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Ford Explorer Lease Questions

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Comments

  • shel100shel100 Member Posts: 1
    Is residual factor multiplied by the MSRP before incentives or after incentives?

    Thanks,

    BR
  • devilsadvct33devilsadvct33 Member Posts: 117
    edited September 2012
    Got the following price on a lease of a 2013 FWD Limited:

    36 months, 12,000 miles per year
    $615 per month (includes 6% tax), $1,343 total drive off (includes first payment)
    MSRP: $47,690

    White with Medium Stone Interior
    302A Package
    Dual 2nd row buckets
    Dual Moonroof
    Trailer tow hitch
    White Platinum Met Tri-Coat Paint

    I do not have the actual buy price, but based on my calculations, it looks like the buy price is about $45,350 before the $250 lease cash. The invoice on the car is a little under $44k. Based on this, it looks to me that the dealer is making a profit of about $3k on the car, which includes the 3% holdback, price above invoice and the $250 lease cash. My wife wanted this specific model/color combo. There was only one other dealership in my area that had this exact model, and their final price was $1,900 total down, $645 per month (includes 6% tax). They would not lower their offer even after I gave them the other dealers numbers. Even though the TMV in my area was right around invoice price, it didn't seem that the dealers were willing to sell at that price. This is in the South Florida area.
  • drews88tsidrews88tsi Member Posts: 1
    Ford is showing Nat'l ad on base fwd explorer for $319 over 39 months. $1000 conquest plus $250 rebate and $500 towards 1st months payment. For a $0/0/0 red carpet lease. 10,500 miles/year Assuming MSRP is $29695 I'm not sure how they are pulling $319 if the residual is really 66% like you say unless the residual is wrong or the rate is wrong. Assuming A plan (about $1000 under invoice) is my actual purchase price what can I expect the payment to be? if 66% is correct it should be in the high $2's with tax and tags and acq. 7% state tax.
  • rob5589rob5589 Member Posts: 1
    Just made a deal today on a new 2013 ford explorer limited AWD.

    Leased the truck for 36 months , 12,000 miles per year , 2,500 total out of pocket including first months payment. Payment is $485 a month which includes tax. MSRP of the vehicle was $46,140.

    Did I make a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi shel100. Here's an article that describes how to calculate lease payments: Calculate Your Own Lease Payment. In short, incentives and dealer discounts do lower vehicles' lease payments.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • wimac75wimac75 Member Posts: 5
    Hi There,

    The lease conquest that Ford currently has (program #34080) says I must take delivery by 10/01/2012 - does that mean it had to be done already or can I take delivery by end of the day on Monday 10/1/2012. I was supposed to take delivery today but the dealer couldn't get all the paperwork done in time. If it has indeed expired (since the dealer is closed on Sunday) what is the likelihood (if anyone knows) that the lease conquest will be extended?

    Also, when does Ford typically release the new month's incentives?

    Thank You!
  • wimac75wimac75 Member Posts: 5
    Got my answer on this from the dealer - it runs through the end of today.

    So the incentives expire today - wondering if I should wait until tomorrow to see what Ford announces?

    Right now the incentives I have applied are:

    $1500 Retail Cash
    $1000 Lease Conquest
    $250 RCL Bonus

    Hmmmmm.....

    This is on Xplan pricing.
  • genonegenone Member Posts: 12
    Also interested in what the October incentives will be. Also, any update on what Ford is running for residuals and money factor on the the Limited? Thanks in advance
  • wimac75wimac75 Member Posts: 5
    Limited 36 Months was 56%
    Limited 39 Months was 55%

    Tier 0-1 36 Months 1.5%
    Tier 0-1 39 Months 1.75%

    I just signed my deal tonight....hoping incentives aren't better tomorrow but I haven't taken delivery yet and the Sales Manager said he'd rewrite the paperwork if they are.
  • genonegenone Member Posts: 12
    Thanks for the quick reply - should have stated I was looking for the 24 month 12k miles #s in original post! Thanks again -
  • drakitindrakitin Member Posts: 2
    Anyone out there getting the Sport trim? Is there another forum for it?

    I just signed a deal yesterday for the Base 2013 Explorer Sport. The only additional option I got was the Ruby Red color.

    The deal I got was $445/month (including tax) and $863 down which includes first month and all the DMV fees. This is for a 39-month, 10,500 mi lease. Selling price was $38,500.

    I feel like this is too good to be true. Am I missing something?
  • wimac75wimac75 Member Posts: 5
    Seems about right to me. The lease deals right now on the Explorer are unadvertised. Both residuals and money factors are pretty good. Just a month ago when I priced it out, it was terrible...even the sales guy was surprised. I'm in the upper midwest - Chicago Region.
  • wimac75wimac75 Member Posts: 5
    A guy I know ordered a sport in May and it still is not in. You could be in for a long wait. Did you pick it up or was it an order?
  • Hi Car_man, do you know what the October lease incentives and residuals are for the Explorer? My wife and I are looking at an XLT and Limited for 36/39 months with 15,000 miles.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi richmusch. Ford Credit's October base lease rate and residual value for a 36-month lease of a 2013 Explorer XLT AWD with 15,000 miles per year are 1.0% to 1.5% (the rates very by region) and 55%.

    The numbers for an otherwise identical 39-month lease are 1.25% to 1.75% and 53%.

    The lease rates for the '13 Explorer Limited AWD are the same, but the residual values are 2% lower.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • suntisunti Member Posts: 1
    Hi Car_man,

    Have these rates changed for November?

    Thanks.
  • monkfestmonkfest Member Posts: 2
    Looking for some assistance... I'm being quoted the following and was looking for some feedback.

    2013 Explorer Limited 4WD
    with - Towing Package and Dual Moonroof
    39 month lease
    12K Miles
    $4500 down (trade)

    $459/month
    53% Residual
    1.75% Rate
    (includes TTL)

    deal?
  • green69green69 Member Posts: 17
    I would shop a couple more dealers, this seems high with the amount off money your putting down. Also you should check out different terms, 24mo. for instance. Ford has been very competitive with the 24 mo. Lease. You also mention trade, carefull they are not telling you $4500.00 and then not reducing the purchase price. Oldest trick in the book, give you more for your trade and not reduce the new car purchase price! Good luck!
  • monkfestmonkfest Member Posts: 2
    Thank you for the feedback.

    I'm just a little hesitant to put $4500 down (via trade) on a 24 month lease.
  • green69green69 Member Posts: 17
    I totally agree! Keep in mind that if they are buying your car for $4500.00 you donot have to put all that money down .
    You can have them cut you a check back and put down any amount you want and take the difference back. They basically are buying your car for an agreed price of $4500.00, you can put $500.00 down and request a check back for
    $4,000.00...
    If they do not want to cut you a check for what you want, find a new dealer ASAP.
    Good luck!
  • project206project206 Member Posts: 3
    edited November 2012
    Good morning Car Man,
    I am looking at a 2013 ford explorer xlt/36 months/12k a year. I am being quoted $415 a month, with $415 down. It has 4WD, dual pane roof, 202A package (navigation, heated seats, mytouch sync, etc.) sticker is $40,800. I have $1000 conquest cash from another lease in the household. How does this deal sound?

    Thank you.
  • green69green69 Member Posts: 17
    This deal seems pretty good, I would say your getting a very fair price!
  • tom9328tom9328 Member Posts: 1
    Whereabouts do you live? I live in the Twin Cities and can't get a deal near that good!
  • lovebenzlovebenz Member Posts: 9
    That is a steal. Can you post your details.....

    I am A plan and can't get my lease numbers that low....
  • project206project206 Member Posts: 3
    To be honest, it does seem too good to be true. I went to another dealer today and they said I would have to put $3500 down to get to that price. I am trading in a 2011 Ford XLT that's like new, but the trade seems to be a wash everywhere I have gotten it appraised, as i owe a good amount on it still. Ive been looking for a while and settled on the explorer. The dealer today said I was upside down on my trade. Doesn't make sense, but I will post if I finish the deal on Friday like I am supposed to. I am in NJ.
  • rick_r1rick_r1 Member Posts: 5
    Hi,

    could you refresh the lease rate and residual % for 24 month 12k miles on a 2013 LTD AWD?

    Thanks a lot
  • rick_r1rick_r1 Member Posts: 5
    Also I'd like to add that I tried asking Ford Credit but they refused to provide me with that information. Therefore your help would be highly appreciated.
  • sll4sll4 Member Posts: 1
    edited December 2012
    Hi, could you please tell me if I am getting a good deal on a 2013 ford explorer xlt with leather, captain chairs in 2nd row, 202A package (nav, back up camera, power lift gate). 18" tires, black on black. I live in Florida. The term is for 36 months with 18,000 miles. Residual is 53% and money factor is 1.25 with 1,000 total cash down (includes first months payment). Payment is $440 inclusive of taxes. The MSRP is $38,450. They found $2000 in rebates. Do you know if I should ask for them to tint windows since black on black in Florida?
  • aicaic Member Posts: 12
    Could you kindly provide me the MF/Residual for '13 Explorer XLT/Limited for both 24/36mo. and 15K/year? I've never dealt with Ford for leasing-any tips on offers or incentives? Thank you for the information and I welcome any opinions on leasing this particular vehicle.
  • green69green69 Member Posts: 17
    That's a pretty good deal and I would say they are offering a very fair offer. Especially with the 18,000 miles a year your stating.
  • jimt126jimt126 Member Posts: 1
    Hi Car_man
    First time leasing and while I researched the terms thoroughly Ford seems hesitant to provide lease details- they won't provided the MF but call it a Ford Lease Rate. So need some feedback please:
    2013 XLT with 202A package and a few other accessories totaling to MSRP of $39,860 and sale price after incentives, rebates & $1750 trade-in is $34,241.

    24 month lease proposed is $437 including taxes. The "Ford Lease Rate" is.5 (whatever that means) and it seems close to a MF of .00125 according to a lease app I used to back into the MF.

    Fast Feedback would be really appreciated and I am close to a deal...
  • rick_r1rick_r1 Member Posts: 5
    Seems like Car Man has left the building.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm here guys. Questions about Ford leases are often very difficult to answer because it has a whopping twenty-two regions, each one with the potential to have different programs. Needless to say, that's a lot of variables. That's why I don't always stop by the Ford and Toyota discussions as often as I do for the ones of some of the less regional brands.

    Let me see what I can find out about the Explorer's lease program for you.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jimt126. Ford uses interest rates instead of money factors to calculate vehicles' lease payments. You can convert its lease rates into an approximate money factor equivalent by dividing them by 2400. So a lease rate of 0.5% is equivalent to a money factor of around .00021.

    Ford Credit's December base lease rate and residual value for a 24-month lease of a 2013 Explorer XLT 4WD with 15,000 miles per year are 0.5% and 64%.

    There is a $1,000 national cash incentive on leases of this truck and various regional incentives.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rick_r1rick_r1 Member Posts: 5
    Many thanks for the information. ALso I wanted to ask, is it fair to say that for 24 month leases, other things being equal the residual on a Limited is normally one or two points lower than that of an XLT?
  • ram81ram81 Member Posts: 1
    What is the residual value and money factor for Ford Explorer XLT 2013 for 36 months, 10,500 miles?

    Thanks.
  • liman2liman2 Member Posts: 6
    I got this deal, what do you all think? I have put in a deposit and have to pick up in a week.
    2013 XLT 4WD 3.5L V6 TIVCT
    Has the 202A package with rear view, myford touch, voice activated sync, comfort package + Leather, Heated seats, Power lift gate, Voice activated Navigation and some extras.
    Total sticker price before rebates and discounts is $39,700.
    After applying all discounts the price they are using is about 34,000.

    Deal is $395/Month 15K miles per year, 36 months.
    Zero down. Total out of pocket is for taxes, DMV, registration and plates = $1950.
  • albert72albert72 Member Posts: 200
    Would you mind telling where you got the deal from? Thanks,
  • sullywhosullywho Member Posts: 4
    We are looking for near identical model and would like to know where this was offered as well.

    Thanks
  • liman2liman2 Member Posts: 6
    This is in response to the 2 questions before.
    The deal was completed last week and all the terms were exactly as stated before. We did not have to deal with the finance manager also. The lease also came with a complimentary service plan (oil change etc).
    It is an excellent vehicle but just a word of advise...learn the Mysync touch screen navigation system well from the dealer since it is complicated.

    I got the deal at

    Levittown Ford
    3195 Hempstead Turnpike
    Levittown, NY11756
  • sullywhosullywho Member Posts: 4
    Does anyone Ford's lease rate and residual for February on a XLT AWD(pretty loaded up) Looking for 3 yr/15k. Also, looking or order vehicle from TX dealership, any recomendations

    Thanks
  • nighthawkn117nighthawkn117 Member Posts: 7
    Hello everyone,

    I'm about to start shopping for my 2013 Explorer Limited plus a number of options. I live in the M ichigan.

    Looking for lease rates with 39 Months and highest mileage possible. I believe its 19500 per Year.

    Can anyone tell me deals they've received and what the Residual and money factor are? also what is the average discount off MSRP?

    Much appreciated in advance.
  • nighthawkn117nighthawkn117 Member Posts: 7
    I apologize. I meant to say Sport. I'm interested in the Sport Model
  • ltrain1ltrain1 Member Posts: 1
    I just picked up our new Explorer XLT AWD w/202a, navigation, power liftgage, tow package as factory options. The lease rates should be around .5% for Ford tier 0 and 1 on a 36 month lease. I chose to go with a 24 month lease because the rates were so good and I change cars every two years anyway.

    I feel pretty good about the deal we just struck at a dealership in MN. I received quotes from several area dealers and ultimately went with the dealer that provided the best overall experience. Even though they were not even close to being the best price, they eventually beat out all other offers. Here was our offer:

    24 months, 10,500 miles
    Qualified for lease rate of .25% (mf .0001)
    Rebates- $1750 and $1000 conquest lease cash

    MSRP- $40,270
    Sale Price - $36,475
    Taxes/Fees- $2,557
    Residual- $26,578

    Total monthly payment - $375/mo
    Only money down was the first months payment.
  • nighthawkn117nighthawkn117 Member Posts: 7
    Hello Everyone,

    Hope this helps. I got word back from the dealer on the Explorer Sport:

    36 Month W/15000 Miles
    Residual: 55%
    Interest: .5

    39 Month W/15000 Miles
    Residual: 53%
    Interest: .5

    They said there are $1500 in rebates currently. Is that accurate for the North East Region?

    Thank You
  • ct44ct44 Member Posts: 8
    Did you go through Ford.com and request the mailed brochure for the Explorer? It takes about 7-10 days to get. In it there is a coupon for an additional - sorry I forget the exact amount - $1,000 or so off.
  • nighthawkn117nighthawkn117 Member Posts: 7
    Thank you for the tip. I'll do that for sure.
  • bretebrete Member Posts: 8
    Looking for the money factor, residual values on the 2013 Ford Explorer XLT & Sport 24 month lease with 10,500 miles per year.
    Also what rebates and cash incentives are avilable (I am a current Ford lease holder)?
    Northeast

    Thanks for the help in advance
  • wegbawegba Member Posts: 1
    Seems to me like you might be paying too much on the monthly payment. Granted, our terms aren't the same, but I just got an Explorer XLT AWD, 202a, navigation, power lift gate, tow package, and dual panel moonroof in MI.

    36 months, 10,500 miles
    Lease rate of .25%
    Rebates - $1500 + $500
    Trade-in - $1000

    MSRP - $42,075
    Sale Price - $37,403.98
    Taxes - $886.28 (6% of total monthly payments + 6% of capitalized cost reduction)
    Residual - $23982.75 (57%)

    The acquisition and doc fees ($710 total) were rolled into the Sale Price, and I had to pay $567 out of pocket for first month payment plus title, registration, etc.

    Total monthly payment - $334/month

    I'm not sure what your tax percentage is, but if I try plugging your numbers into an online lease calculator, I'm coming up with a lower payment for you than $375 (around $325). I was assuming 6.85% tax for MN. There is also a difference of $275 between my trade-in and rebates vs your rebates, but that shouldn't affect the monthly payment by much.
  • rjoh1969rjoh1969 Member Posts: 9
    Best offer I've received so far:

    2013 Explorer XLT 4WD with 202A
    All weather floor mats
    Power lift gate
    Dual panel moonroof
    Rear seat DVD
    Trailer tow package
    Navigation
    20" Aluminum wheels
    MSRP $44,545

    $2000 lease cash plus $1000 conquest cash

    36 months, 15K miles per year with $760 total out of pocket for $442 per month including 7.75% tax rate. I'm looking to do better but it gets exhausting spending so much time at the dealer. Internet quotes aren't coming in this low. Thoughts?
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