Sport LEase...Good Deal?

[LifeForFord]

So first off...thanks to any and all who read and respond. I've been an Expedition owner for the last 11 years but am switching to an Explorer Sport because I am wanting something a bit smaller and more bada** looking. Going with the black on black pretty much fully loaded (and can't wait for it to get here). Anyway...

I've always bought but this time I think I talked into leasing because I have low miles (11-12k per year), don't plan to keep it for more then 4 to 5 years tops (even if I bought) and live in MI where the taxes are more favorable towards leasing. So here's the deal they have given me, please let me know if you feel I am getting a solid or getting screwed (I don't take offense so be honest)...

2013 Explorer Sport
$49+k Sticker
Z Plan so just a few bucks shy of $45k
Trading in a 2010 Expedition Ltd (owe 26k valued about 31k)

$485 per month
36 months
15k miles per year
$500 to the table from me
Check for $5k to me from them

I don't know all the %'s and such (which is my fault reading other forums) but on the surface, does it add up?

 

[blichy]

Sounds like a fair bit of support in the payment you are getting. If they are giving you the $5k back and not using it as down payment, sounds pretty good.

 

[alexk]

Your getting z plan..there is no better price than that. Your getting a good deal..the only way to get a lower payment may be to go to a 39 month lease because of the residual but I can't remember if it makes that big of a difference on the sport or not.

 

[Burns]

Any lease is a bad lease.

Buy. Buy. Buy. Its the only good math.

 

[sport97]

Any lease is a bad lease.

Buy. Buy. Buy. Its the only good math.

I'd have to agree. I was doing math in my head the other after looking at the used prices of 4-5 yr old tacoma 4x4s compared to their new prices. You could buy one, drive it for 4-5 years and 60k and still sell it for 8k or less than you paid full price. Surely that is cheaper than leasing one. Plus it is yours and you can modify and whatever.

 

[SHOSUV]

My lease deal

Looks like you got a few more options than i did, but it's close...

Sticker $48,410
Negotiated Price $42,497
Down Payment / Amount due at signing - $393
24 Month Lease 15K/yr - $475/month

 

[Mello944]

So I'm looking to end my 2 year lease on my fully loaded XLT. I found a bunch of 2013 Sports still in stock, so today I emailed a few dealers. One responded with $3000 down and $599 a month on a 36 month lease. Another called me with no numbers but gave me a phony chuckle when saying I should be prepared to pay more than my XLT. I would love the deals LifeforFord or SHOSUV got, and would certainly think I could get it 7 months later now that the 2014s are out. Should I let these guys have it or try another dealer? Should I send them the link to this thread? I'm looking in NYC and SW Florida since I reside in both and will be in both places in the coming week.

 

[Sgt1411]

So I'm looking to end my 2 year lease on my fully loaded XLT. I found a bunch of 2013 Sports still in stock, so today I emailed a few dealers. One responded with $3000 down and $599 a month on a 36 month lease. Another called me with no numbers but gave me a phony chuckle when saying I should be prepared to pay more than my XLT. I would love the deals LifeforFord or SHOSUV got, and would certainly think I could get it 7 months later now that the 2014s are out. Should I let these guys have it or try another dealer? Should I send them the link to this thread? I'm looking in NYC and SW Florida since I reside in both and will be in both places in the coming week.

I would keep shopping, I know the SPORT is in demand and dealers can afford to be a little ****y but that seems a little steep. There are several members here that have good deals from their dealers, check the previous threads on purchase prices.

 

[blwnsmoke]

So I'm looking to end my 2 year lease on my fully loaded XLT. I found a bunch of 2013 Sports still in stock, so today I emailed a few dealers. One responded with $3000 down and $599 a month on a 36 month lease. Another called me with no numbers but gave me a phony chuckle when saying I should be prepared to pay more than my XLT. I would love the deals LifeforFord or SHOSUV got, and would certainly think I could get it 7 months later now that the 2014s are out. Should I let these guys have it or try another dealer? Should I send them the link to this thread? I'm looking in NYC and SW Florida since I reside in both and will be in both places in the coming week.

Considering I'd technically be paying the same as you for a loan, that is ridiculous. I'm paying $658 a month to own it with no money down on a limited. With $3,000 down, I'd be right at $599 a month. That is a ridiculous lease rate in my opinion.. Leasing is supposed to be cheaper then owning.

I know it is a Sport but the sticker of a loaded limited and sport are very close to each other.