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Ford Explorer Lease Questions

605 messages,  Last post on May 23, 2013 at 9:41 AM

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

    

Messages Page 22 of 62

#202 of 605 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.

#203 of 605 Explorer money factors and residuals by 4jeeps

Mar 14, 2007 (2:10 pm)

I am considering an Explorer XLT 4x4 and was wondering if anyone was aware of the current money factors and residual values. I would be looking for 12K miles/year if it makes a difference.
 
Thank you for any assistance.

#204 of 605 2007 EXPLORER LEASE by jennian

Apr 04, 2007 (11:11 am)

does anyone have the money factor, residual and
incentive info?
thanks

#205 of 605 2007 EB Explorer Lease question by kalik

Apr 19, 2007 (5:07 pm)

I need help in determining why such a price difference and how to calculate it. I currently lease a 2004 XLT - $336 for39mos 2,000 down 5,750 in rebates . Selling price 32,362 (Cap cost 27,403.22) 47% total residual (45+2) money factor 3.25% 12k miles a year .
 
I was looking into leasing the EB for the same selling price and have been working on quotes. For the same priced vehicle (Less options,looks a little nicer), and the same lease term 39mos 12k miles 2.25% financing , 5000 in rebates, with 2,500 down I am quoted around 375 a month . I am being told its all due to residual value difference. Is this true, is the residual value of the EB the same at all dealers for this vehicle lease? Is 375 reasonable , I cant see paying more for the same priced vehicle .
 
Thanks

#206 of 605 Re: Explorer money factors and residuals [4jeeps] by Car_man HOST

May 07, 2007 (3:26 am)

Replying to: 4jeeps (Mar 14, 2007 2:10 pm)
Hi 4jeeps. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Ford Explorer XLT 4WD with 12,000 miles per year are 4.0% and 43%, respectively in most areas. This truck's lease program is slightly better in certain regions. If you tell me what state you are in I can tell you if you are in an area that has an enhanced lease program for this model. As you can see, Ford publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your capitalized cost for this truck, make sure to take the lease cash that is currently available on it into account.
 
Car_man
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#207 of 605 Re: 2007 EXPLORER LEASE [jennian] by Car_man HOST

May 07, 2007 (3:28 am)

Replying to: jennian (Apr 04, 2007 11:11 am)
Hi jennian. The Ford Explorer's lease program varies by trim level, region, term, and mileage allowance. I would be happy to give you an idea of what the lease program for the truck that you are interested in is like right now, but in order for me to do so I need you to tell me exactly what Explorer you want, i.e. an XLT 2WD, an Eddie Bauer 4WD, etc..., what state you are in, how long you want to lease it for, and how many miles per year you need to be able to drive it. Let me know and I'll tell you what the latest lease program is like.
 
Car_man
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#208 of 605 Re: 2007 EB Explorer Lease question [kalik] by Car_man HOST

May 07, 2007 (3:30 am)

Replying to: kalik (Apr 19, 2007 5:07 pm)
Hi kalik. I don't remember what the lease program was like for the Explorer back in 2004, but it is very possible that its residual values are worse today than they were back then. I would be happy to give you my opinion of the deal that you were quoted, but it would be a big help if you provided me with this truck's full MSRP and selling price first. These numbers will show me how much of a discount you are being given.
 
Car_man
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#209 of 605 Re: 2007 EB Explorer Lease question [Car_man] by luckycait

May 09, 2007 (4:57 pm)

Replying to: Car_man (May 07, 2007 3:30 am)
Hi Carman
I'm wondering if anyone could help me out!
We are getting a deal and I'm wondering if it's very good?
Explorer XLT
Leather package
Convience Package
3rd seat
Climate package
Running Boards
6 disk changer
MSRP $31,120
We have the Ford X Plan so that make s the price $29,957
We have an '04 Toyota Solara SE Sport that blue books at $12300 but he only wants to give us $11K and we owe $20K
so there is another $9K tacked on
there is $4K in rebates
36 mos
12K/year
Acq. Fee $595 Dock Fee $45
Tax is 7.25%
and he has us at 2.25%
 
He has our payment at $662.53 AND $2000 down.
I plugged this into a lease calculator but I came up with alot less. Can you tell me if I'm getting taken?

#211 of 605 Re: 2007 EB Explorer Lease question [luckycait] by Car_man HOST

Jun 08, 2007 (2:19 am)

Replying to: luckycait (May 09, 2007 4:57 pm)
Hi luckycait. You are currently $9,000 upside down on your Solara. Ouch . Unless you really need to get an SUV for some reason, like your family is expanding it would really ne in your best interest to wait until you are less upside down on your car to get something new. If you really have to get a new vehicle now, the Explorer is a good one to go with because you will be able to get a pretty big discount on it that will absorb most of your negative equity. The fact that you will be able to lease this truck through the X-Plan is great. It means that you will be able to get an excellent deal on it without having to haggle.
 
Let's work up a lease payment on this truck and see what we come up with. According to my calculations, if you were to lease a 2007 Ford Explorer XLT 4WD that has an MSRP of $31,120 and a capitalized cost of $32,957 ($29,957 selling price - $4,000 lease cash - $2,000 cap cost reduction + $9,000 negative equity) through Ford Credit right now for 36 months with 12,000 miles per year, your $2,000 down, pre-tax monthly payment would be around $571. As you can see, there seems to be something wrong with the monthly payment that you were quoted. There's no way that sales tax adds $100 per month to your payment. If I was in your situation I would comparison shop with another dealer or two.
 
Car_man
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Messages Page 22 of 62

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