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Prices Paid: Buying & Leasing Experiences Ford Expedition Lease Questions
120 messages, Last post on Dec 02, 2008 at 6:03 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: rob052067 (Sep 13, 2007 9:17 am) I believe that 10,500 miles per year is Ford Credit's lowest mileage option. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: macsnjets (Sep 16, 2007 7:27 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: gonecruzan (Sep 21, 2007 4:23 am) In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking. As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". If you believe that your Explorer is worth significantly more than it would cost you to purchase it, then you might want to consider trying to profit from its low mileage. If not, then just walk away at the end of your lease. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: dylcon (Oct 13, 2007 5:38 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: Car_man (Nov 08, 2007 2:07 am)
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I'm interested in an Expedition EL. I am considering lease vs. purchase. I've looked at a 2007 Expedition EL demonstrator. It has 10,500 miles. The invoice is $43,500 or thereabouts. The purchase price is $41,500 or thereabouts. We have a 2004 Excursion (clean) with 87,000 miles. The dealer only wants to allow me $10,500 on a trade-in. I understand the 66 months, 0% financing on a purchase, however, don't fully understand the intricacies of a Red Carpet Lease as to the residual and the like. Please advise.
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Replying to: hoss5 (Nov 21, 2007 7:23 pm) I found the leases complicated but had 2 dealers explain it because it seemed too good to be true. Was better off with an 08 rather than an 07. The fact that this is an 07 with miles may hurt you in trying to lease it. The advantage I had with the lease is that you still get the rebates but the lease financing was only 0.5% on my loan. With a 2 year residual of 52%, that means I'm basically financing half of the vehicle close to 0% anyway. Comparing the lease to a loan from my Credit union, I actually can lease and then buy a lot cheaper than just buying. 0% is a good thing but don't try to fool yourself if you know you're going to trade in a few years. In two years your 07 will be 3 years old and worth about 45% of MSRP. If you don't believe that how about the $10.5 they are offering you now? Also with 87K miles on an 04, I'm guessing you drive a lot and that could be pretty expensive on a lease. I have the max at 19,500 miles per year and anything over that is 20 cents a mile (unless I buy it) |
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Hi, I am in the process of trading in my 2006 Eddie Bauer Explorer that is coming off lease and looking to take advantage of the program they have in place to keep you in one for 2008. My question is the vehicle I am looking at has an MSRP of $33,940. my question is can you further negotiate the price because I am already getting $2,500 + $1,000 as listed on ford's website. I believe I also get an additonal $1,000 loyalty cash back if i get back into another explorer. That means I am already getting $4500 off the MSRP. I know I am supposed to negotiate from the Invoice - holdback up...but are they going to give me a song and dance that i am already getting so much off? But so, far, the rebates are only from the manufacturer, not the dealer so is there room to move? The monthly lease payment is looking to be $430 for me. I am doing 39mths at 18k per year with first month + tag fees for a total of $520 out the door. I am in Phila, PA. I would really like to see if I can get more off from their end because so far, the dealer hasn't discoutned anythign or is tht considered when the manufacturer builds in those rebates. If i can negotiate, what is reasonable? Thanks |
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Replying to: davidr719 (Dec 09, 2007 4:12 pm)
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