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need a Residual Rate for a 2023 explorer, APR, and est money factor. zip 23322

eperea4meeperea4me Member Posts: 7
edited February 2023 in Ford
Recently went to the dealership to lease a 2023 explorer price $ 45,183 under the A plan they gave a lease quote of $989/ what kind of game were they playing???? The excuse they gave was the money rate is not currently good at this time.
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    kyfdxkyfdx Moderator Posts: 243,131
    Answer ✓
    eperea4me said:

    We're using the A plan , my brother works for Ford in Michigan. The cost under the A plan was the $45k,,,, after taxes and all that I believe it came to 48k. When do you expect the MF to go down? Lol MF that makes me think of something else. Original MSRP was around 49k

    With MSRP of $49K and CAP cost of $48K, the payment should be around $740/mo.

    Of course, we don't have the actual numbers, just approximations

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    kyfdxkyfdx Moderator Posts: 243,131
    eperea4me said:

    Recently went to the dealership to lease a 2023 explorer price $ 45,183 under the A plan they gave a lease quote of $989/ what kind of game were they playing???? The excuse they gave was the money rate is not currently good at this time.

    Which trim Explorer?
    Also, RWD or AWD?

    What term and mileage allowance?

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    eperea4meeperea4me Member Posts: 7
    36 month 7,500 miles per year, 4 wheel drive the vin# is 1FMSK8DH9PGA10900
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    eperea4meeperea4me Member Posts: 7
    XLT
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    MichaellMichaell Moderator Posts: 244,993
    eperea4me said:

    Recently went to the dealership to lease a 2023 explorer price $ 45,183 under the A plan they gave a lease quote of $989/ what kind of game were they playing???? The excuse they gave was the money rate is not currently good at this time.

    eperea4me said:

    36 month 7,500 miles per year, 4 wheel drive the vin# is 1FMSK8DH9PGA10900

    eperea4me said:

    XLT

    6.10% APR
    58% RV

    Yes, the MF is bad.

    But, you have to remember that you pay sales tax on the entire selling price in VA, even for a lease.

    Ask them for the adjusted cap cost used for the quote, then we can tell if the APR is being marked up or not.

    How much is due at signing for that quote?

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    eperea4meeperea4me Member Posts: 7
    the $989 payment was zero down. I'm going back Saturday to ask them what APR they used and what the cap cost is. Thank you for the info
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    MichaellMichaell Moderator Posts: 244,993
    eperea4me said:

    the $989 payment was zero down. I'm going back Saturday to ask them what APR they used and what the cap cost is. Thank you for the info

    Assuming the APR wasn't marked up, the cap cost would have to be in the neighborhood of $54,500 to get that payment.

    What was the original MSRP of this car? My calculations may be messed up because you said the selling price was $45,183.

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    eperea4meeperea4me Member Posts: 7

    We're using the A plan , my brother works for Ford in Michigan. The cost under the A plan was the $45k,,,, after taxes and all that I believe it came to 48k. When do you expect the MF to go down? Lol MF that makes me think of something else. Original MSRP was around 49k

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    MichaellMichaell Moderator Posts: 244,993
    eperea4me said:

    We're using the A plan , my brother works for Ford in Michigan. The cost under the A plan was the $45k,,,, after taxes and all that I believe it came to 48k. When do you expect the MF to go down? Lol MF that makes me think of something else. Original MSRP was around 49k

    No guesses or predictions on future program changes. With an MSRP of $49K, the cap cost now has to be around $56K to achieve the dealers quoted payment. 6% tax (I assume) on $45K is $2700, and fees are maybe $1000-1200 more, so there's a long way to go to get to $56K.

    I'll guess the APR is marked up. Ask them for a screen shot of their lease calculation worksheet.

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


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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