2016 XLT Explorer. 34k including tax. 36month lease. Residual 57. Money factor 1.25%. No money down

jason2tpa

Goood deal?

kyfdx

jason2tpa said:

Goood deal?

What is the MSRP?

What is the state/tax rate?

jason2tpa

35,510 with 2,675 in discounts. Given the total balance of $33,938 after all taxes and fees. And I believe this is priced at 10k in annual miles

jason2tpa

Florida sales tax is 6%

kyfdx

jason2tpa said:

35,510 with 2,675 in discounts. Given the total balance of $33,938 after all taxes and fees. And I believe this is priced at 10k in annual miles

I show the money factor at 0.25%, not 1.25% APR.

Also, Florida taxes the monthly payment, so tax really shouldn't be part of the CAP cost. It's the payment that gets taxed. Also, watch out for "fees", especially in Florida. Dealers there like to tack on $700-$800 for nothing..

So..what is the payment quoted and how much due at signing?

jason2tpa

Can you view this doc?

Michaell

jason2tpa said:

Can you view this doc?

Yes, I see the document. What I also see are the marked up MF (1.25% vs .25% from Ford).

When I use $35,510 as the MSRP, $33,939 as the net cap cost, .25% MF and 57% residual, I get a payment of $409/mo with 6% tax for 36 months.

jason2tpa

So what's the most common MF for this vehicle ballpark? I know it's negotiable, but .25% is that more common than 1.25%? And yes, this quote is based on 10k miles/year. I would be getting 15k and possibly paying extra a month for a few thousand more miles a year. Do you recommend prepaying for these miles and gambling you use the miles you pay or pay the fee at the end of the lease?

kyfdx

jason2tpa said:

So what's the most common MF for this vehicle ballpark? I know it's negotiable, but .25% is that more common than 1.25%? And yes, this quote is based on 10k miles/year. I would be getting 15k and possibly paying extra a month for a few thousand more miles a year. Do you recommend prepaying for these miles and gambling you use the miles you pay or pay the fee at the end of the lease?

0.25% APR is the base rate. We don't know if it's common, just that it's marked up.

Miles are cheaper if you take the higher allowance. Plus, if you drive a little more, you won't think about how every little trip is taking money out of your pocket.

On a 36/15 lease, the extra 15000 miles is $1050 over the life of the lease (compared to 36/10). That's only $0.07 per mile.

jason2tpa

Sorry Im confused now. You say the MF is marked up. But marked up from what since there is no common?  Unless I overlooked, how do you know by looking at the document the base rate is 0.25%

Michaell

jason2tpa said:

Sorry Im confused now. You say the MF is marked up. But marked up from what since there is no common?  Unless I overlooked, how do you know by looking at the document the base rate is 0.25%

.25% is the base rate, which is the one you should be working to have used in your deal. Anything higher simply represents profit for the dealer.

We have access to information that isn't public, so we know what the base rate is.

Tell the dealer - politely but firmly - that you won't sign a deal with a marked up MF. They know the base rate; no need for you to negotiate it.

allanvb

Help. I too am going to lease a new Ford Explorer XLT locally. The MSRP is 44600 with a 2100 X Plan discount and a $250 rebate. Trade equity of $2400. What would my payment be for 36 months 15k per year. Every dealer I talk to tell me something different and says they are giving me buy rate on the money. Can you give me a payment. No sales tax in Oregon. Thanks

Michaell

allanvb said:

Help. I too am going to lease a new Ford Explorer XLT locally. The MSRP is 44600 with a 2100 X Plan discount and a $250 rebate. Trade equity of $2400. What would my payment be for 36 months 15k per year. Every dealer I talk to tell me something different and says they are giving me buy rate on the money. Can you give me a payment. No sales tax in Oregon. Thanks

Need to know the net cap cost ... I would think you could negotiate a lower selling price than what X-plan gives you.

How are you applying the trade equity? Up front costs such as bank fee, dealer fee and first payment?

allanvb

0 money out of pocket. I was told .5 as the rate factor. no security deposit. They will not go below X Plan... because of availability.... Thinking about waiting till after 1st of year, but am worried about interest rates going up.. thoughts?

Michaell

allanvb said:

0 money out of pocket. I was told .5 as the rate factor. no security deposit. They will not go below X Plan... because of availability.... Thinking about waiting till after 1st of year, but am worried about interest rates going up.. thoughts?

Can't predict what will happen to the numbers going forward .. I suppose it depends on how well Ford can sell Explorers.

allanvb

do you know what the buy rate is from ford for 36 month lease rate. Also would like to know Residual percentage?
Thanks

Michaell

allanvb said:

do you know what the buy rate is from ford for 36 month lease rate. Also would like to know Residual percentage?
Thanks

36/15 residual is 54% for the XLT. APR is .50% and there is $250 lease cash available.