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Ford Explorer Lease Questions

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Comments

  • Yes. Sorry 10500
  • Car Man or anyone......

    I need the January lease rates for 2011 Explorer XLT 4X4. 27 and 36 months at 10,500 miles. Thanks.
  • The rates didn't change from dec. The 24 month at .75 is way better than 2.75 at 36 month
  • Sorry if this is an ignorant question, but I see there are some incentives for the 2011 Explorer. However, they are listed as "cash" incentives. Do these only apply to those purchasing the vehicle outright or also to those leasing?
    Thanks!
  • also, any idea on what lease rate and residual will be for XLT for 12,000 miles?
    Thanks
  • Great news on the explorer the residuals have increased 3%

    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!
  • jpp5862jpp5862 NCPosts: 333
    Do you care to share the details on your lease? I'm being quoted around $770 for a Limited 4WD with $0 down for cap cost reduction. Way too high for me, so I'm curious what others are seeing. When I build and price it on ford.com I come up with payments about $100 less, I realize that's just an estimate but I don't see anything that would make it be off that much.
  • I am looking to lease a 2011 Explorer Limited 4wd. I found one with a sticker of $47,605. They said I could have x plan pricing of $44429. I need an 18k mile lease. With no cap reduction they quoted $710 for 36 mos and $783 for 24 mos. Due to the extra miles they said the residual was 59% for 24 mos and 50% for 36. Are these good prices? Also, this is in the Chicago region. Lastly, how does the credit tier ranking work? I checked my credit score on line and my FICO score was 699. Any advice would be appreciated.
  • steevosteevo Posts: 331
    Really need to ask if paying 783 to lease a Ford Explorer is a good deal? Regardless of opinion of vehicle, you should simply compare what else is available. Go to the Acura MDX lease questions forum for examples of good lease prices for an even more expensive vehicle.
    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...
  • jackomojackomo Posts: 11
    Hi Steevo,

    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.
  • steevosteevo Posts: 331
    I was being facetious .... implying that the shock of how much cheaper those leases are would be too much for the op to handle ;)
  • jpp5862jpp5862 NCPosts: 333
    I definitely agree, that's way too much for an Explorer. I would go a little higher than $550 for the Limited 4WD with the 302A package as it includes several premium features such as ventilated seats, adaptive cruise control, BLIS, etc. When you price out a similarly equipped MDX or etc it's pretty pricey, but I still agree, for a $45,000 vehicle $780 is too high.
  • 700 bucks is insane for this car! I am Z plan and I have 3k equity from my previous lease to put towards it. I am going to be around 400 a month on a limited 24 month lease. I was going to get an ML350 but I felt like the limited had way more options ( i know that is wired to say!) They have really upped the explorers. You might want to look at the XLT for 24 months since it has 70% residual right now.
  • bretebrete Posts: 8
    Car man,

    What are the Jan lease #'s on the 4wd xlt. 24 and 36 month leases with 10500 milles. Also what are the current ford factory incentives?

    Thank
  • Hi chuck68516. Ford's lease program varies by region. Let me know what state you are in and I'll be happy to try to find out the details of this vehicle's program in your area.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi petergriffin. Ford Credit's January base lease rate and residual value for a 36 month lease of a 2011 Explorer Limited 4WD with 10,500 miles per year are 2.5% and 54%, respectively.

    I don't believe that Ford is currently providing any cash incentives on leases of this model.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • That is correct, sloretto. The cash incentives that are currently available on the 2011 Explorer are not compatible with its special lease program.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I take back what I said before about the Explorer's lease program being regional. It appears as though Ford is currently running one national program on this model.

    Ford Credit's January base lease rate and residual value for a 24 month lease of a 2011 Explorer XLT 4WD with 10,500 miles per year are 0.75% and 65%, respectively.

    The numbers for an otherwise identical 36 month lease of this truck are 2.5% and 57%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car man quick question. I am getting a limited 10500 lease and just got the numbers from the dealer yesterday. They didn't have the 65% residual. They only had it at 63%. Where did you get your number? that would help reduce the payment. I was told they were going up but weren't posted yet....
  • Here are the correct residuals from Ford

    Limited

    24 month Residual at 12K is 62%, 60% at 15K - 0.75 Rate on both
    36 month Residual at 12K is 53%, 51% at 15K - 2.50 Rate on both

    10,500 miles is 63%
  • sddreamssddreams Posts: 15
    edited January 2011
    Dear Car Man,

    Thank you for all the help you provide on this forum.

    I was just told today that my pre-ordered explorer will be delivered to the dealer during the week of Feb 7th. So I will be taking delivery of my new car sometime mid-Feb. I am in the Northern NJ region.

    Can you advise me as to what I can expect as far as lease terms for either a 36 or 48 month lease and for 12K and 15K miles? I purchased a Limited 4x4, 302A pkg w/moon roof. I have excellent credit (750+) and so would expect that I would qualify for the best possible finance rate available. If you can give me MF rates as well residual rates, that would be great.

    Regarding rebates, when I pre-ordered the car, I was told that I would get a $500 Ford rebate for pre-ordering before 1/3/2011 as well as $1000 bonus customer cash from Ford for a total of $1500 in rebates from Ford. Will I still be able to get this if I lease the car? Are there any other rebates being offered (eg. lease conquest rebates, etc) that I will qualify for?

    Finally, do you know anything about the VIN Etching fee and if I HAVE to pay that ridiculous fee?

    Thank you in advance for any help you can provide me.

    Sam
  • sddreamssddreams Posts: 15
    edited January 2011
    I was quoted $42,500 for a 2011 Explorer Limited, 4x4 with 402A pkg plus dual-pane moonroof. This figure includes the dealer destination fee. I am told that Ford will be giving total of $1500 in rebates ($500 for pre-ordering and $1000 for lease conquest), giving me final price of $41,000 plus tax. I put down a $500 deposit, which I am told is refundable.

    Is this a good deal?

    Let me know your thoughts. Thanks

    Sam
  • sbgurlsbgurl Posts: 3
    edited January 2011
    Hi there,

    I am currently trying to negotiate a company car lease & would really appreciate any help w/ understanding how this works. I am trying to FIRST negotiate the price of the vehicle BEFORE financials. Dealers seem to be hung up on whether there is a trade (N/A of course), what I want to pay per month (no giving that up), etc.

    Here is what I am working with: 36 month lease with15, 000 miles/year & a down payment of $1950. Also will pay sales tax & 1st month's payment (in addition to the $1950).

    For example, here is the information a dealer gave me today on the following vehicle:
    2011 Ford Explorer Limited, 4X4, Rapid Spec 301A Options: White Platinum Exterior, all weather mats, 2nd row dual bucket seats, moon roof, cross bars, 2nd row console, trailer tow pkg & BLIS
    MSRP $46, 195
    Was quoted $44, 590 w/ $2866.78 upfront (down pay $1950 & $750 for Wear Care plus $166.78 for who knows what).
    $666.77 month lease payment.

    This lease payment seems really high for the cost of the car he quoted me. He told me that I either had to get the Wear Care pkg or pay a security deposit on the lease. Is this true? The numbers he gave me were higher than when I figured them on Ford's website, & it seems odd that Wear Care nor a security deposit show up as a required cost on the Ford website. I figured the same lease using 51% as the residual value percentage (I have seen mixed information posted) & came up w/$596 as the best bottom line price. It seems like there is a lot of fluff still there. I live in South Carolina, and our sales tax is capped at $300. Am I missing something here?

    Thank you so much for your help!
  • SBGurl,

    Go to leaseguide.com (free site) that really breaks down how a lease montly payment is determined. Use the figures that you have and plug it into the formula to confrim the price you are being quoted.

    I have never heard of the Wear Care pkg, but will now look into it. Perhaps the host has some more info on this?

    Hope this helps.
  • That payment is WAY high. You're better going with the 24 month anyways. It'll probably be $30-$50 cheaper a month at least. Still sounds like they are trying to scam you. You should easily be able to get invoice pricing.

    Also, waive the Wear Care. It's just another way for dealers to make money. Check the lease turn-in templates and you'll see how big of a joke it is to pay for Wear Care. No security deposit is required either way.
  • sbgurlsbgurl Posts: 3
    Thanks so much for the information about the leaseguide.com website. It looks to be A LOT easier to plug the numbers in than what I used. I had used the formulas from the "Calculating Your Own Lease Payments" article I found on the Edmunds site. The formula I used from Edmund's uses the MSRP and Invoice price of the car, so I ended up with a lower potential payment using that formula. That was helpful because in some cases, I am trying to figure the bottom line lease payment BEFORE I go talk to the salesperson so I don't yet have a price from the dealer. I have bought several cars before using MSRP/Invoice firgures, but leasing is new territory for me. I have an upcoming negotiation class for work, so I would love to be able to have a great story to tell about getting a super deal - especially since this is for a company car! :)

    I have also seen conflicting information on the residual value percentage to use for the 2011 Ford Explorer Limited. I have seen posts from 51% to 62%, so I am not sure which to use. Depending on which factor, it makes a huge difference in the payment. I thought I saw that someone had posted that the RVP was different for different regions, so if anyone knows what the correct number is for South Carolina or the Southeast, I would appreciate it!

    Many thanks to the host and all who post here. I have found some very helpful information!
  • sbgurlsbgurl Posts: 3
    Hi djhalptert,

    I thought that sounded high. Unfortunately, it is company policy to have a 36 month lease, so I do not have a choice there. Based on the formula I used from the Edmunds.com article, "Calculate Your Own Lease Payment," I was able to either get a payment of $460 (using residual value percentage of 62%) or $596 (using residual value percentage of 51%). I calculated it with both since I have seen conflicting information as to which is correct. Do you know which one is right?

    The dealer told me that with the Ford Red Carpet Lease, I had to either have the Wear Care or I had to pay a security deposit. I am really irritated about how insistent the salesman was about me having to choose one or the other. I am so thankful to have access to folks here who are much more knowledgeable about this process! Many thanks!
  • You need to quit talking to the dealer you got that quote from. They are trying to upsell you on the Wear Care. It IS OPTIONAL. It is 100% designed for dealer profit. Ford does not REQUIRE a security deposit on it's RCL programs. Any dealer that tells you differently is lying.

    I would start emailing 5 of you nearest Ford dealers. Ask them for their lowest sale price on a specific Explorer. When they respond, then ask what the lease rate and residual is for 36 months, 15,000 miles per year. Check them against the other dealers.

    To calculate a lease you'll need the following info:
    MSRP
    Sale Price
    Dealer Fees
    Sales Tax/DMV Fees (if any)
    Lease Rate
    Residual
    Down Payment/Trade
    Don't forget to add $595 Acquisition Fee also. This is required by Ford.
  • Do you have any idea what February lease numbers look like? How are you able to obtain these figures?

    Thank you
  • When the lease prices get better for an explorer 2011-and why can I get a pathfinder nissan sv for a lease of 460 all included taxes and all. Forgive me I don't undersand anything about cars but will the expplorer have any better prices in june 2011?

    I can't afford more than about 460. Am I looking at the wrong car?
This discussion has been closed.