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Ford Explorer Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hmmmm, it sounds like we have another shady dealer here cwakefield. Ford is currently providing $2,000 customer cash on leases of 2006 Mercury Mountaineer Premier or Convenience models through Ford Credit and $2,500 on leases of Mountaineer Luxury models. In addition to this, it is waiving the first month's lease payment. All of these incentives are compatible with Ford Credit's best lease program. You're not off to a very good start with this dealer. You may need to shop around and find a different dealer to work with.

    Car_man
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  • Carman,
    Is this $1000 match program only on Fords or can it be used against Mercury products?
    Thanks
  • Hi Car Man,. I am new here and have some questions I am hoping you can help me with....I have never leased a veich. Always bought..Now I have a 2001 Chevy Blazer..82k, I would say good to very good shape. 4x4. I want to get an explorer, and like the idea of not having it more than 2 3 yrs at most, but am clueless on LEASES.

    I cannot have a payment per mth more than 250...I owe 3800 on my blazer, and am looking to get enough for it to pay it off and have like 2000-3000 down....

    I do not know what RESIDUAL VALUE, etc APR are can you please explain to me what I should know before going to local ford dealers???? AND is there a diff in getting a lease on a 05 or 06. I think I want the EB being I watn LEATHER and a MOONROOF...is this correct???

    Please give me the ins and outs of leasing the best you can..lol I am clueless. Also, what works diof fwith a lease as far as insurance, maitnaince goes?? thank you SO much!! Karen in NY
  • mike137mike137 Posts: 1
    Just wondering if i got a good deal i put $3000 Down and my payments are $414/month for 24 months then i purchased the wear and tear protection and it got my payment up to $480/month but it is fully loaded leather interior 3rd row seats dvd/tv power moonroof Heated Seats and 18 inch chrome wheels and a 4.6L V8. does not have 4x4 and navigation?
  • Hi!! I posted to you previously...#126 post, and waiting for a response. Please get back to me on answers to my questions. thank you so much! Karen in NY
  • Carman,
    I have a couple of more questions for you,
    Should they be charging an 'upfront tax' on my rebate - it is equaling $125.

    Does Ford Credit make them either charge you for wear care or make you pay a security deposit even if you are coming from a ford credit purchase with no security deposit and a prior ford credit lease 3 years ago. We have great credit. They have not ran a credit app yet, we are still just talking numbers.

    Should they be taking the doc fee out of the purchase price and adding it to the out of pocket? We had negotiated it out of the deal now it showed back up. If we have to pay it, would it not be better to have it in the price so it gets residualized? They said they have to charge it by law.
    Thanks for all your help
  • mtylermtyler Posts: 8
    Hello,
    Does anyone know the current money factor and residual for the 24 month lease?

    Thanks,
    Michelle
  • jon1962jon1962 Posts: 1
    great forum...can you let me know what you think about this deal:

    2006 Eddie Bauer Explorer MSRP 34,350, negotiated down to under $30K
    $1825 initial payment including first payment, security deposit and $1000 matching payment.
    Lease is $401/mth over 24 months, residual is $17K approx (51%?)
  • beach4beach4 Posts: 3
    OK I read the boards, I used the lease calculation directions on Edmunds and after getting lease agreements filled out by three different FORD dealerships I find that they are calculating the Rent Charge (money factor) differently. The way the program (from the dealership )is calculating it is... taking the MSRP and multiply it by the APR (example .00104 is 2.5 apr) and then multiplying that by the number of years that your lease agreement is. For example a Explorer with a MSRP of $39,475 is putting a rent charge at 1986.19
    When I asked them why it was different they said that they have no control how the program calculates it... they put in .00104 in and that is the rent charge they get. They also said not to believe everything you read on Edmunds :P
    I have to buy a car and everyone is doing it so.... I guess I will have to accept this.
    Also can't believe all the fees that every Ford dealer is adding.... doc fee, Aqusition Fee, Wear Care (which they say you have to have if you don't do a down payment)
    Let me know if this is right.
    Thanks
  • The chrome dash bezels create reflections in the windshield and are a bit distracting. I'm talking about the oval trim around the speedo cluster and the two circular trims at the a/c / heat vents. Does anyone know how to properly remove them? I'd like to paint them flat black. thanks
  • I get a kick out of these dealers. Do what I did, tell them what you want to pay. If they say no, leave and find another dealer that will.
  • beach4beach4 Posts: 3
    The problem is in the Atlanta area they are all saying it...even contacted a dealership in Florida and they are doing it also...
  • allnew3allnew3 Posts: 11
    Carman,
    I leased a 2006 Ford Explorer Eddie Bauer on 3/25/06 for 24 months with a 12,000 mile allowance. I received a call from my sales guy Saturday 4/8/06 to come pick up my plates and sign a revised contract. He went on to say that the numbers didn't change, but we screwed up and were absorbing the cost. So today 4/10/06, I called to have them fax a copy of the NEW contract over to read it before heading over to the dealership to sign it. What I found is that they reduced the mileage allowance to 10,500 per year. This Red Carpet Lease contract is 2 weeks old. Can they do that? It seems to me that they are holding my plates as collatoral for signing this new contract, which they pre-dated to the 3/25/06 date. Here are the lease details I signed for originally, MSRP $33,210, Gross Capitalized Cost $29,149.60, Residual Value $20,258.10. Amount due at signing $4928 minus $3500 in rebates and $400 from balance of trade payoff ($1520 out of pocket). Which yields a $250 monthly payment with 12,000 mile/year for 2 years. Was this deal to good to be true?
    Thanks in advance for your help.
  • beach4beach4 Posts: 3
    We had this happen to us on our Pathfinder in December. They did not charge the right tax amount and wanted us to sign a new contract tht would add about $12 extra a month. We said No, that we would return the car.... they ended up absorbing it. I have no legal background but do not believe they can do that. Maybe try to call thier bluff...
  • wgawga Posts: 1
    What am I missing here? I was searching for red carpet lease specials and I ran across these numbers:

    An '06 Explorer Eddie Bauer for $204 per month, 24 months, $1000 down - What's the catch? These numbers are half what I've been seeing locally. :confuse:

    Here's the link:
    http://www.patmillikenford.com/view_specials.htm
  • wreganwregan Posts: 6
    First, thank you for making time for this very informative group. What do you think the current Residual and lease factor or APR would be in my area for a 2006 limited V8 4x4 with a 10,500 mi allowance on a 36 month lease? Also what are the available incentives in April, still only 1,500? what about the 1st month free? Thanks very much.
  • Hi! I have always bought and never leased, I am thinking of leasing a ford explorer eddie bauer or limited..... Please tell me the ins adn outs of leasing...someone! please...lol I have posted before with no response. I have a chevy blazer Id like to trade...2001, 80,000 miles, very good shape. I also wonder witha lease do you have to carry more insur? and what if you get dings dents etc, how are you liable??? do they take you for a killin on those types of things with a lease?? lol thank you so much. feel free to email me at shopchic956@yahoo.com with Re Ford Explorer Lease in sub line..thank you !!!
  • sstoykosstoyko Posts: 8
    I am having the internet manager at my local Ford dealership work-up a lease payment for the following:

    2006 Ford Explorer Eddie Bauer 4x2

    MSRP: $32,775
    X-Plan: $30,180
    Incentive: -$2,000
    Cap Cost: $28,180

    What can I expect on either a 24 or 36 month lease with 15k miles? 0 Down (other than first months)

    Thanks,
    Stephen
    Atlanta, GA
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey cwakefield. The "down payment match" program is only for Ford products. Lincoln / Mercury is running a similar, but slightly different promotion right now called the "Signature Sign & Drive Event." This program will waive the first month's payment on deals through Ford Credit. If you lease a Mercury product right now, your first month's payment, up to a maximum of $750, will be free.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome Karen. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In your post that you mentioned you want to get $2,000 to $3,000 out of your Blazer for a down payment on your lease by trading it in. There's absolutely nothing wrong with trading in a vehicle when leasing, but make sure to have the dealer that you are working with cut you a check for your truck rather than using the proceeds rom it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Explorer would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all.

    Ford is no longer leasing 2005 models. This is often the case late in the model year. The way leases work, vehicles' residuals gradually fall as the model year progresses. The lower a vehicle's residual value is, the more expensive it is to lease. The later in the model year it is, the more expensive it becomes for manufacturers to provide attractive lease payments on vehicles. So, at some point manufacturers stop leasing leftover vehicles and just provide cash incentives on them instead. If you want to lease, you will have to go with a 2006 model at this point.

    Let me know if you have any other questions.

    Car_man
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