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Ford Mustang Lease Questions

90 messages,  Last post on Apr 10, 2008 at 1:31 AM

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What is this discussion about? Ford Mustang, Car Leasing, Coupe, Convertible

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#41 of 90 Re: Leasing Question [sasuke] by durability05 May 19, 2006 (7:57 pm)
Replying to: sasuke (May 16, 2006 5:35 am) Okay, here is all the numbers for you. I leased an 06, V6 Premium w/pony pkg convertible, automatic trans. Got it 02-2-06. With the lease factor crunched in real numbers, it was equivalent to 1.5% interest, a V8 GT lease would have equaled 7.5% in real numbers. That is the program Ford Credit had back then. The MSRP was $28,400, I got it down to $26,000 , or $100 over invoice. My lease payment is only $279/ 36 months , residual is approx. 55% or $14,000. I did have a total down payment of $3500, or $1500 more than required. Bottom line, get a deal similar to mine, but at or below invoice at least, it is already May, and the 07's are out this September. The V-6 is actually quite peppy from a standing start, at higher revs, it is sluggish. A GT is the way to go, but will end up costing you $4k more in intial price, and probably $2k more in interest etc. Also I am not impressed with my Shaker 500, I plan to replace it with a Pioneer AVIC stereo with GPS
#42 of 90 Re: April Lease #'s on 06GT [ajpbf7] by Car_man HOST May 22, 2006 (8:08 am)
Replying to: ajpbf7 (Apr 26, 2006 5:45 pm) Hi ajpbf7. In all of the areas that I have seen its lease program in (Ford's leases often vary by region), Ford Credit's current base lease rate for the 2006 Mustang Coupe GT is still 8.0%. Its 24 month lease rate isn't much better at 7.75%. This car's 24 and 36 month, 12,000 mile per year residual values are currently 66% and 56%, respectively. Its 10,500 mile per year residual values (for some reason Ford Credit has resids for 10.5K instead of 10K like most other banks) would be 1% higher.   Car_man Host Smart Shopper / Prices Paid Forums
#43 of 90 Re: Leasing with the x plan [ogmaster] by Car_man HOST May 22, 2006 (8:15 am)
Replying to: ogmaster (Apr 30, 2006 10:57 pm) I'd be happy to give you an idea of how much the car you are considering will cost to lease, ogmaster. However, in order for me to do so I need you to provide me with its full MSRP and to tell me how many miles per year you need to be able to drive it. Let me know and I'll use Ford Credit's actual current lease program to estimate this car's lease payment for you.   Car_man Host Smart Shopper / Prices Paid Forums
#44 of 90 Re: #'s for May Please! [ajpbf7] by Car_man HOST May 22, 2006 (8:17 am)
Replying to: ajpbf7 (May 15, 2006 4:39 pm) Hey ajpbf7. In most areas that I have seen this car's lease program for (Ford Credit's lease program often varies by region), if you were to lease a 2006 Mustang GT Coupe through Ford Credit for 24 months with 12,000 miles per year, its base lease rate and residual value should be 7.75% and 66%. The numbers for an otherwise identical 36 month lease should be 8.00% and 56%. If you lease with only 10,500 miles per year your car's residual values will be 1% higher.   Car_man Host Smart Shopper / Prices Paid Forums
#45 of 90 Why lease? by pony_pirate May 22, 2006 (10:20 am)
Why lease at 7.5-8% when you can buy at 5-6% (unless the interest is a business deduction)?
#46 of 90 complete ignorance by ekmajm May 26, 2006 (4:36 am)
Thank you for your service! We can definately use it! My husband is in love with a 2006 V8 Mustang and we are considering leasing it to see if that would help it fit into our budget more easily. We have leased twice before, and have made mistakes both times. Please help us know what questions to ask and how to be prepared when we step into the dealership so we may make a more informed decision. Thank you!!! Replies to this message: Car_man (Jun 12, 2006 1:42 am)
#47 of 90 not so ignorant anymore by ekmajm May 26, 2006 (9:17 am)
I've been educating myself online and now feel much better about leasing terminology, pros & cons. However, two questions remain: 1. How much of a disadvantage would I find myself if I threw an upside down vehicle into a lease? 2. Is it truly unwise to lease a car in Texas? Replies to this message: Car_man (Jun 12, 2006 1:47 am)
#48 of 90 Hey by mindless Jun 04, 2006 (4:54 pm)
I recently turned 18 and ruled buying a car out of the question at this age due to my lack of credit, and I refuse to let someone cosign for me.   I therefore looked in leasing, I love the 2005 Ford Mustang GT Coupe. However, leasing will only permit for the 2006 or 7. I like the 2006 equally as much. The car dealer gave me alot of gibberish. Really I just have some simple questions regarding leasing. If I were to lease the particular vehicle, which the sticker current is 26, 705 (assuming that was the final price agreed on)... for a 36 month lease, would it be something ridiculous? According the the online payment calculator for ford, which I don't like too much ... for a 36 month it would end up being 382 a month and I'd need to put down basically 4800 to start.   I'm thinking more realistically, what do you think it would eqivalate to? Not to mention, I have no built up credit because of age and lack of long term contracts prior, I don't have bad credit, just no built up credit. When it comes to leasing, will they turn me down because of my age and fresh credit?   Thanks, Louis! Replies to this message: Car_man (Jun 12, 2006 1:50 am)
#49 of 90 Re: complete ignorance [ekmajm] by Car_man HOST Jun 12, 2006 (1:42 am)
Replying to: ekmajm (May 26, 2006 4:36 am) Hi ekmajm. Since you haven't had any success with leasing in the past, 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. Once you have read them, let me know if you have any other specific questions about leasing in general or specifically about leasing a Mustang.   Car_man Host Smart Shopper / Prices Paid Forums
#50 of 90 Re: not so ignorant anymore [ekmajm] by Car_man HOST Jun 12, 2006 (1:47 am)
Replying to: ekmajm (May 26, 2006 9:17 am) Hello ekmajm. In the past consumers in Texas have often gone with balloon notes instead of leases on vehicles because of the tax laws. I have seen a lot more talk about leasing in Texas recently which leads me to believe that the sales tax laws for leasing may have changed there, but I am not positive that is the case.   Other than the fact that it is not really a wise financial decision to get a new vehicle when you are upside down on your current one, I don't think that leasing a new vehicle when you are upside down on your current one puts you at any disadvantage. Just keep your new vehicle and trade-in transactions separate until the last minute. Negotiate the lowest possible selling price and lease payment on your new car and then have the dealer tell you how much your payment would change if you added your negative equity into the equation.   Car_man Host Smart Shopper / Prices Paid Forums

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