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Prices Paid: Buying & Leasing Experiences Ford Flex Lease Questions
123 messages, Last post on Oct 06, 2009 at 11:32 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: chuck68516 (Feb 27, 2009 6:43 pm) Um, with X-Plan I get invoice which is about $1900 on the MSRP $28620 model you state. Add the $3000 rebate to that, the $1500 "renewal rebate", which is actualy the lease loyalty rebate, and I save $6400, plus the fees, plus don't have to pay any dealer fees. All without having to negotiate for one single minute. I can walk in, sign, and drive out. You should be able to walk into ANY dealer in America and get WAY under X-Plan. I disagree. It's winter here in the snow belt and anything AWD still carries a slight premium. Local market and demand play a big role in how low the dealer is willing to go.
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Replying to: baggs32 (Feb 27, 2009 8:00 pm) Here's another example of why X-Plan is useless. 2009 Flex SEL AWD MSRP: $35,410 X-Plan: $33,287 WHOOPIE!!! You are getting $2,123 off sticker. YAY! Also, "the fees and any dealer fees" should only be the acquisition fee and maybe a document fee. Big deal. You are only saving about $700. My suggestion is to negotiate a price without ever mentioning the X-Plan. Ask anyone their opinion. X-Plan and any other so called "supplier" discount is good the day a new model comes out or when you are looking at a hard to find model where there is little negotiation room. It is not useful when it is March and the car has been sitting on the lot for 7-8 months. It should have depreciated $2,123 on it's own by now.
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Replying to: baggs32 (Feb 27, 2009 8:00 pm) I had the same situation with Subaru. I thought the VIP Partner Program my wife can get through her work would help us. Wrong. The sales lady also laughed in my face when I mentioned it. I think in this economic climate these programs have become useless. I guess the only advantage of it would be the fact that you wouldn't have to negotiate any deals. Of course that is at the cost of a way higher car payment.
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Replying to: djhalptert (Mar 01, 2009 9:01 pm) If I were buying then sure maybe I could negotiate a better deal than X-Plan at a dealer I've never used before. The one I have been leasing from is one I trust and they always give me a fair price with no hassle, X-Plan or no. That's worth more to me than $10 per month.
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Replying to: chuck68516 (Mar 01, 2009 6:25 pm) Add the $700 in fees and I'm right there with you. There isn't a dealer within my range that would give that much off on the first try on an AWD Flex. You're also reaching the point at which the dealer will make no profit so I don't see how you think they are going to go low enough to make the deal "way better". Buying or leasing with X-Plan gives you a fair and fast deal. I'm not keen on spending weeks of my life trying to squeeze every last red cent out of a dealer. I know some people like to do that and are willing to do that but I'm not part of that group. Your advice is noted but no thanks. Every dealer I've dealt with quoted sticker first and worked down from there. I've always done much better with X or S-Plan. |
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Replying to: baggs32 (Mar 02, 2009 10:02 am) Also you said you had an Explorer that you leased? What is your payment?
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Replying to: djhalptert (Mar 03, 2009 7:32 pm) Since I can't turn the Explorer in, without penalty, until May I've only asked for an OTD monthly payment with no money down and no money due at signing. Just sign then drive. I told them I have an X-Plan PIN, which I do, and the MSRP of the Flex in question was $35,465 give or take. $499 per month for 39 months at 10,500 miles per year was his quote. I don't have any more details right now because I was just testing the water so to speak. Why? Also you said you had an Explorer that you leased? What is your payment? Yes. 2006 Explorer XLT 4WD. MSRP was something like $34,500. $495 per month for 39 months, 10,500 miles per year. We traded a 2005 Escape in when we leased it and negative equity was involved. I think it was something like $1500 we lost on the trade. 2 payments left on the Explorer. PA taxes the monthly payment 10% rather than taxing the purchase price with leases. All we care about is getting a fair price and an easy buying/leasing experience. I'm not one to battle the salesmen for another $10 to $20 off per month. If I know I'm being ripped off, which has happened once with a Mazda dealer, I'll battle for the better price for sure.
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Replying to: baggs32 (Mar 04, 2009 9:32 am) I have turned in 2 Ford leases early with no penalty. Each time they gave me Trade-In Value which was higher than what my lease buyout was. Of course those were on a loaded 2002 Ranger (MSRP $24640) ZERO down, payment was $219 for 36 months. Traded it in 6 months early with no penalty. Leased into a 2004 Ford F-150 XLT (MSRP $27,320) payment was $273 for 36 months. Traded it in 4 months early. Leased into a 2007 Ford Edge (MSRP $32,690) payment is $340). Don't use X-Plan and you could turn YOUR leases in early with no penalty. Seriously, X-Plan is worthless.
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Replying to: djhalptert (Mar 04, 2009 9:02 pm) Yeah, after laying down $4000 for the fees and down payment. I finance all of that in so I don't have to write a check at signing. That takes you much closer to $600 per month for that tiny tin can BMW. And no $1,500 in negative equity isn't really going to change your payment that drastically on a 39 month lease. It added $30 per month. I bought a 2003 Explorer new in June 2003. It was stickered at just under $30,000. ($29,9XX). I paid $18,600 for it. X-Plan was probably $27,990 Again, you bought. How is any of that relative to leasing? What were the incentives? Did you have a trade? Did you put money down? I'm guessing they lost money on that deal which is hard to believe. I've never met a dealer willing to lose money on a sale. Do you know why you can't turn in your Explorer early without penalty? Because your payments are so high they can't absorb the residual. No, the residual was too high and the value of an Explorer is at rock bottom right now. The residual was 52% which means they're going to have a really hard time selling it for what it's supposed to be worth when I turn it in. Why then would they let me turn it in early and forgo those last 2 payments which means they would lose even more money? Seriously, where are these dealer you go to who like to lose money on a regular basis? I have turned in 2 Ford leases early with no penalty. Not surprising. This was quite common before this year. I turned a lease in early, 2004 Mazda 6 S, a couple of years ago with no penalty too. What's your point? Each time they gave me Trade-In Value which was higher than what my lease buyout was. That's what they're supposed to do. Did you know you can sell your leased vehicle too? As long as you write a check for the balance of payments you get to keep the rest. The trade-in works that way too. Don't use X-Plan and you could turn YOUR leases in early with no penalty. Help me to make sense of this now. I should not use X-Plan and negotiate for a lower selling price. All while telling them I want to turn my lease in early with no penalty and ask them to pay for that too? I've tried pal, it doesn't work. Maybe where you are it does but this is truck and SUV land here and it just doesn't work that way. I did do that with a car as mentioned above. But not with a truck or SUV and I don't know anyone who ever did. I'm not sure why some of you think that if it happened for you then those rules apply universally. There are significant differences in lease and purchase negotiations and incentives from region to region and even county to county. Time of year plays a role too. Right now I'm sure I could get a 2009 Fusion for a steal but not a Flex or an Edge for example. I'm not sure how to make you understand that. 
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Hi, I'm considering a Flex Limited. In the suburbs of Chicago, need 12,000 mi/yr, 3 year lease. Can you give me an idea of residual and money factor? Thanks!
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