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Ford Explorer Lease Questions

239 messages,  Last post on Apr 16, 2008 at 11:56 AM

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

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#230 of 239 Re: 2008 explorer xlt question to car man [leslie12] by Car_man HOST Jan 17, 2008 (3:36 am)
Replying to: leslie12 (Jan 03, 2008 4:55 pm) Hey leslie12. You never mentioned the selling price of the Explorer that your husband is interested in leasing. This is an important number for him 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 the price of the truck that he wants to lease he doesn't know how good a price he are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary 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 its selling price is.   I am not sure if the Sync and Navigation systems can be offered in the same vehicle. It seems pretty strange that they can't, but perhaps in order for it to work they both have to be factory-installed.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#231 of 239 Re: Explorer lease questions? [tawright4] by Car_man HOST Jan 17, 2008 (3:58 am)
Replying to: tawright4 (Jan 09, 2008 6:24 pm) Hello tawright4. Ford's lease program on the 2008 Explorer is slightly better in the New York area than it is in the rest of the country. Ford is currently providing $3,000 to $3,500 lease cash on the 2008 Explorer, the exact amount varies by region. What you do with this cash is negotiate a selling price on the Explorer that you want that's as close to dealer invoice as possible and then have the dealer that gives it to you deduct the lease cash from that to arrive at the capitalized cost for your lease.   Unfortunately, most banks do not deal directly with the general public when leasing vehicles. This is OK though because Ford Credit's lease program for this truck is so attractive that you probably won't be able to lease it for less through an independent bank anyhow.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#232 of 239 Re: 2008 Ford Explorer XLT [kscap] by Car_man HOST Jan 17, 2008 (4:37 am)
Replying to: kscap (Jan 15, 2008 1:07 pm) Here's the information that you're looking for, kscap. This truck's lease program varies by term, mileage allowance and region. You never mentioned what any of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Explorer XLT 2WD with 15,000 miles per year are 3.5% and 42%, respectively in most of the country. It is better than this in select areas.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#233 of 239 2008 Ford Explorer EB v8 Lease by aleatory Feb 17, 2008 (2:55 pm)
Car_man,   I'm in Maryland, and am looking at leasing a 2008 Ford Explorer Eddie Bauer v8 4x4. MSRP with options is $39,345 and the invoice is $36,411. There is an additional $3,500 lease incentive available. I am anticipating negotiating a high of $300 over invoice--$33,241.   What is the (1) residual value and (2) interest rate to lease this vehicle for 39 months with 15,000 miles per year?   Thanks in advance! Replies to this message: Car_man (Feb 21, 2008 3:37 am)
#234 of 239 2008 EB V6 4x4 Lease by wbenedict Feb 18, 2008 (8:38 am)
I'm from PA and I currently see a sign and drive advertised at $359/mo for 39 mos. and 10,500 miles per year for base model V6 4X4 Eddie Bauer. This price is before an additional $1,000 renewal cash, so my real monthly payment will be more like $332.   What is the residual value and money factor for this offer? I've had another dealer quote the exact same base model for $299/mo but with 1,264 due at signing and also having to pay that first month payment. This price is after the renewal cash. Need to evaluate the two offers.   Also, I had one dealer tell me to wait until March as there will be a better lease offer starting on 3/2. He didn't know the specifics - just said it would be better than the current offer.   Thoughts from anyone? Replies to this message: Car_man (Feb 21, 2008 3:50 am)
#235 of 239 Re: 2008 Ford Explorer EB v8 Lease [aleatory] by Car_man HOST Feb 21, 2008 (3:37 am)
Replying to: aleatory (Feb 17, 2008 2:55 pm) Greetings aleatory. Thanks for providing tons of information in your post. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2008 Ford Explorer Eddie Bauer V8 4WD with 15,000 miles per year are 3.75% and 42%, respectively. Let's use these numbers to calculate a sample lease payment and see what we come up with. According to my calculations, if you were to lease an '08 Ford Expedition Eddie Bauer 4WD that has an MSRP of $39,345 and a selling price of $33,211 ($300 over invoice minus $3,500 lease cash), your zero down, pre-tax monthly payment would be around $506. Wow, that's a lot of money for an Explorer. If I was in the market for a mid-size SUV right now I would be more inclined to go with a Honda Pilot or a Toyota Highlander.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#236 of 239 Re: 2008 EB V6 4x4 Lease [wbenedict] by Car_man HOST Feb 21, 2008 (3:50 am)
Replying to: wbenedict (Feb 18, 2008 8:38 am) Hey wbenedict. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2008 Ford Explorer Eddie Bauer V6 4WD with 10,500 miles per year in Pennsylvania are 3.75% and 45%, respectively. Ford's lease cash for the Explorer varies by region. You mentioned that you are in Pennsylvania, but not what part. The last time that I checked, Ford was providing $3,500 lease cash on the '08 Explorer in the Pittsburgh area and $4,000 on it in the Philadelphia area. I have not heard that Ford is planning to improve its lease program on the Explorer in March, but if a dealer is telling you to wait to get a new vehicle instead of trying to lock you into one right now there may be something to this rumor.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#237 of 239 Leasing Numbers?? Can these be right? by kirk94 Apr 03, 2008 (4:01 pm)
Ok heres the deal, I am about 10K upside down on a 08 Acura TL. Long story short my company requires us to have a 3 year or newer vehicle for the car program they have for outside salesmen and I traded a 3 year old Titan and got into a car... 1) Hate a car 2) drive onto construction sites sometimes etc, not practical for my job big mistake.. I bought this car in hopes it would hold its value over 3 years and after running the numbers I am eventually going to be in a similar situation in 3 years as I was with the Titan by rolling over negitive equity on trade in.   I am looking at 2008 Explorers Eddie Bauer lease with X plan and $4250 in rebates. with this much negitive equity Im told I cant look at xlt b/c they wont do the loan off the msrp. So I am looking at leasing for 39 months to get out of being upside down. My payments are going to stay the same but I want to make sure I am not getting jerked around on the lease, it is figured at 18K miles a year. Here goes. 2008 4x4 Eddie Bauer V6. I live in Louisville Ky.   The way I see it:   MSRP - $35450   X plan Price = $33,489 agreed selling price with dealer Lease cash - $4250                      = $29,239 Negative Eq. + 10,000                      = $39,239 $Down 1000   Payments should be close to around $700 before tax.   For some reason the dealer is figuring this and I dont know what some of the terms mean, it is off his quote worksheet.   Selling price - $44,000 Cap Fee Window - $1,243 MFD Rebate - $4,250 Cash Cap Reduction - $969 Adj Cap Cost $40,024 MSRP $35,450 Residual % 39 Residual value $13,825.50 APR 2.75% Term 39 Tax window $2125 Base monthly Payment = $733 Total monthly Payment = $807.72 Due at signing - $2,160   I dont know what to make of all this. Am I getting a good deal considering the mess I am in? The payment on the lease is to the dollar amount I am paying on the Acura on a 60 month note. In theory I want to be able to throw the keys on the table in three years and be done with upside down on every car I have ever owned. But I can't decide what to do.   Regards Replies to this message: Car_man (Apr 09, 2008 3:24 am)
#238 of 239 Re: Leasing Numbers?? Can these be right? [kirk94] by Car_man HOST Apr 09, 2008 (3:24 am)
Replying to: kirk94 (Apr 03, 2008 4:01 pm) Hi kirk94. You're in a difficult situation. Normally I would advise someone who was so upside down on their vehicle to wait until they were less upside down to get something new. However, this does not sound like it is an option for you. If you have to get a new vehicle, at least you are able to do so through Ford's X-Plan. Access to this program should provide you with an extremely attractive selling price on the Explorer that you want without having to haggle. Since you are guaranteed to get a good price on your new vehicle, you need to focus on how much the dealer is giving you for your TL. The more the dealer gives you for your trade-in, the less upside down you are on it. Make sure to look up your car's Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". If you feel as though you are not being given enough for your TL, you can always comparison shop with a few other dealers in your area.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#239 of 239 2008 Eddie Bauer Deal on the table by westham999 Apr 16, 2008 (11:56 am)
36 month lease on 2008 EB; Nav system; Power Moonroof; 18" Chrome clad Alum Wheel;Aux Climate Control; Reverse Sensing; 50/50 Fold 3rd Seat; Luxury Pkg; X-PLAN Price; Rebates total about $6.6K; Residual 17-18K; 10.5K miles per year Out of pocket = $1700. 36 X 480per month. Thanks for your comments.

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