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Ford Escape Lease Questions

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  • shouchienshouchien Posts: 1
    Hi CarMan
    I am very interested in leasing an escape, and have contact several dealers in my area. I got a quote of 07 XLT Sport (MSRP: $27055) for 39 mo 12K miles. They asked for $425 a month. and I have been told the residual is 46% with 1.75% rate, and the monthly payment is set by ford that they can not change it. I know they try to rip me off. What is the current rate/residual for a ford escape? thanks. 36 mo with 12K miles per year. Could you provide for both 07 XLT and XLT Sport?
  • elms3elms3 Posts: 1
    hi, i just leased an escape, 2008 6v, xlt cloth, sun&satellite, cargo pkg, convenience pkg for 36 mo no money down $320/mo including tax. Worked really hard to get price:) residual was 53% and 1.75 rate.
  • nkconkco Posts: 1
    Hi Car_Man,
    I'm looking to lease a 2008 Escape Hybrid 4WD for 36 month and 12000 miles a year in Denver, CO. I'm ok with a base model, but I would like the sun roof and upgraded stereo. I know there is bonus back right now ($545?) and also I'm a grad student so I should get another $500 bonus back. What kind of residual and money factor (or rate) can I expect from Ford right now? I want to make sure I know how much they're trying to rip me off when I go in to look. Thanks for your help!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    It sounds like you got a great deal, ron1958. Enjoy your new truck :D .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi shouchien. What you were told about this truck's lease payment being set by Ford is not true. Its lease program is set by Ford, but not its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is important that you negotiate as low a selling price as possible on the Escape that you want before having the dealer calculate its lease payment.

    I believe that Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Escape XLT 4WD with 12,000 miles per year are 1.25% and 46%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nkco. I am sorry to say that I believe Ford pulled the plug on the $545 bonus cash that is was providing on the 2008 Escape Hybrid. It is now only available on the non-Hybrid model. This truck's lease program varies by term and mileage allowance. 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's current base lease rate and residual value for a 36 month lease of an '08 Escape Hybrid 4WD with 15,000 miles per year are 6.5% and 52%, respectively.

    Car_man
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  • rs1807rs1807 Posts: 8
    "The 2008 Ford Escape delivers as much as an 11-point improvement in 36-month residual value over the 2007 model and now outperforms several key competitors."

    Car_man, We are also looking at a Ford Escape Hybrid. Is the above statement, that was in Ford's 2008 Escape Press release, true? At 52% it seems there was actually little or no improvement in 2008 residual values.
  • rwbuckrwbuck Posts: 1
    Our local dealer has a lease on a 2008 Escape 6 Cyl, AWD, XLT. $265/month for 39 months with only $1,695 down. This payment is prior to any taxes and is only valid on the Escape AWD XLT with the Sun/Satellite Package. I believe this is a national offering. Is it a good deal? .... and can it be negotiated? Thnaks.
  • ron1958ron1958 Posts: 9
    rwbuck

    That seems to be a very good price - it would equal about $308 with zero down. I paid $292 for a base XLT w/ sun and satellite, 12k miles, nothing down but taxes and first payment.

    The price quoted is probably for 10k miles per year, for the 12k mileage your payment would be about $10-15 per month higher.

    I don't think you could negotiate much on this price, it is obviously below dealer invioce by a good margin.

    -Ron
  • bnix82bnix82 Posts: 1
    We are looking for a 2007 XLS or XLT. They are getting harder to find, so I may not have a choice. We are located in Idaho but may have to go into Washington if that makes any difference.

    Could you please provide me with the residuals and money factors for these trim levels for 36 months and 12k or 15k miles per year? Thank you in advance.
  • tjaisvtjaisv Posts: 1
    Want to lease a 2008 Ford Escape XLS 2WD-4cyl. Interested in a 36month 15K lease term. Would like to know this vehicle's Ford Credit lease rate and residual value, as well as info on applicable dealer signing fees and available customer cashback incentives/rebates. And is it best to negotiate via email/phone with the dealer, or go in person? Thanks!
  • aephemeaepheme Posts: 48
    Heard back from the Ford dealer today:

    4WD Escape 24mos/12k
    $500 rebate
    APR of 0.75%
    Residual of 62%

    4WD Mariner is exactly the same EXCEPT:
    Residual of 63%

    Interesting that it has that extra +1%.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rs1807. Ford Credit's 36 month, 15,000 mile per year residual value for the 2008 Escape XLT 4WD is 52%. This compares to 43% for an otherwise identical lease of a 2007 model, which is a solid 9% improvement...but not quite the 11% that you mentioned. The Edge's residuals vary by trim level though so the spread might be different for other versions of this truck.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings rwbuck. You never mentioned the selling price or MSRP of the Edge that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    For now I can tell you that manufacturers' advertised lease payments usually leave a little meat on the bone so to speak. I would not be surprised if you were able to negotiate a more attractive selling price on the Edge that you are interested in than the one that was used to arrive at the advertised payment. If you are able to do this, the monthly payment would drop a little.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi bnix82. Unfortunately, as of July 10th Ford is no longer providing lease support on the 2007 Escape. If you really want to lease an Escape, you will probably have to go with a 2008 model. You can always finance the Escape that you are interested in at 0% for 5 years if you are set on going with an '07 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, tjaisv. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Escape XLS 2WD with 15,000 miles per year are 1.75% and 46%, respectively. I don't believe that Ford is providing any cash incentives on leases of this truck right now. If you were to lease one, at signing you would have to pay your first month's payment, Ford Credit's $595 acquisition fee, a security deposit equivalent to your monthly payment rounded up to the nearest $25 increment, and any required state taxes or fees.

    As far as how to negotiate with dealers goes, I personally don't think that it matters if you do so via e-mail, the phone, or in person. Dealers always prefer that consumers physically visit them because they feel as though they have a much better chance of sealing the deal with a person who is actually in the showroom. Regardless of which method you choose, negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using the aforementioned lease rate.

    Car_man
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  • Hi Car man,

    I noticed the last post on this topic dates back a few months. I am in the market for the above car and I'm wondering about the lease rate (money factor) and the residual value on this SUV for 24 & 36 months. Please shed some light so I can be enlightened when I head to the dealer. Thanks.
  • wilddwildd Posts: 1
    Hi, Car_man!

    I am new to leasing program. So I have few questions.

    1). Can I lease a car in one state NY and transfer it over to California?

    2). As soon as I get a car, I would need to drive to California, If I am going to lease can dealers add extra let's say 3000 miles to the yearly mileage. Can they do that?

    3). Do you think it's better to lease in the state where I am moving to or it doesn't really matter?

    Thank you so much....
    - D.
  • kyfdxkyfdx Posts: 27,704
    In NY, you pay tax upfront... In California, you pay on the monthly payment..

    If you buy in NY, then immediately move to California, you will effectively be paying the sales tax twice. In this example, you definitely want to wait to lease a car in the state you are moving to.

    regards,
    kyfdx

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    Prices Paid, Lease Questions, SUVs

  • gowickgowick Posts: 3
    Hey all....

    Can you help me with lease rates and residuals, and perhaps leasing cash, on 2008 Escape.

    Looking at 36-39 months I would guess and 12,000 per year.
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