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Ford Escape Lease Questions

91 messages,  Last post on Aug 20, 2009 at 2:31 AM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

What is this discussion about? Ford Escape, Car Leasing, SUV


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#83 of 91
Escape Lease numbers by totty
May 06, 2009 (9:41 am)
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Can anyone provide me with New Jersey lease data (residual, MF, lease cost, acquisiton fee) on an 09 Escape XLS FWD? Also, do Ford leases include GAP insurance? Is there a damage waiver? Thanks very much.
#84 of 91
Re: Escape Lease numbers [totty] by Car_man HOST
May 15, 2009 (3:02 am)
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Replying to: totty (May 06, 2009 9:41 am)

Hi totty. Unfortunately, Ford has cut way back on its lease support over the past year. It is no only providing lease support on a small number of vehicles and the Escape is not one of them. As a result, it would be very expensive to lease an Escape through Ford Credit right now.
 
If you really want to get an Escape XLE, you would be better off financing it through Ford Credit at 0% for up to 5 years or 1.9% for 6 years. You could also pay cash for this truck or finance it through an independent bank and take advantage of the $2,500 cash incentive that is currently available on it.
 
Car_man
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#85 of 91
Any Lease Changes Rumored for June by mlt245
May 24, 2009 (6:30 am)
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My current Mercury Mariner lease is in it's last 2 months. I had assumed I would just lease a new Escape/Mariner for a similar price, needless to say I was shocked when told how high the lease costs are right now. Are there any rumors that there will be more attractive lease deals on either of these cars over the next 2 months. Are there differences depending on state (New York, New Jersey, Pennsylvania)
#86 of 91
Re: Any Lease Changes Rumored for June [mlt245] by Car_man HOST
Jun 05, 2009 (3:13 am)
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Replying to: mlt245 (May 24, 2009 6:30 am)

Hi mlt245. Unfortunately, the attractive leases that were available several years ago in many cases are no longer available today. General Motors and Chrysler have completely stopped leasing and Ford has cut way back.
 
Ford is not currently providing any lease support on the 2009 Escape. If you really want one, you would be better off financing it through Ford Credit at 0% for 5 years.
 
Car_man
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#87 of 91
Now Leasing - nationwide? by neneeman
Jul 12, 2009 (9:58 pm)
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Hi Car_man,
 
I'm in California but I recently visited NY, where I saw Ford Escape Lease Deals advertised. Is Ford now leasing the Escape - and in California? And, if so, what is the going lease data? Thanks
#88 of 91
Re: Now Leasing - nationwide? [neneeman] by Car_man HOST
Jul 16, 2009 (1:47 am)
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Replying to: neneeman (Jul 12, 2009 9:58 pm)

Hi neneeman. Ford still is not leasing Escapes through Ford Credit. The advertisement that you saw must have been a dealer-specific ad containing information on a lease being run through an independent bank.
 
Car_man
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#89 of 91
Re: Now Leasing - nationwide? [Car_man] by neneeman
Jul 19, 2009 (9:16 am)
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Replying to: Car_man (Jul 16, 2009 1:47 am)

Hi Car_man. Thanks. I was able to get a local dealer to offer me a lease through an independent bank with a cap cost below invoice. But, it came with a money factor of .00324 and residual of .42 for a 3yr - 12,000 miles - XLT. This seemed ridiculous. Is the dealer just baking profit into those numbers? Or, do you think that it is likely these are credible figures? I'm wondering if I can try to find a different bank (my credit score is 790), and if so, how do I do that? Thank you!
#90 of 91
Re: Now Leasing - nationwide? [neneeman] by kyfdx HOST
Jul 20, 2009 (6:10 am)
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Replying to: neneeman (Jul 19, 2009 9:16 am)

You can try leasecompare.com... though, I doubt their banks have any numbers better than that.. Dealers have the same access to independent banks that they do.
 
When you lease through an independent bank, the only incentives have to come through the manufacturer, in the form of rebates or cap cost reductions.. The independent bank can only make money on the financing, itself.. and, they have the additional risk of the vehicle not being worth the residual.
 
I'd guess 42% is fairly generous for the real-world resale value of an Escape after 36 months.. and, 7.8% sounds about right for an interest rate, with nothing down and the residual risk involved.
 
regards,
kyfdx
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#91 of 91
Re: Now Leasing - nationwide? [neneeman] by Car_man HOST
Aug 20, 2009 (2:31 am)
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Replying to: neneeman (Jul 19, 2009 9:16 am)

Hi neneeman. A lease rate of .00324 is high compared to the special lease rates that Ford Credit is offering on a number of other Ford division vehicles, however it is equivalent to an interest rate of around only 7.8%. That's about what I would expect the rate to be on an unsupported lease right now. I don't think that the 42% residual value is that unrealistic either.
 
These numbers aren't all that out of whack, it just really doesn't pay to lease unsupported vehicles in most instances. If I was interested in getting a 2009 Ford Escape, I would much rather finance it through Ford Credit at 0% for 60 months than lease it.
 
Car_man
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