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Prices Paid: Buying & Leasing Experiences Ford Escape Lease Questions
94 messages, Last post on Dec 08, 2009 at 5:56 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: crg4 (Sep 01, 2005 9:03 am)  Re-examining my math, I see that my numbers are way too generous. Changing the residual to .55 and 4% interest rate, I came up with a bottom line monthly payment of $259.97 (taxes not included). Also, to clarify, the negotiated price of $18,685 includes the destination charge. Again, your thoughts are greatly appreciated! |
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Hi crg4. Ford actually reduced its customer cash on the 2005 Escape from $2,000 to $1,000 this morning. Don't worry though because when it did so, it introduced a $1,000 bonus for vehicles that are financed or leased through Ford Credit. Since you are leasing, effectively you will be eligible for the same $2,000 total cash allowance. Normally you would need to take this cash into account when negotiating your Escape's selling price, but since Ford is providing employee purchase prices on the 2005 Escape to everyone these cash incentives should be automatically deducted from your truck's capitalized cost. As far as the lease program that is available on this truck goes, the last time that I saw Ford Credit's lease rate and residual value for a 36 month, 15,000 miles per year lease of a 2005 Escape XLS 2WD they were 7.25% and 43%, respectively. Car_man Host Smart Shopper / Prices Paid Forums |
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I just saw Ford's lease deals for X-plan holders today on the 06 V6 Escape XLT with moonroof/Bose stereo. They list the deal as $250 per month with $999 down plus TTL. That sounded great, and might make leasing more interesting to me--I've never leased before, but it might work well for me as I really do not drive that much (8K a year) and don't want a high car payment. I would also like a newer car more frequently. So, I contacted my favourite sales rep at the local Ford dealer for details on this plan. She arrived at a final monthly payment of $294.34 in addition to the $1000 down. She claims this payment includes TTL on a vehicle whose MSRP is $24,600, X-Plan price or net capitalized cost is $23,192.96. She says the "total before discount" on which the residual is calculated is $25,185. The money factor (she called it the APR) is 1.25%. Is that good or bad, Car_man? I don't really understand why she's calling it the APR. I think the "total before discount" has to be wrong, as my calculations of the net cap cost put it at $21,192.96 which includes the $1000 "lease cash" Ford is offering and the required $1000 down payment. If so, that's over $4000 in TT&L, which doesn't seem right. It's my understanding that leasing a car was just like purchasing one in terms of how you negotiated the price. If that's the case, Ford is offering an additional $1500 in cash back to regular purchasers of the Escape. Could I expect to get the dealership to knock this money off the net capitalized cost, too? If I was just plain buying the truck, my price before TT&L would be $19,692.96. I'd like to negotiate a lease based on that price. Am I crazy to think that's possible? Thank you for your advice, Car_man. I don't know much about leasing but am trying to give myself a crash course. thanks, Charlotte
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Replying to: charlotte7 (Jan 05, 2006 8:41 pm) Ford Credit uses actual interest rates to calculate the interest portion of lease payments, instead of the money factors that most other banks use. This actually makes it easier to tell how good a rate you are getting. If you want to convert the 1.25% lease rate that you were quoted to lease this truck (which is very good BTW) into an approximate money factor equivalent, divide it by 2400. So a lease rate of 1.25% is equal to a money factor of around .00052. As far as the cash incentives that are available on leases of this truck go, the $1,500 customer cash that Ford is currently providing on the 2006 Escape is not compatible with leases through Ford Credit. As you mentioned, there is a $1,000 bonus for leasing this model through Ford Credit right now though. Also, Ford is running a special program on the '06 Escape that waives the first payment on any lease or finance contact through Ford Credit right now. Good luck and let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
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You should be able to lease an escape for Just under 300 a Month. If you hit them hard it may be less. I havee seen Explorer leases even cheaper but they guzzle gas
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Replying to: bpac (Jan 12, 2006 12:45 pm)
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I've just been offered 1750 down + 331.75/mo on a '06 Escape Limited + comfort + moonroof + safety for a 36 month / 12k lease. These are out of the door prices - they include a 6% tax. Seems good enough, I'm taking it. |
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Replying to: rws0131 (Jan 12, 2006 5:20 pm) Car_man Host Smart Shopper / Prices Paid Forums
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I have a trade in that will leave me with $3000 extra and this car has a $1500 incentive deal for a lease (so the dealer told me). That would make $4500 toward the lease price. The MSRP is 29,850 but I got them down to $28,000. They are offering me a lease with all fees and taxes included for $285/month for 36 months w/12k miles a year with a buy-out of 15,000. I only have to pay to transfer the plates and registration out of pocket. Is this a good deal? Please help I am located in NYC tax is 8.25 Thank You! -Stacy
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Replying to: sargondizzo (Feb 09, 2006 5:12 am) Let's work up a sample lease payment on the car that you are interested in using Ford's current lease program and see what we come up with. According to my calculations, if you were to lease a 2006 Ford Escape Limited 4WD with an MSRP of $29,850 and a selling price of $26,500 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $349. A $3,000 down payment would drop this monthly payment to around $263, but again you are better off not putting any money down. Car_man Host Smart Shopper / Prices Paid Forums
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