Finance or Lease For 2020 Mustang Ecoboost

ArmeniaXArmeniaX 91201Member Posts: 12
edited October 2020 in Ford
Hi all

I spent few days in this and other forums, I know that Ford mustangs are bad for leasing and financing, and if I want one better to go with GT, BUT I drove The Ecoboost model, and that fits my needs.

I came up with some numbers, so I need your help to understand, which one is better

Car MSRP is $33,500
Selling Price is $29,485

LEASE: My monthly payment is $450 with $1000 drive off, so in 3 years I would have spent $17,200
FINANCE: If I do 5 years with 2.9APR, my monthly payment is around $540, and after 3 years I would have spent $19,440.

If I want to buy out the car for both scenarios.

LEASE - The Residual is 49%, so buying out would cost me $16,415.
FINANCE - I will have to pay the rest of 2 years, which will be $12,960.

So which option do you guys think I should go with?

Comments

  • MichaellMichaell ColoradoModerator Posts: 194,636
    ArmeniaX said:

    Hi all

    I spent few days in this and other forums, I know that Ford mustangs are bad for leasing and financing, and if I want one better to go with GT, BUT I drove The Ecoboost model, and that fits my needs.

    I came up with some numbers, so I need your help to understand, which one is better

    Car MSRP is $33,500
    Selling Price is $29,485

    LEASE: My monthly payment is $450 with $1000 drive off, so in 3 years I would have spent $17,200
    FINANCE: If I do 5 years with 2.9APR, my monthly payment is around $540, and after 3 years I would have spent $19,440.

    If I want to buy out the car for both scenarios.

    LEASE - The Residual is 49%, so buying out would cost me $16,415.
    FINANCE - I will have to pay the rest of 2 years, which will be $12,960.

    So which option do you guys think I should go with?

    If your intention is to keep the car longer than the lease term, just buy it from the start.

    You avoid the acquisition fee up front, and when you buy it out, you have to pay sales tax and finance it at what is likely to be a higher APR.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

Sign In or Register to comment.