Last post on May 20, 2013 at 4:42 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Ford Explorer, Car Leasing, SUV
#513 of 603 Re: February Lease Rates [ltrain1]
Feb 07, 2013 (2:43 pm)
Seems to me like you might be paying too much on the monthly payment. Granted, our terms aren't the same, but I just got an Explorer XLT AWD, 202a, navigation, power lift gate, tow package, and dual panel moonroof in MI.
36 months, 10,500 miles
Lease rate of .25%
Rebates - $1500 + $500
Trade-in - $1000
MSRP - $42,075
Sale Price - $37,403.98
Taxes - $886.28 (6% of total monthly payments + 6% of capitalized cost reduction)
Residual - $23982.75 (57%)
The acquisition and doc fees ($710 total) were rolled into the Sale Price, and I had to pay $567 out of pocket for first month payment plus title, registration, etc.
Total monthly payment - $334/month
I'm not sure what your tax percentage is, but if I try plugging your numbers into an online lease calculator, I'm coming up with a lower payment for you than $375 (around $325). I was assuming 6.85% tax for MN. There is also a difference of $275 between my trade-in and rebates vs your rebates, but that shouldn't affect the monthly payment by much.
#514 of 603 Explorer XLT 4WD
Feb 08, 2013 (11:25 am)
Best offer I've received so far:
2013 Explorer XLT 4WD with 202A
All weather floor mats
Power lift gate
Dual panel moonroof
Rear seat DVD
Trailer tow package
20" Aluminum wheels
$2000 lease cash plus $1000 conquest cash
36 months, 15K miles per year with $760 total out of pocket for $442 per month including 7.75% tax rate. I'm looking to do better but it gets exhausting spending so much time at the dealer. Internet quotes aren't coming in this low. Thoughts?
#515 of 603 Explorer Base XLT Lease
Feb 10, 2013 (8:15 am)
Hello, all. Have been doing research on the Explorer for my wife and found this forum which has been very helpful! Hopefully someone can provide me feedback on the deal I've negotiated on a base XLT with no options in NJ.
$2,000 down total including tax, tags, fees, and first month's payment.
This is the lowest I've gotten after going to 3 dealerships. Would appreciate any input. Thanks!
#516 of 603 Re: Explorer Base XLT Lease [ootsie79]
Feb 11, 2013 (9:35 am)
You left out a critical part of the equation. How many months is the lease?
#517 of 603 Explorer Limited w/res Lease
Feb 11, 2013 (10:26 am)
I am looking for money factor and residual value on a 2013 Explorer Limited with rear seat entertainment. I am in Southern California and need 12,000 miles per year on a 36 month lease.
If anybody has this information it would be much appreciated. I am in the process of formulating the numbers.
#518 of 603 Re: Explorer Base XLT Lease [rehab702]
Feb 11, 2013 (11:05 am)
Yes I did...36 months. We're scheduled to sign on Friday.
#519 of 603 Re: Explorer Base XLT Lease [ootsie79]
Feb 11, 2013 (1:31 pm)
Doesn't say anywhere in your original post that it was 36 months, maybe you had an earlier post that I didn't see. Either way that clears it up. Thanks!
#520 of 603 Re: Explorer Base XLT Lease [rehab702]
Feb 11, 2013 (2:15 pm)
Sorry...meant yes I did forget to include it. Was my mistake. Thanks for responding to my post.
More info that might be helpful, I think they're using a .25% interest rate, and when I run the numbers, I came to the conclusion that they're using a residual of about 58%, which I believe is good.
#521 of 603 Re: Explorer Base XLT Lease [ootsie79]
Feb 11, 2013 (2:36 pm)
I'm looking at the same vehicle and trying to determine whether to buy or lease. The residual and interest rate look very good.
What rebates did you qualify for?
Does your monthly payment include sales tax?
#522 of 603 Re: Explorer Base XLT Lease [rehab702]
Feb 11, 2013 (6:56 pm)
Qualify for about $3,000 in incentives which includes $1,000 in conquest cash.
Payment includes sales tax. Residual might actually be a bit higher because the lease calculator didn't calculate registration and title which is included as well.
We also requested the Explorer brochure in the mail which may or may not contain a coupon for more off. Dealer said if it comes before Friday, he will honor it.