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Ford Expedition Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Ford Expedition. Thanks.

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  • Great timing to start this forum. I hope someone can clarify the following for me. I got 2 lease quotes from different dealers on a 2006 Ford Expedition Eddie Bauer. Basically the same car was used to provide the quote - give or take a few hundred dollars. Dealers appeared to use the same cap cost (at invoice). But the monthly payments came out $100 different per month. With around $1000 to start after rebates, the payment from one dealer was $520 and from the other around $650. Both dealers spoke of a $3000 rebate but one also mentioned a much lower APR of 3.75% than the other (I understand Ford does not call it a money factor). I would like to patronize the local dealer which has the higher payment but can't justify the difference. I assume one of the dealers must be wrong. Please help. I was also told that Ford dealers are not allowed to bump up the money factor so that explanation does not work. Thanks in advance.
  • Hi autobroker. I thought that Ford Credit does allow its dealers to mark up lease rates a couple of points, but I could be mistaken. If no mark-up is involved then then only possible answer that I can think of is that one dealer is making a mistake. Ford's lease program for the Expedition just changed on September 7th when it made it so this truck is no longer eligible for its Employee Pricing program. Perhaps one of the dealers that you are working with is mistakenly using the old lease program.

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  • I've moved to a snowy region and would like to switch out of my 03 2 wheeler Expedition to a 4 wheel drive 06. I'd consider a lease if it made sense. Does any one know what Ford is offering in the way of residuals and money factors? Also, the $4000 cash back they are offering may be only for a purchase--does anyone know if that can be aplied to a lease? Any info would be great. Thanks.
  • Boo for snow, goscfighton :D. I'd be happy to give you an idea of what this truck's lease program is like right now. I just need you to tell me the exact model that you want, i.e. an Expedition XLS 4WD, Eddie Bauer 4WD, etc..., as well as how long you want to lease it for and how many miles per year you need to be able to drive it. $3,500 of the $4,000 customer cash that is available on this truck right now can be used to reduce the capitalized cost of leasing one through Ford Credit.

    Car_man
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  • A Limited would be nice with tow package, side canopy, and power folding 3rd seat. I can't remember the other options, but those are the top ones. I am fine with a bench second seat (not the captains chairs). Prefer 36 months w/ 15,000 per year. I can use an X plan, but might not need to with some of the prices out there. If you know the XPlan rate for this model, that would be a good place to start. Thank you.
    Also, is it worth trying to sell a 2wd in Colorado or should I trade it and let them ship it out of state?
  • Carman, Any info on the above message? Thanks.
  • Hey Carman, When you get back, I'm still interested in this info. Not trying to nag, but thought a more current post will show that I'm still looking. Thanks.
  • So car man I can use the 3500 out of the 4000 as a down payment?
  • Hi goscfighton. I unfortunately do not know the what the X-Plan price for this truck is. If you provide me with an approximate selling price and the full MSRP of the truck that you are interested in, exactly as you want it equipped, I will be happy to estimate what sort of lease payment it will have right now.

    As far as your trade goes, I suspect that there isn't much demand for 2WD trucks in Colorado. You are probably going to take quite a hit on your current vehicle, regardless of whether you trade it in or try to sell it on your own.

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  • Absolutely crookster. You should use the $3,500 cash incentive that I mentioned earlier to reduce your truck's capitalized cost. This is essentially the same thing as making a down payment only it doesn't come out of your pocket.

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  • Carman, Thanks for the reply.

    The X-plan price is usualy a few hundred over invoice. I think I can also get the 3,500 incentive. I would think that would be a pretty good price for a lease. I'm not sure if they have any incentive. I can run a lease calculator with leaseguide.com if anyone knows the percentages for 36 months and 15,000 miles. Also the MF would help.

    Thanks
  • I forgot to mention that the trim would be either Eddie Bauer or Limited and 4X4. The numbers on those vehicles would be greatly appreciated.
  • What about the Navigator they are having 4500 cash back, do you know if you can use some of it as a cap cost reduction?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, goscfighton. If you were to lease a 2006 Ford Expedition Limited 4WD through Ford Credit right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.25% and 42%, respectively. The lease rate for an '06 Expedition Eddie Bauer Limited 4WD would be the same, but the residual for this term / mileage allowance would be 43%. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. For March, Ford is providing $2,500 lease cash on this truck in most areas. In addition to this cash, Ford is running a program called "Perfect Match" through which it will match consumers' down payments on deals through Ford Credit. I don't believe that you have to pull $1,000 out of your own pocket to qualify for this incentive though. Supposedly you can use $1,000 of the lease cash to get the matching $1,000.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi crookster. This would be a better question for the Lincoln Navigator lease discussion. Here is a link to it for your convenience: "Lincoln Navigator: Lease Questions".

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  • I had a deal worked out for an Eddier Bauer Expedition last month. My company took too long to approve the lease, now I asm being told that the same lease will cost $100 per month more! Here was the deal:
    36 months, 15,000 miles, $1000 down (first month and inception fees). Monthly payment of $456. 2 WD version. Lease is in Florida. Can you let me know if the deals have gotten that much worse? I was thinking that the deals would get better with the 2007's coming out soon!
  • ljctxljctx Posts: 14
    I am interested in an 07 Expedition EB 4x2 with Conv. pkg, Rear entertainment sys, climate control seats. MSRP is ~ 39k$ and dlr inv ~ 36k$. My wife drives it about 6k miles/yr. :)
    What can I expect from dealers and independents like Autoflex on a 3yr lease? What are the lease rates % and residuals? I am in TX so I have to include full sales tax in the lease payment Assume no trade. Please give me some advise.
  • I am wondering the EXACT same question (though I am not in Texas). I have NO CLUE about lease programs, but I do know that if I am not somewhat informaed they will "see me coming!!" I too am looking for the 2007 4X2 eddie bauer and would also need the 12k a year for a 36 month lease. Any advice would be GREATLY appreciated!!
  • Does anyone know what the residual value and money factors are going to be on the 2007 Expeditions(2 year leases-10,000 miles). Any differences on XLT vs. Limited Editions for lease programs? Thanks in advance for your help.
  • Greetings car_help_pls. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I haven't seen the Expedition's Texas lease program recently, but I may have seen if for your area. What state are you in?

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  • Hi ckidder. Ford's lease program for the Expedition varies by region. I need to know what state you are in to give you an accurate idea of what its current program for this model is like in your area.

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  • I live in Tampa, Florida. Looking for residuals & money factors for 2007 Expedition Limited. Mileage based on 10,000 per year for 24 months & 36 months. Are there any differences between the residuals & money factors for a XLT, Eddie Bauer or Limited? Thanks for the help.
  • I am in Arizona......I wasn't aware that they had different lease programs in different states. Does that effect the money factor?
  • Here's the information that you are looking for, ckidder. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2007 Expedition Limited 2WD with 10,500 miles (this is the lowest allowance that Ford Credit publishes residual values for) per year in your area should be 1.0% and 59%, respectively. The numbers for an otherwise identical 36 month lease should be 2.25% and 51%. This truck's lease rates should be the same for the other trim levels that you mentioned, but its residual values may be different.

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  • Hi car_help_pls. Yes, the lease rates of vehicles that are leased through Ford Credit often vary by region. I have not seen its specific lease program for Arizona, but I suspect that it is similar to, if not exactly the same as the program that I described in my previous post.

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  • macdadmacdad Posts: 65
    Is it still possible to lease a 2006 Eddie Bauer Expedition. With the huge gap between MSRP and negotiated purchase price, it would seem a good monthly would be possible. What is the current residual/money factor(or interest rate) for 24 mo / 12k miles or 36 mo / 12k miles on an '06. I used your Edmunds forum to lease a 5 series BMW and it worked perfectly but it looks looks like Ford uses an interest rate instead of a money factor. Would I plug in their interest rate in place of the money factor to do my calculations. I live in Florida.

    Thank you,

    Macdad
  • Hi Macdad. Unfortunately, the answer to your question is no. Ford Credit is no longer leasing 2006 models. You might still be able to lease a 2006 Expedition through an independent bank, but if you really want to lease you probably would be better off just leasing a 2007 model.

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  • chow3chow3 Posts: 37
    Car Man- The wife's Honda Minivan lease is up at the end of the year She is interested in a 7-8 passenger SUV. What do the lease terms look like on the expedition for November? I am in South Florida if that matters
  • Car man,

    Thanks for providing such excellent information for us consumers. I'm looking for the November lease rates and residual values on the 07 expedition eddie bauer on a 36 or 39 month lease program in New York. Thanks!
  • Hi chow3. You never mentioned how long you want to lease this truck for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. You never mentioned the exact model Expedition that you want either, so I will also have to make an assumption about this too. Let's say that you want a 2WD XLT model. 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 2007 Expedition XLT 2WD with 15,000 miles per year in your area are 2.25% and 47%, respectively.

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