Ford Expedition Lease Questions

CarMan@Edmunds

To discuss the latest lease details for the current model, please join us in the 2015 Ford Expedition Lease Questions forum.

You can also research local dealer inventory and pricing, reviews, features, and specifications on Edmunds 2015 Ford Expedition page.

autobroker

Great timing to start this forum. I hope someone can clarify the following for me. I got 2 lease quotes from different dealers on a 2006 Ford Expedition Eddie Bauer. Basically the same car was used to provide the quote - give or take a few hundred dollars. Dealers appeared to use the same cap cost (at invoice). But the monthly payments came out $100 different per month. With around $1000 to start after rebates, the payment from one dealer was $520 and from the other around $650. Both dealers spoke of a $3000 rebate but one also mentioned a much lower APR of 3.75% than the other (I understand Ford does not call it a money factor). I would like to patronize the local dealer which has the higher payment but can't justify the difference. I assume one of the dealers must be wrong. Please help. I was also told that Ford dealers are not allowed to bump up the money factor so that explanation does not work. Thanks in advance.

CarMan@Edmunds

Hi autobroker. I thought that Ford Credit does allow its dealers to mark up lease rates a couple of points, but I could be mistaken. If no mark-up is involved then then only possible answer that I can think of is that one dealer is making a mistake. Ford's lease program for the Expedition just changed on September 7th when it made it so this truck is no longer eligible for its Employee Pricing program. Perhaps one of the dealers that you are working with is mistakenly using the old lease program.

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goscfighton

I've moved to a snowy region and would like to switch out of my 03 2 wheeler Expedition to a 4 wheel drive 06. I'd consider a lease if it made sense. Does any one know what Ford is offering in the way of residuals and money factors? Also, the $4000 cash back they are offering may be only for a purchase--does anyone know if that can be aplied to a lease? Any info would be great. Thanks.

CarMan@Edmunds

Boo for snow, goscfighton . I'd be happy to give you an idea of what this truck's lease program is like right now. I just need you to tell me the exact model that you want, i.e. an Expedition XLS 4WD, Eddie Bauer 4WD, etc..., as well as how long you want to lease it for and how many miles per year you need to be able to drive it. $3,500 of the $4,000 customer cash that is available on this truck right now can be used to reduce the capitalized cost of leasing one through Ford Credit.

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goscfighton

A Limited would be nice with tow package, side canopy, and power folding 3rd seat. I can't remember the other options, but those are the top ones. I am fine with a bench second seat (not the captains chairs). Prefer 36 months w/ 15,000 per year. I can use an X plan, but might not need to with some of the prices out there. If you know the XPlan rate for this model, that would be a good place to start. Thank you.
Also, is it worth trying to sell a 2wd in Colorado or should I trade it and let them ship it out of state?

goscfighton

Carman, Any info on the above message? Thanks.

goscfighton

Hey Carman, When you get back, I'm still interested in this info. Not trying to nag, but thought a more current post will show that I'm still looking. Thanks.

crookster

So car man I can use the 3500 out of the 4000 as a down payment?

CarMan@Edmunds

Hi goscfighton. I unfortunately do not know the what the X-Plan price for this truck is. If you provide me with an approximate selling price and the full MSRP of the truck that you are interested in, exactly as you want it equipped, I will be happy to estimate what sort of lease payment it will have right now.

As far as your trade goes, I suspect that there isn't much demand for 2WD trucks in Colorado. You are probably going to take quite a hit on your current vehicle, regardless of whether you trade it in or try to sell it on your own.

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CarMan@Edmunds

Absolutely crookster. You should use the $3,500 cash incentive that I mentioned earlier to reduce your truck's capitalized cost. This is essentially the same thing as making a down payment only it doesn't come out of your pocket.

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goscfighton

Carman, Thanks for the reply.

The X-plan price is usualy a few hundred over invoice. I think I can also get the 3,500 incentive. I would think that would be a pretty good price for a lease. I'm not sure if they have any incentive. I can run a lease calculator with leaseguide.com if anyone knows the percentages for 36 months and 15,000 miles. Also the MF would help.

Thanks

goscfighton

I forgot to mention that the trim would be either Eddie Bauer or Limited and 4X4. The numbers on those vehicles would be greatly appreciated.

crookster

What about the Navigator they are having 4500 cash back, do you know if you can use some of it as a cap cost reduction?

CarMan@Edmunds

You're welcome, goscfighton. If you were to lease a 2006 Ford Expedition Limited 4WD through Ford Credit right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 3.25% and 42%, respectively. The lease rate for an '06 Expedition Eddie Bauer Limited 4WD would be the same, but the residual for this term / mileage allowance would be 43%. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. For March, Ford is providing $2,500 lease cash on this truck in most areas. In addition to this cash, Ford is running a program called "Perfect Match" through which it will match consumers' down payments on deals through Ford Credit. I don't believe that you have to pull $1,000 out of your own pocket to qualify for this incentive though. Supposedly you can use $1,000 of the lease cash to get the matching $1,000.

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CarMan@Edmunds

Hi crookster. This would be a better question for the Lincoln Navigator lease discussion. Here is a link to it for your convenience: "Lincoln Navigator: Lease Questions".

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soccerdad2

I had a deal worked out for an Eddier Bauer Expedition last month. My company took too long to approve the lease, now I asm being told that the same lease will cost $100 per month more! Here was the deal:
36 months, 15,000 miles, $1000 down (first month and inception fees). Monthly payment of $456. 2 WD version. Lease is in Florida. Can you let me know if the deals have gotten that much worse? I was thinking that the deals would get better with the 2007's coming out soon!

ljctx

I am interested in an 07 Expedition EB 4x2 with Conv. pkg, Rear entertainment sys, climate control seats. MSRP is ~ 39k$ and dlr inv ~ 36k$. My wife drives it about 6k miles/yr.
What can I expect from dealers and independents like Autoflex on a 3yr lease? What are the lease rates % and residuals? I am in TX so I have to include full sales tax in the lease payment Assume no trade. Please give me some advise.

car_help_pls

I am wondering the EXACT same question (though I am not in Texas). I have NO CLUE about lease programs, but I do know that if I am not somewhat informaed they will "see me coming!!" I too am looking for the 2007 4X2 eddie bauer and would also need the 12k a year for a 36 month lease. Any advice would be GREATLY appreciated!!

ckidder

Does anyone know what the residual value and money factors are going to be on the 2007 Expeditions(2 year leases-10,000 miles). Any differences on XLT vs. Limited Editions for lease programs? Thanks in advance for your help.

CarMan@Edmunds

Greetings car_help_pls. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

I haven't seen the Expedition's Texas lease program recently, but I may have seen if for your area. What state are you in?

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CarMan@Edmunds

Hi ckidder. Ford's lease program for the Expedition varies by region. I need to know what state you are in to give you an accurate idea of what its current program for this model is like in your area.

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ckidder

I live in Tampa, Florida. Looking for residuals & money factors for 2007 Expedition Limited. Mileage based on 10,000 per year for 24 months & 36 months. Are there any differences between the residuals & money factors for a XLT, Eddie Bauer or Limited? Thanks for the help.

car_help_pls

I am in Arizona......I wasn't aware that they had different lease programs in different states. Does that effect the money factor?

CarMan@Edmunds

Here's the information that you are looking for, ckidder. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2007 Expedition Limited 2WD with 10,500 miles (this is the lowest allowance that Ford Credit publishes residual values for) per year in your area should be 1.0% and 59%, respectively. The numbers for an otherwise identical 36 month lease should be 2.25% and 51%. This truck's lease rates should be the same for the other trim levels that you mentioned, but its residual values may be different.

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CarMan@Edmunds

Hi car_help_pls. Yes, the lease rates of vehicles that are leased through Ford Credit often vary by region. I have not seen its specific lease program for Arizona, but I suspect that it is similar to, if not exactly the same as the program that I described in my previous post.

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macdad

Is it still possible to lease a 2006 Eddie Bauer Expedition. With the huge gap between MSRP and negotiated purchase price, it would seem a good monthly would be possible. What is the current residual/money factor(or interest rate) for 24 mo / 12k miles or 36 mo / 12k miles on an '06. I used your Edmunds forum to lease a 5 series BMW and it worked perfectly but it looks looks like Ford uses an interest rate instead of a money factor. Would I plug in their interest rate in place of the money factor to do my calculations. I live in Florida.

Thank you,

Macdad

CarMan@Edmunds

Hi Macdad. Unfortunately, the answer to your question is no. Ford Credit is no longer leasing 2006 models. You might still be able to lease a 2006 Expedition through an independent bank, but if you really want to lease you probably would be better off just leasing a 2007 model.

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chow3

Car Man- The wife's Honda Minivan lease is up at the end of the year She is interested in a 7-8 passenger SUV. What do the lease terms look like on the expedition for November? I am in South Florida if that matters

nyinsuranceguy

Car man,

Thanks for providing such excellent information for us consumers. I'm looking for the November lease rates and residual values on the 07 expedition eddie bauer on a 36 or 39 month lease program in New York. Thanks!

CarMan@Edmunds

Hi chow3. You never mentioned how long you want to lease this truck for or what mileage allowance you need, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. You never mentioned the exact model Expedition that you want either, so I will also have to make an assumption about this too. Let's say that you want a 2WD XLT model. Let me know if you want something different. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Expedition XLT 2WD with 15,000 miles per year in your area are 2.25% and 47%, respectively.

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CarMan@Edmunds

You're very welcome, nyinsuranceguy. Ford's New York area lease program for this truck is a little better than its Southeastern area program that I just mentioned. Ford's current base lease rate and residual value for a 36 month lease of a 2007 Expedition Eddie Bauer 4WD with 15,000 miles per year are 1.5% and 49%, respectively. This truck's 39 month numbers are 1.75% and 47%. In the New York area, Ford is providing $1,000 lease cash on the '07 Expedition. Make sure to take this cash into account when negotiating the capitalized cost for your lease.

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nyinsuranceguy

Thanks Car man. Refresh my memory- to calculate the monthly money factor, I use the cap cost + the residual value, and then I divide the 1.50% rate by 24, correct?

(cap cost + residual factor) x (rate/24)

sasuke

I havent gone to a ford dealership yet, but I might consider the expedition considering the price of the 06' pathfinder jumped up on leasing.

I'm interested in the expedition Limited AWD...can anyone give a ballpark price on it for a 39 month, 15k miles.

guest

My lease is expiring on 12/26. I'm most likely stuck with another Expedition because we need the space for 2 labs and 2 retrievers. This will be my 5th Expedition. Today, I was told that Ford basically isn't dealing or offering anything yet for 2007 leases -- well, $500 for "customer loyality." I want the XLT version, with 6 CD player, keyless entry, folding third seat, 18" wheels, convenience package, XLT Comfort Group, Cloth seats, alarm system, etc. Probably only 24-26,000 miles will be put on the vehicle during the 36 month term limit. What should I expect to pay? How can I figure the costs? Thanks for any information.

ccap

Question... Would it be better to take the value of my trade $8,500, I own it 100%, and put it down on the car and purchase it, which would make the payments 650 for 5 years. I would have to pay sales tax and excise as it comes due. I would have to come up with $2k for sales tax and misc fees.

Or do I lease the vehicle for $632 month which includes sales and excise for 3 years. 2k for 1st, security dep and bank fees and the net of the 8,500 would come to me in a check from the dealer which would be 6300 which could go back in the bank.

What would you do? How best to analize this? I made a deal and need help asap!!!

CarMan@Edmunds

Hey nyinsuranceguy. Yes, to convert a lease rate into an approximate money factor equivalent you need to divide it by 2400. Then just plug the factor into the formula that is described in the following article: Calculate Your Own Lease Payment.

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CarMan@Edmunds

Greetings sasuke. You never mentioned the selling price or MSRP of the Expedition that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work up a sample lease payment on the vehicle that you are interested in for you if you let me know what these numbers are.

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CarMan@Edmunds

Unfortunately what you were told is correct. Ford is not currently offering much in the way of incentives on the 2007 Expedition in your area right now. If I was in the market for an Expedition right now, rather than leasing a 2007 model I personally would try to find a dealer that has a leftover 2006 model and either finance it through Ford Credit or an independent bank. If you finance an '06 Expedition through Ford Credit you can do so at an amazing 0% for 6 years and get a $1,000 cash incentive. If you finance it through an independent bank you can take advantage of $5,000 customer cash. This is the route that I would go if I was in your situation. I would be happy to work up a sample lease payment on the exact '07 Expedition that you are considering for you, however in order for me to do so I need you to provide me with its full MSRP and approximate selling price.

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CarMan@Edmunds

You definitely have the right idea about not making a large down payment when leasing, ccap. Consumers who make one risk losing it if their vehicle is totaled or stolen. As I just mentioned to the previous poster, Ford is not currently offering much in the way of incentives on the 2007 Expedition in your area right now. If I was in the market for an Expedition right now, rather than leasing a 2007 model I personally would try to find a dealer that has a leftover 2006 model and either finance it through Ford Credit or an independent bank. If you finance an '06 Expedition through Ford Credit you can do so at an amazing 0% for 6 years and get a $1,000 cash incentive. If you finance it through an independent bank you can take advantage of $5,000 customer cash. This is the route that I would go if I was in your situation. If I had to go with an '07 model, I personally would probably still be inclined not to lease right now.

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ccap

Thanks for the reply Car_Man,

I was getting $1,000 cash back that I was putting towards the lease. He is selling me the car for $800 over invoice. 1.5% rate with 51% residual equals 558 plus sales and excise.

Not a good deal???

cwa318

Car Man......

Do you have the current or perhaps the January lease information for Expedition EL Limited? Looking for 36 mon 15k...Thanks

CarMan@Edmunds

You're welcome, ccap. $800 over invoice minus any available cash incentives is a decent deal on an Expedition. Take the $1,000 that you are getting back and use it to pay the charges that you will have to pay at lease signing, like your truck's first month's payment, security deposit, and acquisition fee.

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CarMan@Edmunds

Hi cwa318. This truck's lease program varies by region. It is better in the New York and Detroit areas than it is in the rest of the country. In most of the country, Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Expedition EL 4WD with 15,000 miles per year are 2.5% and 48%, respectively.

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iaudi

Carman,

I am looking at a 2007 Ford Expedition and I live in Des Moines, Iowa. Here are the details: I am curious the residual and money factor(%)for a 36 month lease.

2007 Ford Expedition Eddie Bauer
MSRP: 46,220
2000 down
probably 1500 trade in
I am hoping to finance around 40,000.

Thanks for your help

macltdk

I'm in S.E. PA and yesterday was quoted invoice price of $44,651 ($48,890 MSRP) on a 4x4 Expedition Ltd. plus $1,000 cash back plus $6,000 trade on my van. Based on what I've read in your forum I'd like to keep down money to as little as possible. What factor/payment can I expect thru Ford for a 36 month lease w/15k miles? I don't mind putting the $1,000 cash back toward capitalized cost or first payment, but would prefer to keep the trade-in cash. Any thoughts? Thanks a lot.

CarMan@Edmunds

Hi iaudi. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Expedition Eddie Bauer 4WD leased in your area with 15,000 miles per year are 2.5% and 48%, respectively. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents b dividing them by 2400.

I see that you are considering putting several thousand dollars down on the Expedition that you want to lease. I always advise consumers against making down payments on leased vehicles. I do so because if your leased vehicle is totaled in an accident or stolen and never recovered, your down payment essentially disappears. There's nothing wrong with trading in your current vehicle when you lease your new one, just have the dealer that you're working with cut you a check for any equity that you have in it rather than using the proceeds as a down payment for your lease.

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CarMan@Edmunds

Hi macltdk. Dealer invoice minus the $1,000 lease cash that is available in your area is a great price for lease of a 2007 Ford Expedition right now. I believe that Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Expedition Limited 4WD with 15,000 miles per year are currently 2.5% and 47%, respectively in your area. Using these numbers, an MSRP of $48,890, and a selling price of $43,651 (dealer invoice minus the $1,000 lease cash), I estimate that this truck's zero down, pre-tax monthly payment should be around $644.

You have the right idea about your trade. You are better off having the dealer cut you a check for it than using the proceeds as a down payment on your lease.

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chucky380

X plan less a grand, lease rate 1% and 47% for rv with 15,000 miles. quoted $620 for lease.. does this look reasonable

cromano

Hi, I'm currently in the market to release again. I was quoted 2500.00 down, $635 monthly, 15K miles, 39 months from one Ford dealer, for the same exact vehicle another ford dealer offered 4700 down, $697 monthly same mileage and term. Possible to get it lower than the 635.00?? Neither dealer has offered any rebates, yet this would be our 4th lease with Ford. Any advice?? I think i'm being hagggled by these salesmen. Please help.

CarMan@Edmunds

Hi chucky380. You're getting the Expedition that you're interested in for a great price, Ford's always attractive X-Plan price minus the $1,000 lease cash that is currently available on it. The 1% lease rate that you were quoted for this truck is right in line with Ford Credit's current program for it in your area. If you like the truck, I personally don't see any reason not to pull the trigger on this deal.

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