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Ford Explorer Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,518
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Ford Explorer. Thanks.

Car_man
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  • al330ial330i Posts: 8
    Can you please provide the money factor and residuals for a 2006 Ford Explorer XLT and Eddie Bauer models. I would lease for 36 months. Please provide residuals for 15k, 12k, and 10.5k miles using a Ford Red Carpet Lease. Thank you.
  • Hi al330i. Ford's lease program for the 2006 Explorer seems to vary depending upon what area of the country one is in. In most of the U.S., Ford Credit's base lease rate and residual value for a 36 month, 15,000 miles per year lease of a 2006 Explorer XLT 4WD are 4.0% and 49%, respectively. The numbers for an otherwise identical lease of a 2006 Explorer Eddie Bauer 4WD are 4.0% and 51%, respectively. Ford Credit's residual values for leases with 12,000 miles per year are 2% higher than its 15,000 miles per year residuals and its residuals for leases with 10,500 miles per year are 3% higher. When negotiating your lease on this truck, remember that Ford is currently providing $1,500 lease cash plus an additional $500 Ford Credit Bonus ($2,000 total) on the '06 Explorer right now. This money will help you to negotiate an attractive capitalized cost.

    Car_man
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  • Hey Car_Man, I have a question for you.
    I am looking at leasing a 2006 EB Explorer. I was wondering what the difference in residual is between the V6 and the V8. Any help in this area would be sufficient.
  • Here's what we've got to share so far:
    MSRP 40865
    Due at signing 1424.55
    Monthly 24mo 12k/yr $510
    includes CT sales & prop taxes
    pwr 3rd row
    roof
    dvd
    nav
    luxury
    reverse sensing
    safety canopy Can anyone comment? Thx, Rich
  • You're very welcome, al330i.

    Car_man
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  • Hi gonecruzan. All 2006 Ford Explorer Eddie Bauer models have the same residual values, regardless of engine type. The only difference in residuals is 2WD versus 4WD. For 36, 39, and 48 month leases the 4WD version's residual values are 1% higher than the 2WD version's

    Car_man
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  • Hello Rich. You never mentioned the selling price of the truck 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 this Explorer's selling price is.

    Car_man
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  • explorerx4explorerx4 Central CTPosts: 9,452
    hi rich,
    am also from ct and have looked into leasing from ford(actually did one time).
    i'll just give you my experience, which may be different from yours. property tax is a big deal. when i was quoted payments, the property tax was .0025 (a quarter of a percent) of the msrp per month.
    40k times .0025 = 100. 100 times 12 = $1200 per year. this is way more money than i would pay on a 40k vehicles in my town, and you have to pay that each year of the lease.
    the property tax basis is also calculated from the base msrp, in other words excluding any option packages. property tax usually decreases as the vehicle ages.
    the dealer would not negotiate this.
    when i leased from saab, they just billed me the amount on the property tax bill, and i was able to claim it.
    it might have just been the dealer i was negotiating with.
    also the state sales/use tax is calculated including the property tax portion.
    hope this helps.
  • Car_man,

    Please post the November MF and Residual percent from Ford Credit for the 2006 Explorer 4x4 (Eddie Bauer) for 3yr/15k miles. Also, what does FMC charge for additional miles?

    Thanks for being such a great resource!
  • Hey Car Man,

    The vehicle I am looking at is a 2006 EB Explorer V8. The MSRP is $35,970. The dealer is trying to tell me that because it is a lease he has to base it on the MSRP price. He came up with $5100 down @ $299/month based on 10k a yr. Does this seem like a good price to you?
  • It sounds like a horrible deal to me. Yesterday, I was given a quote for a 2006 EB Explorer 4X4 V8 with an MSRP of $38,135. Purchase price is $32800. $477/month for 3yr/15k miles. Due at delivery: 1st month payment, license, tax, security deposit. Located in Minnesota.
  • On a 2006 Exp. Limited V8 with Cashmere tri-coat paint, power moonroof, 3rd row manual seat, safety canopy air curtain system, ultimate convenience group, reverse sensing system, chrome step bars, chrome luggage rack cross rails, to lease for 36 months at 12k per year and putting $3,088 total down, dealer came back with $404.79 per month and thats with all taxes and fees built into payments. Is this a good deal? (initially told him i was buying and got him down from $39500 to $36000.
  • Does anyone know about this lease deal. It is on www.fordvehicles.com and is a national promotion. I have never leased and want to understand the total amount of cash that has to be put down. It appears to be around $2000. I just don't know about the taxes(Arizona) and if more than that $2000 is what they want down. Any help would be much appreciated.
  • Ok, I think I have made my deal. I have been quoted what seems to be a great deal. 2006 EB Explorer V8. Options include: 18" chrome wheels, Audiophile 6cd changer w/subwoofer, Trailer Tow Package, Power Moonroof, Reverse sensing system(for the wife), Roof Rails, 3rd row manual folding seat, and rear seat DVD Entertainment System. MSRP is $38,830. The deal he is giving me is $2500 down $329 a month for 24 months and a 10.5k allowance. Any feedback would be great.
  • explorerx4explorerx4 Central CTPosts: 9,452
    when leasing, try to put down as little cash as possible.
    look at it this way, 329 24 months is ith 2500 down, is pret much the same as 440 a month with zero down. i konw some fees are included with the 2500 down. i am just trying to make a point.
  • Hello all. My mother is looking at a 2006 EB 4X4 6 cyl. I believe the MSRP is around 32,600. Standard package plus power moonroof. Proposed deal is as follows. Getting employee $2,500 reduction plus I believe $500 for lease loyalty, and $1500 for some other current promotion. Dealer is eating $1,600 in payments and mileage overage on the current trade in (older explorer). (I believe 3 months rent) Rate quoted is 4.29%. $1,000 down for $418 a month with 40,000 miles over 36 month term. Any feedback would be appreciated. Thanks in advance.
  • Looking for feedback on this deal....2006 EB Explorer- Has EVERYTHING except navigation. Quoted $330/month (24 months)$2500 down.....looking for help with the buyout figure- dlr came up with $26,000...does this sound close? What are the residuals for 24 month leases? Sticker price $41,600.Any help would be appreciated. Thanks!
  • Hey Springs3,
    That sounds like a very good deal. I am about to get a 2006 EB Explorer 2500 down 329/month with a buyout figure of 23,700. The MSRP is 38,830.
  • I just sealed a deal a day ago....leased a Limited (13,500 miles/yr) with pretty much every option but nav/dvd...msrp was $38500...I traded in a '01 volvo cross country with 63,844 miles in good shape and got $14,000 for it....now, I apply for the z-plan as well....not having a good background on leasing, I was quoted $439/mo....I initially said that I didn't want to use my trade-in to finance but then suggested that if I used my trade in to pre-pay for the 3 years in full would that suffice. They said yes and somehow in retrospect I don't think it was a good deal for me....If I got screwed so be it...at least I can learn from the mistake and move on....if the deal was o.k for me then of course I can live with it...can someone please let me know? I live in the Detroit Metro Area.
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