Ford Explorer Lease Questions

kyfdx

@thebrub311 said:
Denver, CO. 2014 4X4 Explorer LTD Lease - 12,000 miles / Year - 36 months - $47,084 (Tax / Tags Included) - Quoted $552.90 / Month, with $4,000 down. Residual value @ $24,092. Is this a good deal? What is the money factor for April for +730 credit.

Ford uses APRs instead of money factors. The current APR for that lease term is 0.50%, and a residual of 51%.

Do you have the actual MSRP and selling price? There is $2250 lease cash on this model.

ouracingjay

We have narrowed our search down to a new 2014 Explorer LTD 4x2. We are looking at leasing 36 months x 15,000 miles. MSRP is $41,990 and the negotiated price is $37,669. Adding back $1,345 in TTL, the total cap is $39,014. Dealer is quoting a $627 monthly payment. I'm calculating in the $530 range with the 0.50% rate and 49% residual. Can someone help me find the difference? Thanks in advance!

kyfdx

@ouracingjay said:
We have narrowed our search down to a new 2014 Explorer LTD 4x2. We are looking at leasing 36 months x 15,000 miles. MSRP is $41,990 and the negotiated price is $37,669. Adding back $1,345 in TTL, the total cap is $39,014. Dealer is quoting a $627 monthly payment. I'm calculating in the $530 range with the 0.50% rate and 49% residual. Can someone help me find the difference? Thanks in advance!

I show the residual at 48%, not 49%, but I still get a payment around $536/mo.

Do you know for certain that the TTL is $1345? Also, acquisition fees and dealer doc fees? There may be numbers that the dealer isn't giving you..

csrn

I'm looking at a 2014 sport negotiated price 45,210 (MSRP 50,410). These are the numbers I received from the dealership:
12,000 mile, 39 month lease with no money down, the estimated monthly payment is $673.97. The Money Factor is 1.75 and the Residual is 52%.

On a 15,000 mile, 39 month lease with no money down, the estimated monthly payment is $699.94. The Money Factor is 1.75 and the Residual is 50%.

Does this seem correct? I thought it was high. I was hoping to keep my payments $550 or less. We are in Texas, i'm not sure if that price include TTL
Thanks

Michaell

@csrn said:
I'm looking at a 2014 sport negotiated price 45,210 (MSRP 50,410). These are the numbers I received from the dealership:
12,000 mile, 39 month lease with no money down, the estimated monthly payment is $673.97. The Money Factor is 1.75 and the Residual is 52%.

On a 15,000 mile, 39 month lease with no money down, the estimated monthly payment is $699.94. The Money Factor is 1.75 and the Residual is 50%.

Does this seem correct? I thought it was high. I was hoping to keep my payments $550 or less. We are in Texas, i'm not sure if that price include TTL
Thanks

See my response in the Acadia topic .. Texas leases are going to be more expensive as the entire selling price is taxed, not just the depreciated part used during the lease.

mike2555

Looking for RES% and MF on a 2014 Explorer sport base model located in california. 12,000 miles for 24 or 36 months.

Michaell

@mike2555 said:
Looking for RES% and MF on a 2014 Explorer sport base model located in california. 12,000 miles for 24 or 36 months.

Explorer Sport:

36/12 - 54% and .50%

24/12 - 63% and .25%

$2250 lease cash for both, plus $500 if you are renewing an existing Ford lease.

scotts22

Located in Northern NJ. Looking at 2014 Explorer XLT, MSRP $41,180, Sale Price $34,642, Residual $21,825. Quoted $399/mo for 36 months, 12,000 miles/yr with $2,989 down. The $2,989 includes the following: $1,235 tax, $645 acq fee, $411 motor veh, $399 doc fees and $299 etch fee.
Really don't understand the whole leasing numbers game. Thoughts on this deal?

Michaell

@scotts22 said:
Located in Northern NJ. Looking at 2014 Explorer XLT, MSRP $41,180, Sale Price $34,642, Residual $21,825. Quoted $399/mo for 36 months, 12,000 miles/yr with $2,989 down. The $2,989 includes the following: $1,235 tax, $645 acq fee, $411 motor veh, $399 doc fees and $299 etch fee.
Really don't understand the whole leasing numbers game. Thoughts on this deal?

Assuming it's AWD, I get a pre-tax payment of $367.87, so $399/mo with tax seems about right. Good selling price, but the $399 doc fee and $299 etch fee are pure profit for the dealer.

scotts22

Thanks Michael. Quick question...Yes, it is AWD. Regarding your comment, if they are saying the $2,989 includes tax of $1,235, wouldn't I be double paying tax if they tax the monthly payments also?

One final question, the dealer is using MSRP of $41,180 but that amount is on the sticker as Total before Discounts. Then there is an Equip Group Savings that nets down to the Total MSRP of $40,460. I guess either way the sale price is good but didn't know how the MSRP factors into the payment calc.

Michaell

@scotts22 said:
Thanks Michael. Quick question...Yes, it is AWD. Regarding your comment, if they are saying the $2,989 includes tax of $1,235, wouldn't I be double paying tax if they tax the monthly payments also?

One final question, the dealer is using MSRP of $41,180 but that amount is on the sticker as Total before Discounts. Then there is an Equip Group Savings that nets down to the Total MSRP of $40,460. I guess either way the sale price is good but didn't know how the MSRP factors into the payment calc.

Not sure of your state, but there are sales taxes and property taxes. You might have to contact the dealer to find out which they are having you pay up front. If it is sales tax, then yes, you wouldn't pay them again as part of the payment.

The MSRP is used to calculate the residual value .. this should be the price on the sticker, including any adjustments for package savings.

scotts22

Settled on $2,625 down plus first month payment of $375. Total out of pocket $3,000. 36 month term, 12,000 miles per month. Remaining 35 months at $375/mo.

kyfdx

Congrats on the new truck!

sportfan

can someone help me out with latest Residual / MF on Explorer sport 36month lease
Thanks

Michaell

@sportfan said:
can someone help me out with latest Residual / MF on Explorer sport 36month lease
Thanks

How many miles per year?

sportfan

12k miles

Michaell

@sportfan said:
can someone help me out with latest Residual / MF on Explorer sport 36month lease 12K miles
Thanks

54% residual and .50% MF

$2250 lease cash.

sportfan

Thx

mike2555

Looking for residual and MF on a 2014 Explorer XLT and Limited. 12,000 miles for 36 and 39 months. Thanks for your help.

kyfdx

@mike2555 said:
Looking for residual and MF on a 2014 Explorer XLT and Limited. 12,000 miles for 36 and 39 months. Thanks for your help.

4X4?

0.50% APR and 53% for 36mo, 12K on XLT.

0.75% APR and 51% for 39mo, 12K/yr on XLT.

Subtract 2% from residual for Limited trim.

mike2555

sorry, 4x2

Michaell

@mike2555 said:
sorry, 4x2

XLT residuals are the same for 4x4 and 4x2, while the Limited residuals drop 1% for 4x2.