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Ford Explorer Lease Questions

599 messages,  Last post on May 08, 2013 at 7:57 AM

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

    

Messages Page 21 of 61

#193 of 599 lease end purchase question by fetch

Dec 30, 2006 (2:07 pm)

Hello all. This is my first question. I am currently leasing a 2004 Ford Explorer Limited AWD V8. I started the lease in October of 2004. The lease is 48 months with 10,500 each year. My monthly lease payment is $512. I am planning on keeping the vehicle for four more years so I am thinking about buying out my lease and re financing with a very low rate through a credit union. Do you think this is a good idea? Will I have to pay sales tax on the financing for the purchase even though I already paid sales tax when I leased it? Thanks for the help.

#194 of 599 Re: 2007 Ford Explorer Lease Offer... [pulleydog] by Car_man HOST

Jan 11, 2007 (3:48 am)

Replying to: pulleydog (Dec 05, 2006 4:29 pm)
You're welcome, pulleydog. Let me know if you have any questions when your truck arrives.
 
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#195 of 599 Re: 2007 V6 EB 2x4 lease [gadawg2] by Car_man HOST

Jan 11, 2007 (3:52 am)

Replying to: gadawg2 (Dec 07, 2006 10:53 am)
Hi gadawg2. The truck that you described probably has a spread of around $1,700 to $1,800 between its full MSRP and its dealer invoice price. You were quoted a discount of $860 on it. I personally would want a larger discount than this. If I was in the market for an Explorer I would shoot for around $500 over invoice minus the $2,500 lease cash that is currently available on it in your area. Shop around and see if you can beat this deal.
 
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#196 of 599 Re: Where to find the current residual value 07 XLT Explorer [scottduffie] by Car_man HOST

Jan 11, 2007 (3:57 am)

Replying to: scottduffie (Dec 12, 2006 7:59 pm)
I can give you an idea of what this truck's current lease program is like, scottduffie. Its current program varies by region. For consumers who are outside of the New York and Detroit areas, Ford Credit's current base lease rate and residual value for a 24 month lease of a 2007 Ford Explorer XLT 4WD with 15,000 miles per year are 5.0% and 45%, respectively. This truck's 12,000 mile per year residual value would be 2% higher. 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. So a lease rate of 5.0% would be equivalent to an interest rate of around .00208.
 
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#197 of 599 Re: lease end purchase question [fetch] by Car_man HOST

Jan 11, 2007 (4:02 am)

Replying to: fetch (Dec 30, 2006 2:07 pm)
Welcome fetch. If I was in your situation, I personally would wait until I was at the scheduled end of my lease to decide if I wanted to keep this truck. One main advantage to doing so is if it starts giving you mechanical trouble, you can just walk away from it at the end of your deal. Furthermore, if you are in an accident in your truck you can just walk away from it at lease-end and let Ford Credit take the diminished value hit that vehicles that have had collision repairs experience. Unless you are paying an outrageously high interest rate on your lease, which is highly unlikely given the level of lease support that Ford usually provides on Explorers, you probably won't save much by buying your leased vehicle and financing it through your credit union. I am not absolutely positive, but I believe that you probably would have to pay sales tax on your truck if you were to purchase it at this point.
 
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#198 of 599 2007 Ford Explorer XLT Ironman Package lease info? by vballny23

Feb 16, 2007 (7:19 am)

I am looking into leasing a 2007 Ford Explorer XLT 4X4 with Ironman Package and optional 3rd row for 39 months, 12K miles/yr. Can you let me know the rent charge and residual for this vehicle?
 
The MSRP on the car is $30,660 and I am working off a price $500 over invoice $29,288. Then, taking off the $3500 lease cash, negotiated cost would be $25,788.

#199 of 599 07 EB vs 07 Limited Lease by creekchubs

Feb 21, 2007 (9:44 am)

I have two offers on the table for a 36 month lease with 15k miles per year. Both deals my trade is my down payment equalling $5000. Current rebate is $3500 on the Explorers.
Both deals offer zero out of pocket at start.
The Limited:
MSRP 36155
Xplan pricing 34323.9
total selling price 25823.9
End Value 16769.75
monthly payment 371.76
 
The Eddie Bauer:
MSRP 35515
xplan 33566.94
total selling price 25066.94
End Value 16836.9
monthly payment 346.01
 
I like the limited because it has the black seats but the EB seems to be a better deal. What is the better offer? Please advise.

#200 of 599 Re: 2007 Ford Explorer XLT Ironman Package lease info? [vballny23] by Car_man HOST

Feb 27, 2007 (5:33 am)

Replying to: vballny23 (Feb 16, 2007 7:19 am)
Greetings vballny23. Ford's current lease program for the 2007 Explorer varies by region. Looking at your user id, I suspect that you are in New York. I will provide you with the lease program for that area. Let me know if this is not where you live. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Ford Explorer XLT 4WD with 12,000 miles per year are 2.75% and 45%, respectively. $500 over dealer invoice minus any available lease cash is a good price for this truck.
 
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#201 of 599 Re: 07 EB vs 07 Limited Lease [creekchubs] by Car_man HOST

Feb 27, 2007 (5:37 am)

Replying to: creekchubs (Feb 21, 2007 9:44 am)
Hi creekchubs. I see that you are trading in your current vehicle and leasing a new one. There's nothing wrong with trading in your current car or truck when you lease a new one, but it would be in your best interest to have the dealer that you are working with cut you a check for any equity that you have in your vehicle rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments on leases. Those who do run the risk of losing their down payment if their vehicle is totaled in an accident or stolen and never recovered.
 
The fact that you are able to get your truck through Ford's X-Plan ensures that you will get it for a good price.
 
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#202 of 599 Lease Extension Possible? by scoutlab1

Mar 12, 2007 (3:49 pm)

I have a 3 year lease on a 2004 Explorer Limited that expires in April. The purchase price option is thousands more than its fair market value, so I do not want to buy it at that price. I am told that I cannot buy it for anything less than the purchase option. Is this true? I also thought about extending the lease for a year or two (at a reduced monthly payment given that the vehicle is 3 years old) but have been told that Ford does not do this. Is this true? Any insight would be much appreciated. Thanks very much.

Messages Page 21 of 61

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