Last post on May 23, 2013 at 9:41 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Ford Explorer, Car Leasing, SUV
#211 of 605 Re: 2007 EB Explorer Lease question [luckycait]
by Car_man HOST
Jun 08, 2007 (2:19 am)
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.
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#212 of 605 Want to buy explorer at end of lease, help
Jun 22, 2007 (6:35 am)
We have the 2004 explorer xlt the purchase options at end of lease term is $16628.05---is this price negotiable? unfortunately my husband thinks he understands car buying but he doesn't. I love my explorer and would really like to keep it and we just put new tires on it thinking we were going to keep it. any tips would be greatly appreciated! oh our miles are low (37100) and there are some minor wear and tear to it.
options (i am sure there are more, but these are the ones that i can think of off hand)
third row seat
power drivers seat
#215 of 605 Re: Want to buy explorer at end of lease, help [memonster]
by Car_man HOST
Jul 18, 2007 (3:30 am)
Hi aimee. Some banks will occasionally negotiate the end of term purchase prices of leased vehicles and others will not. I am not personally all that familiar with Ford Credit's policy on this matter, but give it a shot. You certainly don't have anything to lose by asking for a lower price. I have found that if your initial contact at the bank is unwilling to negotiate that one can often get a manager who is above them to do so. If you do try to negotiate your Explorer's purchase price, stop back and let us know how it went.
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#216 of 605 Looking to lease for first time
Aug 07, 2007 (6:34 am)
I was looking for a new 07 Expl. Looking to lease for first time. Currently have 03 xlt w/46k miles but would like upgrade to EB with V8, trailer tow etc... Not sure about the whole lease thing. Any ideas what a good starting deal would be or where to start at???? I live in upstate New York but i have found that it is hard to find a vehicle up here with options that i would like to get
#217 of 605 Re: Looking to lease for first time [explorer3741]
by Car_man HOST
Aug 29, 2007 (2:16 am)
Hello explorer3741. Since you have never leased before, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In short, the best way to get a good deal on a lease is to negotiate as low a selling price as possible on the new vehicle that you want and then have the dealer that gives you that price calculate your monthly payment using its base lease rate. If you give me an idea of what the MSRP of the truck that you are interested in is and what sort of selling price you expect to be able to negotiate I would be happy to work up a sample lease payment for you.
Prices Paid: Buying & Leasing Experiences Forum
#218 of 605 Re: New Guy Here [Car_man]
Sep 04, 2007 (2:35 pm)
Can someone tell me what the x-plan is?
#219 of 605 lease explorer..
Sep 11, 2007 (5:44 pm)
am looking to lease a ford explorer(07...EB) have never leased...got a quote from a dealer here in the portland,or. area. It seems awful high....any thoughts???
Sale Price $35,999.00
Less Lease Rebates -$3000.00
(used to cover 1st payment, & DMV....ZERO out of pocket cash)
36 months 10,500 miles per year = 607.22 per month
Lease end value = $17,707.25
36 months 12,000 miles per year = 617.08 per month
Lease end value = $17,330.50
36 months 15,000 miles per year = 636.81 per month
Lease end value = $16,577.00
*All leases figured at 5.75% APR On Approved Credit.
#220 of 605 Re: lease explorer.. [mgc1]
Sep 12, 2007 (2:34 pm)
For those who need to know....
X Plan quote on a 2008 Eddie Bauer with options - vehicle had a MSRP of $39k.
Dealership told me $532/mo for 12k/yr 39 months. Upon inception, only amount due was $1000 which comprised first month, taxes, title, registration, etc.
Interestingly enough, guy said this was below X plan and said he may be able to do better.....I thought x plan was "fixed" price so I'm wondering if dealership is trying to work me like a champ....
Can anyone provide MF and residual factor for '08 EB with above details? Thanks.