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Ford Explorer Lease Questions
239 messages, Last post on Apr 16, 2008 at 11:56 AM
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Hi! I have always bought and never leased, I am thinking of leasing a ford explorer eddie bauer or limited..... Please tell me the ins adn outs of leasing...someone! please...lol I have posted before with no response. I have a chevy blazer Id like to trade...2001, 80,000 miles, very good shape. I also wonder witha lease do you have to carry more insur? and what if you get dings dents etc, how are you liable??? do they take you for a killin on those types of things with a lease?? lol thank you so much. feel free to email me at shopchic956 |
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I am having the internet manager at my local Ford dealership work-up a lease payment for the following: 2006 Ford Explorer Eddie Bauer 4x2 MSRP: $32,775 X-Plan: $30,180 Incentive: -$2,000 Cap Cost: $28,180 What can I expect on either a 24 or 36 month lease with 15k miles? 0 Down (other than first months) Thanks, Stephen Atlanta, GA
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Replying to: cwakefield (Mar 09, 2006 5:30 am) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: shopchic956 (Mar 09, 2006 11:27 am) In your post that you mentioned you want to get $2,000 to $3,000 out of your Blazer for a down payment on your lease by trading it in. There's absolutely nothing wrong with trading in a vehicle when leasing, but make sure to have the dealer that you are working with cut you a check for your truck rather than using the proceeds rom it as a down payment on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Explorer would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. Ford is no longer leasing 2005 models. This is often the case late in the model year. The way leases work, vehicles' residuals gradually fall as the model year progresses. The lower a vehicle's residual value is, the more expensive it is to lease. The later in the model year it is, the more expensive it becomes for manufacturers to provide attractive lease payments on vehicles. So, at some point manufacturers stop leasing leftover vehicles and just provide cash incentives on them instead. If you want to lease, you will have to go with a 2006 model at this point. Let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: cwakefield (Mar 17, 2006 2:28 pm) I believe that Ford Credit charges a security deposit on most vehicles. The only way that I could see them waiving yours is if you are currently leasing a vehicle through Ford Credit. You would be much better off paying a security deposit than wasting your money on "Wear Care" protection. Doc fees vary from dealer to dealer. Some dealers do not charge any, while others have ones that are several hundred dollars. Dealers are definitely not required by law to charge this fee. What your salesperson might have meant is that if a dealer charges one person this fee, everyone has to pay it. If you don't want to pay it and the dealer won't waive it, just have them lower the price of your truck by the same amount. You can either have this fee added into your truck's capitalized cost or pay it at signing, just make sure that you don't somehow do both. Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: mtyler (Mar 23, 2006 9:41 pm) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: allnew3 (Apr 10, 2006 7:16 am) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: wregan (Apr 11, 2006 3:34 pm) Car_man Host Smart Shopper / Prices Paid Forums |
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Replying to: sstoyko (Apr 14, 2006 6:03 pm) Car_man Host Smart Shopper / Prices Paid Forums |
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Carman, I've read a lot of posts and it seems they all vary. So here's my deal. Please let me know if it sounds right. State NJ. 06 Explorer ED V8, Moonroof, 3rd row. 12K miles / 24 months lease MSRP - $36,025 Includes Dest charge. ($645) X-Plan $32,900 Incentives $2500 + $1000 match Residual .58 Total Out of Pocket $3,000 Payment $334. Buy at end for $21,000. Is residual based on MSRP or negotiated price? And is payment decent? Or am I being tricked.
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