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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
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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Replying to: wvgasguy (Dec 10, 2007 6:37 am)
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Replying to: davidr719 (Dec 10, 2007 4:13 pm) |
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Hi - i'm ready to lease a 2008 Eddie Bauer Expedition. Any idea what Ford Credit's current money factor is? How about the residual on the 2008? (x% of MSRP). assume 36 month lease. With options, the vehicle I'm looking at is about a $44000 (including destination). I'm just checking edmunds now, but invoice looks to be $39500.
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Replying to: freddy533 (Dec 15, 2007 8:17 pm) |
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Replying to: rob052067 (Nov 16, 2007 2:37 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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