Last post on Feb 07, 2013 at 6:10 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Ford Explorer, SUV
#206 of 255 2008 Ford Explorer Eddie Bauer 4X4 V6
Jul 07, 2008 (4:48 pm)
First, many thanks to car_man for such great information. I have been lurking these forums for several months now so I could understand money factors, residuals, and leasing in general. I am completely new to the entire leasing process.
In Sunday's newspaper, I saw an ad for a 2008 V6 XLT, Keyless Entry, Pwr. Wind/Locks. Was $26,915, Now $15,995. Zero Down, 24 Mo. Lease, 10,500 mi/year, No Plan Needed, Save $10,920 Off MSRP, a $500 Gas Card, $0 Security, for $229/month. I decided this sounded way too good to be true. We've all seen the ridiculously low lease ads only to read in the small print the thousands down required...
So, I contacted them and to my amazement, they stood behind their advertisement and offered me one of the vehicles. I asked if the same "deal" applied to higher end models and they indicated the would use the same discounting process.
I asked about Ford's money factors and residuals for a 2008 Ford Explorer Eddie Bauer 4X4. Ford's money factor was 0.25% (no, that is not a misprint) for 24 month leases, and 2.5% for 36 month leases. Residuals for 24 month leases were 51% for 10,500 mi/yr; 50% for 12,000 mi/yr; and 48% for 15,000 mi/yr. Residuals for 36 month leases were 44% for 10,500 mi/yr; 43% for 12,000 mi/yr; and 41% for 15,000 mi/yr.
Now in addition to these great lease rates, Ford is offering rebates of $5,750 for leases on Explorers.
This particular dealer was looking to rid itself of the 2008 inventory, so they honored their "No Plan Needed" and offered me A-Plan pricing -- roughly 4% under invoice.
Combining everything together, I just leased a 2008 Ford Explorer Eddie Bauer 4X4 V6 that listed for $33,365; purchase price of $30,080; rebates of $5,750; for 24 months; 10,500 miles for $310 + tax with no money down. I even got the $500 gas card.
The only thing I did not qualify for was the Ford renewal rebate of $2500 since I did not already lease a Ford vehicle. I'm still in shock I just leased my first vehicle for less than I had been quoted on a Ford Fusion.
Finally, the dealer indicated Ford Credit would be lowering its residual values tomorrow as they are reviewed quarterly, but had been extended through today. I do not know how long the 0.25% lease rate will be in effect, and the rebates allegedly end today also.
Thanks again car_man! I think you helped me get a great deal.
#207 of 255 2008 XLT purchase
Jul 19, 2008 (1:33 pm)
Just bought a 2008 XLT for invoice minus $6000 ($3000 loyalty, $2500 incentive, $500 for Ford financing) plus dealer handling fee of $499. The selling dealer had to pay invoice to get the vehicle from another dealer some distance away; otherwise, I could have bargained for an even lower price. We were very satisfied with our '99 XLT; this new XLT is a whole different animal in that it handles so much better, quieter, better comfort, etc. Great deals available right now, but the inventory is getting thin. Mostly the vehicles loaded with long lists of options, which you may not desire, are still on the lot.
Aug 11, 2008 (3:26 pm)
I have an opportunity to buy a loaded 08 Eddie BAuer with 1900 miles for $19,500. Anyone know what auction prices are for these? Thanks!
Aug 20, 2008 (3:17 pm)
A reporter with a large newswire would like to speak with consumers who purchased a truck or SUV in the past couple of months and received a good deal as demand was low because of gas prices. If you just purchased a truck or SUV recently, please respond to ctalatiedmunds.com with your daytime contact information no later than Monday, August 25th.
Aug 22, 2008 (5:39 am)
I love my 1995 Explorer and I'm ready to upgrade to a new one. But, I'm having difficulty finding one. You see, I have never had a desire and/or need for a third row seat. Unfortunately, ever Ford dealer I visit tells me that I would be hard pressed to find an Explorer on a lot without a third row seat, and that I'd have to order one without the seat. I've visited Ford's website and built my new Explorer and have searched dealer inventories online for just the vehicle I want, but none are available without a third row seat. I love the space of the Explorer, but can't see toting around the excess weight of the third row seat. Being the end of the model year, that puts me out of luck at finding a great deal on a leftover '08. So my question is, when are the '09's going to be available? Anyone have any insight into timing for an '09?
#213 of 255 2001 Explorer - Used - Win Win!! Thanks Edmunds
Oct 25, 2008 (12:20 am)
Ok, first time poster... long time reader of Edmunds.com
This is a tale of me having my way with a dealership.
I have (had) a 1998 Chevy Blazer. Replaced 3 water pumps, one alternator, one radiator, one fuel pump, 4 shocks and a butt-load of tires.
The Blazer also had the following issues:
-Needed a tune-up
-Front alignment (Car shakes from 60-70mph)
-Needed 2 new front tires
-Needed Front breaks
-Heat and air did not work
-Had electrical issues - incessant clicking (from what sounded like the turn signal)
-The fuel gage never read true and would click to E at anytime.
-Transmission just recently started acting funny.
-Had an oil leak, radiator leak, and a leak from the back hatch window.
-Passengers door wouldn't open with keyless entry
-And the inside would smell like exhaust or gas from time to time.
-Last but not least: The interior sucked... (2 kids and me not being anal about the inside)
-Exterior: Lots of small dents and scratches. (Ala kids)
Pro's: The 4wdr worked, and the engine was strong.
I was going to have to pay at least $650.00 to 1.5k$ to get the car back into shape
I wasn't looking forward to winter with at very least no heat.
I explained the situation to the wife. Then said We should look for something newer
and less miles and trade the Blazer in.
I started looking on the Internet and I found an explorer in an adjacent city, with 80k miles and 2001. I called to see if they still had it. (9 times out of 10 they don't but... they surely have something else they can get you into... blah blah)
In this case they had it. I told them I'd be down at about 5pm. I waited until dark to go. I wanted to camouflage my car a bit more. =)
They wanted $4,995 for the Explorer XLT. I hopped on Edmunds.com and checked the price. It was listed at $5,250. While my Blazer was listed at $1,200.
I had read the buying guides on this site and I tested them a few times on other perspective cars. I've never felt so vulnerable as when in a 'car buying' situation.
My wife's job on this mark was to be disapproving and agitated.
We test drove it. It seemed solid. With one exception, a rhythmic 'whirring' sound. Could have been from the 4wdr gear box or a bearing issue... OR Completely normal to the car. (Time will tell)
I came in and let him know I wanted to chat about the vehicle. After some time he got back to us... We remained active, getting up and wandering around when he left, etc...
We started talking money. I told him of the sound I'd heard and expressed it could be a future issue. He didn't argue with me. I asked if he'd mind if I had my mechanic look at it, etc... Then we got down to the trade-in part. He asked me what I had and I gave him the keys and he wandered out to see. We did not follow. Here is the critical portion. This was in a smaller city and he had no other staff on-hand as it was late (For them, they closed at 8pm) He came back in, made a call, chatted with the other end then came over and wrote down what he was willing to offer. The offer was $2,000. Knowing what I knew about the blazer and it's worth, I nearly swallowed my teeth. I hymned and hawed about the $2,000, but ultimately let it go as I was not going to let that be a deal breaker in any situation but I didn't want to appear too eager to jump at the offer.
I then haggled him down on the $4,995. I finally got him down to $4,150. With all told, I only owed him $2450.67, which I was more than happy to pay.
A was a bit chagrined to take the title for the blazer and cash for the Exploder back to him the next day, but hey... deals a deal. They did make a jab at me for the beat up license plates from the Blazer - alluding to the condition of the car, but never came right out saying it. However in my defense, I did disclose everything he had asked for initially.
I took the Exp out on a 370 round trip exercise. Performed wonderfully and I got 23mpg. Win win. I left there giggling to my wife. She just shook her head. She however was just as glad to be out of the Blazer.
While I could afford a better car, I wanted to have this for a work car. Money concerns are huge on 95% of American's these days, and I believe that this site helped me walk out of there having saved $1k at very least. This was an awesome experience. However, I don't think I could make as one sided a victory as this again.
#214 of 255 08 Limited Good Deal?
Mar 09, 2009 (8:54 am)
I saw a 08 limited leftover with most options expet remote start and dvd. Sticker was $41k
I know they are asking 36k+ and there is 1000 rebate plus 0% for 60 months (which I need) but what do you think is a good price for this truck?
I was thinking 30k OTD since I will have to pay to add the DVD and remote start. Thinking that will cost me about $2k
#215 of 255 Any 2008 Explorer leftovers out there?
Jun 10, 2009 (6:15 pm)
Anyone know of any 2008 Ford Explorers still on a lot in the NJ/PA,NY, CT area; Ford has deep incentives on these if they can be found. By the way...I need 4WD or AWD & 3rd Row? Will also consider used if mint and low, low milage....Thanks