2016 Ford Explorer Sport Lease Question

acfbobbyacfbobby Member 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 ColoradoModerator Posts: 209,528
    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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  • acfbobbyacfbobby Member Posts: 7
    I will attempt to find out. They are being very difficult in telling me the numbers.
  • MichaellMichaell ColoradoModerator Posts: 209,528
    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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  • acfbobbyacfbobby Member Posts: 7
    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 ColoradoModerator Posts: 209,528
    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 Member 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 ColoradoModerator Posts: 209,528
    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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  • acfbobbyacfbobby Member Posts: 7
    Dealer just told me net cap cost is $46,749.33
  • MichaellMichaell ColoradoModerator Posts: 209,528
    acfbobby said:

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

    That gives me $496/mo + tax

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  • acfbobbyacfbobby Member Posts: 7
    What would/should be total due at signing if paying tax and fees up front?
  • MichaellMichaell ColoradoModerator Posts: 209,528
    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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  • acfbobbyacfbobby Member Posts: 7
    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 ColoradoModerator Posts: 209,528
    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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  • donottrustemdonottrustem Member Posts: 9
    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 ColoradoModerator Posts: 209,528

    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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  • fordlovafordlova Member Posts: 5
    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 ColoradoModerator Posts: 209,528
    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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  • fordlovafordlova Member Posts: 5
    Sorry - forgot to mention - sport.
  • kyfdxkyfdx Moderator Posts: 210,089
    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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  • fordlovafordlova Member Posts: 5
    Thanks!
    what does the "$250 lease cash" mean?
  • MichaellMichaell ColoradoModerator Posts: 209,528
    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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  • fordlovafordlova Member Posts: 5
    Thanks. Ended up getting a $52,350 MSRP for $574 OTD (9% tax included)
  • MichaellMichaell ColoradoModerator Posts: 209,528
    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 Member Posts: 5
    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 ColoradoModerator Posts: 209,528
    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 Member Posts: 5
    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 ColoradoModerator Posts: 209,528
    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 Member Posts: 5
    Thank you. Which credit bureau does ford use?
  • MichaellMichaell ColoradoModerator Posts: 209,528
    markj77 said:

    Thank you. Which credit bureau does ford use?

    Don't know that.

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  • mustgofastmustgofast Member Posts: 65
    @Michaell any word on the numbers for April?
    Ford offers a 13.5k as well how's the resid differ on that and 12
  • kyfdxkyfdx Moderator Posts: 210,089

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

    Which state, term and mileage?

    13.5K/yr residuals are 1% lower than 12K/yr

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  • mustgofastmustgofast Member Posts: 65
    Wisconsin let's go with 36mo @ 12k/yr
  • mustgofastmustgofast Member Posts: 65
    Any chance you might also know the what's included in the due at signing for Ford? I used their lease calculator and it showed me 1199 due at signing and 554 w/ 0 down payment. I know you pay first month's on signing trying to figure out what the other $645 due is my thought was lease acquisition fee, but I think that's only 595 w/ ford. Thoughts?
  • MichaellMichaell ColoradoModerator Posts: 209,528

    Wisconsin let's go with 36mo @ 12k/yr

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

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  • MichaellMichaell ColoradoModerator Posts: 209,528

    Any chance you might also know the what's included in the due at signing for Ford? I used their lease calculator and it showed me 1199 due at signing and 554 w/ 0 down payment. I know you pay first month's on signing trying to figure out what the other $645 due is my thought was lease acquisition fee, but I think that's only 595 w/ ford. Thoughts?

    No idea what assumptions the Ford calculator makes.

    First payment and acquisition fee are both due at signing.

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  • mustgofastmustgofast Member Posts: 65
    Are you sure on the 57% for 12k? If I plug their numbers in I'm back calculating a 60% resid on the Explorer Sport to get to their numbers with the info displayed....
  • MichaellMichaell ColoradoModerator Posts: 209,528

    Are you sure on the 57% for 12k? If I plug their numbers in I'm back calculating a 60% resid on the Explorer Sport to get to their numbers with the info displayed....

    Confirm 57% for 36/12 on 2016 Explorer Sport. Numbers are national. Dealer cannot modify them.

    Something must be off in whatever calculator you are using ... pretty common for the on-line stuff. They often make assumptions we know nothing about.

    I've built my own spreadsheet - use the instructions here to build your own:

    http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

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  • mustgofastmustgofast Member Posts: 65
    Yep - my own sheet (is correct matches every lease I've ever done) won't match the FORD numbers. [non-permissible content removed] - I kinda want them to say make that work and give me a good price and I'd have to buy it.
  • TelmaTelma New yorkMember Posts: 1
    Can I get the number for NY for 24/12 and 36/12 for this month?
  • kyfdxkyfdx Moderator Posts: 210,089
    Telma said:

    Can I get the number for NY for 24/12 and 36/12 for this month?

    0.75% APR and 65% residual
    0.25% APR and 57% residual

    $1000 lease cash.

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  • wibadger71wibadger71 Member Posts: 5
    Hi - could I get updated numbers for 36/10.5K for Wisconsin? Thanks!!
  • MichaellMichaell ColoradoModerator Posts: 209,528

    Hi - could I get updated numbers for 36/10.5K for Wisconsin? Thanks!!

    .25% and 58%

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  • chimpondchimpond Member Posts: 12
    edited February 2017
    hi @Michaell

    In NY State 2017 Ford Explorer Sport. Total gross is $48,272.

    They're asking $2750 down with a payment of $577. 12k miles a year. I have a car that has $3000 left that is being factored into this deal.

    Any insight would be great. Thanks in advance.
  • MichaellMichaell ColoradoModerator Posts: 209,528
    chimpond said:

    hi @Michaell

    In NY State 2017 Ford Explorer Sport. Total gross is $48,272.

    They're asking $2750 down with a payment of $577. 12k miles a year. I have a car that has $3000 left that is being factored into this deal.

    Any insight would be great. Thanks in advance.

    What lease term?

    The $3000 in negative equity equates to $84/mo, all by itself.

    What is the MSRP?

    What is the breakdown of the $2750?

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  • chimpondchimpond Member Posts: 12
    @Michaell the MSRP is $50960. let me know is this helps. thanks! https://www.dropbox.com/s/z45e78dxx8vnjxq/2017-02-15.pdf?dl=0
  • MichaellMichaell ColoradoModerator Posts: 209,528
    chimpond said:

    @Michaell the MSRP is $50960. let me know is this helps. thanks! https://www.dropbox.com/s/z45e78dxx8vnjxq/2017-02-15.pdf?dl=0

    Oh, goodness. This is a 2017? Let's move this discussion to the 2017 thread....

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

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