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Ford Explorer Lease Questions

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  • denisempmp1denisempmp1 Member Posts: 14
    Was 390 including tax. where are you located and what dealership? does your vehicle have awd and what was the msrp of your vehicle?
  • ryan1222ryan1222 Member Posts: 1
    Hey Car Man,

    Thanks for all your help.

    2011 Ford Explorer Limited. Sticker is $46950. I was quoted the following. Seems high..would you know what the current ford details are Res, MF, MF, etc.

    36 month lease $585.00 per month with $3185 down
    24 month lease $610.00 per month with $2700 down.

    Thank You,

    Ryan
  • ctownerctowner Member Posts: 13
    djhalptert--Would love to know where you leased from.
  • aurdiazaurdiaz Member Posts: 2
    I live in Northern New Jersey and just ordered a 2011 Ford Explorer XLT 4WD with the 202A package and remote starter with MSRP $37,603. I got quoted for $429 a month for a 36 Month lease, with 10,500 miles a year and $3,000 out of pocket. Is this a decent deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information jju.

    According to my calculations, if you were to lease a 2011 Ford Explorer Limited FWD that has an MSRP of $44,200 and a selling price of $42,700 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $617.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Jju7777. I just worked up a payment on the truck that you described and I came up with over $600 per month even with your ability to get the X-Plan price. The new Explorer is really nice, but to me that's just too much money to pay for one. I'm sure that some people will disagree.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HI Ryan. Ford Credit's current base lease rate for a 24 month lease of the 2011 Explorer is 0.75%. The base lease rate for a 36 month lease of this truck is 2.5%.

    The 15,000 mile per year residual values for an '11 Explorer Limited AWD are 59% for 24 months and 51% for 36 months.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aurdiaz. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing this truck's selling price it is more difficult to tell how large a dealer discount you are being given and in turn whether there is any room left to negotiate. Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will gladly let you know what they think.

    Car_man
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  • aurdiazaurdiaz Member Posts: 2
    The final negotiated prices was $35,845. I already ordered the car and put a deposit, so hopefully I ended up getting a good price. The final order was Explorer XLT with the 202A package and remote starter in the tri-coat white with black leather. It's $3000 out of pocket and $430 a month.
  • mikeyp3fbmikeyp3fb Member Posts: 1
    I am looking at a 39 month lease on a 2011 Explorer Ltd FWD. Can you confirm what the residual value and base lease rate for this vehicle would be on both 12,500 and 15,000 miles per year? I am told that the LTD is 49% while the XLT is 52% on 39months at 15k. But i had been told previously that it was 52% on each. Just wanting to be sure I get the best available info. I'm a 720+ score, so top tier pricing shouldn't be an issue. MSRP is 46,355 as optioned (302A, dual panel moonroof, 20" polished wheels, all weather floormats and dual headrest DVD. Agreed at 44,394 plus TTL, which I think is a good deal, so just needing to confirm the residuals/rates I should be getting. Hopefully going to put down a deposit in a couple of hours. :-)
  • ctownerctowner Member Posts: 13
    Car man,

    What are your thoughts on the following 36-month, 12k mile lease no-money down?

    2011 Explorer XLT
    202A pkg. plus sun/moon roof and navigation
    MSRP of $39,235
    Sales price $37,860
    Residual 57%
    Int. rate 2.5% thru FMC

    Mo. payment $596 (includes base payment @ $510 plus CT sales tax @ 6%/$34 and property tax @ $52)

    Upfronts: $566 first month payment, $595 acquisition, ~$250 for license/tags, $75 doc. fee
  • ctownerctowner Member Posts: 13
    Additional inquiry, Car Man...

    Two dealers have told me that Ford Motor Credit includes property tax in the monthly payment instead of billing you annually after they pay the taxes on your behalf as the other two car companies we've worked with do. Are you familiar with this? How common a practice is it?
  • fordcustsrvcfordcustsrvc Member Posts: 27
    ctowner,

    This is Seni with Ford Customer Service. Please contact Ford Credit directly at 800-727-7000 or visit www.FordCredit.com for more information on property tax. You can also contact them for additional information on the benefits of financing through Ford Credit, or answers to questions on an existing loan or lease.

    Seni
    Ford Customer Service Division
  • nvdazenvdaze Member Posts: 1
    Hello All -

    Been reading through this thread recently and just wanted to confirm what people are hearing on March lease base rates from FMC for well-qualified individuals for a 36-month lease on Limited/XLT models? I've seen different numbers posted, and I was quoted 3.5% from the dealer I'm currently working with in Philadelphia. I just want to be sure what FMC is actually offering in March so I can be better equipped in my negotiations.

    Thanks for any info!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks for the additional information aurdiaz. The dealer invoice price of the truck that you described is around $34,900. That probably puts your selling price at around $1,000 over invoice, which isn't bad.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mikeyp3fb. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2011 Explorer Limited FWD with 15,000 miles per year are 2.75% and 48%, respectively.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ctowner. I believe that the previous poster was at around $1,000 over dealer invoice. Your deal looks higher than that. I would try to get this dealer to come down a little on the price or try comparison shopping a little. You can look up this truck's exact invoice price over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • subearusubearu Member Posts: 3,613
    edited April 2011
    Did a "build your own" on the Ford website for a 4wd XLT with rapid spec 202a, nav, blis, floor mats, dual panel moonroof, power lift gate, towing pkg, 20" wheels for a MSRP of $42,065. Just so happens the dealer near me has one like this on the lot, but the Ford inventory shows it as "dealer ordered".

    They have a payment calculator based on that price showing a lease for 2yr 10,500 miles/year with $4k down or trade at a monthly rate of $433 per month. On the surface, is their lease decent? Seems like it is subsidized or just a real favorable residual, but they don't show that on their calculator. I know our trade would yield the $4k, and I would expect to NOT pay MSRP either.

    -Brian
  • denisempmp1denisempmp1 Member Posts: 14
    When will ford actually put a lot of these vehicles on the lot instead of like two that end up selling?
    Want to see the vehicle in person in various colors, etc.
    Does anyone know. can't seem to get an answer..
  • miquelnymiquelny Member Posts: 6
    To ctowner and others

    Guys, I am reading the chat here and I cant believe this: Ford is trying to rip off everybody. Do you guys realize that $600 per month will buy you MB or BMW trucks with very little money down. Ford has an ad right here on this site from tristatedealers for new Explorer: $299 per month with $4000 down, that is the right price for Ford Explorer, no penny more, I would say even that its on the high side... I am reading this chat, because I am looking to buy the new Explorer and I will not pay more. I guess I cant buy it, these prices quoted here on this site are absolutely ridiculous...
    Thanks and good luck!
  • piepiezzz1piepiezzz1 Member Posts: 5
    Yes, I have to say some of these prices are way out of whack. I just ordered an XLT 4 WD with :

    -Package 202A
    -20" wheels
    -Double sunroof
    -White Platinum Paint

    MSRP $40,130

    Lease Deal :

    Write a check for $1,000 and $480 month. This explorer is loaded.
  • denisempmp1denisempmp1 Member Posts: 14
    Where did you buy your car from piepiezzz1?
    I'm getting some really crappy quotes myself.

    last one I got was 508 all taxes included on an XLT 4wd with the rear camera package, etc. (valued at 1500)

    first payment and plates down. 12k permiles year, 36 months

    what the heck is wrong with these deals?
  • piepiezzz1piepiezzz1 Member Posts: 5
    I am in Western New York. The only reason I posted was because I always come on here to see where teh market is at and comare to the deals I am being quoted.

    You actually get a better deal if you arder package 202A (w/leather) because it residualizes the full amount of teh package but Ford gives you $720 in "Rapid Spec Discount".

    I would push for X-plan pricing. I work for a large company down the road from the dealer and they told me "I believe we do X-plan pricing with you, but if not, I'll give it to you anyway."

    I had been previously quoted $507/month with $700 due at delivery.

    Keep getting quotes and push for X-plan pricing.
  • ctownerctowner Member Posts: 13
    piepiezzz1 can you please name the dealership where you got this deal?
  • piepiezzz1piepiezzz1 Member Posts: 5
    Dave Smith Ford
    Williamsville, NY
  • ctownerctowner Member Posts: 13
    Car Man-Did the money factor change after April 4th for Ford? Can you confirm what it is for a 24 mo lease and a 36 mo lease as of today, April 6?
  • ctownerctowner Member Posts: 13
    Thank you for the dealership name. How long is the lease? What residual and money factor did they use?
  • piepiezzz1piepiezzz1 Member Posts: 5
    39/39 sign and drive

    Didn't car about residual and money factor. Lease was a great deal compared to everything else I had been shopping.

    Durango wanted $799 month for a $40K MSRP less equipped.

    I jumed on the deal. Beter deal than on a loaded chevy traverse and I have GM pricing.
  • psywzrdpsywzrd Member Posts: 35
    car_man or kyfdx:

    Can you please post the residual and money factor for a 39-month, 12,000 miles per year lease on a Ford Explorer Limited? Thank you.
  • asifpasifp Member Posts: 5
    I got a lease quote from ford dealer in NJ...for 2011 explorer XLT 4WD with 202A package 2500$ out of packet 24month lease 471$ for 12000 miles/year and 495$ for 15000 miles per year..I think msrp is around 38000$...what should be the reasonable value for this? or is this price OK?
  • rti_wizrti_wiz Member Posts: 1
    edited April 2011
    I was told residual was 54% and APR was 5% for 36 month/ 12K miles. This was for a LTD and got this quote on 4/6. APR seems high, given I was reading a rate of 2.5 last month. I'm in MA, by the way.

    I have a LTD on order (was a dealer ordered vehicle). Should be arriving in a few weeks.

    Can someone confirm these terms?

    Thanks.
  • ctownerctowner Member Posts: 13
    Confirming the finance charge/MF? Ha! The dealers all claim that Ford Motor Credit sets the financing rates. Ford Motor Credit, however, won't confirm what the rates are and tell you to ask the dealers. The only place you might be able to get confirmation is here but it may not be in the time that you need it.

    Auto leasing is a really stellar system thoroughly designed to screw the prospective buyer. Beyond not being able in any way, shape or form confirm with certainty the current lease rates I've had these snakes ask for $400 documentation fees (a total rip off), tack on nearly a $1,000 on top of Ford's $3,075 202A package/retail price (like I wouldn't notice) and try to add well over $500 in advertising fees (totally off the charts).

    I can't think of any other product or service in my life where pricing is such a mystery and you have to launch a near-manhunt for what should be a readily available figures--out in the open and available to all at any time. The extreme trickery involved in all of this leasing business is %^$ing nonsense. That this practice is condoned in the U.S. is criminal.

    Sorry for the rant, all. But pretty fed up with the whole business.
  • miquelnymiquelny Member Posts: 6
    Since the pricing is a total mystery, only thing counts is the total amount of money you spend compare to buying other similar cars. With $2500 out of pocket you should not pay more than $400 per month for this car... Keep shopping around... I will keep everybody posted with current quotes. I just got a quote for a base model 31K: for 2K out of pocket and $300 per month... I did not take it, did not like the base model... People, please keep posting prices here, will help everybody!
    Thanks
  • miquelnymiquelny Member Posts: 6
    Guys, I have stopped looking for the Explorer, after receiving this quote today:
    MSRP $37000 (XLT with 202)
    $4500 out of pocket
    $450 per month
    36K miles/36 months

    For does not want to lease these cars. If you love the car, you have to buy it. It would
    cost $570 per month to buy, much better deal. When you lease the car for 36 months, you only use half of the car, so this car should cost $285 per month (with heavy downpayment $4500). This is just another way you have to look at the leasing, to make sense of it...
    Good luck everybody!
  • DTOMDTOM Member Posts: 6
    edited April 2011
    Ford dealer in Sunnyvale CA just quoted me
    XLT with 202A and nav
    $37495
    24 months
    12k miles
    $2k down
    $648 a month
    800+ credit score

    BMW is cheeper!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ctowner. Ford Credit's current base lease rate for a 24 month lease of a 2011 Explorer is 2.25%. The rate for a 36 month lease is 4.0%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey psywzrd. Ford Credit's current base lease rate and residual value for a 39 month lease of a 39 month lease of a 2011 Ford Explorer Limited AWD with 12,000 miles per year are 4.25% and 54%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rti_wiz. The lease rate that you were quoted is a little high. Ford Credit's current base rate for 36 month leases is 4.0%. The 54% residual value that you were quoted is correct.

    Car_man
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  • tmacnytmacny Member Posts: 1
    Explorer XLT with 202A package only
    MSRP-35230
    Price-33497
    Down-3000
    36 month
    15000 mile
    4% apr
    54 % resid
    $411.00 a month
  • azbmwx5azbmwx5 Member Posts: 10
    Hi CarMan:

    Can you please give me the Ford Motor Credit lease details for an Explorer Limited FWD, 2 year deal, 10K or 10.5K miles per year? I need the rate or mf, residual %, bank fee for the May month. I had ordered a truck in March when the deals looked decent, but now that it is being delivered it looks like a less attractive option. I appreciate your help!
  • azbmwx5azbmwx5 Member Posts: 10
    I still need help on this. I may have to make decision this week. Any info would help! Thanks so much!
  • is95a1is95a1 Member Posts: 7
    Deal my girlfriend got this weekend....think we did pretty well. Went in there asking for Costco pricing (invoice minus $300 and the $500 rebate) but got better. Leased a 4WD XLT with 202A package, dual moon-roof, 20" wheels, side mirror warning sysytem. Going from memory, this was our deal:
    MSRP $39,700 (incl dest)
    Purchase Price $35,700 not including $500 rebate
    Trade-in $20,000 (CarMax match)
    Equity of $3835 put down plus $500 rebate, totaling $4335
    3yr lease, 15k/year
    Payment $419/mo
    Rent charge 4%
    Only thing that bothered me was that they wouldnt show me the money factor or "APR"...total rent charge was around $3300 though
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi azbmwx5. Ford Motor Credit's May base lease rate and residual value for a 24 month lease of a 2011 Explorer Limited FWD with 10,000 miles per year are 2.25% and 63%, respectively.

    Car_man
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  • alexm234alexm234 Member Posts: 10
    Considering the Explorer with this type of payment...where did you buy from, also what was your residual value?
  • azbmwx5azbmwx5 Member Posts: 10
    Hi Car_man. Thank you for the information. I was able to reach an agreement with my dealer at the buy rates that you provided on the Limited. I am very happy with the vehicle. Thanks again for your ongoing support!
  • chuckg67chuckg67 Member Posts: 1
    Hey Car_Man: Help! Tough day at the dealer. I had pricing info from Edmunds and AMEX, and April's lease rates (posted above). But the dealer wasn't interested in my pricing info and disputed the lease rates. So I walked out. I was hoping you could give some current info. Please post the lease rates and residuals for an Explorer Limited AWD, 39 month lease, at 10.5K and 12K miles, for May and June (if they're out yet). Also, are there any incentives I should know about?
  • kapnetkapnet Member Posts: 1
    Hi all,

    2011 Explorer XLT 4WD 201A pkg + PWR Liftgate

    Just quoted 518/month x 36 with $3200 upfront (NY taxes/fees?/dmv/1st month)... 12k miles/yr

    MSRP 36750
    Agreed Price 35883

    MF: 0.00167 (4%) and 57% residual

    Any thoughts?

    Thank you very much in advance!

    SK
  • miquelnymiquelny Member Posts: 6
    For this money, you can buy Mercedes ML 350, do you really wanna drive the Ford so bad?
    I just bought Jeep Grand Cherokee, better car and better price.... Walked out from Ford dealership about 30 days ago, after receiving similar quote and will never go back, total ripoff!

    Good luck!
  • mmasteryo1mmasteryo1 Member Posts: 3
    Hi Car Man,

    Good morning. Do you have the figures for a 2011 Ford Explorer Limited for the month of June 2011? 36-month, 24-month, 10,500 and 12,000 miles per year.

    Specifically, have the numbers for the 24-month lease changed? They were 62% residual and 2.25% APR for May on a 12K per year.

    Thank-you!
  • ctownerctowner Member Posts: 13
    edited June 2011
    I gave up on pursuing an Explorer a while ago. Not only did the pricing seem really high relative to the brand and the vehicle itself but the dealers, at the time I was looking, didn't physically have Explorers on the lots and I couldn't risk being without a car waiting for one specially ordered to be delivered.

    Happily, I bought a 2009 certified pre-owned ML350 instead and I love it. And the payments, thanks to MB's aggressive financing offer of 1.99% for 5.5 years, work out to be the same as the Ford Explorer lease would have at $560. Audi too, has been advertising aggressive financing options on pre-owned vehicles. While I still think the new Explorer is a great SUV, Miguelny is right in suggesting people consider other options.

    Good luck all.
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