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Ford Explorer Lease Questions

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Comments

  • frackingfracking Posts: 7
    Is the MF then .0001?
  • rehab702rehab702 Posts: 14
    edited March 2013
    Hey Car Man

    Do you have the March residual and lease rate for an Explorer FWD XLT 36 months and 12K miles? This is in Nevada.

    Thanks
  • frackingfracking Posts: 7
    Car Man / Forum Readers,

    For those looking to lease a Ford Explorer XLT 2Front wheel drive. Closed on the following deal:

    MSRP 39,300
    Payment $364 , $389 with tax
    10,500 miles per yr
    Sign and Drive. 0 money down, inceptions or tag. Inceptions rolled into the Cap cost.
    I beleive the car has a 57% residual value and an interest rate on depreciation of only .25%.

    Also there were $3,420 in inception money including 1000 lease conquest.

    I hope that helps others shopping for a vehicle. I purchased from Al in Lakeland Fl.
  • mtlnymtlny Posts: 2
    Good deal or not?

    2013 new Explorer XLT 4WD
    202A
    Dual moon roof
    Voice activated Nav
    MSRP 40785
    neg to 38000(below x plan)
    rebates 2000
    college rebate 500
    trade 3000

    $328/ month tax incl
  • green69green69 Posts: 16
    How many months? How many miles per yr.?
  • mtlnymtlny Posts: 2
    Sorry, 36-12,00
  • green69green69 Posts: 16
    Thats a good deal! Factor out the $3,000
    trade in you have and your actually paying
    about $418.00 a month. That trade is just like cash
    down and you can roughly figure for every $1,000 you
    put down, it will reduce your payment $30.00 a
    month on a 36 mo. Lease. This is A fair price for the car!
  • For what its worth...picked up an explorer sport msrp over 49k, with dual roof and 402a package + advanced cruise. Monthly payment is 481. 0 down NO other fees. First payment that's all. THIS INCLUDED registration 12k 36months
  • destinymdestinym Posts: 1
    Just lease our Ford Explorer today.

    XLT with voice activated navigation, 202A package, alloy wheels.

    MSRP: 39285.00
    Discounted Price: 37504.00
    Rebates: 3175.00
    Residual: 24750.00/63%
    Percent: 0.25%, which I think translates to a 6% APR???
    Trade-In: -5721.39 (upside down)
    Cash Down: 4721.39

    Payment for 23 months: $560
    No first month payment, free maintenance plan

    Did we just get taken to the bank our is this a good deal.
    All these numbers made my head spin!!!

    Thank you!!!
  • toast2toast2 Posts: 6
    Car_Man,
    Can I get rates and your opinions...I would like to get rates for a Explorer Sport lease in So Cal. Seems like the Ford sales people are not familiar with MF's or they don't want to dispense that info.

    Do you suggest getting maintenance package included in lease price?
    In general do lease deals get better toward the end of the year?
    I was planning on leasing a car at the end of the month since I've read that is the best time but was contemplating waiting to see the incentives and rates for April.

    Thanks for this forum and all your info.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rehab702. ford Credit's March base lease rate and residual value for a 36-month lease of a 2013 Ford Explorer XLT FWD with 12,000 miles per year are 0.25% to 0.75% (the exact rate varies by region) and 56%.

    The numbers are the same for the AWD model.

    Ford is providing anywhere from $750 to $2,000 in cash incentives on leases of this truck. Again, the exact amount depends upon what state you are in.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi salsport. The truck that you are interested in probably has a spread of $2,700 or so between its full MSRP and dealer invoice price. If we add the $2,000 cash incentive that Ford is providing on leases of this truck in its New York region and the $1,000 loyalty cash for current Ford Credit lessees to that you have a total of around $5,700 to play with in your negotiations. Let's say that you are able to negotiate a total discount of $5,200 on this truck and work up a payment from there.

    According to my calculations, using those prices this truck would have 36-month, 13,500 mile per year, a zero down, pre-tax monthly payment of around $394. Again this is a good deal and it's before tax, so you will likely be a little over $400 on anything that you get.

    I've seen the '13 Explorer Sport as being rated 16 / 22 on gas mileage. That's better than your Mountaineer, but not amazing by any stretch of the imagination.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, a lease rate of 0.25% does convert into a money factor of around .00010.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rehab702rehab702 Posts: 14
    Finished a deal on an Explorer XLT

    Details:
    XLT
    202A
    Navigation
    Power Lift Gate
    Trailer Tow Pkg

    MSRP: 37,685

    Selling Price: 35,704.69 (x-plan)

    Lease Fee: 645
    Doc Fee: 100
    Title: 28.25
    RCL Rebate (1,750)
    Lease Conquest (1,000)

    Down: 2,000 + 325.45 (1st pmt)

    Net Capitalized Cost: 31,920.27

    36 months / 10500 miles
    Payment = 301.06 + 24.39 tax = 325.45

    Residual = 57%
    Lease Rate = 0.50%
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rehab702. Ford Credit's March base lease rate and residual value for a 36-month lease of a 2013 Explorer XLT FWD with 12,000 miles per year in Nevada are 0.5% and 56%.

    I think that Ford is providing a $1,750 cash incentive on leases of this truck in your area right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on getting your new Explorer, fracking. Thanks for taking the time to share the details with everyone. Enjoy!

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi toast2. Ford Credit's March base lease rate and residual value for a 36-month lease of a 2013 Explorer Sport in the Los Angeles area with 15,000 miles per year are 0.75% and 55%.

    Ford is providing a $1,500 cash incentive on leases of this truck in your area right now.

    I personally would not buy pre-paid maintenance on any leased vehicle other than an Audi. All I ever do in terms of maintenance on a lease is change the oil every couple thousand miles and perhaps rotate the tires. I usually don't even go to the dealer to do that. Pre-paid maintenance on leased vehicles is usually a waste.

    The end of the year, i.e. December, is usually a very good time to get a new vehicle, but you probably want to get one sooner than that. It's difficult to say whether the April deals will be better than the ones that are available right now. If I had to make an educated guess, I personally would say that the April programs will be at least as aggressive as the current ones, perhaps better, but again no one knows for certain what they'll be like at this point.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Carman, can you give me the MF and Residual for a 36 month 12K per year lease on an Explorer Sport in South Carolina?

    Thanks
  • So I got the Lease info for South Carolina from a local dealer and I have some questions about the Lease fee. Here are the details. I was quoted a lease fee of 695 from Ford. Is that a standard non negotiable fee?

    For anyone else, the APR is .25 or about .000104 MF and residual is 57% for a 36 month/12K miles per year on the Explorer Sport.
  • psoricapsorica Posts: 15
    Hi Carman,

    I’m trying to understand this process… and I have way too many numbers circling around in my head.

    Could you provide the lease rate, MF and residual rate for Florida? Also, do you know anything about whether the tax is rolled back into the capitalized cost or if we simply pay tax in the monthly payment? I'm getting so confused with all the details. We're also considering other cars. But right now we're looking at an Explorer XLT, don't want to pay more than a little over invoice,

    $30,500,
    plus options $6152-$720 discount: $5,432 for options
    $895 destination

    $36,827
    Is this where we would add in the acquisition fee, any advertising fee, and tax? Or are these paid as part of inceptions, due at lease signing?

    3,925 in rebates - $2,000 cust cash, $425, for first month payment, $1000 lease conquest, $500 college grad

    $32,902 est cap cost

    Should we put money down or just use the money to pay for inceptions? I guess if the acquisition, advertising and tax are rolled back into the capitalized costs, then put a down payment? If not, use the money for inceptions? But don’t we pay tax on any money we put down? Is it better just to not put money down and cover the fees and taxes thru inceptions?

    If I calculate the Adjusted Cap at $32,902, (no money down, no acquisition, advertising or tax included), using the .25 lease rate (MF .0001), and residual at 56%, MSRP $39,905, residual $22,346.80, term 36 months….

    I get a depreciation fee of $293.20, finance fee of $5.25, which equals $298.73 plus 6% tax equals $316.65 total monthly payment… Is that correct?

    I don’t have the acquisition fee, advertising fee, doc fees, tax, tag or registration fees, yet. So I cannot calculate what the inception, due at signing amount would be. Do you know what any of these fees might be, or where I can find the info?

    Also, again, do you suggest paying these fees upfront as inceptions or rolling them back into capitalized costs? If you roll the tax back in, is it part of gross cap cost, which equals tax rate X (base monthly lease payment X term)… 6% multiplied by $298.73, multiplied by term 36 months… $645.25?

    Wouldn’t that change the monthly payment to $316.71 base, plus tax $335.71?
    And if I estimate acquisition at $595, doc at $250, advertising at $595, that would change the monthly to

    $351.12 depreciation, $5.73 finance fee, equals $356.85, plus tax $378.27

    In that case, is it better to cover the $2085.25 at inception, at get the lower payment of $316.65… or roll it all in and pay the $378.27 every month… or is it $356.85 because the tax was rolled back into capitalized cost?

    If we put $1500 down, with those fees rolled into cap cost, we’d be at #315.05, plus tax $333.94?

    Sorry for so many questions, but I’m trying to understand how this all works.

    Thanks for any and all insights.
This discussion has been closed.