Ford Expedition: Lease Questions

120 messages, Last post on Dec 02, 2008 at 6:03 AM

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

#119 of 120 Why Lease? by driverofcars Oct 28, 2008 (8:11 pm)
With the brutal interest rates and cliff drop depreciation on 07's and 08's, why would you lease? Even after taxes, etc., you can get a great value right now on a practically new Expedition. The companies that used to buy batches of leases are no longer touching American and many other cars- the value prop of a lease has fallen into the toilet since about August.
#120 of 120 Just wondering.... by wvgasguy Dec 02, 2008 (6:03 am)
Got my Expedition last November on a 2 year lease. Was excited with the deal and love the vehicle. What I liked was residual of about $23,500 at the end of the two years and was thinking WOW, what a deal that would be. I planned to purchase it. However with the huge drop in values and a year to go my 08 is already at a $22.7 trade / $25.9K private party value. I looked up the price on an 07 figuring that's what my 08 would be worth in a year and the trade is $17.3K and $20.5K private party value. It's looking like while keeping my ride in really good condition and having it as an excellent used vehicle buying opportunity is not going to pay off as the price I'll have to pay will be $3K to $4K over ppv and a whopping $6K over what I could get for it in a trade. Looks more and more like a walk away deal every day. Have any of you been able to deal with Ford Credit/Leasing to purchase at a price below residual?