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Ford Explorer Lease Questions
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Car_man
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Car_man
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I'm wondering if anyone could help me out!
We are getting a deal and I'm wondering if it's very good?
Explorer XLT
Leather package
Convience Package
3rd seat
Climate package
Running Boards
6 disk changer
MSRP $31,120
We have the Ford X Plan so that make s the price $29,957
We have an '04 Toyota Solara SE Sport that blue books at $12300 but he only wants to give us $11K and we owe $20K
so there is another $9K tacked on
there is $4K in rebates
36 mos
12K/year
Acq. Fee $595 Dock Fee $45
Tax is 7.25%
and he has us at 2.25%
He has our payment at $662.53 AND $2000 down.
I plugged this into a lease calculator but I came up with alot less. Can you tell me if I'm getting taken?
Let's work up a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2007 Ford Explorer XLT 4WD that has an MSRP of $31,120 and a capitalized cost of $32,957 ($29,957 selling price - $4,000 lease cash - $2,000 cap cost reduction + $9,000 negative equity) through Ford Credit right now for 36 months with 12,000 miles per year, your $2,000 down, pre-tax monthly payment would be around $571. As you can see, there seems to be something wrong with the monthly payment that you were quoted. There's no way that sales tax adds $100 per month to your payment. If I was in your situation I would comparison shop with another dealer or two.
Car_man
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options (i am sure there are more, but these are the ones that i can think of off hand)
third row seat
moon roof
cd player
cruise control
power drivers seat
airbags
4wd
thanks,
aimee
Car_man
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I was looking for a new 07 Expl. Looking to lease for first time. Currently have 03 xlt w/46k miles but would like upgrade to EB with V8, trailer tow etc... Not sure about the whole lease thing. Any ideas what a good starting deal would be or where to start at???? I live in upstate New York but i have found that it is hard to find a vehicle up here with options that i would like to get
In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the new vehicle that you want and then have the dealer that gives you that price calculate your monthly payment using its base lease rate. If you give me an idea of what the MSRP of the truck that you are interested in is and what sort of selling price you expect to be able to negotiate I would be happy to work up a sample lease payment for you.
Car_man
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MSRP $37,675.00
Sale Price $35,999.00
Less Lease Rebates -$3000.00
(used to cover 1st payment, & DMV....ZERO out of pocket cash)
36 months @ 10,500 miles per year = 607.22 per month
Lease end value = $17,707.25
36 months @ 12,000 miles per year = 617.08 per month
Lease end value = $17,330.50
36 months @ 15,000 miles per year = 636.81 per month
Lease end value = $16,577.00
*All leases figured at 5.75% APR On Approved Credit.
X Plan quote on a 2008 Eddie Bauer with options - vehicle had a MSRP of $39k.
Dealership told me $532/mo for 12k/yr 39 months. Upon inception, only amount due was $1000 which comprised first month, taxes, title, registration, etc.
Interestingly enough, guy said this was below X plan and said he may be able to do better.....I thought x plan was "fixed" price so I'm wondering if dealership is trying to work me like a champ....
Can anyone provide MF and residual factor for '08 EB with above details? Thanks.
Car_man
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Let's take a look at the deal that you were quoted. The Explorer that you're interested in probably has a spread of around $2,500 between its full MSRP and its dealer invoice price. This means that the $2,600 dealer discount that you are being given is probably equivalent to around $900 over dealer invoice. If you are in an area that has a decent level of competition, I would not be surprised if you were able to beat this price by a couple hundred dollars.
The lease rate that you were quoted looks a little high to me as well. Ford Credit's current base lease rate for a 36 month lease of a 2007 Ford Explorer Eddie Bauer is at worst 3.25%. Make sure that the dealer uses Ford Credit's buy rate to calculate your truck's monthly payment.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
1. What areas of the US are the Ford Explorer Lease programs better?
2. When Leasing who gets the rebates? Example --- newspaper ad says "buy now up to $5000 in rebates". Leasing a car one must negotiate the lowest possible cost of the vehicle but yet I was criptically told by the dealer it depends on the leasing company as to who gets the rebates. Basically I want the rebates and the lease cash...What gives?
3. Why are the 2008 Explorers so thin? In the past Ford has flooded the market with new models by now.
4. What institutions can I work directly with to lease a Ford besides Ford Motor Credit?
My current offer:
2008 Eddie Bauer
39 mth///18K miles per year **** I drive a lot
Navigation
Eddie Bauer Luxury packade
Sync
Sun/Sirius
Reverse sensing
class 3 tow
18inch Chrome Clad
remote start factory installed
39mth lease.
+ roof rack, cargo privacy, mats, etc
MSRP - $37,770
Rebates - $2,500 + $1,000 Bonus + $1,000 Loyalty = $ $4500.
The residual they gave me is 39% ... ugh but i drive a lot.
I know the hold back is $924
I figured the money factory of .00052 or 1.25% even though they don't like to call it money factory.
I know the dealer profit margin on an explorer is 9%
I paid for cosumer reports bottom line pricing and basically offered them 3% over the overall invoice, even the invoice on the options, less holdback.
Their offer to me...$475 per month with $525 due a signing for 39mths
keep in mind I am in PA so the lease tax is 9% as well.
Please someone evaluate this.
There is no wear care or anything additional with this offer.
ALSO- Please respond to this as well...B/C i do 18k/year, i leave myself exposed dor 1 year to a gap in warranty because if i do 18k/year i will put 52k on it before I trade it in. Dealer is suggesting I pay extra $900 for warranty to fill gap...thoughts on the deal and warranty????Thanks!!!
I personally would pass on the extended warranty, but if you decide to get one keep in mind that the selling prices of warranties are negotiable as well. Not only that, but you do not have to purchase your truck's extended warranty from the dealer that you get your truck from. You should be able to purchase an official Ford warranty from any Ford dealer and still be able to have your Explorer serviced wherever you want.
Car_man
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Also, he was "suppose" to get sync, and then dealer was going to install a factory dvd navigation system. (all included in price). Now the dealer says that you cannot have sync and nav on the 08. Is that true? Now he is also saying that the deal he offered was so good that if we elect to not take the nav he will drop the $1995 from price. If we elect to drop the sync he will not credit the $395 because he offered us such a "good" deal that he is only making $16 on the deal.....I think this sounds shady.....what do you think? Do you think that he is telling the truth that you cannot have nav and sync in this car, and what do you think about his not agreeing to credit for the sync if this is true.
Thanks.
1. What areas of the US are the Ford Explorer Lease programs better?
2. When Leasing who gets the rebates? Example --- newspaper ad says "buy now up to $5000 in rebates". Leasing a car one must negotiate the lowest possible cost of the vehicle but yet I was criptically told by the dealer it depends on the leasing company as to who gets the rebates. Basically I want the rebates and the lease cash...What gives?
3. Why are the 2008 Explorers so thin? In the past Ford has flooded the market with new models by now.
4. What institutions can I work directly with to lease a Ford besides Ford Motor Credit?
Looking for a residual value and money factor on a 2008 Explorer XLT Limited. V6, 4 x 2, and NAV. Appreciate your help
MSRP: $36,600
Invoice: $34,657
Residual Value: $_____?
Money Factor / APR: _______
Thanks.
I am not sure if the Sync and Navigation systems can be offered in the same vehicle. It seems pretty strange that they can't, but perhaps in order for it to work they both have to be factory-installed.
Car_man
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Unfortunately, most banks do not deal directly with the general public when leasing vehicles. This is OK though because Ford Credit's lease program for this truck is so attractive that you probably won't be able to lease it for less through an independent bank anyhow.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I'm in Maryland, and am looking at leasing a 2008 Ford Explorer Eddie Bauer v8 4x4. MSRP with options is $39,345 and the invoice is $36,411. There is an additional $3,500 lease incentive available. I am anticipating negotiating a high of $300 over invoice--$33,241.
What is the (1) residual value and (2) interest rate to lease this vehicle for 39 months with 15,000 miles per year?
Thanks in advance!
What is the residual value and money factor for this offer? I've had another dealer quote the exact same base model for $299/mo but with 1,264 due at signing and also having to pay that first month payment. This price is after the renewal cash. Need to evaluate the two offers.
Also, I had one dealer tell me to wait until March as there will be a better lease offer starting on 3/2. He didn't know the specifics - just said it would be better than the current offer.
Thoughts from anyone?
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
X-PLAN Price; Rebates total about $6.6K; Residual 17-18K; 10.5K miles per year
Out of pocket = $1700. 36 X 480per month.
Thanks for your comments.
Looking to get 2010 Ford Explorer Sport Trac V6 4x2 Limited edition with couple of options for MSRP 34,700. I'm looking to lease, here is the info:
Houston Area
15,000 or 12,000 miles/year for 36 months
want to put very little to nothing down
Can you tell me any lease support/rebates that may apply to the price and also the money factor and residual values?
If you really want a 2010 Explorer, you would be better off financing it through Ford Credit at 1.9% for 3 years, 2.9% for 4 years, or 3.9% for 5 years. OR financing paying cash for it or financing it through an independent bank and taking advantage of the $3,000 cash incentive that is available on it this month.
Car_man
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I'm doing a bit of car shopping for my in-laws who lease cars for their business so they don't really have the buy option and their leases expire soon. my mother-in-law is deciding between audi q5 (fingers crossed) and mercedes GLK so I'll ping you for lease advice once she makes the decision. thanks for all your help.
I need help... I lost my keys for my explorer, I had the vehicle towed up to the dealership & had 2 new keys & programing done. The vehicle was driven home & then started once. I had to run back into the house after I started it the second time & took the keys out. I came back out to leave & my car wouldnt start again.
I know it has something to do w/ the keys cause my car is in rather good shape & nothing else could be the problem.
Of course the dealership is denying any programing they did was wrong. Do you have any ideas??
You'll have a better chance at getting an answer to your question here:
Ford Explorer Maintenance and Repair
Edmunds Price Checker
Edmunds Lease Calculator
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Car_man
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What are the current lease numbers for a 2011 Ford Explorer XLT 4X4 on a 27 and 36 month lease with 10,500 miles per year? Thanks as always and happy New Year.
Do you know the January lease rate and residual for a 2011 Explorer Limited 4WD?
10,500 miles, 36 months. I can register it in either zip code 68103 or 51501. Thanks.
Are there any rebates available for leases?
XLT
24 Month
tier 0-1 .75
36
tier 0-1 2.75
Base Residual
24 (62)
36 (53)
I need the January lease rates for 2011 Explorer XLT 4X4. 27 and 36 months at 10,500 miles. Thanks.
Thanks!
Thanks
so on an ext
24 month lease is now 70%
36 month 67%
the limited
24 65%
36 62%
I am getting a limited next week. The car is amazing. Good luck finding one!
Personally, I would draw the line at 550 for an explorer lease. And preferably would pay 450 or less. Otherwise I would lease a luxury nameplate.
FWIW, you should ask a dealer for a lease quote on an Expedition.You may be surprised....
Stay away from the Honda Pilot lease forum.... you can probably get 2 for what you are considering paying...
I agree with your comments about the high cost of a lease on Ford Explorer. However I am curious about your recommendation to stay away from Honda Pilot lease forum? I am considering the Pilot as an alternative to explorer as dealers will probably negotiate better pricing as it is not a new model.