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Ford Explorer Lease Questions

1911131415

Comments

  • ootsie79ootsie79 Member Posts: 7
    Hello, all. Have been doing research on the Explorer for my wife and found this forum which has been very helpful! Hopefully someone can provide me feedback on the deal I've negotiated on a base XLT with no options in NJ.

    MSRP $33,400
    12,000 miles/year
    $2,000 down total including tax, tags, fees, and first month's payment.
    $279/month

    This is the lowest I've gotten after going to 3 dealerships. Would appreciate any input. Thanks!
  • rehab702rehab702 Member Posts: 14
    You left out a critical part of the equation. How many months is the lease?
  • mike2555mike2555 Member Posts: 18
    I am looking for money factor and residual value on a 2013 Explorer Limited with rear seat entertainment. I am in Southern California and need 12,000 miles per year on a 36 month lease.

    If anybody has this information it would be much appreciated. I am in the process of formulating the numbers.

    Thanks
  • ootsie79ootsie79 Member Posts: 7
    Yes I did...36 months. We're scheduled to sign on Friday.
  • rehab702rehab702 Member Posts: 14
    Doesn't say anywhere in your original post that it was 36 months, maybe you had an earlier post that I didn't see. Either way that clears it up. Thanks!
  • ootsie79ootsie79 Member Posts: 7
    edited February 2013
    Sorry...meant yes I did forget to include it. Was my mistake. Thanks for responding to my post.

    More info that might be helpful, I think they're using a .25% interest rate, and when I run the numbers, I came to the conclusion that they're using a residual of about 58%, which I believe is good.
  • rehab702rehab702 Member Posts: 14
    I'm looking at the same vehicle and trying to determine whether to buy or lease. The residual and interest rate look very good.

    What rebates did you qualify for?
    Does your monthly payment include sales tax?
  • ootsie79ootsie79 Member Posts: 7
    edited February 2013
    Qualify for about $3,000 in incentives which includes $1,000 in conquest cash.

    Payment includes sales tax. Residual might actually be a bit higher because the lease calculator didn't calculate registration and title which is included as well.

    We also requested the Explorer brochure in the mail which may or may not contain a coupon for more off. Dealer said if it comes before Friday, he will honor it.
  • rehab702rehab702 Member Posts: 14
    Excellent! I qualify for the lease conquest and received a $750 certificate in the mail.

    Good luck and thanks for the info.
  • ootsie79ootsie79 Member Posts: 7
    How long did it take you to receive the $750 in the mail? We submitted an online request on 2/2/13. Received a brochure, but no coupon.
  • rehab702rehab702 Member Posts: 14
    The coupon is part of the brochure - the inside of the back cover. It says, "$750 Cash just for you" and can be combined with other offers. It only took a week or so to receive it.
  • ootsie79ootsie79 Member Posts: 7
    I called Ford Marketing Headquarters. Our market area is not getting the personal cash voucher right now so that's off the table. Would have been nice.

    Good luck!
  • rjoh1969rjoh1969 Member Posts: 9
    Interesting. I have been told the $750 private cash offer cannot be combined with $1000 conquest cash. It does state on the brochure that it can be used "in addition to any current public offers." $3750 in rebates would be GREAT!
  • nkf2008nkf2008 Member Posts: 88
    Just got this lease quote for the XLT with 202A package, around the NY tri-state area
    10K per years, 36 months, MSRP: 35825 (with the 2000 incentive included)

    With only 1800 drive off money, 425 per month.

    Is this a good deal or is there better deals to be had for this truck ? thx
  • drockholddrockhold Member Posts: 34
    What type of engine is on this vehicle. a v8 or the EcoBoost v6?
  • liman2liman2 Member Posts: 6
    edited February 2013
    I think you are quoted too much. I just got mine in January. Below are the details:

    2013 XLT 4WD 3.5L V6 TIVCT
    Has the 202A package with rear view, myford touch, voice activated sync, comfort package + Leather, Heated seats, Power lift gate, Voice activated Navigation and some extras.
    Total sticker price before rebates and discounts is $39,700.
    After applying all discounts the price they are using is about 34,000.
    (Included in the discounts is a $1000 discount for Lease conquest...since I was getting out of a competitor lease).

    Deal is $395/Month 15K miles per year, 36 months.
    Zero down. Total out of pocket is for taxes, DMV, registration and plates = $1950.
    Also included was free car service (oil changes etc) for the full term of the lease.
    I got this deal at Levittown, Ford
  • nkf2008nkf2008 Member Posts: 88
    thanks for sharing, i knew that there are better deals to be had. :D
  • ootsie79ootsie79 Member Posts: 7
    Yeah...I would have loved to get that. We called Ford marketing 3 times but they won't give it to us. We're picking the Explorer up tomorrow.
  • jimbrowski00jimbrowski00 Member Posts: 2
    Can I get the Money Factor and Residual for a 2013 XLT with 10k miles and 39 months in Southern California?

    Thanks!
  • nighthawkn117nighthawkn117 Member Posts: 7
    Hello,

    I've done the math and sounds great to me. Wanted to get your opinion. I do have XPlan:

    2013 Explorer Sport
    MSRP $51,785 - Almost all options
    $2500 in Rebates - Includes 1K in Lease Conquest.
    $779 out of pocket for first month, and some fees.
    36 Months at 15K/YR

    $579 a Month including Tax

    Your thoughts are appreciated
  • qtrhorsesqtrhorses Member Posts: 2
    Just began to shop for a Ford Explorer Sport. Based on Nighthawkn117's number I expected a better price than I received. On a 36 month lease with 15k per year with a MRSP of $48,775 No money down except fees and taxes they originally quoted $575 per month. My salesman was new, so even to get this price took them forever. It was based on a discounted price of a little over 46K. I knew this was not reasonable. After another 45 minutes they came back with $560. Since this lease is on a MSRP 3k lower than Nighhawkn's his price of $579 sounds good compared to my $560 which seems like it stinks. Am I missing something? Any thoughts on his numbers or mine?
  • paperboycccpaperboyccc Member Posts: 93
    Did you read the thread on how to get a good lease deal? What's the residual, what did they do to go from $575 to $560? What's the money factor? What are the fees?

    Do you have multiple Ford dealers within a 1-2hours drive? Sit at home on the computer and negotiate with multiple dealers simultaneously over the internet. Don't visit a dealer until they give you every last detail. You have all the negotiation power at home. At the dealer they wear you out with the waiting game.
  • qtrhorsesqtrhorses Member Posts: 2
    Hey Paperboy, I have 5 months on my current Audi lease. I went into the dealer to see if they would get me out of my current lease without it costing me anything so I admit I was not prepared. I thought the most important factor on a lease was the purchase price, with residual & MF coming from Ford. After 3 hours and barely any negotiating this time was spent mostly with the saleman and manager by themselves figuring all this out that when I left I didn'teven know what the sales price was that they were using to come up with the $560 let alone residual & MF. I really just wanted to get out of there realizing I needed to do more homework. Good news is I live on Long Island where there's plenty of dealers. I agree with you, I will start with trying to get prices from dealers on the internet. I was checking here to see if anyone recently priced a 36month 15k mile lease on a sport around a 48k MSRP to see what I should expect.
  • cartunrcartunr Member Posts: 4
    edited February 2013
    TOTAL MSRP $48,565, Just quoted 0 down $552, 36 months 10,000 mi per year.. Sport with following options Optional Equipment,
    2013 MODEL YEAR
    WHITE PLATINUM MET TRI-COAT 595
    CH BLACK PERFORATED LEATHER
    .3.5L V6 ECOBOOST ENGINE
    .6-SPEED AUTO TRANSMISSION
    DUAL PANEL MOONROOF 1,595
    TRAILER TOW PACKAGE 570
    JOB #3 ORDER
    PERFORATED LTHR HEATED/COOLED
    SELECT SHIFT TRANSMISSION
  • nighthawkn117nighthawkn117 Member Posts: 7
    Hi Everyone,

    Thank you all for you help. I picked up the vehicle two days ago with the numbers I posted above.

    One trick I found is that if you're a Costco member, use their Auto option for recommending dealers. What they do is they have dealers compete against each other and place the lowest bids for how far a dealer is willing to get to invoice or below invoice. Then a dealer is awarded the yearly "contract". The dealer that was recommended was quoting me $200 under invoice. So it does work and takes away the negotiation aspect of it. Especially with the Explorer Sport which is high in demand.

    If you don't have a current non ford lease in your household, you can use a tip that I received on this forum. Which is go to Ford.com and request the brochure for the vehicle you're interested in. Many times it will include a discount that cannot be combined with a Lease Conquest, but can be used in its place. I received mine and it had $750 discount in it.

    I would recommend you make your own excel sheet or use the Edmunds lease calculator and compare their numbers with what you think is right. Run a few scenarios at home or do it on your mobile phone. I would start with as close to invoice as possible.

    P.S. I did NOT end up going with the Costco Recommended Dealer because the service and salesman were terrible. So I paid $300 more for a better experience. But their numbers were great and they didn't mess around with that portion.

    If someone is in the southeast Michigan area, and is interested in a great Ford dealer and a fantastic salesman that was upfront and great to work with, please send me a note and I'll send you all their info. This is my 12th car purchase, and by far the best experience.

    Hope this helps.

    Thank You
  • bashinbashin Member Posts: 27
    I am trying to finalize an Explorer Sport this weekend. Can someone please tell me the MF and residual for 24 and 36 months on 10,500 miles in the mid-atlantic region?

    Thank you in advance.
  • rp07rp07 Member Posts: 6
    Question for the forum. I am looking to lease or buy a new Explorer in the next couple of weeks in Northern NJ. I've bought or leased 8-10 cars between my wife and I over the years and have the knowledge that many here do about the process. So I went to the Ford website and put in my contact info for dealers to reach me. I heard from 3 via auto email responses and two salesmen called me. Te third sent an email but never called. I told them I am highly interested in the car and asked for lease numbers. One guy gave me a monthly payment only and aced like he never heard of a money factor, residual and sales price when I asked what they were. He said he had to get those from his sales manager and that he would call me back. He never did, three days ago now.

    I spoke to a second dealer today and told him that I was hoping to get the car in the next week, and that I wanted to to do all the negotiations over the phone. He said he would get lease numbers and all me back. He never did either.

    I do not understand why these guys are not willing to give me a quote over phone. Is there some policy for Ford where you have to go in to the dealer to get a price? I've leased or bought from Acura, BMW, Infiniti, Audi, and Buick and have never had so much trouble getting simple information. Am I missing something or just dealing with bad salesmen?
  • dylrexdylrex Member Posts: 111
    I've been having the same problem with Chevy dealers. I've dealt with Honda dealerships for the past 10 to 15 years and never had this much trouble.
    I think they don't like dealing with people that know what they're doing.
  • rjoh1969rjoh1969 Member Posts: 9
    I'm having the same issue with Ford dealers. Internet "sales" repeatedly requesting me to come into dealership and then it'll go more than a few days without any communication.

    I may still pursue the Explorer but there is ONE little thing that really bothers me about this SUV. Unless you get the Limited, you will NOT get the universal remote (homelinlk transmitter) at ANY cost. Silly I know, but this is standard equipment on most cars, trucks, SUVs costing thousands less.
  • mrbiggmdmrbiggmd Member Posts: 2
    2013 Explorer XLT

    Options:
    202A
    Moonroof
    Tow
    20" Wheels
    Nav
    Power Lift

    MSRP $42,550
    Seling Price $40000
    $1750 in Rebates and $500 out of pocket
    36 Months at 12K/YR
    $454/month
  • green69green69 Member Posts: 17
    I would think your close, but should be able to do a little better. I leased this same car on a 15,000 miles a year, 24 mo. lease at the same price, sales tax included, same amount down.
    A 36 mo. Should be better than 24 and 12,000 miles less than 15,000. That said, I would think you should be able to get this down to about $425. To $430.
    Sales tax included. Good luck! Try getting another bid to compare and see if they will beat this one.
  • sullywhosullywho Member Posts: 4
    Where was this deal offered?
  • mrbiggmdmrbiggmd Member Posts: 2
    Byers Ford in Delaware Ohio.

    I got an offer from another dealer but it was not as good.

    Thanks for the feedback.
  • What dealers are you looking at? I am in Columbus looking for a deal as well and have yet to find any dealer of value. Most of them treat me like I don't know anything. One dealer told me that invoice of a 45k Limited was 44k. I had to leave after she kept telling me I was wrong and I showed her what true invoice was using my edmunds app. Too much info out there to be shady... You think these guys would have learned that by now.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi brete. Ford Credit's base lease rate and residual value for a 24-month lease of a 2013 Explorer XLT 4WD with 10,500 miles per year are 0.25% and 66%.

    As far as cash incentives go, there is $2,000 on leases of the '13 Explorer in your area for everyone and an additional $1,000 for returning Ford Credit lessees.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go jimbrowski00. Ford Credit's February base lease rate and residual value for a 39-month lease of a 2013 Explorer XLT FWD with 10,500 miles per year in Southern California are 0.5% and 55%.

    There is a $2,000 cash incentive on leases of this truck in your area right now. Make sure to take this cash into account when negotiating your vehicle's capitalized cost.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly bashin. Ford Credit's current base lease rate and residual value for a 24-month lease of a 2013 Explorer Sport with 10,500 miles per year are 0.25% and 67%.

    The numbers for an otherwise identical 36-month lease are 0.25% and 58%.

    There is a $2,000 cash incentive on leases of this truck in your area right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good question rp07. This isn't an official policy of any automaker, just old school sales tactics. Conventional wisdom in the industry is (and there may be some truth to this) that if you provide someone with a quote over the phone they'll never buy from you...you'll just shop that quote all over town until you beat it and they'll never see you again. Dealers really try to suck consumers into actually physically going to the dealership where they can use their Jedi Mind Tricks to get you to sign paperwork and actually commit to buying a vehicle on the spot. Physically going from dealer to dealer isn't very efficient, particularly in today's age of technology, but it is often the best way to prove that you are a serious buyer and to get the best possible deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rehab702rehab702 Member Posts: 14
    Can I get the March lease rate and residual for a 36 mo / 12k miles lease for an Explorer XLT both FWD and AWD.

    Thanks!
  • salsportsalsport Member Posts: 1
    edited March 2013
    Hi Car man, I am trying to lease an explorer sport with an msrp of 43,500. I am returning a mercury mountaineer premier loaded and have a 6 month early termination from ford. There is also 2000 in incentives. I am at 370 on my old car and trying to break under 400 for the sport. iam looking to add 20 to payment and put 2500 down which includes taxes and tags. the lease is for 36 mo;s with 13500 milage Am I in the ball park I understand turbo has better residual. Also can you tell me what type of milage feedback you have heard on turbo. My mountaineer was apig getting 11.5average. Thanks in advance lease would be ny or nj
  • frackingfracking Member Posts: 7
    Is the MF then .0001?
  • rehab702rehab702 Member Posts: 14
    edited March 2013
    Hey Car Man

    Do you have the March residual and lease rate for an Explorer FWD XLT 36 months and 12K miles? This is in Nevada.

    Thanks
  • frackingfracking Member Posts: 7
    Car Man / Forum Readers,

    For those looking to lease a Ford Explorer XLT 2Front wheel drive. Closed on the following deal:

    MSRP 39,300
    Payment $364 , $389 with tax
    10,500 miles per yr
    Sign and Drive. 0 money down, inceptions or tag. Inceptions rolled into the Cap cost.
    I beleive the car has a 57% residual value and an interest rate on depreciation of only .25%.

    Also there were $3,420 in inception money including 1000 lease conquest.

    I hope that helps others shopping for a vehicle. I purchased from Al in Lakeland Fl.
  • mtlnymtlny Member Posts: 2
    Good deal or not?

    2013 new Explorer XLT 4WD
    202A
    Dual moon roof
    Voice activated Nav
    MSRP 40785
    neg to 38000(below x plan)
    rebates 2000
    college rebate 500
    trade 3000

    $328/ month tax incl
  • green69green69 Member Posts: 17
    How many months? How many miles per yr.?
  • mtlnymtlny Member Posts: 2
    Sorry, 36-12,00
  • green69green69 Member Posts: 17
    Thats a good deal! Factor out the $3,000
    trade in you have and your actually paying
    about $418.00 a month. That trade is just like cash
    down and you can roughly figure for every $1,000 you
    put down, it will reduce your payment $30.00 a
    month on a 36 mo. Lease. This is A fair price for the car!
  • fenderman2fenderman2 Member Posts: 11
    For what its worth...picked up an explorer sport msrp over 49k, with dual roof and 402a package + advanced cruise. Monthly payment is 481. 0 down NO other fees. First payment that's all. THIS INCLUDED registration 12k 36months
  • destinymdestinym Member Posts: 20
    Just lease our Ford Explorer today.

    XLT with voice activated navigation, 202A package, alloy wheels.

    MSRP: 39285.00
    Discounted Price: 37504.00
    Rebates: 3175.00
    Residual: 24750.00/63%
    Percent: 0.25%, which I think translates to a 6% APR???
    Trade-In: -5721.39 (upside down)
    Cash Down: 4721.39

    Payment for 23 months: $560
    No first month payment, free maintenance plan

    Did we just get taken to the bank our is this a good deal.
    All these numbers made my head spin!!!

    Thank you!!!
  • toast2toast2 Member Posts: 6
    Car_Man,
    Can I get rates and your opinions...I would like to get rates for a Explorer Sport lease in So Cal. Seems like the Ford sales people are not familiar with MF's or they don't want to dispense that info.

    Do you suggest getting maintenance package included in lease price?
    In general do lease deals get better toward the end of the year?
    I was planning on leasing a car at the end of the month since I've read that is the best time but was contemplating waiting to see the incentives and rates for April.

    Thanks for this forum and all your info.
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