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Prices Paid: Buying & Leasing Experiences Ford Escape Lease Questions
92 messages, Last post on Nov 27, 2009 at 5:40 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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$229 a month lease for 12,000 miles a year, 36 months, no money down for a basic XLS. Is this decent lease pricing or should I be able to get it down farther. It is some kind of sign and drive/red carpet event. I am new to leases. I appreciate the help! Thanks
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Replying to: haftown (Apr 09, 2008 9:21 pm) In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible and then have the dealer calculate your monthly payment using its base lease rate. Ford Credit's current base lease rate on the 2008 Edge is 3.25%. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Can anyone tell me the current lease rates and residuals for both the 2008 Escape XLT 4WD V6 and the 2008 Escape XLT Limited V6. I feel I am currently being jerked around my the dealership I am working with. Thanks!
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Replying to: jcbusby (Sep 29, 2008 5:07 pm) For the 36m lease the residual dropped to 48% and rate up to 4.25%. Auto co's have gotten killed on leases in the last 2 years so residuals are plunging and most co's very hesitant to price aggresively beyond 24 months. Not the best time to lease. I think the better deal is to get a big discount off msrp and then also try to get a low rate and finance over 5 years.
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Replying to: brinks2 (Sep 30, 2008 7:53 pm) (a) getting the "big" discount off MSRP (b) getting a "low" rate (c) getting your money back on your investment Car companies aren't giving away cars anymore. Times are tight. Interest rates on traditional loans have gone up just as much as lease rates. The thing you have to remember is when you buy a car in most states you have to pay sales tax on the sale price up front. So if you buy a car that is $20,000 and your tax rate is 7%, you now have to crap out $21,400. Then when you are sick of the car in 3 years, you have to trade it off to a dealer who doesn't want your car. They barely give you trade-in value which is way less than they end up selling it for later on. So in the long run you are probably out at least the $1,400 sales tax plus around $3,000 you got dinked on your trade-in value. If you think leases have gone up $4,400 on a 36 month term you aren't seeing things the way I do. You just have to be smart and recognize the better lease deals from the horrible ones. Still, leasing is normally way smarter financially than buying a brand new car.
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Replying to: indianajohns (Oct 01, 2008 9:22 pm) But, yes if you want a new car every 3 years then leasing is the way to go, but not in states that tax the full vehicle price.
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Replying to: brinks2 (Oct 02, 2008 6:12 am) Also you are correct about the purchase option at the end of the lease. If anyone ever does this they are mentally ill. Paying sales tax AGAIN on a vehicle that you have ALREADY BEEN PAYING sales tax on is absolutely ridiculous. It's what I like to call leasing double jeopardy. |
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Not much posted here lately, anyone have the current lease rates and residuals for XLT and Limited Escapes, V6, 12K miles, 24/36/39 months? Employee pricing has some nice deals, hopefully the lease prices are just as good!
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Replying to: denlem (Dec 03, 2008 3:59 pm) Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 Escape XLT 4WD with 12,000 miles per year are 4.5% and 51%, respectively. The numbers for an otherwise identical 39 month lease are 4.75% and 49%. The lease rates for the 2009 Escape Limited 4WD are the same, but its residual values are 52% and 50%. Ford is not currently providing support on 2-year leases. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Dec 18, 2008 4:11 am) Thanks for your help. Ralph L.
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