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Ford Explorer Lease Questions
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I talked to my salesman and he's giving me a residual of .43 and a rate of 4.5% which makes my payments much higher than what you came up with. Is he giving me the run around? Would you be able to tell me what rate and residual you used for the calculations on an EB in post #100 and those for an XLT and Limited too?
Thanks again!
Leasing and buying are no different on the actual purchase of the vehicle. The purchase of the price is absolutley negotiable and you should review Edmunds TMV and Invoice pricing and go check the what others are paying in your area.
This is the end of month and dealers depending on thier month may give you a little bit more so they can hit sales targets.
Second, remember the only thing putting money down will do on a lease is lower your monthly payments. At the end of 36 months you will still pay X. So in other words if you don't put a 1000 down it should raise your payments by 27.77 (1,000/36).
My philosophy is never pay money until you have to. Secondly, if you took out gap insurance and you total the car "the next day" you might be insured but YOU are out the $1,000.
Good luck-
I live in Los Angeles, CA and I wanted to know how much I should expect to pay for the following vehicle: (With Nothing Down & With 1,500 Down)
I know you recommend that people put nothing down, but is it easy to get dealerships to go for this? If you put nothing down your still responsible for the taxes though, right?
Also do you recommend getting dealer quotes online?
MSRP $32,593
Selling Price $32,593
Down Payment: $0 Or $1500
Term: 24 mos
Miles Driven per Year: 15,000
Incentives & Rebates: -$2,000
Est Net Selling Price $30,593
- Thank You For All Your Help
this was bay harbor ford in englewood beach, florida.
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You absolutely should find out exactly what selling price is being used to calculate the lease payment that you were quoted. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Find out what this number is and let me know. With it I can use Ford Credit's actual lease program to calculate what your truck's lease payment should be. I also need to know what state you live in.
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Residuals of 50% on an '06 XLT and I don't remember the rate exactly but it was in line with the 3.75% you mentioned. Our terms were 39 months with 10,500 miles per year. All that matters now is that we were happy with the deal and so was the salesman.
I would like to lease a Ford Explorer EB 06, V8 with some bells and whistles. I have never leased a car because my husband prefers to buy. He is afraid to get "had" by the time the lease expires "They go over it with a fine tooth comb and tend to find a lot wrong with it" Is that so?
How good does your credit have to be in order to get a good lease?
Thank you for your advise.
Anyway, I think my first venture into leasing probably should be my last. Is there anything I could have or can do to get to the real numbers to evaluate a lease?
Due to the lack of loaded Eddie Bauer's and Limited in our area we have decided to buy a Mountaineer Premier loaded. The dealership that has the car we want are refusing to tell us the March incentives. They told us if they give us the 24 month residual of .60 and a money factor of .00104 then cannot give us any incentives. Is this true?
We would like to take any incentives that are given and apply it to our negative equity trade to bring that amount down. CAn we do this?
What are the incentives in Georgia for a Mercury Moutaineer 2WD Premier for March? What are the residual and money factor for this car for March? What can we combine. We already have a Navigator leased so is there a second loyalty incentive?
We appreciate all your help!!
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As far as what your credit has to be like to lease goes, this varies from bank to bank. I have found thou that banks that are affiliated with domestic manufacturers, like GM and Ford, tend to be fairly lenient about what consumers they approve for leases.
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.
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Is this $1000 match program only on Fords or can it be used against Mercury products?
Thanks
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
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
Does anyone know the current money factor and residual for the 24 month lease?
Thanks,
Michelle
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%?)
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
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.
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
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
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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.
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I believe that Ford Credit charges a security deposit on most vehicles. The only way that I could see them waiving yours is if you are currently leasing a vehicle through Ford Credit. You would be much better off paying a security deposit than wasting your money on "Wear Care" protection.
Doc fees vary from dealer to dealer. Some dealers do not charge any, while others have ones that are several hundred dollars. Dealers are definitely not required by law to charge this fee. What your salesperson might have meant is that if a dealer charges one person this fee, everyone has to pay it. If you don't want to pay it and the dealer won't waive it, just have them lower the price of your truck by the same amount. You can either have this fee added into your truck's capitalized cost or pay it at signing, just make sure that you don't somehow do both.
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I've read a lot of posts and it seems they all vary. So here's my deal. Please let me know if it sounds right.
State NJ. 06 Explorer ED V8, Moonroof, 3rd row.
12K miles / 24 months lease
MSRP - $36,025 Includes Dest charge. ($645)
X-Plan $32,900
Incentives $2500 + $1000 match
Residual .58
Total Out of Pocket $3,000
Payment $334. Buy at end for $21,000. Is residual based on MSRP or negotiated price? And is payment decent? Or am I being tricked.
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I was wondering if anyone knows about the automobile theft
protection program(ATP) that the dealer is trying to get me to purchase with my lease for $8.00 a month on a ford explorer 2006.
It involves etching the glass with a VIN number and insurance up to $15,000 to get me back in a lease should my car be stolen and not recovered.
Anyone know if its worth it or just a gimmick?
Thanks
Any help on finding where those lease deals are located online or if anyone has the current specs on that deal would be greatly appreciated.
Thanks
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