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Ford Expedition Lease Questions

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  • 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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