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2016 Ford Explorer Sport Lease Question

acfbobbyacfbobby Posts: 7
edited January 2016 in Ford
What would/should a 36 month 12k mile lease on an Explorer Sport in NJ cost? MSRP 51,160. Sale price 46,544. Receiving $1750 in incentives and paying approx $2000 in fees and tax up front.

Would like to know money factor and the residual that should be used.

I am being told $557 a month. Seems like there should still be room?????
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  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    What would/should a 36 month 12k mile lease on an Explorer Sport in NJ cost? MSRP 51,160. Sale price 46,544. Receiving $1750 in incentives and paying approx $2000 in fees and tax up front.

    Would like to know money factor and the residual that should be used.

    I am being told $557 a month. Seems like there should still be room?????

    57% and .25% MF.

    Using your prices, I get $490/mo + tax.

    Ask the dealer what the net cap cost is - if higher than the sale price, find out what was added.

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  • I will attempt to find out. They are being very difficult in telling me the numbers.
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    I will attempt to find out. They are being very difficult in telling me the numbers.

    Lack of transparency is a warning. Reach out to other Ford dealers - it only takes one to make a deal on your terms.

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  • I purchased the leasematic app for my iphone.

    It has values for:
    MSRP=51160
    Sale Price46544
    Fees (which are defaulted at $1250)
    Rebates $1750
    Lease term 36
    Residual 57%
    Money factor .25
    State NJ
    Sales Tax 7%

    It is giving me a payment of $499 and $849 due at signing.

    Sound about right??

    If it is I will just show this to the dealer and say take it or leave it.
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    I purchased the leasematic app for my iphone.

    It has values for:
    MSRP=51160
    Sale Price46544
    Fees (which are defaulted at $1250)
    Rebates $1750
    Lease term 36
    Residual 57%
    Money factor .25
    State NJ
    Sales Tax 7%

    It is giving me a payment of $499 and $849 due at signing.

    Sound about right??

    If it is I will just show this to the dealer and say take it or leave it.

    Can't speak to the assumptions being made by the app. I have my own spreadsheet that I use.

    If you are only coming up with $849 at signing, then the rest of the fees and taxes must be getting rolled into the cap cost. Still need to know that number and the bridge from it to the selling price.

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  • acfbobbyacfbobby Posts: 7
    edited January 2016
    If the selling price is $46,544 does the $1750 rebate then get subtracted from that or is that used to get to the $46,544? The $46,544 was agreed upon before discussing leasing so I am assuming it should.

    Also the money factor of .25% is correct or does that get divided by 2400?
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    If the selling price is $46,544 does the $1750 rebate then get subtracted from that or is that used to get to the $46,544? The $46,544 was agreed upon before discussing leasing so I am assuming it should.

    Also the money factor of .25% is correct or does that get divided by 2400?

    You'd have to ask the dealer if the selling price was before or after the incentive was applied.

    For calculation purposes, divide the .25% by 2400 to get the true MF (.00010)

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  • Dealer just told me net cap cost is $46,749.33
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    Dealer just told me net cap cost is $46,749.33

    That gives me $496/mo + tax

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  • What would/should be total due at signing if paying tax and fees up front?
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    What would/should be total due at signing if paying tax and fees up front?

    No idea ... what state and tax rate?

    You'll also have the bank fee, dealer fee, DMV costs and first payment. Some of these can be added into the cap cost; others can't.

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  • NJ. 7%

    I am going to pay taxes and fees up front. Just want to be prepared if they have some hidden fees built in.
  • MichaellMichaell ColoradoPosts: 43,064
    acfbobby said:

    NJ. 7%

    I am going to pay taxes and fees up front. Just want to be prepared if they have some hidden fees built in.

    NJ taxes the sum of the payments up front .. you can choose to pay them at lease inception or add the taxes to the cap cost.

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  • Michaell,

    Could you please provide me with the current residuals and money factors on a 2016 Explorer Sport for 24/12k, 24/15k, 36/12k, & 36/15k leases in Indiana?

    Thank you!
  • MichaellMichaell ColoradoPosts: 43,064

    Michaell,

    Could you please provide me with the current residuals and money factors on a 2016 Explorer Sport for 24/12k, 24/15k, 36/12k, & 36/15k leases in Indiana?

    Thank you!

    24/15 - 64%
    36/15 - 55%

    .25% MF for both terms. $250 lease cash. Add 2% for 12K

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  • Michael and others - this is very helpful.
    I am getting the same thing for the wife. 2016 white ford explorer with 401A package and dual monroof. MSRP is $52,235 - "Dealer discount and rebates" - $3,545. Net price is $48,690. 36 months 12k with 0 down is 585.36 (before 9% tax)
    Are these numbers add up?
  • MichaellMichaell ColoradoPosts: 43,064
    fordlova said:
    Michael and others - this is very helpful. I am getting the same thing for the wife. 2016 white ford explorer with 401A package and dual monroof. MSRP is $52,235 - "Dealer discount and rebates" - $3,545. Net price is $48,690. 36 months 12k with 0 down is 585.36 (before 9% tax) Are these numbers add up?
    What trim level is this ?

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  • Sorry - forgot to mention - sport.
  • kyfdxkyfdx Posts: 53,638
    fordlova said:

    Michael and others - this is very helpful.
    I am getting the same thing for the wife. 2016 white ford explorer with 401A package and dual monroof. MSRP is $52,235 - "Dealer discount and rebates" - $3,545. Net price is $48,690. 36 months 12k with 0 down is 585.36 (before 9% tax)
    Are these numbers add up?

    fordlova said:

    Sorry - forgot to mention - sport.

    0.25% APR and 57% residual. $250 lease cash.

    I get $534/mo.+tax, so looks awfully close.

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    Prices Paid, Lease Questions, SUVs

  • Thanks!
    what does the "$250 lease cash" mean?
  • MichaellMichaell ColoradoPosts: 43,064
    fordlova said:

    Thanks!
    what does the "$250 lease cash" mean?

    Factory to dealer incentive, that the dealer can pass along to the customer.

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  • Thanks. Ended up getting a $52,350 MSRP for $574 OTD (9% tax included)
  • MichaellMichaell ColoradoPosts: 43,064
    fordlova said:
    Thanks. Ended up getting a $52,350 MSRP for $574 OTD (9% tax included)
    Congrats, enjoy the new Ford!

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  • markj77markj77 Posts: 3
    Hi Michaell,

    Could you please provide me with the current residuals and money factors on a 2016 Explorer Sport fully loaded with a 401A package, for 36/12k lease in Las Vegas Nevada?


    Thank you!
  • MichaellMichaell ColoradoPosts: 43,064
    markj77 said:

    Hi Michaell,

    Could you please provide me with the current residuals and money factors on a 2016 Explorer Sport fully loaded with a 401A package, for 36/12k lease in Las Vegas Nevada?


    Thank you!

    57% and .25%. $1000 lease cash.

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  • markj77markj77 Posts: 3
    Michaell,

    Can $1000 lease cash be applied to the amount due at lease signing? MF .25% seems amazingly low, is it offered only for a red carpet lease program?
  • MichaellMichaell ColoradoPosts: 43,064
    markj77 said:

    Michaell,

    Can $1000 lease cash be applied to the amount due at lease signing? MF .25% seems amazingly low, is it offered only for a red carpet lease program?

    Yes, it should be. The .25% MF is for RCL only.

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  • markj77markj77 Posts: 3
    Thank you. Which credit bureau does ford use?
  • MichaellMichaell ColoradoPosts: 43,064
    markj77 said:

    Thank you. Which credit bureau does ford use?

    Don't know that.

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  • @Michaell any word on the numbers for April?
    Ford offers a 13.5k as well how's the resid differ on that and 12
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