My Dealer Pick-up experience

[bbag88]

So... explorer arrived last night.... got a call this morning that the delivery would be delayed... the truck/explorer driver slashed the tire backing ooff of the truck!

The soonest they could get me a new tire is tomorrow... so I will have to wait another day...

The dealer did do a few nice things to make up for it and so not all is lost!

Final deal was...

Limited with 301A, Trailer Tow, Bucket seats/console, crossbars... MSRP of $41,535...

36 month lease/ 12,000 miles

$8500 down, $324 a month, with $1500 in rebates....

Not too shabby... once we are driving it tomorrow that is!

 

[Bucho]

Wow that's crazy! At least they only delay 1 day. $8500
down on a lease is equally crazy

 

[bbag88]

Bucho...


Being a first time leasee... Why, in your opinion, is putting $8500 down a crazy idea?

 

[jackey]

Blake..hope all goes well with pick up today.

Does seem like an awful lot of money down on a lease--money you will not get back. I haven't leased in years, not a fan of it, but understand why some folks do it.

I found this on Ford's website:# $333/mo
# 24 months lease,
# $3828 due at signing

Now that may be a base model....

 

[bbag88]

I just figured that with a lease I am going to pay off $20,000 of the car in 3 years... I could either give them all $20,000 as a down payment and have no monthly payments... Give them nothing down and have $575 - 600 payments or split the diffeence... any way you slic eit you're out $20,000 at the end of the 3 years... then you can do another lease or buy the car you've been driving... My price at the end of the lease is about $22,000.

 

[new to ford]

Bucho...


Being a first time leasee... Why, in your opinion, is putting $8500 down a crazy idea?

I believe the main issue with putting a large amount down on a lease has something to do that in the event the vehicle is totalled, it is very difficult to get the down money paid back by the insurance company, I am going off of memory from some discussion going on several years ago in a different forum, so I could be mistaken...

 

[safn1949]

Leasing a vehicle is the most expensive way to own...bar none.The dealer make a fortune leasing.

 

[drober30]

I just figured that with a lease I am going to pay off $20,000 of the car in 3 years... I could either give them all $20,000 as a down payment and have no monthly payments... Give them nothing down and have $575 - 600 payments or split the diffeence... any way you slic eit you're out $20,000 at the end of the 3 years... then you can do another lease or buy the car you've been driving... My price at the end of the lease is about $22,000.

$8500 down on a lease did seem crazy when I read it but you are right the way you explained it.

Bottom line is nice vehicles are really expensive.

$20k at the end of your lease will probably be a good deal. It's also a good way to have a fair payment for a few years, buy the vehicle at the end of the lease it its a good vehicle and still have decent payment to pay it off.

My brother just bought his Explorer ant the end of his 3 year lease and the price he paid was way below what they were going for used. So it can be a good deal some times.

 

[Bucho]

'Most' people lease to get into a car they may not be able to afford outright, or get bored easily, or think of it as a way to justify owning a depreciating asset. You sound like you're open to buying the vehicle at the end of your lease term in which case putting so much 'down' on something like that makes some sense. I'm not saying it's wrong per se either way - just that leases are a way people get into vehicles with the least out of pocket expense.

 

[robpco]

Leasing a vehicle is the most expensive way to own...bar none.The dealer make a fortune leasing.

We've been leasing cars for years and always do the math, it makes sense for us. We like to drive a new car every three years, so leasing is perfect. But, it only makes sense if you lease a car that has a residual value i.e high resale value at the end of the lease, BMW, Acura, Lexus. Since american cars have had such low resale value in comparison over the years, they have been terrible lease candidates. That will change with Ford making high quality cars though. Since we plan to keep our EX for a longer we bought it. But I will continue to lease my other car. I like new cars

 

[NEWPORTNJ]

Well putting 8500 down to its crazy but to each its own, i lease for many reasons 1, car gives me issue i say good bye to it 2, i get board of cars fast 3, i like new car every 2 to 3 years, i have leased about 8 cars. 1998 windstar.2002 eb explorer 2005 freestyle it sucked 2006 eb explorer 2008. Cts4 cadillac, 2011 ltd 302a explorer. Now waiting to see what will i get next. Not braging just enjoying life and what i like cars food and vacations!! I PUT 3000 DOWN FOR THE 11 EX AND I PAY 500 PER MONTH !!!