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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: baggs32 (Mar 11, 2009 8:47 am) Thought I would jump back in here. 1. Ford's security deposit is not mandatory. It is not even recommended. Wear Care is a complete and total rip off and can be waived. Just put a check mark in the box that says no on the Wear Care form. 2. Your state is one of the few that leasing makes literally zero sense. 10% sales tax on a lease! And that has to be added into the net cap cost so you are paying the rent charge on it too? Ouch! 3. I don't think you could lease a Flex SEL AWD for any less than $375 in any state or through any high volume dealer. However, I do think $500 is outrageous whether you are rolling in first month's payment or not. You could buy a $35,000 MSRP Flex for $28,000 or less. Invoice is around $33,000. Knock a minimum of $1,500 off invoice. Then add the $4,000 in rebates. You are at $27,500 easily. Add 7% sales tax to that and you are financing only $29,425. Payment would be around $495. Basically, there is no point in leasing it if the payment is the same. 4. If you can't save at least $100 a month leasing vs buying. BUY IT.
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Replying to: Car_man (Mar 10, 2009 2:32 am) What are the current numbers for a 2009 Ford Flex SEL AWD, 36 month, 10,500 per year in the Omaha, Nebraska area? My local dealer has been quoting me some crazy numbers. Sale price on MSRP $35,410 is down to $26,256 but lease rate is way too high.
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Replying to: chuck68516 (Mar 11, 2009 11:24 am) Didn't know you could completely waive the security deposit on all leases. Are you sure about that? I know they sometimes waive it across the board during certain promotions. Wear Care is a joke and I agree with you there. The finance guy always gets mad after I tell them "No" to that waste of money. How much do they make off of that package anyway? Your state is one of the few that leasing makes literally zero sense. There are a lot of things in this state that don't make sense. That's one of the least of our worries! You could buy a $35,000 MSRP Flex for $28,000 or less. Invoice is around $33,000. Knock a minimum of $1,500 off invoice. Then add the $4,000 in rebates. You are at $27,500 easily. Add 7% sales tax to that and you are financing only $29,425. Payment would be around $495. Basically, there is no point in leasing it if the payment is the same. I disagree. I lease because I only want the vehicle for 3 years or less then I want something new. The payments are still lower when leasing and I'm not trying to trade it back in and take a loss every 3 years. We did that twice and are now set on leasing because it keeps both my wife and I sane.  Also, I'm not sure where you got those numbers. The rebates on a Flex right now are only $3000 here and using a 6% interest rate, which is a pretty reasonable rate right now for good credit IIRC, for 60 months the payment is roughly $588 per month after tax. What rate were you using? Ford won't give you the $3000 and their special rates right now. So even if it were about getting the lowest payment your financing example doesn't seem to work either. I see your point and totally agree with most of it, but I still have yet to find anyone who can lease for less than what I was quoted. I'm not sure if you're $375 per month lease for a Flex SEL was a typo or what but I would have to say that payment is impossible to arrive at without cash down. The rebate for leasing here is $250 and you would need to somehow get $6000 off of a base SEL AWD to get an out the door payment of $375 per month for 39 months  10,500 miles per year. That's with PA 10% tax but does not inlcude any fees, payments, or any other monies. If someone can explain how to do that I'm all ears. I can see $3000 off but not $6000. Even without the PA tax you still need $4750 off to get a before tax payment of $375. Base 2009 Flex SEL AWD MSRP: $34,950 (includes D&D) Lease rebate: $250 Interest rate: 2.0% Residual: Unknown and I doubt they will haggle with this right now even if they could Invoice should be easy to get. Possibly lower if you work at it. But invoice is, like you said, around $33000 (X-Plan site says about $32,800 IIRC). That's a far cry from the $29k you need to get to for the $375 per month. I'm sure I'm not willing to go toe to toe with a dealer for that. I'm also sure I'd never get it. I can't recall anyone I know ever getting lower than invoice on anything either. Ever. That's not to say it doesn't happen elsewhere, just not the norm around here from what I've seen and heard. |
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Wear Care is 100% profit. They don't even ever look at my leases when I return them. Don't get it. It's like getting the extended warranty on a toaster. I was basing financing quotes off 72 months. Who would get a 60 month loan for over $25,000? The rates for 60 and 72 are pretty much universally equal. You just get to divide it into 12 more payments. You are only paying like $250 total more interest after 3 years of the loan and your payment is $70 less. It's smarter to get the 72 month loan for the same rate and pay a little extra on it if/when you can. Ford should not post MSRP or even Invoice. Fair Market Value is the number they need to put on every car. I have never known anyone, including myself of course, who have ever paid OVER invoice. Most of the time I have gotten at least $2,000 under invoice (not including rebates). $500 under invoice should be the absolute minimum price on any widely available vehicle from any manufacturer. By minimum price I really mean worst case scenario. You are at least getting $500 off invoice. The dealers don't even pay invoice price for the car. Then there's the dealer holdback, numerous manufacturer to dealer incentives, rebates, advertising fees. It's crazy to think that after getting $5,000 off MSRP they are actually still making thousands but it's TRUE. If you don't think you can get way, way under your beloved X-Plan, look at the previous poster. Chuck is at $26,000 on a $35,000 SEL. That's $9,000 off instead of your $2,000. You keep asking the same questions and I keep answering them. We will just have to agree to disagree. Out.
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Replying to: djhalptert (Mar 17, 2009 9:46 pm) I can just as easily say I'm down to $20k on an SEL. I'm not seeing any proof and finding what you guys are saying very hard to believe regarding lease selling prices. They have to be giving him the financing rebates which I've never heard of on a lease. Wear Care is 100% profit. They don't even ever look at my leases when I return them. Don't get it. It's like getting the extended warranty on a toaster. I never get it because it seems totally ridiculous. However a 3rd party inspector does look at the vehicles before they are turned in and it's mandatory. How closely they look at it is another story. I was basing financing quotes off 72 months. That was chuck68516 that gave those numbers I was questioning. Are you two the same person? I have never known anyone, including myself of course, who have ever paid OVER invoice. See, that's where region comes into play. Supply and demand are probably completely different where you live. It's crazy to think that after getting $5,000 off MSRP they are actually still making thousands but it's TRUE. I don't doubt that. However getting them to reduce the selling price to that point is not as simple as asking for it at any dealer in any part of the world. You keep asking the same questions and I keep answering them. See the problem is, I never asked any of the questions you guys were so quick to answer. I do know what kinds of deals are available in this region and I take advantage of them when I can. All I wanted to know originally was what the lease loyalty rebate was all about. |
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Replying to: chuck68516 (Mar 13, 2009 6:24 pm) Checking cars.com shows nothing on leases in zip 68516 or any other Omaha zip code. I noticed the rebate is $4500 in your zip. That's $1500 more than what it is here but we do have lease offers through Ford here.
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Replying to: baggs32 (Mar 18, 2009 9:02 am) On a regular purchase, zero down payment would be $470 rolling sales tax of 7% into the loan. Only a $35 difference. I'll try to work one hour of overtime per month to cover it. |
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Car Man, Considering the lease of a 2009 Flex SEL FWD with Auto-fold seats, Sync, roof rails - MSRP of $34,090. Looking at 36 months, 15,000 miles per year, $2,000 down. One comment - we were negotiating a purchase of a Flex SE with an MSRP of $30,400 and the dealer, with just a phone call and virtually no haggling, dropped the price to $23,600. So I'm assuming, since their Flex inventory is simply not moving, that they'd be willing to offer a similar discount off MSRP for the SEL, which would mean a cap cost of roughly 27,500. What am I looking at for an APR and a residual? Thanks.
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Replying to: jwinter65 (Mar 11, 2009 6:02 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: chuck68516 (Mar 13, 2009 6:24 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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