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Ford F-150, Ford F-250, Ford F-350, Car Leasing, Truck
#139 of 226 I need F-150 Lease Help
Jan 05, 2009 (7:29 pm)
I am a business customer who is trying to get the best lease possible on a new Ford F-150. I have several questions but will start with the offer I am considering today:
2008 F-150 4X4 XLT CREW
Track Lease - 42 months - 7.62% - Residual 35% -
Payment - $560.58 + tax
Drive Off of First Payment License and Tire Fee ~1050
Cap Cost - 28344.55
Cap Cost figured with a 5800 rebate and ford a plan pricing of 34144
1)My company has used red carpet business leases and track leases in the last 12 months. Apparently they don't care which direction as long as we get the necessary miles to not get killed on the back end. I drive ~30k per year. With today's programs is their a definitive advantage to redcarpet vs. track?
2)I am trying to get the same dealer to quote me this vehicle on a red carpet business lease to see how the terms change. Can you give me the current red carpet business rebates and money factors for the f-150 for 2008 and 2009 models.
Thanks in advance for any and all help
#140 of 226 Re: I need F-150 Lease Help [mattnday]
Jan 07, 2009 (3:10 am)
Hi mattnday. You're in luck. Ford extended the Employee Pricing offer that it was running in December through January 12th. This means that you will be able to get an excellent selling price on the '08 F-150 that you are interested in without having to haggle.
Wow, you drive 30,000 miles per year . That's a lot of driving. I believe that the highest mileage allowance that Ford Credit offers is 19,500 miles per year. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.
This may be a moot point though, because I don't believe that Ford Credit is offering Red Carped leases on any '08 models other than the Edge at this point. Most banks pull the plug on lease support for leftover models late in the model year because the residual values are so low at that point that providing enough support to arrive at a reasonable payment is very expensive.
Ford Credit is leasing the 2009 F-150, but as you know it has been redesigned and it is a completely different truck than the 2008 model. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2009 F-150 SuperCrew 4WD with 19,500 miles per year are 3.5% and an unattractive 36%, respectively.
As you can see, Ford Credit 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.
Prices Paid: Buying & Leasing Experiences Forum
#141 of 226 2009 f150 lease
Feb 27, 2009 (9:11 am)
Hi, I am looking for ford's current lease residual value and lease rate for a 2009 f -150 lariat supercrew 4x4 for 24 mo. and 10,500 mi/per yr. thanks for the help
#142 of 226 Re: 2009 f150 lease [rdb0222]
Mar 10, 2009 (2:19 am)
Hi rdb0222. Unfortunately, Ford is not currently providing lease support on the F-150. As a result, leasing this truck right now is going to be very expensive. Unfortunately, it appears as though the days of reasonable leases on pickups are over.
Prices Paid: Buying & Leasing Experiences Forum
#144 of 226 ford lease end problems //nightmares
Aug 22, 2009 (8:34 am)
I had leased Ford products for 10 years. I had never been charged for any damage (or so I was told) on any turn ins when I leased a new vehicle. When I turned in a Mustang I was told there was $1800 in damage but I would be charged $2200. I had a large body shop give me an off site estimate and their price was $425.00. for touch ups. I told the dealer I would not pay their estimate and I would the body shop do the touch ups. They said no. If I did not pay them their price they would turn me in to FMCC and they would ruin my credit.....they did.
Three moths later I turned in an Explorer. I had it detailed and it was perfect. I owed for extra miles but, the dealer charged me for the mileage and $800 in body damage. I told them I would pay for the milage but not the fictitious damages. They said I would pay them all of it or they would turn in the full amount to Ford and if I did not pay them the full amount that FMCC would ruin my credit...they did.
Now I was feeling like I was being a target of extortion.
Just a few months later I turned in my F150 super crew...great truck. This time I was so angry I did not speak to anyone at the dealer and just dorpped it off. A week went by and my old salesman...the guy whom I had bought or leased 13 vehicles in 10 years from...called to ask the combo to get in the truck for the keys. I thought they kept that in a file. I was wrong. I told him to contact me with the final info. He or no one at the dealership ever did contact me. But a $17600.00 now the by out for the lease was $17500.00. I called them and ask how I could owe more than the pay off amount. They said they would send me copies of the dealer documents.
When I looked at them I realized someone had changed the terms of my lease and falsly signed my initials in two different locations...actually it was two different sets of initials and not even close to mine. This change the amount of lease mile I paid for up front. I also found that the dealer had charged me for a bad engine ( it was not, I would as an engine mechanic in a dealership and have substaintial engine experience) and $4600 in body damage for scratches in the bed an whatever. I was a lie....I have pictures of when I turned it in.
FMCC said if I did not pay the full amount they would attach my credit file. I told them of the altered lease and sent them a copy of my original. They took off $3500 of the charges but, not for their previous amount of $17600 but instead the took it off an aount of the dealer "turn in sheet" of $18150.00, an amount they previously did not approve. I told them it did not have the engine and body damges I was charged for. They provided me their documents that supported my claim of false damage claims but, said I had to pay them whatever they said of they would ruin my credit....they did
This has gone on for 6 years and they continue to stall. I have since found other cheated by this dealer. Do you have any ideas how to correct this or have you had simmilar problems? Please respond to me here
in the subject window
Thanks for your help
#145 of 226 Question about negoiating a price.
Aug 29, 2009 (1:24 pm)
Hi, I'm interested in this truck: http://tiny.cc/qwf8A
This dealer is a credit union who keeps the nice vehicles that get returned from a lease. In some cases the vehicles have been leased twice...
My question is, what should I offer them for it? Here is my rationale.
1. the truck has likely been paid for once by the guy who was "fleased" by the lease
2. These vehicles will eventually be sold at auction if the credit union does not sell them
3. These trucks have been depreciated... this one by 5 years...
So, what should I offer? What would a truck like this fetch at an auction in Michigan? Do I have any leverage with the bank if I ask them to look at the books and see just what they need to get for it to pay off the residual value?
I am looking for some help. I need a truck, dont want to buy new, but want some negotiating power wiht the bank who owns it..
Please reply especially those with this kind of experieince either negotitating to buy or on the banking side of the sales business..
#146 of 226 Re: Question about negoiating a price. [redwing_al]
by kyfdx@Edmunds HOST
Aug 30, 2009 (8:36 am)
I couldn't get your link to open, but it isn't really relevant, anyway...
As far as the three points you brought up? None of that matters. Just like any other car dealer, the credit union has an asset for sale. The only thing that matters is what that vehicle is worth on the open market. Where that truck came from, it's leasing history, or anything else won't change what it's worth.
Now.. your credit union may not be all that savvy of a car dealer, but if they are doing leases, then chances are... they know what they are doing. They may take less than a comparable used car lot, but they certainly aren't going to sell you the car for the same that they would get wholesaling it at auction.
So... determine what the market is for that truck, decide on a price you'd be happy to pay, and go offer them a thousand less... and see what happens.
#147 of 226 Re: ford lease end problems //nightmares [cheatedtoo]
Sep 24, 2009 (5:54 pm)
I find it hard to believe you leased 13 vehicles in 10 years but irregardless you should have signed for Wear Care. Wear Care would've waived any and all damages.
Of course ANYONE who leased 13 Ford vehicles in 10 years should have figured that out after about the 3rd or 4th time of getting "cheated." Or maybe you treat your leased vehicles like you own them. Unfortunately, you do not. Lesson learned.