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Comments
If you want to lease, the Mustang probably isn't for you. Having said that, you may want to wait until tomorrow before you give up all hope. I heard that Ford recently introduced lease support on the Mustang in a couple of areas. It may be using this small offer as a pilot program with the intention of possibly rolling out lease support on a much larger scale on this model in the near future. Please feel free to check back with me in a couple of days and I will be happy to fill you in on the details of Ford's new July incentives.
Car_man
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Could you please post the interest rate(MF) and residual for the 2011 Base Mustang V6 with a manual transmission & the GT Base for 24 & 36 months; 10,500k per year. No sure if region pays a role, but I am in KY. I appreciate it.
If that is indeed the case, then you definitely don't want to lease one because Ford's standard lease program is not very attractive.
Instead, I probably would finance this car at 1.9% for up to 3 years, 2.9% for 4 years, 3.9% for 5 years, or 5.9% for six years.
Car_man
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can you provide me with the following information on a 2011 Mustang V6 Premium with Automatic Transmission, Electronics package and rear view camera on a 36 month, 12000 miles/yr lease, in NYC
MSRP
Invoice
Residual %
Residual $
Money Factor
have been doing research on some family sedans, things like malibu, passat..etc. but i am really not into those cars.
Today this idea pops into my mind, how about a 2011 mustang? but the question is, will it go well with my baby?
i guess the rear seat will be very narrow and it is gonna be baby seat friendly?
how do you think?
As you can see, Ford Credit publishes lease rates for the vehicles that it leases instead of money factors. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.
Ford is not currently providing any cash incentives on leases of this model in your area.
You can find the exact MSRP and dealer invoice of the car that you want over in the New Vehicle Pricing section of Edmunds.com.
Car_man
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Car_man
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Do you have lease info on the 2011 GT500 coupe? I am in NY and I am looking for lease rate (money factor) and residual on the car at 3 years 10k/mile a year.
Thanks!
You can lease a G37 coupe for just a bit more. Some cars with comparable prices as the V6 mustang can be leased for $199 a month with little if anything down.
The car is super cheap, and has descent resale value.. why not just purchase it rather than lease it?
Would you please post the MF and Residual for a 24 month lease with 10.5k miles per year on the Base Mustang V6 and Base GT. If you could indicate the residual difference on the Premium models as well I would appreciate it. I am in KY. Thank you.
I don't think that the addition of the Premium Package makes a difference.
Car_man
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I am looking to lease a 2011 / 2012 V6 premium coupe with the comfort package and the 202A package.
The Invoice according to Edmunds is 32024 and the MSRP is 34780.
I need 12 - 15 K a year for 24 months....
1) What is the the money factor and residual value so I can determine lease payment? (BTW - How do you find these?)
2) Is it better to go through a lease broker and if so do you recomend any in hte Nrothern NJ area near NYC?
3) Are there any diffrerences between the 2010 / 20100 / 2012 models?
Thanks for helping out, your advise on the maxima deal was very helpful.
so I just need residual percent and money factor with an MSRP at 34,780 and a purchase price of 29,000.00
thank you!
So, I went down to the dealership because they have multiple 2011s on the lot. They said they won't lease them anymore. My only option would be to lease a brand new 2012.
Does this seem true to any of you? I tend to think they are just pulling my leg. Any thoughts?
In any event I am inthe northeast and is the deal on the table:
2012 V6 premium, comfort package, 202A rapid spec (Lava Red with the lava red interior)
2500 down which covers taxes, fees, DMV & first payment
39 months 12K a year
422.00 a month with a $17,687 buyout and no fees if turned in.
Includes a 1000 other manufacture lease discount and 750 coupon discount which I obtained from a broshure you order by mail from ford specifying purchasing within 30 days.
MSRP is 34780
residual is 53% according to the dealer - still havent figured out the money factor
I doubt that you will be able to get a better deal on a lease of this car through a broker than you would be able to negotiate through a dealer and Ford Credit.
Car_man
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Could you please post the MF & residual for a 2011 Mustang GT Premium w/ Auto Trans; 10,500 miles per yr and 24 or 36 month term. If not to much trouble, could you post the numbers for a 2012 Mustang V6 auto as well? I would appreciate it. Thanks!
The numbers for an otherwise identical 36 month lease are 2.75% and 60%, respectively.
The lease rates for otherwise identical 24 and 36 month are 1.25% and 3.25%.
Car_man
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What are the current 2012 Mustang GT Premium (Coupe) lease rates and residuals for 10,500 miles per year and 24 and 36 months? Thanks.
The numbers for an otherwise identical 36 month lease are 3.25% and 57%.
Car_man
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I know US Bank is at 64% residual and .00182 MF on a 36/mo, 12K mile lease on the 2012 Mustang GT (and GT500).
Do you know if US Bank is offering any bank incentives?
Flipping between the 2012 GT/brembo pkg (already ordered - replacing my 2011 GT/Brembo0 but now considering the Shelby/GT500.
Any bank inventives on the shelby that you know of -- or if Ally's has a better rate?
thanks,
damon
I am about to lease the the v6 premium converible automatic with pony package 202A, comfort package, remote start in the now discontinued color of Lava Red.
MSRP at time of order was 35,125
-1000 off lease incentive
-750 ford coupon
2500 down plus DMV
Thery gave me the following numbers so far
msrp - 35125.00
residual - .51
rate 3.5%
term 39 months - 12K per year
payment will be 416.48
trying to get what the negotiated price is but overall does this seem like a good deal?
Keep in mind the color was recently discontinued - only a handfull are painted this color. Is that a postive or a negative?
Thanks so much for your assistance.
Hope you are well. Could you please post residual & interest rate for the 2012 Mustang Base Coupe V6 w/ auto trans and 2012 base V8 coupe. Thhis would be for 24 or 36 moths with 10.5k per year. I appreciate your help.
Car_man
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The lease rate that you mentioned sounds a little high as well. Ford Credit's current base lease rate for a 39 month lease of a 2012 Mustang is only 2.5%. Make sure that the dealer uses this rate to calculate your car's payment.
If the color that you want is really in demand then yes the fact that it was discontinued could be a disadvantage during negotiations.
Car_man
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The numbers for an otherwise identical 24 month lease are 0.25% and 62%.
Car_man
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You mentioned $1000 lease incentive.
Which is this incentive?
I am going to LEASE a Ford Mustand 2012 convertible next month. It is in build right now. I am able to get the $750 Ford coupon off, but the dealer never mentioned the $1000 lease incentive.
Can you give me the details on the $1000 lease incentive?
Thanks
Vaibhave
So right now there is $1500 cash back + $1000 lease conquest money -- and any other incentives (order a brochure by mail and you'll get a $750 coupon).
If you have own other Fords, there is loyalty cash of $1000 as well.
So you're looking at $4250 in incentives. Use truecar.com to get the best price in your area (often lower than invoice or x-plan) and you'll buy the car for at least $4250 under invoice. US Bank's lease program is 64% residual and .00182 (~4% interest) which is pretty healthy. You can pick up the car with no down (less incentives) and just drive off in the very low $300/mo range tax included.
d
Are you sure the $1500 cash back can be used on a lease? I was told that only $250 was available in "lease cash" + the $1000 conquest cash. the sales manager printed out a sheet that said cash back was for purchase only. Do you know of an easy way to find out which dealers use US Bank as an alternative to Ford, in terms of leasing the Mustang GT?
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
What are the lease money factor and residual, for 2012 Ford Mustang V6 premium convertible. This is for a 10,500 miles per year and 36 month Lease.
My dealer quoted 3.25% and 54% residual. Are these correct?
Thanks
Vaibhave
I will definitely inquire with US Bank to find out their lease rates.
Car_man
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Where can I get these lease numbers from, which I can then show to my dealer.
Is there a website which lists these numbers.
Or Should I call the Ford Credit company itself and ask in writing for their leasing rates.
Thanks
Vaibhave
I talked to US bank, and they told me that they don't do car leasing.
How do I find a US bank branch, that does car leasing?
Thanks
Vaibhave
US Bank does lease cars, so the person you spoke to is wrong (I've leased 3 cars with them: BMW 745i and my last two Mustang GT/Brembo pkg cars - 2011 and a 2012 I just took delivery of).
They don't deal direct with customers, you need to have the dealer setup the lease.
I'm not sure what car you are looking at right now, but check in here to get the "real" residual and money factors, as 95% of the dealers out there will try and "pad" the money factor with a few extra interest points (money factor is just the leasing term for interest rate. To convert MF to interest rate, take the money factor, generally listed like ".00225" and multiple it by 2400.
If you are looking at the Mustang GT, US Bank's real numbers are:
61% residual (on a 36 month lease, 12k miles a year) and
.00182 money factor or 4.37% interest rate.
The dealer I bought the car from tried to play games, thinking I didn't know the actual numbers and quoted me 61% residual and .00284 money factor (or 6.82% interest, 2.5% interest points higher... or ~$50 more a month. After calling him on it, the finance manager was quite embarrassed. So you need to go in educated.
Lastly, whatever vehicle you go with, go to truecar.com for best pricing, on average they are all lower than invoice. Also remember that any rebates ($1500 on the mustang gt for example) is "your money" it's manuf. to customer. So if they aren't selling the car for invoice, don't let them try an use that money to get to invoice. The price is invoice and the $1500 is your money - use it to cap reduce the lease or pocket the money, up to you.
In my case, the 2012 Mustang GT Premium MSRP was $37,800~. Truecar.com had three dealers that would sell it for $32,777. So that's what i bought it for and used the $1500 as a further cap reduction to lower the payments.
The configuration was:
-GT Premium (6-speed manual)
-401A Rapid Spec interior (nicer leather seats, dark trim and better shifter),
-Brembo Brake Package (also has better rims and pirelli p-zero tires and
further suspension tweaks),
-3.73 gears,
-Rear Back-up Camera (kind of cool, shows up on the rear view mirror).
This was the same configuration I had on the 2011 and is a great setup. It's also the same configuration that Motortrend tested against the M3 and beat it across the board, less at the race track, where it came in .09 sec slower (87.76 vs 87.67 for the M3. However, it beat the M3 in the figure 8 (both in time and lateral G's, ran a 1/4 mile of 12.7@111mph to the M3's 12.8@110 and out braked it by 2 feet (108ft 60-0 to the M3's 110ft).
If you have any questions feel free to PM directly, I'd be glad to help with your lease and provide any info (regardless of what vehicle you go with).
Car_Man who moderates here and is a great resource can provide the current residual/money factor programs from US Bank on any vehicle you are looking at, but the numbers I quoted on the GT are the current ones and the 'actual' ones. Be very aware at what the dealer tries to quote, as they will all try and get away with padding it, thinking people don't know the difference.
Best,
Damon
p.s. a good calculator to use that will get you in the general ball park of what the lease will be (+/- $20) is: http://www.leaseguide.com/calc.htm -
...also US Bank is very friendly as the lease comes near a close -- and will call and negotiate a buy out. On the BMW, they paid the last 6 payments and sold it to me for the end of lease residual price v.s. Ford or BMW, who don't budge at all, since they have dealers and CPO programs to put the vehicle into. So the bottom line is US Bank would rather give you a good deal to buy the car (and resell it if you want or keep it) vs. taking back iron that they'll have to run through the auction.
On the BMW - worked out very well, saved $5500 in the payments they "ate" and buying it at the residual price - ended up selling the car for $10K more than the buy out, so that + the $5500 in payments I didn't have to make - the net-net was +$15K. I pocketed half and used the rest as a cap reduction (aka down payment) for the FX45 I picked up at the time as a replacement.
You quoted me lease rates of 2.25% and 53% residual for Ford Credit.
Does these lease rates change with region?
I am in San Jose, California.
Can you also tell me the lease rate and residual values of US BANK for
"2012 Mustang V6 Convertible Premium with 10,500 miles per year".
Thanks a lot for your help.
Vaibhave
Thanks for such a detailed reply.
My dealer didn't have tie ups with US bank.
So, I finally leased the Ford Mustang v6 premium convertible, from Ford Motor Credit.
I got it for invoice price minus $1000 rebate, 53% residual and 2.75% lease rate.
This came to $396 per month, with $2600 down.
I think I got a good deal.
The dealer has given me a day to decide on the "Wear Care" package, which offers $2500 for excessive damage at lease end.
The cost is $750 for me.
Now my question is
Is this package really worth and useful,
and is the $750 a good price?
Thanks for your help.
Vaibhave
What was the MSRP of the car and what was the selling price (before the $2600 cap reduction and $1000 rebate)? the interest rate is good, residual seems a little on the low side, since Ford has been running promo's on their V6's (they don't have a GT program).
$750 is a lot for the wear and tear and really not needed (especially when they are only covering $2500). It's also not something you can residualize in the lease, so it came out of the down payment. On a lease, unless you show up with a 3 foot scratch or a big dent, you're fine.
First there is the normal wear and tear and secondly, near lease-end with ford you'll get a package. In it includes a measuring tool - little bigger than a credit card with a ~.50 cent hole in the middle. Any scratches less than the length of the card or door dings smaller than the hole in the car are acceptable.
So if you can, go get your money back on the wear and tear package the finance guy sold you (the finance dept is where most people get taken on items they don't need - and it's stuff that is pure cash for the dealer. The most I'd have paid for that protection package is $100-$125 (and would have still passed on it).. it's all "soft money" stuff and you'd be amazed how quickly they'll drop the prices.
On an expedition I purchased a while back (it was a CPO, which came with a 6 year power train warranty), they wanted to sell me the Ford "bumper to bumper" extended warranty for three years or four years, forget at the moment with a $250 deductible per incident. A simple "no" dropped it to $1500. A second "no" dropped it to $850 with a zero deductible - which was a decent deal. However, it shows you how much margin there is in this stuff. $750 for $2500 in coverage - the ratio just doesn't make sense. Even if you had some dings beyond what they allow, the repairs would likely cost less - if even needed. The finance guy is one of the biggest crooks in the dealership and uses fear to sell you stuff you don't need. Generally they'll hand you a paper with 5 options on it (like the wear and tear or free replacement wearable parts (brake pads, etc) for some price and a few others and ask which ones do you want. Always point to a blank part of the page and say "that one", haha. .
Anyhow, with the purchase #'s, I can give you a better idea on the lease, but in the short term, go get your money back on the wear and tear package - put that $750 for your next 2 payments or pocket it.
As example, my 2012 GT Premium/Brembo/etc as noted previously with ~$38000 MSRP, leased for $410 w/tax included (8.75% here in Los Angeles) on a 36/mo lease.
Either way, congrats on the new car and enjoy it!
Oh.. also, how many miles a year did you go with? Ford Motor Credit offers 10,500/yr, 12,000//yr and 15,000/yr. There is a +/- 3% difference in residual value for example from 10,500 to 15,000 a year.
best,
damon
The MSRP of my car is $33000, and the invoice is $31,289.
Got $1000 rebated over the invoice.
I got $10,500 miles per year.
Definitely you got an amazing deal for GT. No-one in San Jose Bay area was offering anything better than I got.
Also based on your recommendation, I have decided not to go for the $750 wearcare package.
Thanks
Vaibhave
Glad you ditched the wear and tear package, waste of money imo.
As for the car - I did a quick search on Truecar.com -- if you already made the deal, don't worry and enjoy the car. However, there are three dealers in your area that are selling the car for $28,500-$28,600 (guaranteed price). Also checked Cupertino as well, same pricing.
Also the rebates are $1500, but the RCL lease might only have had a $1000 incentive, not sure on this, but still, would have put the purchase price at $29,000. So you only paid ~$1000 more, not terrible, but something to note for the future.
All in all, you did alright on the lease. Their claim to not supporting US Bank is a questionable statement, every Ford dealer does - as it's the only way to lease GT's at the moment.
If I were you, go to t r u e c a r . c o m (not sure if edmunds is blocking the site) and put in your zip code and it'll give you the list of dealers (one was Sunnyvale Ford. Call them and ask what the current program is from Ford on a 10,500 mile lease, my guess is it's 56% (you get +1 point for each mileage level, 15K being the lowest, 10,500 being the best and +3 over 15K. Tell them you know that US Bank is 61% and .00182 (4.37% MF) and want to know exactly what Ford's program is on a 10,500 and 12,000 mile for your own gut check. By quoting US Bank's #'s they will be less likely to give you the wrong information. Also be sure to ask this of the finance dept and not a sales person - you could scribble everything they know about leasing on a piece of rice and still have room left over
If I get a free moment, tomorrow I can check on them for you with the dealers I work with in LA (Galpin Ford - the largest retail dealer in the U.S. and I have a VIP/corporate account with them) but they didn't have the car specs I wanted, hence going to the other dealership. Either will give me the real programs). But I still think 53% still seems low for a 10,500 mile lease, especially since the have a V6 lease program in place with Ford Motor Credit (US Bank is 61%/.00182 MF). However, still call yourself in case I get tied up and don't get a chance for a day or two, as time is of the essence.
Lastly, one question I forgot to ask -how long did you lease the car for? I had just assumed a 36 month lease.
Again, hope you are enjoying the car.
Best,
damon
EDIT: I just sent out an email for the RCL program, hopefully hear back tomorrow.
Also all of the premium convertibles available in CA, had some costly option with it (rear camera, pony package, anti-theft,etc) which was increasing the price. Also none were available in Candy Red/Kona Blue I wanted.
So actually I ordered my v6 car to be build and got this in 6 weeks.
This is a 36 month lease.
Also if you see previous posts, car_man also gave the same numbers for 10,500 mileage - 53% residual and 2.75% rate for Ford Motor Credit.
Anyway, Thanks for all the details.
I will definitely remember them for my next lease
-Vaibhave
Car_man
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I have not seen the US Bank lease program for this car recently.
Car_man
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