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Ford Explorer Lease Questions



  • Car man,

    Thank-you. I appreciate the honest feedback. What would you recommend. I just turned in an ML-350. I liked it, but was going to wait until the new 2012 came out, but was told by my dealer that they would be going at MSRP for a while. I also tried BMW X5, but with the minimum of $1500 down payments were north of $900. In short, what type of crossover/SUV would you recommend to lease with the features that the Explorer Limited comes with, specifically the 302a pkg (e.g., cool & heated seats; navigation; etc.)

  • eckerslyeckersly Posts: 2
    What are the current Residual and Money Factor for 2011 Explorer XLT FWD

    Are these numbers different if it is an AWD?

    Also, Do i do the calculations with the MSRP or the MSRP minus the Rapid Spec discount. In other words do i take the residual times the MSRP or the MSRP minus the Rapid Spec discount?

    Thanks for your help!
  • adam3477adam3477 Posts: 2
    I am in the market for a new 2011 Jeep Grand Cherokee X package. Here is the offer I negotiated on the table.

    They will buy out my existing lease payments ( approx $1200)
    Get me into an X package with Nav $MSRP $37,825 i think it was
    Selling me the car for $33,972 ($3,853 off MSRP)
    $2600 total Out of pocket
    $439/ month for 39 month ( tax in )
    12k miles a year.

    IS this a good deal or should I keep shopping?

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome mmasteryo1. Here's a list of SUVs (or crossovers if you want to call some of them that) that would cost around the same as or less than the Explorer to lease right now:

    Acura MDX
    Acura RDX
    Buick Enclave
    Cadillac SRX
    Chevrolet Equinox
    Chevrolet Tahoe
    Chevrolet Suburban
    Ford Edge
    Ford Flex
    GMC Acadia
    Honda Pilot
    Infiniti FX35...

    I think that you get the idea. There's a ton of great vehicles out there that are better deals than the Explorer to lease right now.

    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eckersly. Ford Credit's June base lease rate and residual value for a 36 month lease of any 2011 Ford Explorer is 4.0%.

    That's a good question about the option package discount. I believe that you would use the full MSRP prior to the discount to calculate your vehicle's residual.

    Prices Paid: Buying & Leasing Experiences Forum
  • I don't like the sound of that deal. Im looking at a 2011 explorer xlt with 202 package and roofrails and I calculated it at 456 $0 down. Build you explorer on edmunds and use 's calculator. I put my explorer with 4.0 percent interest and 57 percent residual. You can go lower! :)
  • I'm sorry kapnet! I used the numbers that the post #366 used. I also used a 2011 Ford Explorer XLT FWD with 202 package and roofrails. Sorry! :surprise:
  • mikem66mikem66 Posts: 1
    What are FMC's July 5th+ lease numbers and incentives for a 2011 Explorer Limited @ 15,000/yr.

    Interested in the residual / apr for Tier 0. As well as any incentives being offered.

  • debbie95debbie95 Posts: 1
    live in NY and want to lease 2011 Explorer limited. Any idea what's a good lease price with paying taxes up front ?
  • tandortandor Posts: 5
    Car man
    Can you tell me what FMC's July lease numbers and incentives for a 2011 Explorer Limited 36 month 15,000/yr.

    Interested in the residual / apr as well as any incentives being offered.

    Do you have any ideas about when the 2012's will be out and if they will offer any incentives right away or not?

    Thanks in advance.
  • tandortandor Posts: 5
    Has anybody leased under the 24 Month Lease Program they have right now?

    It looks like a good deal. I would like to see how much $$ anybody is getting off of the vehicle now since it is the end of the model year and the 2012's are out soon.
  • david260david260 Posts: 1
    Can anybody help me out with comparable lease deals? I am looking for Explorer XLT wth the 202a package. I am not done negotiating but so far the deal they are offering is $516/month plus only first month due at signing for a 39 month lease with 10,500 miles/year. I am located in Long Island, NY.

  • tandortandor Posts: 5
    This forum seems a bit abandoned... Here is what I am working on in NJ..
    24 mo Lease special
    .5% APR
    63% Residual
    15K yr
    2011 XLT 202A - Moonroof - Polished Wheels - Voice Nav - Pwr Liftgate
    Sticker $41500 -- Negotiated Price 39300
    Cant seem to get the Lease #'s right tho... Can anyone tell what they should be? I'm being quoted $509 with $3000 OOP.. Seems high
  • bretebrete Posts: 8
    carman what are the lease rates on the explorer xlt 24 and 36 months with 10,500 miles per year?
    Any incentives available on leases? Do ou think $500 over invoice is possible to obtain?
  • Here's the deal I got, seems pretty good:


    Sell price $37,947
    $1000 down pmt
    Lease 36 months, 12K/yr @ $469 per month, plus tax (I think is $1449)
  • bretebrete Posts: 8
    Xlt with 4wd, 202a, moonroof and nav
    Sale price $36,383 , msrp $40530
    Upfront aq fee and 1st payment +dmv fee + doc fee $75 total about $1200
    $457 per month for 24 months(includes tax), 10500 miles per year

    I thinK I got a great deal
    Picking it up next week
  • nvbankernvbanker Posts: 7,285
    edited September 2011
    Sticker, $46,507, paid $41,563. 15,000 mile/year lease. $630.00/month with Wear Care. 39 months, $3000 down. Wonderful dealership, Friendly Ford, Las Vegas.
  • I just leased a 2012 XLT w 4WD and Nav, seems like the 2012, the higher end models, and the 24 mos lease is a better deal than the 2011 and 36 mos.

    The MSRP was $39,700. The lease was 24 months and 15K miles per year. I basically wanted to prepay the entire thing so it was $14,050 (excluding sales tax) total for everything....and the dealer let me put it all on my credit card so I could max an airline miles deal that I wanted with my card.

    The deal that I came in for started out with the base 2WD XLT and $34,600 MRSP with a 24 mo lease was $319/mo + $4,000 down and 10,500 miles. Once I ran the #'s, upgrading to the 4WD and NAV only added $900 to the the total lease cost because the residual was 69% on the higher end vehicle vs. 63% on the base. I increased the miles to 15K per year and that added another $1,350 to the cost

    I'm in the SF bay area. Just thought I'd pass this on. Seemed like a good deal especially for the 2012. I was scratching my head because they had some 2011's but gave a better deal on the 2012.
  • 2012 4WD Explorer XLT
    Options: Package 205A, Vista Roof, Power Lift Gate, NAV, Dealer instld. Remote Start
    Selling Price: $37,159
    Out of pocket: $2000
    Monthly $509
    36 months/12,000 miles
    This inclides all taxes, DMV, doc, bank fee, etc.

    Seems like I did ok?
  • Hi Carman:

    Do you have September MF and residual value for Explorer Limited 2WD - 39 mos and 10,500 miles?

    Does the Ecoboost v. V6 make a difference in the residual value?

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited September 2011
    Hi po65ny. Ford Credit's September buy rate lease money factor and residual value for a 39 month lease of a 2012 Explorer Limited 2WD with 10,500 miles per year 4.5% and 53%, respectively.

    I don't think that the engine has an impact upon this truck's residual values.

    Prices Paid: Buying & Leasing Experiences Forum
  • Car man, would you happen to have the Oct buy rate lease money factor and residual of a 2012 Explorer Limited 4WD with 12k per year? Any benefit to go shorter or longer than 36mos? Thanks!
  • I certainly would copperskier. Ford Credit's October base lease rate and residual value for a 36-month lease of a 2012 Explorer Limited 4WD with 12,000 miles per year are 3.5% and 55%, respectively for consumers who qualify for its top credit tier.

    Your payment will definitely be higher on a 24-month lease, but you might be able to shave a few bucks per month off by going with a 39-month lease.

    Prices Paid: Buying & Leasing Experiences Forum
  • Anyone have a good idea about what an Explorer XLT 4WD option package 205A and powerlift gate and dual panel moonroof show go for on a lease in Massachusettes? The website states something way off from the dealer - who insists that the lease rate can go up 100/month just on taxes.

    Lease I'm looking for is 36 months at 12K/year.
  • Car_Man: If you would please give me the residual, and money factor/lease rate for a 2012 Ford Explorer XLT 4WD 12k, 36 39 and 42 month lease, and any incentives they have running. Thank you so much.
  • I have never leased before but am considering it, what should i look out for? I am looking at the ford explorer lease on the 2012 explorer XLT with leather for $319 and i can not figure out the factor or residual money. Can anyone help with this. I want to go into the dealer and add the mileage to 19,000 miles a year and not get screwed over. thanks for your help I live in upstate NY.
  • You can bet your payment will be $619 or quite likely more with zero down. $319 on a $40,000 SUV is too good to be true even at 10,500 miles per year. Since you're in NY you can bet your taxes and dmv, etc will also put your payment $40+ higher by themselves.

    Also, you don't want to lease at 19,000 miles per year because your warranty will expire less than 2 years into the lease. Being under bumper to bumper warranty is one of the main reasons to lease.
  • Greetings peteyboy30. Ford Credit's current base lease rate and residual value for a 36-month lease of a 2012 Explorer XLT AWD with 12,000 miles per year are 3.5% and 55%, respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 39-month lease are 3.75% and 54%.

    The numbers for an otherwise identical 48-month lease are 6.75% and 48%.

    I don't believe that Ford is currently providing any cash incentives on leases of this truck.

    Prices Paid: Buying & Leasing Experiences Forum
  • Car Man and other experts and folks with experience,

    Looking at Premium trim Enclave and Limited trim Explorer. Will add nav and entertainment. Want the car loaded. Dallas Texas. Not certain whether will lease or buy.

    1) residual and lease rate for both?
    2) any rebates, deals, or negotiating tactics or ideas for both?
    3) assuming best and expected negotiated price, what lease price should I expect for both for 36 or 39 months at 12k miles per year?
    4) what price should I expect to negotiate if I buy ( I have pre approved financing through bank) for both?
    5) anything else I should know or consider from a financial standpoint for both?
    6) thoughts on which vehicle I should buy. They both approach the small crossover three row suv differently, but we like both and appreciate the access to the third row with the captain second row. Anyone own one and like or dislike specific features?
    7) finally, I will be trading in an 08 Lexus es350 with 34k miles on it. The car is in very good shape and shows well. What should I be able to get on trade in?

    Really appreciate help on this. I'm a used car guy that normally sells my old car myself. I'm treading in unfamiliar water and could use help and guidance. I hope to do a deal tomorrow.
  • engrgradengrgrad Posts: 3
    edited December 2011
    My wife wants to lease a 2012 Explorer XLT 4x4 with 205a package, trailer tow, leather mytouch, moonroof and the 3.5 l v-6. I drove it last night and we liked it.

    My wife wants a 27 mo lease w/19500 miles per year (Michigan).

    Dealer is quoting the following:

    MSRP is $42330

    1. A plan price: 38,058.93
    2. Residual: 60%
    3. Rate 1.5% (0.000625)
    4. Acquisition Fee $595

    Monthly payment is 466.08/mo with only first month's payment down.

    Note that Ford is currently offering 2000 incentive for non Ford lease holders to come and lease a Ford. But dealer says that with leasing, the 2,000 is applied as a down payment and not used against the MSRP if I were to purchase. I am not sure this is correct, but it allows us to leave the dealer with only the first month's payment.

    Car man et al - does this sound like a decent deal? I run spreadsheets and it appears legit but I am likely missing something w/regards to the non-Ford lease incentive.
This discussion has been closed.