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Ford Explorer Lease Questions

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  • nyccarguynyccarguy Stamford, CTPosts: 7,395
    My sister & brother-in-law have decided they are going to lease a 4WD Explorer XLT for 24 months/10,500 miles per year. Can you tell me Red Carpet's current base residuals & money factors? I'm not sure yet if they are looking for a 2012 or a 2013. Are there any incentives or rebates currently available for this vehicle?

    Thanks so much as always for your help! You do an amazing job here.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I have seen the new lease program for the 2012 Explorer, jarrade. For a 36-month lease of this truck there is a 1.75% lease rate and a $750 cash incentive.

    The residual values vary by trim level.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey nyccarguy. Thanks :) . Ford Credit's current base lease rate and residual value for a 24-month lease of a 2012 Explorer XLT 4WD with 10,500 miles per year are 0.25% and 64%, respectively. There is a $750 cash incentive on leases of this truck right now.

    The numbers for an otherwise identical lease of a 2013 model are 1.0% and 67%. There is no cash on leases of the 2013 model.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • walt201walt201 Posts: 1
    Hey guys, looking to lease a 2012 or 13 explorer. Can u give me a roundabout figure what my monthly payment would be if I put down around 2K with 12000 miles a year on a 2 or 3 year lease? Thanks a lot.
  • nyccarguynyccarguy Stamford, CTPosts: 7,395
    Thanks again car_man. I'm not sure what their exact monthly pmt is, but they picked up their '13 XLT 4WD with an MSRP of $42,800 & a Selling Price of $39,613. 1% money factor for 24 months. I really appreciate your help.

    2001 Honda Prelude Type SH/ 2011 BMW 328xi / 2011 Honda Pilot EX-L w/ Navigation

  • Hi car man,

    Would appreciate if you could let me know the residuals and money factors for 2012 and 2013 Explorers for 24 and 36 month leases with 12,000 miles per year. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out. Ford Credit's current base lease rate and residual value for a 24-month lease of a base 2013 Explorer AWD with 12,000 miles per year are 0.5% and 66%, respectively.

    The numbers for an otherwise identical 36-month lease are 1.5% and 57%.

    The numbers for the 2012 model are 0.25% / 63% and 1.75% / 54%.

    Make sure to take advantage of the $250 cash incentive that is currently available on leases of the 2013 and $750 on the 2012 model.

    Car_man
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  • 1. Do you know if these lease rates apply to 2013 Explorer Sport?
    2. What would be the lease rates for the Sport for a 10K, 36mo lease?

    Thanks.

    DR
  • Hi Car_man,

    Thanks for the information. Is this the same for a Limited? The local dealer here is telling me the residual for a 24 month lease, 12K miles per year is 63%. Thanks.
  • Hi Car_man,

    Two local dealers in the palm beach county area in South Florida are quoting around $700 per month for a 24 month lease with 12K miles per year with no cap cost reduction. MSRP is $47,690. Based on the TMV of this car tracking close to the invoice price of approx $44,000, and a 66% residual and .5% MF, I have been calculating a lease price around $572 with no money down. Has anyone else been getting a similar price, or does the $700 per month seem reasonable? Thanks.
  • shel100shel100 Posts: 1
    Is residual factor multiplied by the MSRP before incentives or after incentives?

    Thanks,

    BR
  • devilsadvct33devilsadvct33 Posts: 17
    edited September 2012
    Got the following price on a lease of a 2013 FWD Limited:

    36 months, 12,000 miles per year
    $615 per month (includes 6% tax), $1,343 total drive off (includes first payment)
    MSRP: $47,690

    White with Medium Stone Interior
    302A Package
    Dual 2nd row buckets
    Dual Moonroof
    Trailer tow hitch
    White Platinum Met Tri-Coat Paint

    I do not have the actual buy price, but based on my calculations, it looks like the buy price is about $45,350 before the $250 lease cash. The invoice on the car is a little under $44k. Based on this, it looks to me that the dealer is making a profit of about $3k on the car, which includes the 3% holdback, price above invoice and the $250 lease cash. My wife wanted this specific model/color combo. There was only one other dealership in my area that had this exact model, and their final price was $1,900 total down, $645 per month (includes 6% tax). They would not lower their offer even after I gave them the other dealers numbers. Even though the TMV in my area was right around invoice price, it didn't seem that the dealers were willing to sell at that price. This is in the South Florida area.
  • Ford is showing Nat'l ad on base fwd explorer for $319 over 39 months. $1000 conquest plus $250 rebate and $500 towards 1st months payment. For a $0/0/0 red carpet lease. 10,500 miles/year Assuming MSRP is $29695 I'm not sure how they are pulling $319 if the residual is really 66% like you say unless the residual is wrong or the rate is wrong. Assuming A plan (about $1000 under invoice) is my actual purchase price what can I expect the payment to be? if 66% is correct it should be in the high $2's with tax and tags and acq. 7% state tax.
  • Just made a deal today on a new 2013 ford explorer limited AWD.

    Leased the truck for 36 months , 12,000 miles per year , 2,500 total out of pocket including first months payment. Payment is $485 a month which includes tax. MSRP of the vehicle was $46,140.

    Did I make a good deal?
  • Hi shel100. Here's an article that describes how to calculate lease payments: Calculate Your Own Lease Payment. In short, incentives and dealer discounts do lower vehicles' lease payments.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi There,

    The lease conquest that Ford currently has (program #34080) says I must take delivery by 10/01/2012 - does that mean it had to be done already or can I take delivery by end of the day on Monday 10/1/2012. I was supposed to take delivery today but the dealer couldn't get all the paperwork done in time. If it has indeed expired (since the dealer is closed on Sunday) what is the likelihood (if anyone knows) that the lease conquest will be extended?

    Also, when does Ford typically release the new month's incentives?

    Thank You!
  • Got my answer on this from the dealer - it runs through the end of today.

    So the incentives expire today - wondering if I should wait until tomorrow to see what Ford announces?

    Right now the incentives I have applied are:

    $1500 Retail Cash
    $1000 Lease Conquest
    $250 RCL Bonus

    Hmmmmm.....

    This is on Xplan pricing.
  • genonegenone Posts: 2
    Also interested in what the October incentives will be. Also, any update on what Ford is running for residuals and money factor on the the Limited? Thanks in advance
  • Limited 36 Months was 56%
    Limited 39 Months was 55%

    Tier 0-1 36 Months 1.5%
    Tier 0-1 39 Months 1.75%

    I just signed my deal tonight....hoping incentives aren't better tomorrow but I haven't taken delivery yet and the Sales Manager said he'd rewrite the paperwork if they are.
  • genonegenone Posts: 2
    Thanks for the quick reply - should have stated I was looking for the 24 month 12k miles #s in original post! Thanks again -
This discussion has been closed.