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Ford Expedition: Lease Questions

132 messages,  Last post on Apr 21, 2013 at 3:29 PM

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

    

Messages Page 11 of 14

#93 of 132 Re: 2008 Expedition Limited [gonecruzan] by Car_man HOST

Nov 08, 2007 (3:20 am)

Replying to: gonecruzan (Sep 21, 2007 5:23 am)
I'm glad that you enjoy this forum so much, gonecruzan. Unfortunately, chances are that you will not be able to take advantage of the fact that you are way under your Explorer's mileage limit. In order to do so, it much be worth significantly more on the open market than your purchase option for it. This is usually not the case, especially with domestic vehicles. If it was, you could trade it in or purchase it and sell it privately.
 
In order to determine whether you should purchase your vehicle at the end of your lease, you need to compare its purchase price to its value on the open market at this time. Even though it states your truck's purchase option price on your lease contract, you should place a call to the bank that you are leasing it through just to make sure that you have the correct figure. When you do so, it never hurts to try to haggle with them. Some banks will negotiate the lease-end purchase prices of vehicles. If your initial contact at your bank is not willing to lower your vehicle's purchase price, you may have better luck if you work your way up the ladder to a manager. There is a good chance that they will not lower your vehicle's price, more often than not they will not, but you don't have anything to lose by asking.
 
As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
 
If you believe that your Explorer is worth significantly more than it would cost you to purchase it, then you might want to consider trying to profit from its low mileage. If not, then just walk away at the end of your lease.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#94 of 132 Re: Leasing an Expedition [dylcon] by Car_man HOST

Nov 09, 2007 (3:12 am)

Replying to: dylcon (Oct 13, 2007 6:38 pm)
Hi dylcon. Let's see just how much going with a 39 month lease instead of 36 months will lower this truck's monthly payment. According to my calculations, if you were to lease a 2008 Ford Expedition Limited 2WD that has an MSRP of $46,265 and a selling price of $40,681 through Ford Credit right now for 36 months with 10,500 miles per year, your zero down, pre-tax monthly payment would be around $561. The payment for an otherwise identical 39 month lease would be around $553. So it looks like you're looking at a savings of only $8 per month.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum

#95 of 132 Re: RCL Residuals - 08 Expy [Car_man] by rob052067

Nov 16, 2007 (3:37 pm)

Replying to: Car_man (Nov 08, 2007 3:07 am)
Thanks!!

#96 of 132 Hoss5 by hoss5

Nov 21, 2007 (8:23 pm)

I'm interested in an Expedition EL. I am considering lease vs. purchase. I've looked at a 2007 Expedition EL demonstrator. It has 10,500 miles. The invoice is $43,500 or thereabouts. The purchase price is $41,500 or thereabouts. We have a 2004 Excursion (clean) with 87,000 miles. The dealer only wants to allow me $10,500 on a trade-in. I understand the 66 months, 0% financing on a purchase, however, don't fully understand the intricacies of a Red Carpet Lease as to the residual and the like. Please advise.

#98 of 132 Re: Hoss5 [hoss5] by wvgasguy

Nov 22, 2007 (8:38 pm)

Replying to: hoss5 (Nov 21, 2007 8:23 pm)
If you're already trading an 04 then you probably won't get the full advantage of a 0% financing on the 07. Those deals really only save you the full amount when you indeed keep the vehicle for the life of the loan. Typically if you trade every 2 or 3 years take the rebates,
 
I found the leases complicated but had 2 dealers explain it because it seemed too good to be true. Was better off with an 08 rather than an 07. The fact that this is an 07 with miles may hurt you in trying to lease it.
 
The advantage I had with the lease is that you still get the rebates but the lease financing was only 0.5% on my loan. With a 2 year residual of 52%, that means I'm basically financing half of the vehicle close to 0% anyway. Comparing the lease to a loan from my Credit union, I actually can lease and then buy a lot cheaper than just buying.
 
0% is a good thing but don't try to fool yourself if you know you're going to trade in a few years. In two years your 07 will be 3 years old and worth about 45% of MSRP.
 
If you don't believe that how about the $10.5 they are offering you now?
 
Also with 87K miles on an 04, I'm guessing you drive a lot and that could be pretty expensive on a lease. I have the max at 19,500 miles per year and anything over that is 20 cents a mile (unless I buy it)

#99 of 132 Can I negotiate further on this Eddie Bauer Deal? by davidr719

Dec 09, 2007 (5:12 pm)

Hi, I am in the process of trading in my 2006 Eddie Bauer Explorer that is coming off lease and looking to take advantage of the program they have in place to keep you in one for 2008. My question is the vehicle I am looking at has an MSRP of $33,940. my question is can you further negotiate the price because I am already getting $2,500 + $1,000 as listed on ford's website. I believe I also get an additonal $1,000 loyalty cash back if i get back into another explorer. That means I am already getting $4500 off the MSRP. I know I am supposed to negotiate from the Invoice - holdback up...but are they going to give me a song and dance that i am already getting so much off? But so, far, the rebates are only from the manufacturer, not the dealer so is there room to move?
 
The monthly lease payment is looking to be $430 for me. I am doing 39mths at 18k per year with first month + tag fees for a total of $520 out the door. I am in Phila, PA. I would really like to see if I can get more off from their end because so far, the dealer hasn't discoutned anythign or is tht considered when the manufacturer builds in those rebates. If i can negotiate, what is reasonable? Thanks

#100 of 132 Re: Can I negotiate further on this Eddie Bauer Deal? [davidr719] by wvgasguy

Dec 10, 2007 (7:37 am)

Replying to: davidr719 (Dec 09, 2007 5:12 pm)
Rebates are not dealer discounts. You should be able to get both. I actually got my Expedition lease with XPlan pricing and rebates. Very satisfied.

#101 of 132 Re: Can I negotiate further on this Eddie Bauer Deal? [wvgasguy] by davidr719

Dec 10, 2007 (5:13 pm)

Replying to: wvgasguy (Dec 10, 2007 7:37 am)
The guy told me that ford, when they build lease lease deals, they build them at invoice price and thats it...as if there is no room to negotiate beyond the factory.

#102 of 132 Re: Can I negotiate further on this Eddie Bauer Deal? [davidr719] by wvgasguy

Dec 11, 2007 (2:45 pm)

Replying to: davidr719 (Dec 10, 2007 5:13 pm)
If you got it at invoice I;m not sure I'd haggle the dealer too much for anymore anyway. However, as I said I got mine at x-plan less $1500 rebates as my capital costs

Messages Page 11 of 14

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