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Ford Explorer Lease Questions

610 messages,  Last post on Jun 07, 2013 at 8:27 AM

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

    

Messages Page 19 of 62

#178 of 610 Re: Residual & Money factor on 06 Limited for zip code 60543 [chitown03] by Car_man HOST

Nov 01, 2006 (4:07 am)

Replying to: chitown03 (Sep 08, 2006 9:02 am)
Hi chitown03. I believe that Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Explorer Limited 4WD with 12,000 miles per year are 4.5% and 49%, respectively in the Chicago area. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease on this truck, make sure to take the $1,000 lease cash that Ford is currently providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.
 
Car_man
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#179 of 610 Re: Good Deal?? [rayna] by Car_man HOST

Nov 01, 2006 (4:08 am)

Replying to: rayna (Oct 13, 2006 12:43 pm)
Hi rayna. You never mentioned the selling price or MSRP of the Explorer that you leased. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you got on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
 
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#180 of 610 Re: hi car man was this a bad deal? [silturbor] by Car_man HOST

Nov 01, 2006 (4:11 am)

Replying to: silturbor (Oct 20, 2006 6:13 pm)
Hi silturbor. You never mentioned the selling price or MSRP of the Explorer that you leased. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you got on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
 
Car_man
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#181 of 610 Re: hi car man was this a bad deal? [Car_man] by silturbor

Nov 01, 2006 (2:05 pm)

Replying to: Car_man (Nov 01, 2006 4:11 am)
sorry car_man
the total MSRP was 35,385 (included the destination charge of 645.00
 
according to my agreement the gross captalized cost is 33,345 with the agreed upon value of the car of 32,750. the captialized cost reduction is -5,510.90 which equals the adjusted captialized cost of 27834.10
 
then minus the residual vallue of 20169.45 equals to the depreciation and any amortized amounts of 7664.65 plus rent charge of 1691.27 equals total of base monthly bse payments of 9355.92
 
according to itemization of amount due at lease signing or delivery, a.)net trade in=0 b.)rebates and noncash credits 4,500 dollars c.)amount to be paid in cash = 2,900(my down payment)total of 7400.00
 
on the right hand side that says amounts due at lease signing or delivery
a.)captialized cost reduction=5,510.90
b.)first monthly payment=389.83
c.)refundable security deposit=0.00
d.)title fees=45.00
e.)registration fee=159.50
f.)tax on cap red=475.32
g.)upfront taxes=806.95
h.)waste tire fee=12.50
TOTAL 7400.00
 
1.)amount due at lease signing or delivery=7400
 
4.)total of payments=16366.09
 
please help car_man
 
and what is captialized cost reduction............
 
and how come since the 7400 included my first monthly payment they area still asking for 24 more monthly payments, shouldn't it be 23????

#182 of 610 Re: hi car man was this a bad deal? [silturbor] by Car_man HOST

Nov 05, 2006 (12:29 pm)

Replying to: silturbor (Nov 01, 2006 2:05 pm)
No problem, silturbor. If you leased this truck for 24 months and paid the first month's payment at signing like you were probably required to then yes you should only have to make 23 more payments.
 
Let's take a look at the price that you paid for this truck. According to your posts, you paid $32,750 for a 2006 Ford Explorer Eddie Bauer V6 4WD that had an MSRP of $35,385. I don't know the exact dealer invoice price of the truck that you got, but it looks like you probably paid only $500 to $750 over invoice, which isn't bad. Then your capitalized cost reduction was subtracted from this price. The cap cost reduction is composed of any down payment that you choose to make and any cash incentives that you are entitled to. The cap cost reduction lowers the amount that you are financing, which in turn lowers your vehicle's monthly payment. Overall I would say that you got a fair deal on this truck. Enjoy .
 
Car_man
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#183 of 610 ford lease maintanence agreement by rfog

Nov 25, 2006 (4:23 pm)

I recently leased a ford explorer for 24 mo. 33000 mi. and the dealer suggested a maintanence agreement for 995.00 It covers regular service 5000 miles and then the 10,00 mi checkup and the 30000 mi service. Is this a good idea or a scam?

#184 of 610 How does this lease sound? by explrltd

Nov 29, 2006 (5:19 am)

2007 Ford Explorer Limited. Total MSRP 40,825.00. 24 months, 12K/year -selling price 38,800.00, rebate 3,500.00 (2,500.00 ford and 1,000.00 customer return) aqu fee 595.00 reg fee 255.00 cap cost 35324.00
upfront fees 2,560.12 (my out of pocket) payment 509.34
Does this sound good?

#185 of 610 2007 Ford Explorer Lease Offer... by pulleydog

Dec 02, 2006 (5:42 pm)

Hi CarMan - Let me know what you think of this...
 
2007 Ford Explorer Eddie Bauer
MSRP: $36045
Selling Price: $34000
Taxes & Fees: $595
SubTotal: $34595
Current Red Carpet Lease Rebate: $2500
Total: $32095
15K miles per year / 39 month Lease
Leasing Finance Rate = 3%
Taxes & Fees Paid at Inception: $270
Monthly Payment Breakdown -
Base Payment: $467.10
Local Excise Tax: $36.56
Sales/Use Tax: $25.18
Total Monthly Payment: $528.84 for 39 months.
Buyout after Leasing Period: $16220.25
 
1st Payment consists of the $270 Taxes/Fees and 1st Monthly Payment of $528.84 for a total of $798.84
 
Let me know if I forgot anything. Thanks for helping all of us "Leasing Challenged"!

#186 of 610 Re: ford lease maintanence agreement [rfog] by Car_man HOST

Dec 04, 2006 (3:50 am)

Replying to: rfog (Nov 25, 2006 4:23 pm)
Hi rfog. I personally would never purchase pre-paid maintenance on a leased vehicle, unless it provided some sort of boost in my vehicle's residual value like some luxury manufacturers offer. All you really will have to do in terms of maintenance for your Explorer is change the oil every couple thousand miles and rotate the tires. That's it. Performing any additional maintenance on a leased vehicle is a waste of money. You probably should skip the contract.
 
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Messages Page 19 of 62

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