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Ford Expedition Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cromano. You never mentioned the selling price or MSRP of the Expedition that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • gkirk007gkirk007 Member Posts: 1
    CarMan,
    I live in SC (10 miles from NC), and am looking to lease a 07 Expedition EL Eddie Bauer 2wd, 36mon 12k miles yr. MSRP was $46405, but they are quoting me $98 over invoice ($42682.84) total $42780.84. 3.75%, w factor of .50, payment $663.79. with $1689.79 upfront. How do I determine if this is a good deal? I have copy of invoice that shows hold back of $1370, A&Z Plan $, D Plan $ and X Plan amount. What does all this mean? They didn't mention any incentives. Are they keeping any cash backs deals and not letting me in on it?
  • chucky380chucky380 Member Posts: 4
    thanks.. have u ever heard of there being a tax on rebates?
  • hardhawkhardhawk Member Posts: 702
    You always pay sales tax on the sale price before rebate then the rebate is applied to that price. At least that is the way it has always been here in Kansas. Always sort of hit me wrong, but that is the way it has always been.
  • hilliergrouphilliergroup Member Posts: 1
    THIS IS THE INFORMATION (E-MAIL) I GOT FROM AN UPSTATE NY FORD DEALER ABOUT A 2007 FORD EXPEDITION XLT 4WD LOADED. "YOUR PAYMENTSFOR A 36 MONTH/36000 MILE LEASE WITH AN X PLAN (HAVE A FAMILY MEMBER WILLING TO GIVE ME HER X PLAN OPTION) WOULD BE $464 PLUS TAX AND FEES. THE MSRP IS $39,115 AND YOUR RETAIL X PLAN PRICE WOULD BE $34,270.95.

    I HAVE ALWAYS LEASED A GM AND KNOW HOW THEY FIGURE LEASES. I GOT NO MORE INFO FROM THE DEALER THAN ABOVE.

    DOES IT SOUND OK? SHOULD IT BE LESS PER MONTH? I WANT TO PUT NOTHING DOWN, AND USE CASH FOR SALES TAX, AND FEES.

    ANY ADVICE. I WOULD APPRECIATE IT.
  • mjtaysdadmjtaysdad Member Posts: 9
    Carman,

    I was wondering if you could tell me the current Ford deals for a 36 month (15K/yr) lease on a 2007 Expedition EB -- do you know the MF and the residual? I am looking to shop this week, but I want to be armed with data before going to the dealer. Many Thanks!
  • suvmom1suvmom1 Member Posts: 1
    We leased an XLT yesterday and didn't shop around at all....so now i am trying to figure out whether we got a good deal or not. Sticker price was very close to 40k. We put 2500 down + first payment of $480. (which includes ttl) 39 month lease and 12k miles/yr. How did we do? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gkirk007. $98 over dealer invoice is a very good deal for a lease of a 2007 Ford Expedition, as long the $2,000 lease cash that Ford is providing on this truck right now is then subtracted from that. Also, make sure that the dealer that you are working with uses Ford Credit's current 36 month base lease rate of 2.0% to calculate your truck's monthly payment. Unless you are eligible for Ford's employee or supplier purchase programs, don't worry about all of the A, X, Z, D-Plan numbers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello hilliergroup. If you are leasing this truck using Ford's X-Plan then you are in great shape. This program will provide you with a great selling price without the need to haggle with dealers. You probably should double check that the dealer you are working with us using Ford Credit's current 36 month base lease rate of 2.0% to calculate your lease payment, but I suspect that they are. If you like the truck, I personally don't see any reason not to go for this deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, mjtaysdad. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Expedition Eddie Bauer 4WD with 15,000 miles per year are 2.0% and 46%, respectively. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi suvmom1. You never mentioned the selling price of the Expedition that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • ram87ram87 Member Posts: 1
    Thanks for all this great info. I'm a newbie to leasing and wish to lease an 07 Expedition Limited. I understand about negotiating the price of the vehicle just like purchasing. But what would be considered good factors for my area? I live in san jose ca and received a quote of $43,585(invoice price) for a purchase. I would like to lease this vehicle plus install options like bluetooth. Do the extra options get rolled into the lease? I'm looking at a 36 month 15k miles per year deal. Can I apply the $2000 cash back towards my upfront costs? Thanks a bunch
  • chrodchrod Member Posts: 3
    Please help I need to know the Residual rates on a 2007 Expedition for a 36 month lease and a 48 month lease. I live in California and want to buy this weekend. I also show a 2.0% lease rate for the 36 and a 4.2% for a 48 are these correct?
    Thanks for all your help!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, ram87. 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.

    Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Expedition Limited 2WD with 15,000 miles per year are 2.0% and 44%, respectively. You should be able to fully residualize any factory-installed options and roll them into your lease payment. Dealer invoice is an excellent selling price for this truck, if you are able to have the $2,000 lease cash that is available on it subtracted from that before calculating your lease payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi chrod. Here's the information that you are looking for. This truck's lease program varies by trim level, so for now I will assume that you are interested in the 2007 Expedition XLT 2WD. Let me know if you want a different version. Ford Credit's current base lease rate and residual value for a 36 month lease of an '07 Expedition XLT 2WD with 15,000 miles per year are 2.0% and 44%, respectively. The numbers for an otherwise identical 48 month lease are 4.25% and 36%. When negotiating your lease on this truck, make sure to take advantage of the $2,000 lease cash that is available on it.

    Car_man
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  • curtecurte Member Posts: 4
    I'm looking for the base lease rate and residual for 2007 Expedition XLT 2WD with leather, comfort, appearance, convenience packages and moonroof, manual 3rd row seat, premium radio and SAT radio (located in South Carolina)...I see above lots of info on a 36 month lease with 15,000...I'm interested in 24 month lease with 12,000 and 15,000 and also a 36 month lease with 12,000. MSRP is $36,850 - the dealer has offered an "invoice" price of $34,489 with $2,000 lease cash off of that and $4,000 off for my trade of a 99 Jeep GrCherokee
  • fletch58fletch58 Member Posts: 19
    I qualify for the X program. I got good number but want to gamble that Ford will up the rebate from 2K to 3K soon. I have a M35 lease that I can extend month to month so I have no urgency to pull the trigger until the numbers get where I want. Car Man or anyone else, if you follow Ford closely, I live in central Florida and within 50 miles along there msut be 250 of them. Any bets on what the rebate will do next month or the month after ?
  • sakpeg100sakpeg100 Member Posts: 1
    Hi, i am new to the boards but love all the information. I have gotten a quote on a EB explorer 2007, 39 months, 15,000 miles per year, no money down, first months payment upon pickup. Dealer said everything but navigation package. He said we are looking at 508.00 per month. Is this a good deal? Oh, we are in allentown, PA.

    thanks,

    Scott
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, curte. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2007 Expedition XLT 2WD with 15,000 miles per year are 1.0% and 51%, respectively. The numbers for an otherwise identical 36 month lease are 2.5% and 44%, respectively. If you were to lease this truck with 12,000 miles per year, its residual values would be 2% higher. Dealer invoice minus all of the available cash incentives is a good price for a lease of this vehicle.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey fletch58. It looks like your gamble paid off. Right after you posted this Ford introduced $2,007 bonus cash on the 2007 Expedition. I believe that this incentive is available on top of the $2,000 lease cash that Ford is already providing on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome Scott. You never mentioned the selling price or MSRP of the Expedition that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • mavericknolemavericknole Member Posts: 1
    Car Man,
    I am trying to figure out what a lease package would be with the numbers listed below… I was thinking that since it is a 2007 that the selling price should be around $34,500 to $35,000 after rebate. Please let me know you thoughts and what the average lease price would be on the vehicle listed below. Base the lease package on 3 year / 36,000 miles...

    Thank you…Any help would be greatly appreciated

    2007 Ford Expedition Eddie Bauer 2WD
    MSRP $40,055
    INVOICE $38,138
    Rebate ($2007)

    Total $36,131.00
  • philly70philly70 Member Posts: 6
    Shopping comparable full-size SUVs. Expedition Ltd w/DVD,Navi,Moonroof, Trailer package. MSRP $46,315. $1500 cap cost red., 10500 miles, 36 months - lowest dealer quote $583.48 including tax. Seems like a decent deal, if not out-of-line according to Edmunds TMV and lease calc. Anyone know dealer inputs (money factor/depreciation)?
  • hardhawkhardhawk Member Posts: 702
    The residual for a 36 month, 10,500 mile per year lease is 48% for a 4WD model and 47% for a RWD. Interest rate for 36 month lease is 2.5%. All this is per my dealer. Hope this helps.
  • antnecantnec Member Posts: 3
    hello Car Man

    thanks for all the info

    the car will be leased from either a
    NE Pa. NJ, NY or Ct. dealer

    2008 Expedition Limited EL 4x4
    MSRP 50,275
    24 month
    19,500
    no money down
    1,029 a month out the door (including tax and title etc)

    he didn't mention a security deposit

    he told me the Value would be 52% from 56% due to losing 1% for every 1,500 miles over 15,000
    vs a 2007 at 52% - 4% due to mileage and a 2,000 rebate

    the value is 52% of what ever I pay for it in this case it is rated on $50,275?
    Money factor was 1% if I divide this 1% by 2400 I get 0.0000041666666667 is this the correct number to use?

    Does the dealer get a holdback for a customer ordered car?
    This dealer is also a Certified Blue dealer.
    He also told me that he was sure that he will give the best price around. I don't know how much if he did take off, since I just wanted to get an idea of lease payments and I didn't even start neg. price.

    So just wondering if I'm using the numbers correctly
    52% of what and finding the money factor so I can plug those numbers in and do it myself

    thanks
    Anthony
    Bronx NY
  • jyoz1jyoz1 Member Posts: 6
    Carman: I saw in an early post (FLETCH58) that you had said that the Ford $2007 rebate cash may also be able to be added to the $2000 lease cashback, is this true? I was about to sign on the dotted line for a 2007 Tahoe, but GM does offer the $2000 rebate they advertise to people who lease the Tahoe. Needless to say not very happy about this, and it will be a dealbreaker. Please let me know if the offers can be combined. Thank you
  • jyoz1jyoz1 Member Posts: 6
    Sorry what I meant to say was that GM does NOT offer the $2000 rebate they advertise to people who lease the Tahoe.
  • hardhawkhardhawk Member Posts: 702
    I don't think the $2007 can be added to the $2000 lease cash on the Ford. The Ford web site shows the $2000 for leases and the $2007 for purchases.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mavericknole. Let's work up a lease payment on the truck that you are interested in and see what we come up with. I will use a selling price of $500 over invoice minus the $2,000 lease cash that is currently available on it. According to my calculations, if you were to lease a 2007 Ford Expedition Eddie Bauer 2WD that has an MSRP of $40,055 and a selling price of $36,638 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $542.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Anthony. Wow, $1,000 per month is way too much money to pay to lease any Ford product. Heck, you can lease a BMW 7-Series for less than that. I personally would pass on this deal.

    I was just looking at '08 Expedition EL pricing and I was having a hard time finding one that would have an MSRP of $50,000. How is this truck equipped? Regardless of how it is equipped you need to find out what this truck's selling price is. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this truck's selling price is, it is difficult to tell how good a deal you are getting on it.

    Ford Credit's current base lease rate for a 24 month lease of a 2008 Ford Expedition EL Eddie Bauer AWD is only 1.0%. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. you can convert its published lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • goodyedmundsgoodyedmunds Member Posts: 1
    Car Man - long time reader, first time poster - I could use some specific help now, beyond all of the general help I've had in the past

    I've been back in forth on the '08 Tahoe and the '08 Expedition. The Expedition proposal that I am closest to right now is as such:

    The dealer's MSRP quote on the '08 Limited built out the way I want matches the Edmunds built out MSRP of $47,910. The dealer tells me that he is selling at invoice to me, which he quotes as $44,200. Even if I add in the $300 for the chrome grill they are putting into the Limited (you can't order it as an option from the factory and we don't like the body color grill) he is still a little north of the Edmunds invoice quote. So be it for now:

    Can you offer an opinion on the whole package:
    MSRP $47,910 (or $48,210 if you want to add the grill here)
    Invoice quote of $44,200
    12m miles/$634 a month/and a $2,500 check for whatever else (inceptions, cap cost, I don't think I care how they use it do I)

    The uncomfortable part is that he is telling me that the program can change by the time the truck gets delivered - say mid to late October. How does anyone sign on for that? I think I know my payments but then they change when I actually get it? He says the current program is a $500 rebate, 3.25%, and a 48% residual.

    I'll take anyone's advice - thumbs up or down? Many thanks.

    For what it's worth this is being done in Central/Northern New Jersey.
  • antnecantnec Member Posts: 3
    Hello Car Man
    To answer your questions in addition to every number the dealer gave me that is figured in the prices below. So here we go, thanks again

    2008 Ford Expedition 4x4 EL (600A order code)
    everything below is in the purchase price of $46,673.08 from the dealer's
    "VEHICLE ORDER CONFIRMATION" SHEET
    Skid Plate
    Daytime running lights
    Power moonroof
    rubber floor mats
    rearview camera
    trailer tow
    navigation
    chrome rack with cross bars
    power lift gate
    rear seat entertainment
    8 U.S. Gal gas charge $24.08
    FDAF assessment $578
    Dest and Deliver $900
    all for $46,173.08 plus $500 his commission = 46,673.08
    and an additional 25 gallons of gas (full tank on delivery is in this price)

    now he gave me a copy of the "Deal Worksheet" with the following numbers from his
    Lease Work sheet from Ford's dealer website

    FIRST COLUMN
    Lease Source - RCL
    Price -$46,740.00 ($66.92 more then his quote price)
    trade in amt - $0.00
    trade in payoff - $0.00
    cash down - $0.00 (no check mark in the box next to this number)
    Rebates -$500.00 (no check mark in the box next to this number)
    Lease Rate - 1
    Term -24
    payment per yr - 12
    next payment due
    MSRP - $50,420.00
    other - $0.00

    SECOND COLUMN
    Insurance -none
    credti life -none 0.00 (a check mark in check box)
    credit A/H -none 0.00 (a check mark in check box)
    ext. srv -none 395.00 (Red Carpet Lease wear care) (check mark in check box)
    ext. srv plan code- blank
    garage location
    Mileage Allowed -15,000 (.20 mile over 30,000 at the end of 24 months)
    mileage purchase - 0
    mileage cost -$0.15

    THIRD COLUMN
    residual % 56 - $28,235.20
    sales tax% 8.375 - $1,844.58 (check mark in check box)
    property tax - 0.00 (no check mark in box)
    luxyrt tax - 0.00 (no check mark in box)
    office fees - $57.50 (no check box available)
    title/reg - $45.00 (check mark in check box)
    license/lien - 0.00
    soft adds - 0.00
    ACQ Fee - $595.00 (what is this) (check mark in check box)
    security deposit - $0.00

    TWO BOXES DOWN AT THE BOTTOM SAID
    amount due at signing ------- monthly payment
    $1,40.09 ------- $903.09

    I would also get any additional rebates at the time the car
    was delivered if anything better was in affect at the time of delivery.
    which he was told by his rep that these cars are "FREE WHEELING", built in 4 weeks and up to 2 weeks to deliver. Not unless if ordering the power running boards the built time could be doubled.

    Also if he was to order this car he would need a $500 deposit
    that would be applied to the $1,403.09 so all I need at pick up is $903.09

    he also told me if I order this in silver and were to change my mind he would give the $500 deposit back, if I ordered any other color I would lose the deposit. so happens I like the silver car anyway.

    So is this a deal worth going for?
    Is this dealership giving me more info that usual?
    Is Ford strict when they evaluate the car at the end of the lease? The dealer said Ford wants you back so they are somewhat lenient. He wasn't pushing the Red lease care package. But Ieft it in for now.
    (I am planning on buying car seat covers with 4 car seats in the car)
    I noticed he used the Residual valvue against the MSRP price is the correct?
    Which number did he get the tax of $1,844.58 from?
    ACQ Fee do you know what that is for?
    Also I found strange is that he told me in writing .20 cents per mile over 30K at the end of 24 months and another dealer told me
    .25 cents a mile over $30,000 at the end of the 24 months. Who is correct?

    This is every piece of info that I have from the dealer, he gave me all print outs off the computer from Ford's dealership website.

    Hope I gave you all the info you need to determine if the $903 is good or not?
    Is this dealer on the level with everything he supplied?

    what would the payment be if I was to put 1,000 or 2,000 down?

    Thanks again
    Anthony
    bx, ny
  • rob052067rob052067 Member Posts: 8
    CarMan,

    Aside from the residual differences between 2WD and 4WD models, does FMC have any other adjustments to the residual percentage based on vehicle features? My main question is if there are any residual deductions on XLT models with the front split-bench seat and/or no 3rd row seat? Also, what's residual bump for mileage lower than 10k vs 12k/yr? Is there an 8k option?

    Thanks!
  • macsnjetsmacsnjets Member Posts: 4
    Hi Car man, I'm looking to lease an Expedition in the Northeast. I have in mind an 4x4 XLT with a MSRP of $39,875.00. Hypothetically speaking if I can get the price to 34,500 including discounts, incentives and negotiations and lease for 39 months(& 39000miles) what can I expect the figures to be ? I'm coming up with a monthly payment of $463 (without doc fees and tags, etc) using a residual of 47%, money factor of .00104, 7% sales tax and a down payment of $1000. How far off am I with my figures ?

    Thank you
  • gonecruzangonecruzan Member Posts: 13
    Hey Carman, I'm back. My lease of my '06 EB Explorer is up in Nov. and I am ready to move on. I am looking to go a little bigger as I am 6'2 and the explorer is not as big as I would like it to be. Soooo, that being said. I am looking at 2008 Expedition Limited 4x4 with 2 options only. Navigation and rear bucket seating. The total MSRP is $44.670 with a Dealer invoice of $41,106. I am looking to lease this with 10k miles a year allowance. Now my question is this. On my explorer, I only have 14k when my allowance was 21k. Can I use any of that towards the deal? Thank you for your time carman. This forum is great!
  • dylcondylcon Member Posts: 8
    Hi car man, I could use a little help here. I'm looking at leasing a 2008 Limited 4x2 and narowed it to 2:

    I'm looking at 36 months, with 10K miles per year...zero down.

    -MSRP $46,265. with final (x plan) selling price at $40,681.

    -2nd choice vehicle....same terms... MSRP $43,775 with selling price of $38,416.

    Would I save much by going out to 39 months?

    Thanks.
  • antnecantnec Member Posts: 3
    Car man

    when will you be able to answer post #83

    thanks
    anthony
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Anthony. The truck that you described probably has a spread of around $4,700 to $4,800 between its full MSRP and its dealer invoice price. In addition to this spread, Ford is currently providing $1,000 bonus cash and $500 lease cash ($1,500 total) on it. This gives you a total of over $6,000 to play with in your negotiations. If I was in the market for this truck, I personally would want a larger discount than the $3,600 that you were quoted. I would shoot for a discount of at least $5,000.

    The lease rate that you were quoted for this truck looks about right to me. Vehicles' residual values are always calculated as a percentage of their full MSRPs. The acquisition fee is OK as well. Ford Credit charges a $595 acquisition fee on every vehicle that it leases.

    I have never personally leased a vehicle through Ford Credit, but I have never seen anyone complain about them being unusually strict when evaluating vehicles for excess wear and teat at lease-end. I have found that most manufacturers' captive finance companies are very reasonable when evaluating the lease-end condition of vehicles. If I was leasing this truck, I personally would pass on any additional excess wear and tear coverage.

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  • kevinulmskevinulms Member Posts: 3
    does anyone know what the going lease rate for an 08 el limited loaded would be for 3 years 36000 miles with 4000 thousand up front .....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey rob052067. The options that a vehicle is equipped with have not impact upon Ford Credit's residual values. The only things that have affect the residual value are trim level and whether the truck that you want is 2WD or 4WD.

    I believe that 10,500 miles per year is Ford Credit's lowest mileage option.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi macsnjets. 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 2008 Ford Expedition XLT 4WD that has an MSRP of $39,875 and a selling price of $34,500 through Ford Credit right now for 39 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $465. As you can see, this is pretty close to the payment that you came up with yourself.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you enjoy this forum so much, gonecruzan. Unfortunately, chances are that you will not be able to take advantage of the fact that you are way under your Explorer's mileage limit. In order to do so, it much be worth significantly more on the open market than your purchase option for it. This is usually not the case, especially with domestic vehicles. If it was, you could trade it in or purchase it and sell it privately.

    In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.

    As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    If you believe that your Explorer is worth significantly more than it would cost you to purchase it, then you might want to consider trying to profit from its low mileage. If not, then just walk away at the end of your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dylcon. Let's see just how much going with a 39 month lease instead of 36 months will lower this truck's monthly payment. According to my calculations, if you were to lease a 2008 Ford Expedition Limited 2WD that has an MSRP of $46,265 and a selling price of $40,681 through Ford Credit right now for 36 months with 10,500 miles per year, your zero down, pre-tax monthly payment would be around $561. The payment for an otherwise identical 39 month lease would be around $553. So it looks like you're looking at a savings of only $8 per month.

    Car_man
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  • rob052067rob052067 Member Posts: 8
    Thanks!!
  • hoss5hoss5 Member Posts: 1
    I'm interested in an Expedition EL. I am considering lease vs. purchase. I've looked at a 2007 Expedition EL demonstrator. It has 10,500 miles. The invoice is $43,500 or thereabouts. The purchase price is $41,500 or thereabouts. We have a 2004 Excursion (clean) with 87,000 miles. The dealer only wants to allow me $10,500 on a trade-in. I understand the 66 months, 0% financing on a purchase, however, don't fully understand the intricacies of a Red Carpet Lease as to the residual and the like. Please advise.
  • wvgasguywvgasguy Member Posts: 1,405
    If you're already trading an 04 then you probably won't get the full advantage of a 0% financing on the 07. Those deals really only save you the full amount when you indeed keep the vehicle for the life of the loan. Typically if you trade every 2 or 3 years take the rebates,

    I found the leases complicated but had 2 dealers explain it because it seemed too good to be true. Was better off with an 08 rather than an 07. The fact that this is an 07 with miles may hurt you in trying to lease it.

    The advantage I had with the lease is that you still get the rebates but the lease financing was only 0.5% on my loan. With a 2 year residual of 52%, that means I'm basically financing half of the vehicle close to 0% anyway. Comparing the lease to a loan from my Credit union, I actually can lease and then buy a lot cheaper than just buying.

    0% is a good thing but don't try to fool yourself if you know you're going to trade in a few years. In two years your 07 will be 3 years old and worth about 45% of MSRP.

    If you don't believe that how about the $10.5 they are offering you now?

    Also with 87K miles on an 04, I'm guessing you drive a lot and that could be pretty expensive on a lease. I have the max at 19,500 miles per year and anything over that is 20 cents a mile (unless I buy it)
  • davidr719davidr719 Member Posts: 3
    Hi, I am in the process of trading in my 2006 Eddie Bauer Explorer that is coming off lease and looking to take advantage of the program they have in place to keep you in one for 2008. My question is the vehicle I am looking at has an MSRP of $33,940. my question is can you further negotiate the price because I am already getting $2,500 + $1,000 as listed on ford's website. I believe I also get an additonal $1,000 loyalty cash back if i get back into another explorer. That means I am already getting $4500 off the MSRP. I know I am supposed to negotiate from the Invoice - holdback up...but are they going to give me a song and dance that i am already getting so much off? But so, far, the rebates are only from the manufacturer, not the dealer so is there room to move?

    The monthly lease payment is looking to be $430 for me. I am doing 39mths at 18k per year with first month + tag fees for a total of $520 out the door. I am in Phila, PA. I would really like to see if I can get more off from their end because so far, the dealer hasn't discoutned anythign or is tht considered when the manufacturer builds in those rebates. If i can negotiate, what is reasonable? Thanks
  • wvgasguywvgasguy Member Posts: 1,405
    Rebates are not dealer discounts. You should be able to get both. I actually got my Expedition lease with XPlan pricing and rebates. Very satisfied.
  • davidr719davidr719 Member Posts: 3
    The guy told me that ford, when they build lease lease deals, they build them at invoice price and thats it...as if there is no room to negotiate beyond the factory.
  • wvgasguywvgasguy Member Posts: 1,405
    If you got it at invoice I;m not sure I'd haggle the dealer too much for anymore anyway. However, as I said I got mine at x-plan less $1500 rebates as my capital costs
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