- #83 of 245
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Re: 2006 Mountaineer vs 2006 EB Explorer [jtyler1]
by Car_man HOST
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Feb 12, 2006 (7:37 am)
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Replying to: jtyler1 (Jan 31, 2006 7:06 am)
Hi jtyler1. This specific discussion is for community members to ask questions about leasing a new Ford Explorer. You will probably have better luck getting feedback on the advantages and disadvantages of the Explorer versus the Mountaineer by visiting the following discussions: "Ford Explorer/Mercury Mountaineer" and "Ford Explorer/Mercury Mountaineer 2006+".
Car_man
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- #84 of 245
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Re: November Lease Figures [cwakefield]
by Car_man HOST
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Feb 12, 2006 (7:39 am)
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Replying to: cwakefield (Feb 05, 2006 7:13 am)
Hey cwakefield. I don't think that I mentioned this in my earlier reply to your question, but Ford Credit's 12,000 miles per year residual values are 2% higher than its 15,000 miles per year residuals.
Car_man
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- #85 of 245
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Re: 2006 Explorer XLT 4x2 6 cyl $306/m 24 mos 12K $2200 down inc first payment [imariquinn]
by Car_man HOST
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Feb 12, 2006 (7:45 am)
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Replying to: imariquinn (Feb 05, 2006 7:41 am)
Hi imariquinn. It looks to me as though you are paying full MSRP for the Explorer that you are considering leasing. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You definitely should be able to negotiate a decent discount on this truck, on top of having the cash incentives that are currently available on it subtracted from its price. There is over a $2,400 spread between the full MSRP and dealer invoice price of a base 2006 Explorer XLT 2WD, so you have a lot of room to work with. If the dealer that you are currently in negotiations with will not lower your truck's price, shop around and find one that will.
Also, I notice that you are considering in making a down payment and trading in a vehicle on your lease. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Explorer would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all. You can still trade your current vehicle in when leasing your Explorer, just have the dealer that you are working with cut you a check for it instead of using the proceeds as a down payment on your lease.
Car_man
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- #86 of 245
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06 explorer - lease end residual value
by walkolife
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Feb 12, 2006 (7:48 am)
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Is there any way to reduce the residual? I bought a new explorer, which I want to keep, but had to do a lease deal to keep the payment in check. The msrp was 34k. I talked them down to 29k with a monthly payment of 372. My residual is about 17k. I am unsure how the 29k truck price gets factored into this. thanks!
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- #87 of 245
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Re: Follow up, more info from dealer [imariquinn]
by Car_man HOST
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Feb 12, 2006 (7:51 am)
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Replying to: imariquinn (Feb 07, 2006 4:23 am)
In response to your second post, if you were to lease a 2006 Ford Explorer XLT 2WD through Ford Credit in your area right now for 24 months with 12,000 miles per year, its base lease rate and residual value should be 2.5% and 60%, respectively. The rate for an otherwise identical lease with 15,000 miles per year would be the same, but the residual value would drop to 58%.
Car_man
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- #88 of 245
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Re: Is Eddie Bauer 4x4 "0 down" for real? [cars4mike]
by Car_man HOST
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Feb 12, 2006 (7:59 am)
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Replying to: cars4mike (Feb 10, 2006 7:41 pm)
Hi cars4mike. the new Explorer is supposed to be a very nice truck. When negotiating a lease, always remember that consumers are always free to lease any vehicle they want without making any sort of down payment. The only things that most leases require consumers to pay at lease singing are your vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, the bank's lease acquisition fee, and any sort of required state taxes or fees. Ford is waiving the first month's payment at no charge on all 2006 Explorers this month, so you don't have to worry about that and you can roll Ford Credit's $595 acquisition fee into your truck's capitalized cost so that you don't have to pay it at lease signing if you want.
Let me know if you have any other questions about leasing this truck and I'll try to help you out.
Car_man
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- #89 of 245
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Re: 06 explorer - lease end residual value [walkolife]
by Car_man HOST
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Feb 12, 2006 (8:06 am)
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Replying to: walkolife (Feb 12, 2006 7:48 am)
Hi walkolife. Once you have finalized your lease, there is no way to alter its terms. Don't worry though because a high residual value is actually a good thing. The higher your vehicle's residual value is, the lower its monthly lease payment will be. At the end of your lease, you can decide if the purchase option price is in line with what you would have to pay for one on the open market. If not, just walk away from it and take comfort in the fact that Ford has paid for some of its depreciation for you. If the price is reasonable, but it. As an added bonus, some banks are actually willing to negotiate the lease-end purchase prices of vehicles. While there certainly is no guarantee that Ford credit will lower your Explorer's price at the end of your lease, ask them. It's worth a shot and if they do you make out like a bandit.
Car_man
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- #90 of 245
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Carman
by imariquinn
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Feb 12, 2006 (12:24 pm)
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Carman, thank for for the numbers, will the base lease rate AND residuals be the same on the EDDIE BAUER 4x2's.
Say MSRP is $34K, Purchase price is $28K, minus $3000 in rebates. 24 month lease 0 down, $299/mo.
thanks
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- #91 of 245
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Elway or Courtesy Ford
by imariquinn
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Feb 12, 2006 (12:27 pm)
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Found this online, could work for those in other areas looking for the deal. I used it to try and work on my dealer. Still waiting (closed on Sundays).
$299/mo, 24m, 0 down on 2006 Eddie Bauer Explorers
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- #92 of 245
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Re: 06 explorer - lease end residual value [Car_man]
by walkolife
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Feb 12, 2006 (12:29 pm)
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Replying to: Car_man (Feb 12, 2006 8:06 am)
thanks car man! I only learned AFTER the fact that residual is based on MSRP.
I intended on BUYING this truck, so I got them down on the price (29.1k). Then, when the monthly payments were coming in over $450, I had no choice but to lease it ( $372). I put nothing down. Do you know how the price of 29,100 (my negotiated figure) comes into play with this lease deal? I feel like I am paying FULL MSRP for this truck and that I did not get the good deal I thought I did. thanks again and hope you have some good news for me. Tell it to me straight, I need to hear the truth!
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