Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Ford Explorer Lease Questions

1121315171837

Comments

  • Okay I am new to all of the leasing stuff--but plan to lease in June. The last post stated the currnet rates end on April 4. After this do you think they will get any better? I want about a 460 payment total and would like an XLT to lease. Is this even possible?
  • Hello Sam. Ford Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2011 Explorer Limited 4WD with 15,000 miles per year are 2.5% and 51%, respectively.

    The numbers for an otherwise identical 48 month lease are 5.0% and 44%, respectively.

    The residual values for leases with only 12,000 miles per year are 2% higher.

    I believe that the $500 cash incentive for ordering your Explorer is compatible with the lease program, but the $1,000 cash incentive is not.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • emd2emd2 Posts: 1
    I have owned 3 ford explorers. Currently I have a 2006 Eddie Bauer Explorer, fully loaded with 40k miles on it. I have 4 payments left. Unfortunately I have been out of work and need to see if I can get any money out of the car. I am trying to find out if I can sell this car which blue books at 17k trade in and use no more then 5k of it to lease a new one. I need as much cash as I can get out of the car. I need low payments preferably no more then $350 a month on a fully loaded explorer. I am clueless on leasing and not sure if i am dreaming. I live in San Diego. If anyone has any ideas how I can go about doing this I would appreciate any input and advice. I don't even know where to start and what information I should be armed with going into a dealer. How negotiable are lease prices and how do I go about getting the lowest payment. I would keep the car for the term of the lease and would not buy it at the end of the lease term.
  • Thank you for getting back to me and it is great timing. I just spoke to my dealer and he went over the lease figures with me indicating that the tier 1 apr was 2.75% and not 2.5%. Can you verify if this is in fact true or could it be true if purchasing in NJ? How do I keep them honest on this and prove to them that it is 2.5%?

    I would greatly appreciate if you could get back to me in the next day or so as my pre-order is supposed to come in this weekend.

    Thank you so much for your assistance.
  • Just Checking if lease rates are correct and good value. Quoted $472 month with no money down (except first months payment and taxes) for 36 months. Seems there is a $1000 Conquest cash. Is this comparable to existing leases.It seems the car is almost impossible to get from any dealer and they are reluctant to spec the way i want it.
  • I was looking at a XLT with 202A package, navigation and power liftgate. nothing more. I was open to colors but prefered dark gray or dark red.

    Area is NYC Metro Area (Queens/Long Island). Sorry for omitting that!
  • With an MSRP of 35,500 and I give them 1500. I live in upstate NY. I'm thinking a 10,500 24 month lease. I know the negotiated price will be lower than MSRP The 1500. can be applied any way they like, but I don't want to put in any more. I would much appreciate a ballpark monthly cost number in mind when I speak to a dealer. I currently have a GMC Acadia coming off lease i 2 months. Thanks for any help.
  • urbanplanurbanplan Posts: 4
    edited February 2011
    Actually got a little more information. $430 a month on MSRP of 38,360. No money down and taxes up front. . Im thinking this is a pretty good deal.
  • Question: do leases have an X Plan like purchasing?
    Also: what is an expected lease price for a 302a pkg w/ $42300 price tag (excluding taxes and fees) / (12000 miles, 36 months), including initial payment? I live in CT if that matters.
  • Hi,

    I live in NYC and I'd like to lease the 2011 Explorer Limited edition. I'd like to put down no more than $1500. What do you think is a good lease rate? Assume that the car has a MSRP of about 44k. I've been quoted $570/mn with 1300 down and I think that is very high.

    Thanks in advance Car man!
  • You're welcome sddreams. I've seen a 2.5% lease rate for the 2011 Explorer, not 2.75%. That's not a big difference, but you still should see if you can get the dealer to use the 2.5% rate to calculate your payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi jju7777. If you qualify for Ford's X-Plan, you should still be able to lease.

    I would be happy to work up a payment on the truck that you're considering for you. However in order for me to do so I need you to provide me with its full MSRP and selling price (I need both). Let me know and I'll crunch some numbers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi shaib52. Let's assume that you were given a $2,000 dealer discount on this truck.

    According to my calculations, if you were to lease a 2011 Explorer Limited AWD that has an MSRP of $44,000 and a selling price of $42,000 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $587.

    That's a lot of money for an Explorer, but it is what it is. That's probably what you will have to pay if you want to lease one right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car man,

    Ok, sure. MSRP is $44200 / sale price was $42700 (excluding taxes, fees). Taxes and fees are $1400.

    Options on car:
    2 panel moon roof
    2nd row buckets

    Thank you for your help. Really appreciated.
    jju
  • jju7777jju7777 Posts: 4
    edited February 2011
    Car Man,
    With taxes and fees included at $44200, what's a reasonable lease price for 36 mo, 12K/ yr with $1500 down? Car dealer is in southern CT.
    Are Explorers overpriced in your opinion?
    Thanks for your insight.
    Jju7777
  • My 2011 explorer finally came in and I picked it up yesterday! Great car, but getting the deal done was not so pleasant. The main issue was that when I pre-ordered the vehicle, Ford was offering a $500 pre-order discount, but because I was leasing, the dealer could no longer offer it.

    Also, I NEVER knew that the dealer can mark-up the APR for a lease. Even though I had perfect credit (750+), they marked up the 2.5% APR to 4%! After a lot of haggling and insisting that I should get the best rate FMC is offering, they said they are permitted ot mark it up and that was that!

    Has anyone else had this experience?

    Finally, I got a 52% residual (15K, 36 month, Limited 4wd, NJ) vs 51% which is what I believe CarMan indicated was the rate.

    Thank you
  • Sddreams,
    Congrats on the new Explorer. Mine is a few weeks away still. Your info is helpful. I'm in CT and awaiting a similar vehicle. Got the 2nd row buckets and dbl moon roof. All in including taxes and fees the car is $44200. How much should the 3 yr lease be with 12K miles and $1500 down? The dealership is saying I need $3000 up front to get lease to $595. Is that too much?
  • Thanks jju7777...car is great!

    I would refer you to the site, leaseguide.com, to better understand the math behind how a lease amount is calculated. This is a free site and will help you understand very clearly how to plug in your figures and determine what your number should be.

    I only had to put down my first month's payment, although I did put down more. There is a $595 acq fee and probably a $399 doc fee and perhaps a $299 vin etching fee. All of these fees plus title/tags/registration, i paid upfront, but you shouldn't have too...it may be dependent on your credit..not sure.

    good luck
  • djhalptertdjhalptert Posts: 115
    $595 with $3K down!!! Are you joking? I leased an XLT, loaded, MSRP was $41K and I had only $2000 trade equity on my old lease and got a payment of $390.81. That $595 can't be right. Even if I wouldn't have had $2000 trade-in my payment would've only been about $475 MAX and they are telling you to put down $3000 to get to $595????
This discussion has been closed.