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Ford Taurus Lease Questions

kyfdxkyfdx Posts: 27,704
Ask your Taurus lease questions here

MODERATOR
Prices Paid, Lease Questions, SUVs

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Comments

  • blueyfishblueyfish Posts: 26
    Can someone post the lease rate and residual for a Taurus Limited for 36 months/12K per year? Ready to pull the trigger soon.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, blueyfish. Unfortunately, Ford's lease program for the Taurus varies by region (and Ford has a lot of regions). Its lease rate for the 2010 Taurus is anywhere from 2.5% to 5%. I would be happy to tell you exactly what lease rate is available in your area if you tell me what state you are in.

    For now I can tell you that Ford Credit's current 36 month, 12,000 mile per year residual value for the 2010 Taurus Limited is 47%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • blueyfishblueyfish Posts: 26
    Hi Car man,
    Thanks for your response. I live in Maryland.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, blueyfish. Ford Credit's April base lease rate for the 2010 Taurus is 4.0% in Maryland.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • kitmaxkitmax Posts: 5
    edited July 2010
    looking for best 24 month lease on 2011 sho (12K mi/yr) based upon following:
    Cook County IL
    excellent credit score
    0 down; 1st payment and tax upfront
    $44535 msrp
    $41326 Xplan
    was quoted:
    1.75 mf
    60%residual
    1. does $719/mo & 4219 (taxes & 1st payment) seem right?
    2. is Xplan good price for this model/year (possible to negotiate lower)?
    3. are there any Ford incentives that dealer has available (but may not have offered)
    Thanks.
  • delta737hdelta737h Posts: 603
    edited July 2010
    kitmax,

    For whatever it's worth, here are my comments...

    (1) The 1.75 FMC rate is actually an interest rate. Ford does not use money factors. Some people will divide this rate by 2400 to get an estimate of the money factor (i.e., 1.75/2400 = 0.000729) and, then, use the money factor formula...

    P = F x (C + R) + (C - R) / N

    P = payment
    F = money factor
    C = adjusted cap cost
    R = residual value
    N = Term (months)

    to get the payment. However, this only provides an estimate which, by the way, is very close to the actual payment. To be accurate, you need to use annuity equations or; if you have access to a TI83/84 calculator, you can use the TVM Solver in the finance app to solve for the payment. Or, you can use the appropriate financial function in the EXCEL spreadsheet to get an accurate payment

    (2) Regarding taxes, I agree with you. lL taxes in the amount of 3,500 (4,219 - 719) seems very high. Sales tax should be somewhere around 0.08 x 41,236 or about 3,300. However, there are other items that are subject to lL tax such as the FMC acquisition fee which I'm guessing is 595. Also, dealer doc fees are subject to tax as well. And, if you're financing negative equity from a trade, that may be taxable as well.

    (3) Hidden costs? Maybe. The best way to eliminate confusion and any misunderstanding is to ask the dealer for their LEASE WORKSHEET. This is a computer generated document that will tell you everytihng to want to know and, then, some. The beauty of this document is that it always tells the truth and will reveal any hidden charges. If you like, you can email this document to me at

    diffeq@zoominternet.net

    and I'll be happy to analyze it for you.

    (4-5) The Xplan price seems like a very competive price to me. You can go to overstock at zag.com and check out dealers offering the lowest selling prices in your area. Then, see how they compare to the Xplan. Also, check out Edmunds invoice pricing as well as any incentives that are being offered. From the invoice price, deduct ALL incentives including mfg to dealer and mfg to customer and see how that value compares to the Xplan price.

    Questions? Please let me know.

    John
  • kitmaxkitmax Posts: 5
    Would appreciate response from Car man / Forum Host:
    1. can you confirm mf and residual are correct?
    2. any other thoughts/ideas about my post?
    thanks.
  • kitmaxkitmax Posts: 5
    thanks delta 737h.
  • kitmaxkitmax Posts: 5
    Would appreciate response on #6 from Car man / Forum Host:
    Can you confirm mf and residual are best possible / correct?
    Any incentives to lower price?
    Dealer also won't show me worksheet.
    Thanks.
  • delta737hdelta737h Posts: 603
    edited July 2010
    For those interested...

    kitmax provides the following information...

    24 month lease on 2011 sho (12K mi/yr) based upon following:
    Cook County IL
    excellent credit score
    0 down; 1st payment and tax upfront
    $44535 msrp
    $41326 Xplan
    was quoted:
    1.75 mf
    60%residual
    1. does $719/mo & 4219 (taxes & 1st payment) seem right?
    2. is Xplan good price for this model/year (possible to negotiate lower)?
    3. are there any Ford incentives that dealer has available (but may not have offered)

    ============================================================

    Ford's lease rate is, indeed, 1.75%. It's an interest rate and not a money factor. IF the residual and payment are correct and the $41,326 Xplan price is the "sell price", then the adjusted captialized cost is $42,772.69 suggesting that $1,446.69 has been capitalized (financed) in the lease. Because kitmax is paying $4,219 [1st payment + IL Sales Tax (no cap reduction indicated)] at lease signing, the $1,446.69 must consist of the following...

    FMC Acquisition Fee........................ 595.00
    Doc fee/DMV Fees/Other Fees........ 851.69

    TOTAL.......................................... 1,446.69

    The bolded fees are of some concern (they're not itemized). And so, the best way to eliminate confusion and misunderstanding is to ask the dealer to provide their lease worksheet. If they don't provide it, you're not in control of the deal or not being forceful enough. There is absolutely no reason for any dealer not to provide this document.

    Also, the bet here is that this vehicle can be acquired for a few hundred dollars less than the indicated Xplan price of $41,326. And, as far as I know, there are no leasing incentives for the SHO at this time.

    John
  • Kirstie_HKirstie_H Posts: 10,824
    A reporter is hoping to talk with someone who is shopping for a new Taurus or recently bought one. If you care to share your story, please email your daytime contact information and your brief thoughts on the car to pr@edmunds.com no later than Friday, July 23, 2010.
    Thanks,
    Jeannine Fallon
    Corporate Communications
    Edmunds.com

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
    Share your vehicle reviews

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kitmax. The lease rate that you were quoted looks high to me. According to the latest information that I have seen, Ford Credit's current base lease rate for a 24 month lease of a 2011 Taurus SHO is only 0.75% for consumers who qualify for its top credit tier. The 60% residual value that you were quoted is right on the money.

    The X-Plan selling price is attractive. I doubt that you would be able to do much better than that on your own.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I am in FL - looking to lease a 2011 Limited FWD with 303A spec and moonroof and contour seats MSRP $37k...can someone tell me a good tell for 18,000 miles for 36 month lease thanks
  • I am in FL - looking to lease a 2011 Limited FWD with 303A spec and moonroof and contour seats MSRP $37k...can someone tell me a good price for 18,000 miles/year for 36 month lease thanks
  • CarMax-

    I live in NY & just got back from a Ford dealer & need to know if the following is a good deal:

    2011 Ford Taurus SEL MSRP- $31995 w/ 3700 mi

    down- $2300
    39mos/$405
    10,500 mi per yr

    w/ leather trim
  • Hi hillsave. The easiest way for me to evaluate this deal would be to look at this car's selling price in relation to its MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, it is much more difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate. Let us know and I'm sure that either myself or another knowledgeable community member will gladly tell you what they think.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • anaomanaom Posts: 2
    edited December 2010
    Hi There,

    Quick question before the end of the year. Going to try and leverage year end quotas.

    Looking to lease a Taurus AWD limited for 39 mo 12/year. Anyone know the money factor (lease rate) and residual for it? Oh A previous post made mention of location. I currently reside in Massachusetts.

    Thanks in advance.

    Also does anyone know if the year end 1500 cash towards payments apply to leases or only purchases?
  • ajpbf7ajpbf7 Posts: 63
    Hello Carman,

    Could you post the MF and residual for the 2011 Taurus FWD SEL for 24 months w/ 10.5k per yr? Any lease cash/dealer cash that you are aware off? I would appreciate it. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, ajpbf7. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2011 Taurus SEL FWD with 10,500 miles per year are 0.75% and 63%, respectively in most areas (the lease program does vary some by region).

    I don't believe that Ford is currently providing any cash incentives on leases of the 2011 Taurus SEL.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jayded6jayded6 Posts: 4
    Hi,
    Can someone please help with the lease rates on a 2011 Taurus SHO? Interest rate (money factor) and residuals for 36-39 mo, 15k miles per year? Thanks! Jay
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