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Ford Expedition Lease Questions

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi suvmom1. You never mentioned the selling price of the Expedition that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.

    Car_man
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  • ram87ram87 Posts: 1
    Thanks for all this great info. I'm a newbie to leasing and wish to lease an 07 Expedition Limited. I understand about negotiating the price of the vehicle just like purchasing. But what would be considered good factors for my area? I live in san jose ca and received a quote of $43,585(invoice price) for a purchase. I would like to lease this vehicle plus install options like bluetooth. Do the extra options get rolled into the lease? I'm looking at a 36 month 15k miles per year deal. Can I apply the $2000 cash back towards my upfront costs? Thanks a bunch
  • chrodchrod Posts: 3
    Please help I need to know the Residual rates on a 2007 Expedition for a 36 month lease and a 48 month lease. I live in California and want to buy this weekend. I also show a 2.0% lease rate for the 36 and a 4.2% for a 48 are these correct?
    Thanks for all your help!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome, ram87. 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.

    Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Expedition Limited 2WD with 15,000 miles per year are 2.0% and 44%, respectively. You should be able to fully residualize any factory-installed options and roll them into your lease payment. Dealer invoice is an excellent selling price for this truck, if you are able to have the $2,000 lease cash that is available on it subtracted from that before calculating your lease payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chrod. Here's the information that you are looking for. This truck's lease program varies by trim level, so for now I will assume that you are interested in the 2007 Expedition XLT 2WD. Let me know if you want a different version. Ford Credit's current base lease rate and residual value for a 36 month lease of an '07 Expedition XLT 2WD with 15,000 miles per year are 2.0% and 44%, respectively. The numbers for an otherwise identical 48 month lease are 4.25% and 36%. When negotiating your lease on this truck, make sure to take advantage of the $2,000 lease cash that is available on it.

    Car_man
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  • curtecurte Posts: 4
    I'm looking for the base lease rate and residual for 2007 Expedition XLT 2WD with leather, comfort, appearance, convenience packages and moonroof, manual 3rd row seat, premium radio and SAT radio (located in South Carolina)...I see above lots of info on a 36 month lease with 15,000...I'm interested in 24 month lease with 12,000 and 15,000 and also a 36 month lease with 12,000. MSRP is $36,850 - the dealer has offered an "invoice" price of $34,489 with $2,000 lease cash off of that and $4,000 off for my trade of a 99 Jeep GrCherokee
  • fletch58fletch58 Posts: 19
    I qualify for the X program. I got good number but want to gamble that Ford will up the rebate from 2K to 3K soon. I have a M35 lease that I can extend month to month so I have no urgency to pull the trigger until the numbers get where I want. Car Man or anyone else, if you follow Ford closely, I live in central Florida and within 50 miles along there msut be 250 of them. Any bets on what the rebate will do next month or the month after ?
  • sakpeg100sakpeg100 Posts: 1
    Hi, i am new to the boards but love all the information. I have gotten a quote on a EB explorer 2007, 39 months, 15,000 miles per year, no money down, first months payment upon pickup. Dealer said everything but navigation package. He said we are looking at 508.00 per month. Is this a good deal? Oh, we are in allentown, PA.

    thanks,

    Scott
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you are looking for, curte. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2007 Expedition XLT 2WD with 15,000 miles per year are 1.0% and 51%, respectively. The numbers for an otherwise identical 36 month lease are 2.5% and 44%, respectively. If you were to lease this truck with 12,000 miles per year, its residual values would be 2% higher. Dealer invoice minus all of the available cash incentives is a good price for a lease of this vehicle.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey fletch58. It looks like your gamble paid off. Right after you posted this Ford introduced $2,007 bonus cash on the 2007 Expedition. I believe that this incentive is available on top of the $2,000 lease cash that Ford is already providing on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome Scott. You never mentioned the selling price or MSRP of the Expedition 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.

    Car_man
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  • Car Man,
    I am trying to figure out what a lease package would be with the numbers listed below… I was thinking that since it is a 2007 that the selling price should be around $34,500 to $35,000 after rebate. Please let me know you thoughts and what the average lease price would be on the vehicle listed below. Base the lease package on 3 year / 36,000 miles...

    Thank you…Any help would be greatly appreciated

    2007 Ford Expedition Eddie Bauer 2WD
    MSRP $40,055
    INVOICE $38,138
    Rebate ($2007)

    Total $36,131.00
  • Shopping comparable full-size SUVs. Expedition Ltd w/DVD,Navi,Moonroof, Trailer package. MSRP $46,315. $1500 cap cost red., 10500 miles, 36 months - lowest dealer quote $583.48 including tax. Seems like a decent deal, if not out-of-line according to Edmunds TMV and lease calc. Anyone know dealer inputs (money factor/depreciation)?
  • hardhawkhardhawk Posts: 702
    The residual for a 36 month, 10,500 mile per year lease is 48% for a 4WD model and 47% for a RWD. Interest rate for 36 month lease is 2.5%. All this is per my dealer. Hope this helps.
  • antnecantnec Posts: 3
    hello Car Man

    thanks for all the info

    the car will be leased from either a
    NE Pa. NJ, NY or Ct. dealer

    2008 Expedition Limited EL 4x4
    MSRP 50,275
    24 month
    19,500
    no money down
    1,029 a month out the door (including tax and title etc)

    he didn't mention a security deposit

    he told me the Value would be 52% from 56% due to losing 1% for every 1,500 miles over 15,000
    vs a 2007 at 52% - 4% due to mileage and a 2,000 rebate

    the value is 52% of what ever I pay for it in this case it is rated on $50,275?
    Money factor was 1% if I divide this 1% by 2400 I get 0.0000041666666667 is this the correct number to use?

    Does the dealer get a holdback for a customer ordered car?
    This dealer is also a Certified Blue dealer.
    He also told me that he was sure that he will give the best price around. I don't know how much if he did take off, since I just wanted to get an idea of lease payments and I didn't even start neg. price.

    So just wondering if I'm using the numbers correctly
    52% of what and finding the money factor so I can plug those numbers in and do it myself

    thanks
    Anthony
    Bronx NY
  • jyoz1jyoz1 Posts: 6
    Carman: I saw in an early post (FLETCH58) that you had said that the Ford $2007 rebate cash may also be able to be added to the $2000 lease cashback, is this true? I was about to sign on the dotted line for a 2007 Tahoe, but GM does offer the $2000 rebate they advertise to people who lease the Tahoe. Needless to say not very happy about this, and it will be a dealbreaker. Please let me know if the offers can be combined. Thank you
  • jyoz1jyoz1 Posts: 6
    Sorry what I meant to say was that GM does NOT offer the $2000 rebate they advertise to people who lease the Tahoe.
  • hardhawkhardhawk Posts: 702
    I don't think the $2007 can be added to the $2000 lease cash on the Ford. The Ford web site shows the $2000 for leases and the $2007 for purchases.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mavericknole. Let's work up a lease payment on the truck that you are interested in and see what we come up with. I will use a selling price of $500 over invoice minus the $2,000 lease cash that is currently available on it. According to my calculations, if you were to lease a 2007 Ford Expedition Eddie Bauer 2WD that has an MSRP of $40,055 and a selling price of $36,638 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $542.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, Anthony. Wow, $1,000 per month is way too much money to pay to lease any Ford product. Heck, you can lease a BMW 7-Series for less than that. I personally would pass on this deal.

    I was just looking at '08 Expedition EL pricing and I was having a hard time finding one that would have an MSRP of $50,000. How is this truck equipped? Regardless of how it is equipped you need to find out what this truck's selling price is. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this truck's selling price is, it is difficult to tell how good a deal you are getting on it.

    Ford Credit's current base lease rate for a 24 month lease of a 2008 Ford Expedition EL Eddie Bauer AWD is only 1.0%. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. you can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • Car Man - long time reader, first time poster - I could use some specific help now, beyond all of the general help I've had in the past

    I've been back in forth on the '08 Tahoe and the '08 Expedition. The Expedition proposal that I am closest to right now is as such:

    The dealer's MSRP quote on the '08 Limited built out the way I want matches the Edmunds built out MSRP of $47,910. The dealer tells me that he is selling at invoice to me, which he quotes as $44,200. Even if I add in the $300 for the chrome grill they are putting into the Limited (you can't order it as an option from the factory and we don't like the body color grill) he is still a little north of the Edmunds invoice quote. So be it for now:

    Can you offer an opinion on the whole package:
    MSRP $47,910 (or $48,210 if you want to add the grill here)
    Invoice quote of $44,200
    12m miles/$634 a month/and a $2,500 check for whatever else (inceptions, cap cost, I don't think I care how they use it do I)

    The uncomfortable part is that he is telling me that the program can change by the time the truck gets delivered - say mid to late October. How does anyone sign on for that? I think I know my payments but then they change when I actually get it? He says the current program is a $500 rebate, 3.25%, and a 48% residual.

    I'll take anyone's advice - thumbs up or down? Many thanks.

    For what it's worth this is being done in Central/Northern New Jersey.
  • Hello Car Man
    To answer your questions in addition to every number the dealer gave me that is figured in the prices below. So here we go, thanks again

    2008 Ford Expedition 4x4 EL (600A order code)
    everything below is in the purchase price of $46,673.08 from the dealer's
    "VEHICLE ORDER CONFIRMATION" SHEET
    Skid Plate
    Daytime running lights
    Power moonroof
    rubber floor mats
    rearview camera
    trailer tow
    navigation
    chrome rack with cross bars
    power lift gate
    rear seat entertainment
    8 U.S. Gal gas charge $24.08
    FDAF assessment $578
    Dest and Deliver $900
    all for $46,173.08 plus $500 his commission = 46,673.08
    and an additional 25 gallons of gas (full tank on delivery is in this price)

    now he gave me a copy of the "Deal Worksheet" with the following numbers from his
    Lease Work sheet from Ford's dealer website

    FIRST COLUMN
    Lease Source - RCL
    Price -$46,740.00 ($66.92 more then his quote price)
    trade in amt - $0.00
    trade in payoff - $0.00
    cash down - $0.00 (no check mark in the box next to this number)
    Rebates -$500.00 (no check mark in the box next to this number)
    Lease Rate - 1
    Term -24
    payment per yr - 12
    next payment due
    MSRP - $50,420.00
    other - $0.00

    SECOND COLUMN
    Insurance -none
    credti life -none 0.00 (a check mark in check box)
    credit A/H -none 0.00 (a check mark in check box)
    ext. srv -none 395.00 (Red Carpet Lease wear care) (check mark in check box)
    ext. srv plan code- blank
    garage location
    Mileage Allowed -15,000 (.20 mile over 30,000 at the end of 24 months)
    mileage purchase - 0
    mileage cost -$0.15

    THIRD COLUMN
    residual % 56 - $28,235.20
    sales tax% 8.375 - $1,844.58 (check mark in check box)
    property tax - 0.00 (no check mark in box)
    luxyrt tax - 0.00 (no check mark in box)
    office fees - $57.50 (no check box available)
    title/reg - $45.00 (check mark in check box)
    license/lien - 0.00
    soft adds - 0.00
    ACQ Fee - $595.00 (what is this) (check mark in check box)
    security deposit - $0.00

    TWO BOXES DOWN AT THE BOTTOM SAID
    amount due at signing ------- monthly payment
    $1,40.09 ------- $903.09

    I would also get any additional rebates at the time the car
    was delivered if anything better was in affect at the time of delivery.
    which he was told by his rep that these cars are "FREE WHEELING", built in 4 weeks and up to 2 weeks to deliver. Not unless if ordering the power running boards the built time could be doubled.

    Also if he was to order this car he would need a $500 deposit
    that would be applied to the $1,403.09 so all I need at pick up is $903.09

    he also told me if I order this in silver and were to change my mind he would give the $500 deposit back, if I ordered any other color I would lose the deposit. so happens I like the silver car anyway.

    So is this a deal worth going for?
    Is this dealership giving me more info that usual?
    Is Ford strict when they evaluate the car at the end of the lease? The dealer said Ford wants you back so they are somewhat lenient. He wasn't pushing the Red lease care package. But Ieft it in for now.
    (I am planning on buying car seat covers with 4 car seats in the car)
    I noticed he used the Residual valvue against the MSRP price is the correct?
    Which number did he get the tax of $1,844.58 from?
    ACQ Fee do you know what that is for?
    Also I found strange is that he told me in writing .20 cents per mile over 30K at the end of 24 months and another dealer told me
    .25 cents a mile over $30,000 at the end of the 24 months. Who is correct?

    This is every piece of info that I have from the dealer, he gave me all print outs off the computer from Ford's dealership website.

    Hope I gave you all the info you need to determine if the $903 is good or not?
    Is this dealer on the level with everything he supplied?

    what would the payment be if I was to put 1,000 or 2,000 down?

    Thanks again
    Anthony
    bx, ny
  • CarMan,

    Aside from the residual differences between 2WD and 4WD models, does FMC have any other adjustments to the residual percentage based on vehicle features? My main question is if there are any residual deductions on XLT models with the front split-bench seat and/or no 3rd row seat? Also, what's residual bump for mileage lower than 10k vs 12k/yr? Is there an 8k option?

    Thanks!
  • Hi Car man, I'm looking to lease an Expedition in the Northeast. I have in mind an 4x4 XLT with a MSRP of $39,875.00. Hypothetically speaking if I can get the price to 34,500 including discounts, incentives and negotiations and lease for 39 months(& 39000miles) what can I expect the figures to be ? I'm coming up with a monthly payment of $463 (without doc fees and tags, etc) using a residual of 47%, money factor of .00104, 7% sales tax and a down payment of $1000. How far off am I with my figures ?

    Thank you
  • Hey Carman, I'm back. My lease of my '06 EB Explorer is up in Nov. and I am ready to move on. I am looking to go a little bigger as I am 6'2 and the explorer is not as big as I would like it to be. Soooo, that being said. I am looking at 2008 Expedition Limited 4x4 with 2 options only. Navigation and rear bucket seating. The total MSRP is $44.670 with a Dealer invoice of $41,106. I am looking to lease this with 10k miles a year allowance. Now my question is this. On my explorer, I only have 14k when my allowance was 21k. Can I use any of that towards the deal? Thank you for your time carman. This forum is great!
  • dylcondylcon Posts: 8
    Hi car man, I could use a little help here. I'm looking at leasing a 2008 Limited 4x2 and narowed it to 2:

    I'm looking at 36 months, with 10K miles per year...zero down.

    -MSRP $46,265. with final (x plan) selling price at $40,681.

    -2nd choice vehicle....same terms... MSRP $43,775 with selling price of $38,416.

    Would I save much by going out to 39 months?

    Thanks.
  • antnecantnec Posts: 3
    Car man

    when will you be able to answer post #83

    thanks
    anthony
  • Hi Anthony. The truck that you described probably has a spread of around $4,700 to $4,800 between its full MSRP and its dealer invoice price. In addition to this spread, Ford is currently providing $1,000 bonus cash and $500 lease cash ($1,500 total) on it. This gives you a total of over $6,000 to play with in your negotiations. If I was in the market for this truck, I personally would want a larger discount than the $3,600 that you were quoted. I would shoot for a discount of at least $5,000.

    The lease rate that you were quoted for this truck looks about right to me. Vehicles' residual values are always calculated as a percentage of their full MSRPs. The acquisition fee is OK as well. Ford Credit charges a $595 acquisition fee on every vehicle that it leases.

    I have never personally leased a vehicle through Ford Credit, but I have never seen anyone complain about them being unusually strict when evaluating vehicles for excess wear and teat at lease-end. I have found that most manufacturers' captive finance companies are very reasonable when evaluating the lease-end condition of vehicles. If I was leasing this truck, I personally would pass on any additional excess wear and tear coverage.

    Car_man
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  • does anyone know what the going lease rate for an 08 el limited loaded would be for 3 years 36000 miles with 4000 thousand up front .....
  • Hey rob052067. The options that a vehicle is equipped with have not impact upon Ford Credit's residual values. The only things that have affect the residual value are trim level and whether the truck that you want is 2WD or 4WD.

    I believe that 10,500 miles per year is Ford Credit's lowest mileage option.

    Car_man
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