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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: deejaybunk (Apr 10, 2009 11:08 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: baxterdown (Apr 11, 2009 5:20 am) Having said this, I'm not sure if this program is available in Florida right now. Ford has cut way back on the availability of leased through Ford Credit. I would not be surprised in the least if it was not leasing at all in your area at this time. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: amx (Apr 12, 2009 10:18 am) Ford is not currently providing any cash incentives on leases of this model. As a result, I doubt that you will be able to lease one for under invoice. Shoot for a capitalized cost of as close to invoice as possible. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Apr 22, 2009 2:43 am) 
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Hi, I got quotes from two dealers, for a Flex Limited FWD 15000miles a year for 36 months. One using Ford Credit and one USBank. Can you tell me what the residuals and rates are for either of these credit sources? Also the US Bank lease paperwork seems to have a $6000 rebate worked in (Ford offered me a $500 rebate) as well as "Capped Fees" of $970. Not sure where these are coming from. My memory also tells me that US Bank has end of lease fees, and my guess is that it would be easier to get out of a Ford lease early if I needed/wanted to. Can you shed any light? Thanks.
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Replying to: Car_man (Apr 22, 2009 2:47 am)
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Replying to: yolanda4510 (Apr 22, 2009 6:25 am) US Bank has terrible money factors and residuals but so does Ford in most areas. One guy said his lease rate was 10% vs some areas that were at 0.75% through Ford. On my quote, US Bank lease rate was 7.1% which is really high for a lease. Ford Residual was around 45% and US Bank was only 40%. In summary, BUY THE FLEX. Don't lease it right now. You can easily buy a $35K Flex Limited for around $26,000 after all the rebates. Put the $2500 towards your sales tax and plates. You could get a 72 month loan at $26,000, 6% for a monthly payment of $430.90. 60 Month would be $502.65. Don't lease. Also you can claim all that sales tax on your 2009 Income Tax Return. Probably net you another $500 plus. PS: Pilot is the same way. Way smarter to buy it than lease it. If you're gonna lease a vehicle MSRP of over $30K the residual better be over 50% and the money factor needs to be less than 5%. |
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Hi: I am considering purchasing or leasing a 2009 SEL FLEX and can't make a decision. I can lease a 37,780 List Flex for $495.00 per month for 12,000 miles per year for 39 months or purchase a Flex with -0- % for $605.00 per month for 60 months. Total out of pocket is $1750.00 and selling price is $35,400.00. Is either a fair deal? Any ideas? Thanks, JON
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Replying to: vandyman4 (May 02, 2009 8:34 pm) Are the numbers you posted yours? Or are they a dealer quote? Also, they seem to be mixed between lease and buy. If the numbers are from a dealer, they look a bit high. Here are the numbers you need to post to make sure everything adds up: ON A LEASE MSRP Negotiated Price Money Factor (Interest Rate) Term (How many months) Residual ON A PURCHASE MSRP Negotiated Price Interest Rate Term (How many months) Down Payment (if any) I was on the same boat you are. And, after doing numbers up and down it turned out that leasing was not an option. If you see my post asking Car_Man for lease rates, you'll see he answered that Ford may not be leasing in my area. When I went to get my car, I found out that Ford is leasing (and others are too) but the lease rates are terrible. So, in my case, it made a lot more sense to buy. By the way, there is another post (a few posts up) from someone talking about financing for 72 months. That might be a good option. That extra year and the $1,750 out of pocket you were planning to pay on a lease might be enought to get you to your calculated lease payment. Here are a few other things to consider: - If you get the 0% financing, Ford Motor Credit will require you to carry gap insurance. When everything is said and done, this is not a good option. You are better off taking the $3,000 rebate. - Ford Motor Credit is offering a $1,000 rebate. It's useless. FMC's finance rates are terrible. If you have good credit, you are better off financing through a bank or credit union at around 5% for 72 months. - Dealers are DESPERATE. You should not pay (before any rebates) a penny more than invoice. Many dealers are even willing to sell cars for holdback (an additional profit built into invoice price) just to move cars. Click here for the 2009 Flex dealer price list. It will help you add the base cost and options on the car you want. That way you will know if there is more room for negotiating. Good luck!
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Replying to: baxterdown (May 03, 2009 4:05 am) It turned out that Ford was leasing in South Florida but rates were a joke. So, I ended up buying the car. Also, FMC's finance rates are terrible. so the $1,000 rebate from them is useless. Thanks again sir. You're d-man!!! 
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