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Ford Expedition Lease Questions

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  • Hi -
    i'm ready to lease a 2008 Eddie Bauer Expedition.
    Any idea what Ford Credit's current money factor is?
    How about the residual on the 2008? (x% of MSRP).
    assume 36 month lease.

    With options, the vehicle I'm looking at is about a $44000 (including destination).
    I'm just checking edmunds now, but invoice looks to be $39500.
  • wvgasguywvgasguy Posts: 1,405
    That's about the same vehicle I got ($43,800) a month ago, and the interest rate used for the money factor was 0.5% then. However I got a 24 month lease and the residual was 52% due to selecting the 19,500 mile per year option (which was a 3% difference than the 15,000 mile option). It was a lot cheaper to lease for 2 years and then buy than it was to just buy now at current interest rates. I liked the idea of being able to walk away in 2 years if they offer a diesel option or if gas prices are $5, or simply buying it at 52% of MSRP if I still want it.
  • You're very welcome, rob052067. Make sure to stop back and let us all know how everything turns out.

    Car_man
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  • Hi hoss5. It sounds like you have never leased before. If so, 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. These articles will fill you in on the basics. Let me know if you have any specific questions about leasing an Expedition that weren't covered in these articles.

    Car_man
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  • Hello davidr719. You absolutely should be able to negotiate a discount on top of the cash incentives that Ford is providing on the Expedition that you are interested in. The exact dealer discount that you are able to negotiate will vary by trim level, but I suspect that the truck that you want probably has another $2,000 or so to play with in its price. If I was in the market for this truck, I personally would shoot for $500 over dealer invoice minus the cash incentives from Ford.

    Car_man
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  • Greetings freddy533. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Expedition Eddie Bauer 4WD with 15,000 miles per year are 2.75% and 49%, respectively. As you can see, Ford Credit publishes lease rates instead of month factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    When negotiating your lease on this truck, make sure to take advantage of the $500 lease cash and $1,000 bonus cash ($1,500 total) that are currently available on it. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
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  • I am looking to lease a 2008 Expedition EL and wanted to know the current money factor, residual, and dealer incentives for 24 and 36 month leases. Any info would be greatly appreciated. Thanks!
  • You've come to the right place, warbern. I's be happy to help you out. You never mentioned the exact trim level of the truck that you are interested in, so for now I will assume that you want an '08 Expedition XLT EL 4WD. Let me know if you want something different. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2008 Ford Expedition XLT EL 4WD with 15,000 miles per year are 0.75% and 54%, respectively. The numbers for an otherwise identical 36 month lease are 3.0% and 48%. 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. When negotiating your lease on this truck, make sure to take the $2,000 lease cash that Ford is currently providing on it into account.

    Car_man
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  • Thanks so much for the info. I really appreciate it! I was actually looking at the Limited. Other than pricing, does that affect the lease numbers at all? Thanks again!!! Oops, almost forgot... what are the residuals for 10.5k and 12k miles a year? Thanks!!!
  • I am hoping to lease the 2008 Expedition Limited 4X4 for about $500/month, $0 down, 12,000 miles, 39 months. MSRP is $43,215, invoice is $39,396. Dealer holdbacks is about $1200. There is $2000 in rebates plus $1000 more for customers coming from a competitors lease, which I qualify for. Is this a possiblity for me? I live in Nassau County, NY. Please recommend a dealer.
  • philly70philly70 Posts: 6
    Anyone have the latest money/depreciation inputs for the Ford Expedition (EB or LTD) for 36 month leases?
  • philly70philly70 Posts: 6
    Looking to lease an Expedition EB 4WD MSRP $47,130, negotiated price $43,500. Any help with the current money factor and residual I can expect (Minnesota) currently would be appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi philly70. This truck's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so 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 Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Expedition Eddie Bauer 4WD with 15,000 miles per year are 2.5% and 45%, respectively.

    Car_man
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  • kevininnhkevininnh Posts: 1
    Over the past 6 years, I have driven Expeditoins that were leased by my company. The first was a 2002 Expedition EB on a 36-month/45kmi, and then a 2005 EB on the same 36/45k terms. I had done my homework on what the lease should have cost my company per month on this last lease, which was figured to be $512/mo (if I recall). When the company owner went in to finalize the deal, the payment was jacked up to around $599/mo using the sleezy tricks the leasing guys do. Anyway, my company is scaling down due to the economic slowdown & does not want to spend that kind of mony on leasing a new truck when the current lease is up next month. The buyout on the lease is about $1800 more than the bluebook of the truck.
    What is my best bet on leasing another Expedition when monthly payments are the biggest concern. My ending lease is about 7k miles under the limit, and vehicle was kepit in perfect shape. I want another Expedition EB with a 24 or 36mo lease. Any input would be greatly appreciated. Thanks.
  • sellgenssellgens Posts: 1
    I am looking for a 24 or 36 month lease on a 2008 Expedition XLT (4x4, black exterior, black leather interior, sun roof) with $0 out of pocket (sign & drive) with yes 25k per year. What is the maximum monthly payment I should expect? I currently lease an '05 Mercury Mountaineer with the mileage - my lease is up 7/24/08, but I am willing to get into a new vehicle immediately. I do alot of driving and will put this mileage on the vehicle.
  • nckracernckracer Posts: 7
    I have a 2007 EL EB. The sticker priced out at 52K. I ran it under X-Plan with a returning customer rebate and got it down to 46K. Wrote up a 2 yr lease with 40K miles and it came to $890 per mo. with nothing down.
  • With the brutal interest rates and cliff drop depreciation on 07's and 08's, why would you lease? Even after taxes, etc., you can get a great value right now on a practically new Expedition.
    The companies that used to buy batches of leases are no longer touching American and many other cars- the value prop of a lease has fallen into the toilet since about August.
  • wvgasguywvgasguy Posts: 1,405
    Got my Expedition last November on a 2 year lease. Was excited with the deal and love the vehicle. What I liked was residual of about $23,500 at the end of the two years and was thinking WOW, what a deal that would be. I planned to purchase it. However with the huge drop in values and a year to go my 08 is already at a $22.7 trade / $25.9K private party value. I looked up the price on an 07 figuring that's what my 08 would be worth in a year and the trade is $17.3K and $20.5K private party value. It's looking like while keeping my ride in really good condition and having it as an excellent used vehicle buying opportunity is not going to pay off as the price I'll have to pay will be $3K to $4K over ppv and a whopping $6K over what I could get for it in a trade.

    Looks more and more like a walk away deal every day. Have any of you been able to deal with Ford Credit/Leasing to purchase at a price below residual?
  • jim53jim53 Posts: 109
    Does anyone know the current Money Factor and Residual for an Expedition EL at 36-39 months with 12K miles per year?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey jim53. Like the Chevrolet Suburban that I believe you expressed interest in as well, there is not currently any lease support available on the 2010 Ford Expedition. As a result, it is not a good vehicle to lease right now either.

    Car_man
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