2016 Ford Explorer Lease Questions

beargator56

Hi! Looking for money factor / residual for 2016 Explorer Sport and estimation of the payment. Daytona Beach, FL area.

36/10k
48/10k

MSRP: 51305
Sale Price: 43k

Thanks in advance!

Michaell

emmybhtx said:

Got a quote today for leasing a 2016 Explorer. They said $625/month for an XLT. This is with $625 down. $725 for the Limited with $800 down. These are 36/15 leases. These monthly payments seem crazy high to me. What monthly payment should I expect to get in Texas right now for an XLT with 202A or a Limited?

Your leases in Texas are going to be higher because you pay sales tax against a full selling price. That said, $625 a month does seem a bit high. What is the MSRP and selling price?

Michaell

beargator56 said:

Hi! Looking for money factor / residual for 2016 Explorer Sport and estimation of the payment. Daytona Beach, FL area.

36/10k
48/10k

MSRP: 51305
Sale Price: 43k

Thanks in advance!

36/10–58% and .25%. $250 lease cash.

48 month numbers are horrible

With your prices, $375 per month plus tax

emmybhtx

Your leases in Texas are going to be higher because you pay sales tax against a full selling price. That said, $625 a month does seem a bit high. What is the MSRP and selling price?
The XLT I asked about has a sale price listed at $35,021 before rebates (MSRP 39,335). The Limited is listed at $39,997 before rebates (MSRP 47,180). The guy didn't include the cap cost, mf or any other info in his quote.

Michaell

emmybhtx said:

Your leases in Texas are going to be higher because you pay sales tax against a full selling price. That said, $625 a month does seem a bit high. What is the MSRP and selling price?

The XLT I asked about has a sale price listed at $35,021 before rebates (MSRP 39,335). The Limited is listed at $39,997 before rebates (MSRP 47,180). The guy didn't include the cap cost, mf or any other info in his quote.



Unless you plan on paying the taxes and fees up front, the selling price will have those items added in.

MF is .25% (.00010) and the 36/15 residuals are 54% for the XLT and either 52% (Ltd 4WD) or 51% (Ltd FWD).

Naturally the quotes are thin on information. Press them for the adjusted cap cost, the amount due at signing (and what it includes).

Then, we can run the numbers to see if their payment quotes are legit or not (I'm guessing not).

emmybhtx

Michaell said:

emmybhtx said:

Your leases in Texas are going to be higher because you pay sales tax against a full selling price. That said, $625 a month does seem a bit high. What is the MSRP and selling price?

The XLT I asked about has a sale price listed at $35,021 before rebates (MSRP 39,335). The Limited is listed at $39,997 before rebates (MSRP 47,180). The guy didn't include the cap cost, mf or any other info in his quote.

Unless you plan on paying the taxes and fees up front, the selling price will have those items added in.

MF is .25% (.00010) and the 36/15 residuals are 54% for the XLT and either 52% (Ltd 4WD) or 51% (Ltd FWD).

Naturally the quotes are thin on information. Press them for the adjusted cap cost, the amount due at signing (and what it includes).

Then, we can run the numbers to see if their payment quotes are legit or not (I'm guessing not).

He said he was using invoice prices ($37,076 and $46,045) and a 2.25 MF which I assume means .00225. All of that seems high. He said I forfeit rebates when leasing as opposed to purchasing. Are there no current leasing incentives? He didn't provide amount due at signing except for proposing the $625/$800 down payments.

Michaell

emmybhtx said:

Michaell said:

emmybhtx said:

Your leases in Texas are going to be higher because you pay sales tax against a full selling price. That said, $625 a month does seem a bit high. What is the MSRP and selling price?

The XLT I asked about has a sale price listed at $35,021 before rebates (MSRP 39,335). The Limited is listed at $39,997 before rebates (MSRP 47,180). The guy didn't include the cap cost, mf or any other info in his quote.

Unless you plan on paying the taxes and fees up front, the selling price will have those items added in.

MF is .25% (.00010) and the 36/15 residuals are 54% for the XLT and either 52% (Ltd 4WD) or 51% (Ltd FWD).

Naturally the quotes are thin on information. Press them for the adjusted cap cost, the amount due at signing (and what it includes).

Then, we can run the numbers to see if their payment quotes are legit or not (I'm guessing not).

He said he was using invoice prices ($37,076 and $46,045) and a 2.25 MF which I assume means .00225. All of that seems high. He said I forfeit rebates when leasing as opposed to purchasing. Are there no current leasing incentives? He didn't provide amount due at signing except for proposing the $625/$800 down payments.


There is a whopping $250 lease cash; dealer is correct, purchase incentives can not be used when leasing.

And, the 2.25% is marked up from the base rate of .25%

If the dealer doesn't want to be transparent with the numbers, it's probably time to move on to another dealer.

emmybhtx

ok the final offer he is giving me is
$35,500 (XLT with 202A)
.25%
$470/month

When I put the numbers in an online lease payment calculator, it's $410 a month. I know Texas will have more taxes included, but not an additional $60/month. Not sure where the discrepancy is.

kyfdx

emmybhtx said:

ok the final offer he is giving me is
$35,500 (XLT with 202A)
.25%
$470/month

When I put the numbers in an online lease payment calculator, it's $410 a month. I know Texas will have more taxes included, but not an additional $60/month. Not sure where the discrepancy is.

Texas taxes the full selling price.... so, $60/mo for tax is about right.

rulloff

.In SE Florida, how much will the residual be impacted from 12k to 15k on a 36 month lease?

Michaell

rulloff said:

.In SE Florida, how much will the residual be impacted from 12k to 15k on a 36 month lease?

Subtract 2% from the residual to go from 12K to 15K

rulloff

Sorry, and what are the numbers on 36/12 RWD XLT, Limited & Sport in SE Florida. The ones I had were for '15

Michaell

rulloff said:

Sorry, and what are the numbers on 36/12 RWD XLT, Limited & Sport in SE Florida. The ones I had were for '15

.25% and $250 lease cash for all trims.

XLT FWD - 56%
Limited FWD - 53%
Sport AWD - 57%

eli0295

Thanks so much in advance for any feedback. Lease details provided by a northern New Jersey dealer.

2016 Ford Explorer XLT AWD with navigation, dual moon roof and remote starter.

MSRP: 43905
Residual Value: 25525
Interest rate: .25%
Vehicle cost: 42000
Lease terms: 36 months with 10500 miles
Taxes: 1599.54
Plates & registration: 200
Bank fee: 645
Title & documentation fee: 289
Due at signing: 550
First payment due 8/1: 486

My fiancé has 5 payments left on her lease, the dealer stated they will cover the cost of those payment. Does this sound like a good deal? Thanks again... EL

Michaell

eli0295 said:

Thanks so much in advance for any feedback. Lease details provided by a northern New Jersey dealer.

2016 Ford Explorer XLT AWD with navigation, dual moon roof and remote starter.

MSRP: 43905
Residual Value: 25525
Interest rate: .25%
Vehicle cost: 42000
Lease terms: 36 months with 10500 miles
Taxes: 1599.54
Plates & registration: 200
Bank fee: 645
Title & documentation fee: 289
Due at signing: 550
First payment due 8/1: 486

My fiancé has 5 payments left on her lease, the dealer stated they will cover the cost of those payment. Does this sound like a good deal? Thanks again... EL

I get $466/mo with those numbers .. I would confirm the status of those last 5 payments ... they might be getting added in to the new lease. And, find out the adjusted capitalized cost.

drmnc3623

Hello, can you share MF and residual value for 2016 XLT AWD, 36/12 and 39/12 in North Carolina. Thank you.

Michaell

drmnc3623 said:

Hello, can you share MF and residual value for 2016 XLT AWD, 36/12 and 39/12 in North Carolina. Thank you.

36/12 - .25% and 56%
39/12 - .50% and 54%

pirate68

To piggyback off the last inquiry for North Carolina, what are MF and Residuals for 2016 Limited (FWD or AWD)? 36/10K miles and 39/10K miles. Thanks.

kyfdx

pirate68 said:

To piggyback off the last inquiry for North Carolina, what are MF and Residuals for 2016 Limited (FWD or AWD)? 36/10K miles and 39/10K miles. Thanks.

0.25% APR and 54%/55% residual for FWD/AWD for 36/10.

0.50% APR and 52%/53% for 39/10

bergagio

Hi There and Happy 4th! I'm in California and looking at a 2016 Sport AWD:

MSRP: $51305
Negotiated price w/discounts $44,000
Lease desired: 35/10k

What does the residual/MF look like?

Thank you!

kyfdx

bergagio said:

Hi There and Happy 4th! I'm in California and looking at a 2016 Sport AWD:

MSRP: $51305
Negotiated price w/discounts $44,000
Lease desired: 35/10k

What does the residual/MF look like?

Thank you!

0.25% APR and 58% residual. $1000 lease cash.

Today is the last day for those numbers.

hmcinc13

Lease numbers. 2016 explorer sport 401a package 36/10500. New York State any incentives? Mf and residual. Thx

bergagio

Thanks kyfdx. I didn't end up pulling the trigger here in CA. What do July #s look like on the same car?

kyfdx

Sorry, we don't have the new Ford programs, yet.

210mike

Could you Sanity check a lease deal for me? I'm in Texas, looking at a 2016 Explorer Sport. Dealer is quoting 53% residual and 2.75% APR for a 39 month, 12k/yr lease and 750 lease cash. The APR seems high when just a week or two ago .5% was being quoted. I can see losing a couple points of residual with it being an outgoing model year.

Are the numbers similar or better for a 2017? I was thinking about trying to snag a deal on a 2016 but if the numbers aren't that great might as well go with the '17.

kyfdx

210mike said:

Could you Sanity check a lease deal for me? I'm in Texas, looking at a 2016 Explorer Sport. Dealer is quoting 53% residual and 2.75% APR for a 39 month, 12k/yr lease and 750 lease cash. The APR seems high when just a week or two ago .5% was being quoted. I can see losing a couple points of residual with it being an outgoing model year.

Are the numbers similar or better for a 2017? I was thinking about trying to snag a deal on a 2016 but if the numbers aren't that great might as well go with the '17.

We show 1.5% APR, but Ford has a ton of regions, and there could be variances. The residual is correct.

Please post 2017 questions here:
http://forums.edmunds.com/discussion/41930/ford/explorer/2017-ford-explorer-lease-questions/p1?new=1

ceerod3

Hello all, just trying to compare if programs are better on 2016 or 2017 for the New Jersey area, may I please know what is the "RESIDUAL VALUE" and "MONEY FACTOR" for the 2016 Ford Explorer Sport for 36 MONTH and 12,000 MILES ? For the 2017 I have posted the question in its own forum of 2017, thank you for your help

Michaell

ceerod3 said:

Hello all, just trying to compare if programs are better on 2016 or 2017 for the New Jersey area, may I please know what is the "RESIDUAL VALUE" and "MONEY FACTOR" for the 2016 Ford Explorer Sport for 36 MONTH and 12,000 MILES ? For the 2017 I have posted the question in its own forum of 2017, thank you for your help

55% and 1.00%

jmald4425

hi...looking for the MF/Residual on a 2016 Explorer XLT AWD and Sport AWD. 36months/12k miles New York/CT lease. Thank You

kyfdx

jmald4425 said:

hi...looking for the MF/Residual on a 2016 Explorer XLT AWD and Sport AWD. 36months/12k miles New York/CT lease. Thank You

1.25% APR and 54%/55% residual for XLT/Sport

tommylee2

Equipment Group 202A, FWD, XLT
MSRP = $39,865
CAP Cost= $37,477.27
Leasing for 10,500 miles ,36 months, $3,500 down
In Atlanta GA, MF and residual are .25% and 55% right? If so what would be the monthly? Thanks!

Michaell

tommylee2 said:

Equipment Group 202A, FWD, XLT
MSRP = $39,865
CAP Cost= $37,477.27
Leasing for 10,500 miles ,36 months, $3,500 down
In Atlanta GA, MF and residual are .25% and 55% right? If so what would be the monthly? Thanks!

MF is 1.25% for July.

With your prices, I get $463/mo.

What is the breakdown of the $3500 due at signing?

tommylee2

Michaell said:

tommylee2 said:

Equipment Group 202A, FWD, XLT
MSRP = $39,865
CAP Cost= $37,477.27
Leasing for 10,500 miles ,36 months, $3,500 down
In Atlanta GA, MF and residual are .25% and 55% right? If so what would be the monthly? Thanks!

MF is 1.25% for July.

With your prices, I get $463/mo.

What is the breakdown of the $3500 due at signing?

Thanks Michaell, from the past post it seems to me the MF is only .25%, is it just July they changed to 1.25%? The MF for 2017 model is also 1.25% right?

Michaell

tommylee2 said:

Michaell said:

tommylee2 said:

Equipment Group 202A, FWD, XLT
MSRP = $39,865
CAP Cost= $37,477.27
Leasing for 10,500 miles ,36 months, $3,500 down
In Atlanta GA, MF and residual are .25% and 55% right? If so what would be the monthly? Thanks!

MF is 1.25% for July.

With your prices, I get $463/mo.

What is the breakdown of the $3500 due at signing?

Thanks Michaell, from the past post it seems to me the MF is only .25%, is it just July they changed to 1.25%? The MF for 2017 model is also 1.25% right?

1.25% for 36 months on both 2016 and 2017 Explorer.

Numbers changed as of July, so yes, they increased from previous months where the MF was only .25%

tommylee2

So that won't make sense leasing a 2016 on July, better go after the 2017 since same MF?
They have a lease offer for 2016 right now, would that give me better deal?

kyfdx

@tommylee2 You can't just compare lease programs between two model years, without also comparing the available discounts on the respective models. I would assume that discounts/rebates on the 2016 would be a lot higher than on the 2017.

ryansiebecker

Would I be able to have the MF and Residuals for the Platinum and Sport models? 36/10K please.

kyfdx

ryansiebecker said:

Would I be able to have the MF and Residuals for the Platinum and Sport models? 36/10K please.

53%/56% residual for Platinum/Sport.

What state?

cristianh2010

July numbers for 2016

explorer sport, 10,5/k/yr, 36 and 39 mo in Tennessee
explorer Platinum, 10,5/k/yr, 36 and 39 mo in Tennessee

Also do you have any numbers on the 2017 model yet? Thanks!

kyfdx

cristianh2010 said:

July numbers for 2016

explorer sport, 10,5/k/yr, 36 and 39 mo in Tennessee
explorer Platinum, 10,5/k/yr, 36 and 39 mo in Tennessee

Also do you have any numbers on the 2017 model yet? Thanks!

1.25% APR and 56%/54% residual for Sport, 53%/51% for Platinum.

2017 lease discussion is here:
http://forums.edmunds.com/discussion/41930/ford/explorer/2017-ford-explorer-lease-questions#latest

hamfist1

Could you provide the residual/MF for 2016 Explorer Sport, 36mo/15k year for ZIP 48304?

Thx!

kyfdx

hamfist1 said:

Could you provide the residual/MF for 2016 Explorer Sport, 36mo/15k year for ZIP 48304?

Thx!

1.00% APR and 53% residual.

cristianh2010

Are the numbers the same in Virginia?

36/10.5
Sport - 56%
1.25% MF

Michaell

cristianh2010 said:

Are the numbers the same in Virginia?

36/10.5
Sport - 56%
1.25% MF

Yes they are the same in VA

cristianh2010

Do you know or have any guess about if the 2016 explorer sport lease MF or residual will change for the better in August now that the 2017s are on the lot?

kyfdx

cristianh2010 said:

Do you know or have any guess about if the 2016 explorer sport lease MF or residual will change for the better in August now that the 2017s are on the lot?

Ford only updates residuals quarterly, so those won't change next month.

No clue what might happen to APRs.

jjrnj

Are there any new programs (lease cash, etc) and new APRs for August? Looking at a 36/12 Explorer Sport in NJ

Thanks!

antciam1

I am in VA looking at leasing a 2016 XLT at the end of the month. I was wondering if the August Residuals and MF are out? Looking for a 36 or 39/10.5 lease. Thank you

Michaell

jjrnj said:

Are there any new programs (lease cash, etc) and new APRs for August? Looking at a 36/12 Explorer Sport in NJ

Thanks!

No change from the July numbers.

1.00% and 55%

Michaell

antciam1 said:

I am in VA looking at leasing a 2016 XLT at the end of the month. I was wondering if the August Residuals and MF are out? Looking for a 36 or 39/10.5 lease. Thank you

No change from the July information ...

1.25% and 55% for 36/10.5

1.50% and 53% and 39/10.5