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Ford Escape Lease Questions

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  • Hey gowick. Here's the information that you're looking for. This truck's lease program varies by trim level. For now I will assume that you are interested in an '08 Escape XLT 4WD. 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 2008 Ford Escape XLT 4WD with 12,000 miles per year are 3.50% and 54%, respectively. The numbers for an otherwise identical 39 month lease are 3.75% and 52%. When negotiating your lease on this truck, make sure to take advantage of the $1,000 bonus cash that Ford is currently providing on it.

    Car_man
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  • Follow up, I too am interested in a 36 mo lease 12k/yr miles. My employer has an arrangement with Ford- some kinda no haggle best price and still eligible for all incentives offered by Ford. Long story short I went through the company linked website and got $16,500 after all rebates, cash incentives etc... on the totally stripped 2008 2WD/ MT model. Was wondering if you could tell me what I'd look at for payments (no tax in NH). Don't want to put much if anything down.

    Thanks
  • Hi apprehensive. I would be happy to work up a lease payment on the Escape that you are interested in for you. However, in order for me to do so I need you to provide me with its full MSRP in addition to the selling price that you have already mentioned.

    Car_man
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  • dianna6dianna6 Posts: 1
    Hi,
    I live in St. Louis and bought a 2008. Escape Hybrid a few months ago. I thought I was ready to scale down from an Expedition, but I've been frustrated, at times, when I can't carpool a load of kids or fill the cargo area with the extreme amount of equipment needed for my last 2 kids' softball tournaments. I feel like I made an error in downsizing too soon. It's with much regret that I'm thinking about selling this beautiful vehicle and buy something with 3 rows and more cargo room. My Escape is 2 wheel, loaded all the way, Leather, Nav, Satellite Radio, Heated seats, Sunroof, you name it. The color is black slate metallic - not really black, sometimes hints of the darkest blue, other times the darkest of green, I guess depending on the type of sunlight or lack of, but very cool, everybody comments about it. I know your posting is old, but I highly recommend this vehicle. I also live in the St. Louis area and the 2008 Escape Hybrid was hard to find. They had to ship it from out of town. Love the vehicle, 33mpg, Nice ride.
  • haftownhaftown Posts: 1
    $229 a month lease for 12,000 miles a year, 36 months, no money down for a basic XLS.

    Is this decent lease pricing or should I be able to get it down farther. It is some kind of sign and drive/red carpet event. I am new to leases. I appreciate the help!

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings haftown. Since you are new to leasing, it would be in your best interest to understand exactly how it works before you visit any dealers so you do not get taken advantage of. Make sure to check out the following informative articles that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its base lease rate. Ford Credit's current base lease rate on the 2008 Edge is 3.25%.

    Car_man
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  • Can anyone tell me the current lease rates and residuals for both the 2008 Escape XLT 4WD V6 and the 2008 Escape XLT Limited V6. I feel I am currently being jerked around my the dealership I am working with.

    Thanks!
  • I was told the 24m lease had 54% residual and 1% rate.
    For the 36m lease the residual dropped to 48% and rate up to 4.25%.

    Auto co's have gotten killed on leases in the last 2 years so residuals
    are plunging and most co's very hesitant to price aggresively beyond
    24 months. Not the best time to lease. I think the better deal is to get a
    big discount off msrp and then also try to get a low rate and finance over
    5 years.
  • The only problem with your theory is
    (a) getting the "big" discount off MSRP
    (b) getting a "low" rate
    (c) getting your money back on your investment

    Car companies aren't giving away cars anymore. Times are tight. Interest rates on traditional loans have gone up just as much as lease rates. The thing you have to remember is when you buy a car in most states you have to pay sales tax on the sale price up front. So if you buy a car that is $20,000 and your tax rate is 7%, you now have to crap out $21,400. Then when you are sick of the car in 3 years, you have to trade it off to a dealer who doesn't want your car. They barely give you trade-in value which is way less than they end up selling it for later on. So in the long run you are probably out at least the $1,400 sales tax plus around $3,000 you got dinked on your trade-in value.

    If you think leases have gone up $4,400 on a 36 month term you aren't seeing things the way I do. You just have to be smart and recognize the better lease deals from the horrible ones. Still, leasing is normally way smarter financially than buying a brand new car.
  • I generaly agree on your lease logic. However, the leasing deals are not like they used to be with declining residuals and many dealers are offering 4k to 7k off msrp for purchases. So financing at that price and keeping the car for the long term is a ok strategy. Also in Illinois where I live you have to pay the full msrp sales tax up front on lease deals, not just the price for time of lease. Then if you decide to purchase you have to pay the sales tax again.

    But, yes if you want a new car every 3 years then leasing is the way to go, but not in states that tax the full vehicle price.
  • Yeah, you didn't mention that you lived in Illinois before. I totally 100% agree with you now. NOTE TO EVERYONE: If you live in Illinois do not lease a car. They have some of the most bassackward lease terms in the entire U.S.

    Also you are correct about the purchase option at the end of the lease. If anyone ever does this they are mentally ill. Paying sales tax AGAIN on a vehicle that you have ALREADY BEEN PAYING sales tax on is absolutely ridiculous. It's what I like to call leasing double jeopardy.
  • Not much posted here lately, anyone have the current lease rates and residuals for XLT and Limited Escapes, V6, 12K miles, 24/36/39 months?

    Employee pricing has some nice deals, hopefully the lease prices are just as good!
  • Hi denlem. Ford's lease program varies by region. You never mentioned what state you are in, so for now I will provide you with info on a middle of the road program. If you tell me where you are I can be more specific.

    Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 Escape XLT 4WD with 12,000 miles per year are 4.5% and 51%, respectively. The numbers for an otherwise identical 39 month lease are 4.75% and 49%. The lease rates for the 2009 Escape Limited 4WD are the same, but its residual values are 52% and 50%. Ford is not currently providing support on 2-year leases.

    Car_man
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  • svofan2svofan2 Posts: 440
    Carman(host) could you please provide me with lease rates for an Escape Limited 2009,,,I am planning on putting $3k in (this will include taxes and registration), 36 or 39 months lease,12k a year, includeing gap insurance....I am in NJ...
    Thanks for your help.

    Ralph L.
  • Hi Ralph. Here's the information that you are looking for. Ford's lease program for this model varies by region. You never mentioned what state you are in, so for now I will provide you with info on what I believe to be the most widely-available program. If you tell me exactly where you are, I can be more specific.

    Through today, January 5th, Ford Credit's base lease rate and residual value for a 36 month lease of a 2009 Ford Escape Limited AWD with 12,000 miles per year are 4.5% and 52%, respectively. The numbers for an otherwise identical 39 month lease are 4.75% and 50%.

    Keep in mind that Ford is scheduled to introduce a new lease program tomorrow. Please feel free to check back with me then and I will be happy to fill you in on the details.

    Car_man
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  • Hi Car_man. I am looking at leasing a 2009 Escape XLT w/ sun & sync and 17" chrome wheel in the Detroit, MI area. I have access to Ford Z-plan pricing. Lease terms are 36-month, 10500 miles with $0.00 down (just title and tax actual due is $488.71), 4.5% with 52% residual. I am told the A/Z plan price is $23,444.64. This would make my monthly payment $337.72. Is this reasonalble? The dealer also mentioned that Ford Credit is ending leasing Escapes on Tues 1/13/09?!? That sounded like a bit of a "hurry and get it now" method of sales. I am also looking at leasing a Fusion at the same time, so the salesman gets two cars (I will post my questions in the Fusion Forum). Thank you in advance for the help!

    Alexski
  • Could you update these lease rates? I'm in the market for an Escape for the wife, and these would come in handy. Thanks.
  • Hi Alexski. Ford extended its December incentives, and in turn its December lease program, through January 13th. It just published its new January program a couple of days ago. It actually is fairly similar to its December program, with one major exception. Ford pulled the plug on all of its lease support, except for on the Edge, Flex, and Fusion. I guess that this move isn't completely surprising, considering the fact that General Motors and Chrysler pulled the plug on their lease programs months ago.

    There's no more lease support on the Escape. If you really want to lease one right now, you will likely have to do so through an independent bank...if one is willing to lease this truck. If you really want an Escape, you will likely be better off financing it or paying cash for it. If you are completely set on leasing, you probably should go with a different model.

    Car_man
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  • Hi madox23. Ford is not currently providing lease support on the Escape. Please see my previous post for more details.

    Car_man
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  • My brother in law lost his job and can't pay his lease. He is going to go back to school so a high paying job is not in the near future. He obviously does not want to ruin his credit history but can't pay his $350 a month lease anymore. He has 10 months remaining. The vehicle appraised over $3k under the FMV.
    Does he have any options besides trying to get someone to lease or buy it? Does anyone think Ford Motor Credit would work with him or accept like a $1K (or less) payment and let him out?
    Lots of questions for him but he does not have internet at home anymore.
  • so my wife and i are expecting our 1st child mid-sept, and are only interested in a relatively basic crossover/suv for as little down / monthly as possible.

    i've read in another post something like "a $28,000 nissan may lease for $450 /month while a $28,000 honda may lease for $350 / month, some lease better than others"...

    with that, can i get some opinions about the best deals out there? which crossovers/ suv's "lease best"?

    we've looked at the:

    vw tiguan (overpriced, quoted $393/month / 36 mos, 0 down, base s model)

    nissan rogue (quoted $330/month/ 36 mos, ttl down, base SLmodel (cloth, no premium, but awd - we also have nissan loyalty and friends/family)

    considering the ford escape, but no american mfg's seem to be leasing atm...

    also, my current lease is up end of june - which is end of dealer quarter - is it better to wait till then to negotiate?
  • tottytotty Posts: 1
    Can anyone provide me with New Jersey lease data (residual, MF, lease cost, acquisiton fee) on an 09 Escape XLS FWD? Also, do Ford leases include GAP insurance? Is there a damage waiver? Thanks very much.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi totty. Unfortunately, Ford has cut way back on its lease support over the past year. It is no only providing lease support on a small number of vehicles and the Escape is not one of them. As a result, it would be very expensive to lease an Escape through Ford Credit right now.

    If you really want to get an Escape XLE, you would be better off financing it through Ford Credit at 0% for up to 5 years or 1.9% for 6 years. You could also pay cash for this truck or finance it through an independent bank and take advantage of the $2,500 cash incentive that is currently available on it.

    Car_man
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  • mlt245mlt245 Posts: 1
    My current Mercury Mariner lease is in it's last 2 months. I had assumed I would just lease a new Escape/Mariner for a similar price, needless to say I was shocked when told how high the lease costs are right now. Are there any rumors that there will be more attractive lease deals on either of these cars over the next 2 months. Are there differences depending on state (New York, New Jersey, Pennsylvania)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mlt245. Unfortunately, the attractive leases that were available several years ago in many cases are no longer available today. General Motors and Chrysler have completely stopped leasing and Ford has cut way back.

    Ford is not currently providing any lease support on the 2009 Escape. If you really want one, you would be better off financing it through Ford Credit at 0% for 5 years.

    Car_man
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  • neneemanneneeman Posts: 2
    Hi Car_man,

    I'm in California but I recently visited NY, where I saw Ford Escape Lease Deals advertised. Is Ford now leasing the Escape - and in California? And, if so, what is the going lease data? Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi neneeman. Ford still is not leasing Escapes through Ford Credit. The advertisement that you saw must have been a dealer-specific ad containing information on a lease being run through an independent bank.

    Car_man
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  • neneemanneneeman Posts: 2
    Hi Car_man. Thanks. I was able to get a local dealer to offer me a lease through an independent bank with a cap cost below invoice. But, it came with a money factor of .00324 and residual of .42 for a 3yr - 12,000 miles - XLT. This seemed ridiculous. Is the dealer just baking profit into those numbers? Or, do you think that it is likely these are credible figures? I'm wondering if I can try to find a different bank (my credit score is 790), and if so, how do I do that? Thank you!
  • kyfdxkyfdx Posts: 31,090
    You can try leasecompare.com... though, I doubt their banks have any numbers better than that.. Dealers have the same access to independent banks that they do.

    When you lease through an independent bank, the only incentives have to come through the manufacturer, in the form of rebates or cap cost reductions.. The independent bank can only make money on the financing, itself.. and, they have the additional risk of the vehicle not being worth the residual.

    I'd guess 42% is fairly generous for the real-world resale value of an Escape after 36 months.. and, 7.8% sounds about right for an interest rate, with nothing down and the residual risk involved.

    regards,
    kyfdx
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi neneeman. A lease rate of .00324 is high compared to the special lease rates that Ford Credit is offering on a number of other Ford division vehicles, however it is equivalent to an interest rate of around only 7.8%. That's about what I would expect the rate to be on an unsupported lease right now. I don't think that the 42% residual value is that unrealistic either.

    These numbers aren't all that out of whack, it just really doesn't pay to lease unsupported vehicles in most instances. If I was interested in getting a 2009 Ford Escape, I would much rather finance it through Ford Credit at 0% for 60 months than lease it.

    Car_man
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