I do?

    Flex AWD Limited MSRP: $43,705
    Employee Price: $38,912
    Up front taxes (in NY), bank fee, DMV, etc: +$2100
    Cap Cost red: (trade credit after payoff and $500 dep): -$6400
    Adjusted Cap Cost: $34,612
    Resid: $22,290
    Out the door per month: $419

    I know, I know, I should not have put so much down (with the trade), but that is the only way I could keep the monthly payments semi reasonable.
  • Carman or anyone else with the info. I would greatly appreciate the current lease terms on the Ford Flex Limited with 10500 miles a year over 36 months. I am in Miami, FL 33144. Thank you in advance.
  • Please pass rate and residual for the Orange County area in CA (92886). Also, I need to return my current non-Ford lease. A Ford salesman told me I could return it to Ford and he will waive my last month lease payment. Can this be done, how?

    BTW, the residual value at the time of lease for my current car is $40K and the buyout price is $22K. Can Ford dealer buy it out for me and use whatever difference as a trade in value?
  • golicgolic Posts: 714
    If the buyout value is 22K what is the trade in value?

    If the trade in value exceeds the buyout, you can do a multi-step transaction where you purchase the car and then trade it in for another car at the dealership.

    I had the privilege of this happening to me once in my life.
  • 'Internet' trade in value came out to be around $25K, but don't know how much the dealer would quote me ... I'll just be happy if I get enough to cover the $500 turn in fee.
  • Hi Rich. Here's the information that you're looking for. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 Ford Flex Limited 2WD with 10,500 miles per year in your area are 4.5% and 51%, respectively.

    Car_man
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  • Here's the information that you're looking for, nws_reader. This vehicle's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different.

    Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 Ford Flex Limited FWD with 15,000 miles per year in your area are 4.5% and 48%, respectively.

    While it is possible that Ford is running a special early lease termination program, it has done so from time to time, I am not aware of one that is currently running. If this is not an official Ford program, having the dealer eat the final payment on your current lease will likely hamper your ability to get the best possible deal on your new vehicle.

    The values of used vehicles have absolutely fallen off of a cliff over the past several months. It is unlikely that your current leased vehicle is worth thousands of dollars more than its purchase option price.

    Car_man
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  • Went by the dealer today and was getting the following terms at J&S Ford in Jersey City, NJ:

    Ford Flex FWD Limited
    MSRP: 40,270
    Cap Price: 36,240
    All taxes, title, etc up front - can't remember the exact # but approx: $2200
    Trade-in: ~4,000 pending them seeing it in person but with the promise to adjust so the lease comes out at $400 a month.
    Monthly Payment: $400

    Good deal? I really want a midsize SUV with Navigation but lease deals aren't great on the normal manufacturers right now (Ford Flex, Toyota Highlander, Honda Pilot, VW Tiguan) with Navi & I keep feeling like I'm getting up to near Acura MDX or Lexus lease prices...

    Any additional ideas or other similar vehicle suggestions?
  • clark4clark4 Posts: 9
    My latest quote for:

    SEL FWD
    MSRP $36,720
    Cap Cost $31,917
    36 mo
    zero down
    36K miles
    $525/mo

    There is about $1700 up front including first month, acq fee and reg.
  • golicgolic Posts: 714
    Are you getting the Leases through Ford or are they 3rd party? Who is writing the leases??

    thanks-
  • Car Man,

    My wife is begging me to take her to lease her a new Flex tomorrow. Last day of advertised Employee Pricing. We have 2 months to go on present Pilot Lease so we are not pressed but dont want to give up potential big discounts offered thru EP. Two questions:
    1. Any rumors out there as to whether Ford will extend EP into February/March on Flex or not? and
    2. Live is North Jersey 07601 area and trying to find out interest and residual figures presently offered by Ford so I can calc lease numbers. Assume $15K/yr 36 month lease. Also, I see a $1000 rebate online also. Is that for leases and purchases?

    thanks,
  • Hi xdgelbertx. Ford did not extend its Employee Pricing offer for the month of February.

    Ford Credit's February base lease rate and residual value for a 36 month lease of a 2009 Flex Limited AWD or SEL AWD with 15,000 miles per year in your area are 1.0% and 48%, respectively. I believe that Ford is currently providing a $250 cash incentive on leases of this model in your area right now.

    Car_man
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  • With current Ford incentives, we just leased a Flex SE with Painted roof, Sync, and 6 Disk, and rear backup sensor system.

    $2000 down total
    39 months
    10,500 miles/year

    $410/month.

    We opted for the service plan as well, which includes all oil changes, brakes, hoses, etc...(usually that's normal maintenance that needs to be taken care of and is not paid for). That made our payment

    $429/month.

    The car is amazing!!! We love it!!!
  • I looked at leasing a Flex. Decided against it after working the numbers. It is actually cheaper to buy one. Financing $28,000 with ZERO down, your monthly payment is only $411. (1.9% for 72 months is the current special offer through Ford Credit). I think $28,000 is about invoice price on an SE FWD. You can get WAY WAY under invoice right now so that number would actually include sales tax. You also get $500 customer cash. Should've bought it, in my opinion anyway.
  • baggs32baggs32 Posts: 3,209
    Hi Carman,
    I was quoted $499 per month, after TTL, for 39 months/10500 miles per year on a 2009 Flex SEL with Sync, white roof, and rubber mats. Zero down (I'm guessing the first month's payment and security deposit are added into the lease payment in this case) and I have an X-Plan PIN which means I pay no fees either. I still have 3 payments left on my '06 Explorer lease and it is due to be turned in on 5/25/2009. Those 3 payments come to just about $1500 all together. I noticed on cars.com that the Flex currently has a $1500 lease loyalty incentive right now which I haven't seen mentioned here on Edmunds. Is that incentive really available and what exactly is it for? I'm guessing it was not factored into my quote and I'm wondering if I qualify for it and therefore allow me to turn the Explorer in early without any money out of my pocket?

    I'm a little fearful of waiting until late May or early June to lease a Flex because the lease deals may be long gone by then. If you have any insight into that, I'm all ears!

    Seems like there's a catch but I want to make sure. :)

    Thanks for your help.
  • Congratulations on getting your new Flex, satchriani. Thanks for taking the time to share the details of your lease with everyone. Real world examples like this are always helpful for others who are in the market. If you haven't yet, make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well. Enjoy your new ride!

    Car_man
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  • Hi baggs32. I believe that Ford Credit does usually have some sort of owner loyalty incentive for current lessees who lease or finance a new vehicle through Ford Credit. $1,500 sounds about right to me.

    If I personally was in your situation though, I would wait until my current lease was up to get something new. It would drive me nuts knowing that I paid $1,500 more than I should have for my new vehicle just because I wanted to get it a couple of months early.

    The only risk that you run in waiting is that Ford will be forced to pull the plug on its lease program, like General Motors and Chrysler had to. This is probably unlikely, but who knows what will happen in this economy.

    To be honest with you, $500 per month seems like a lot of money to lease a Ford Flex to me anyhow. Leasing just isn't what it used to be for domestic vehicles. The Flex is probably slightly bigger, but you could lease a fairly similar nice AWD Subaru for at least $100 per month less than that, if not $150/month less. That seems like a much better value to me.

    If I really wanted a Flex, I personally would be more inclined to finance it instead of lease it.

    Car_man
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  • baggs32baggs32 Posts: 3,209
    The only risk that you run in waiting is that Ford will be forced to pull the plug on its lease program, like General Motors and Chrysler had to. This is probably unlikely, but who knows what will happen in this economy.

    That is my only worry right now. Financing the same Flex would up the payment to over $600 per month for 5 years and that I don't like.

    To be honest with you, $500 per month seems like a lot of money to lease a Ford Flex to me anyhow.

    Remember that's with the first payment, security deposit, whatever other up front fees, and the 10% PA sales tax (calculated based on the monthly payment and added to it each month) all rolled in so I don't have to pay anything at signing. Just sign and drive. The actual monthly payment with tax would be more like $440 or $450 per month but I'd have to hand over about $1400 at signing. I'd rather roll it in and pay the low interest rate.



    I have to disagree. The Tribeca is a lot smaller inside and the front two seats make you feel like you're sitting in Mork from Ork's egg ship. The Subies do lease better these days but I'd rather pay a little more for a vehicle I like a LOT more.

    Thanks for the tips! I'm most likely going to wait but it's good to know that the loyalty incentive is valid just in case things change.
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