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Hi, is this a good Explorer lease deal for my fiance?
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 fiance has 5 payments left on her lease, the dealer stated they will cover the cost of those payment. I don't think she should pay any bank or doc fees, but is this a good deal? Thanks again... EL
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 fiance has 5 payments left on her lease, the dealer stated they will cover the cost of those payment. I don't think she should pay any bank or doc fees, but is this a good deal? Thanks again... EL
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Answers
All leases have a bank fee.
Are they taking her current lease in trade? Or, just cutting her a check for the payments?
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Those are the things I would worry about. Any reason why she wants out of her lease early?
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