are you leasing or financing?

[SWEET ST]

Vehicle cost 61k I got it for 51k paid takes on the lease i pay 550.00 for 36month. 0%
interest

 

[metroplex]

Online quotes from the MI dealers show $800/month lease on Explorer ST, 12,000 miles a year, $0 down, X-Plan, excellent credit. They want $1100/month for 60-months 0% APR, X-Plan. $60k cash out the door.

F-150 Lariat w/ 502A, SCAB, 3.5L EcoBoost, same parameters above $664/month lease, or $60k cash out the door.
Depreciation on the Explorer, Escape, and Edge are at about 50% after 3 years while it is 40% for the F-150.

This is insane. I was able to lease my 2018 XLT for $380/month, I can't get close to that with a 2020 Explorer. I estimate that with the COVID19 discount and market recession coming up, they are going to have to slash prices big time to move anything.

 

[2020_Explorer]

Vehicle cost 61k I got it for 51k paid takes on the lease i pay 550.00 for 36month. 0%
interest

That's very good. What state has 0% money factor on a Explorer ST lease?

 

[SWEET ST]

That's very good. What state has 0% money factor on a Explorer ST lease?

NewYork

 

[Powerby50]

On a 61k ST, I paid 849 at signing and pay 644 a month on a 36 month lease. There was a 4500 dollar incentive when I got in September.

 

[LincolnAviFan]

$60k Explorer ST, $1K down, 39 month lease with 15k miles/year. $827/month (incl. tax).

Includes Tire Protection and Extended Warranty for duration of lease (incl. Rental) and they also paid off the two remaining payments on my prior Lincoln-lease (about $1,500 total). Vehicle was factory-ordered. Probably could have done a bit better by buying off the lot but I preferred paying a bit more and getting what I wanted and a recent build instead (I also have the feeling that I avoided some potential issues found on earlier builds). So far, everything is fine and my mother who is driving it enjoys it more and more every day. Coming from a MKZ Hybrid, I somehow saw that coming - LOL!

As far as build quality and accuracy, walking around the exterior, I have to say they did a great job. All gaps between the doors, hood and trunk are super accurate and balanced. Sure, the quality level of the materials is not the highest on the interior but again, nothing that jumps at you. Reading all the various posts prior to delivery, I'm positively surprised. Last but not least, it's black on black and with the red brake calipers, it might not beat the Telluride in overall value but it looks bad-ass and runs circles around the other vehicles in its class...Vrooooom!

 

[SWEET ST]

$60k Explorer ST, $1K down, 39 month lease with 15k miles/year. $827/month (incl. tax).

Includes Tire Protection and Extended Warranty for duration of lease (incl. Rental) and they also paid off the two remaining payments on my prior Lincoln-lease (about $1,500 total). Vehicle was factory-ordered. Probably could have done a bit better by buying off the lot but I preferred paying a bit more and getting what I wanted and a recent build instead (I also have the feeling that I avoided some potential issues found on earlier builds). So far, everything is fine and my mother who is driving it enjoys it more and more every day. Coming from a MKZ Hybrid, I somehow saw that coming - LOL!

As far as build quality and accuracy, walking around the exterior, I have to say they did a great job. All gaps between the doors, hood and trunk are super accurate and balanced. Sure, the quality level of the materials is not the highest on the interior but again, nothing that jumps at you. Reading all the various posts prior to delivery, I'm positively surprised. Last but not least, it's black on black and with the red brake calipers, it might not beat the Telluride in overall value but it looks bad-ass and runs circles around the other vehicles in its class...Vrooooom!

WOW. That is a lot of money. I have the same coverage and i pay $ 550.00 a month. Question why take extended warranty on a lease ? If you are covered by Geico or a mayor insurance company they offer warranty on you monthly premium. I also had mine ordered ( Special order). I get a loaner if i break down. For $ 829.00 a month i would have gotten the Aviator and still pay less. Sorry but, I have been leasing for over 20 years and i know very well the salesman lingo.

 

[LincolnAviFan]

WOW. That is a lot of money. I have the same coverage and i pay $ 550.00 a month. Question why take extended warranty on a lease ? If you are covered by Geico or a mayor insurance company they offer warranty on you monthly premium. I also had mine ordered ( Special order). I get a loaner if i break down. For $ 829.00 a month i would have gotten the Aviator and still pay less. Sorry but, I have been leasing for over 20 years and i know very well the salesman lingo.

Timing on this one wasn't on my side. There were only $1,250 in incentives available in March in my area. Getting an equally equipped Aviator for less than $827 with the same down-payment would not have been an option, either. I would LOVE to see such an offer in the Tampa Bay area. They simply don't exist. In addition, we did not want the luxury-version and preferred the sport-appearance of the ST. My vehicle is a BMW X7 and that's where the luxury is at.

I picked the extended warranty because I did not want to be in limbo after 30 months. That's when the factory warranty expires when you're driving 15k miles a year. I could have picked a third party warranty like an insurance company but they don't provide this coverage for free, either. In addition, I don't like the idea of having warranty tied to insurances which makes switching more difficult since not every company is offering these services and if you have a claim, dealing with the OEM product is always easier.

You got a very good deal on yours. I can assure you though that in Florida, such deals were NEVER available. In order to get the same payment as you got, I would have needed a discount of 21% off MSRP and still would have paid more due to the tire care, extended warranty and covered payments on my old lease. These three things add up to more than $100/month alone and I don't know if you leased yours with 15k miles/year, either. If you only leased for 12k, add another $30/month to the difference and I would be below $700, too.

Earlier in the MY, there were pretty high incentives out there - I believe incl. private cash, offers exceeding $4,000 - that would have been close to another $100/month off.

It's also a regional thing. As I said, forget about getting this vehicle in my area under the same terms for $550/month. Just like you can forget getting an Aviator for less than $800.

 

[peterk9]

2020 Aviator, MRSP $79,200. Lease cost $67,800. 48 month lease at 1.99%. $8k refundable security deposit from 2017 Platinum lease applied to the deal which saw the dealer also pay off the remaining 11 months ($9932 including tax) on the Explorer lease. Monthly payment rose from $799 to $835 including tax. No increase in vehicle insurance cost.

Peter

 

[SWEET ST]

2020 Aviator, MRSP $79,200. Lease cost $67,800. 48 month lease at 1.99%. $8k refundable security deposit from 2017 Platinum lease applied to the deal which saw the dealer also pay off the remaining 11 months ($9932 including tax) on the Explorer lease. Monthly payment rose from $799 to $835 including tax. No increase in vehicle insurance cost.

Peter

My Insurance did not go up neither. I pay through Geico for the 2020 st street pack and a 2018 Escape Titanium 2400 per year. That includes mechanical breakdown, rental, glass, road service. I have been with Geico for 18 yrs.

 

[LincolnAviFan]

My Insurance did not go up neither. I pay through Geico for the 2020 st street pack and a 2018 Escape Titanium 2400 per year. That includes mechanical breakdown, rental, glass, road service. I have been with Geico for 18 yrs.

Funny thing is that switching from the MKZ Hybrid to the Explorer ST actually caused our insurance premium to go down. Shows that in general, Hybrids tend to be more expensive to insure.

 

[metroplex]

The MKZ and Fusion are a lot more expensive to insure than the Explorer. I checked with my Insurance (Progressive) and to fully insure my 2018 XLT is the same to fully insure a 2020 Explorer ST.

 

[2020_Explorer]

WOW. That is a lot of money. I have the same coverage and i pay $ 550.00 a month. Question why take extended warranty on a lease ? If you are covered by Geico or a mayor insurance company they offer warranty on you monthly premium. I also had mine ordered ( Special order). I get a loaner if i break down. For $ 829.00 a month i would have gotten the Aviator and still pay less. Sorry but, I have been leasing for over 20 years and i know very well the salesman lingo.

Florida has very bad lease deal. I think right now the residual on a ST for 39M 15k miles is 48% with the MF between 2-3%. Like I said earlier you can 0% finance one for less than $100 a month difference. Keep in mind that's $4,250 lease rebates vs no rebates on 0%

 

[SWEET ST]

Florida has very bad lease deal. I think right now the residual on a ST for 39M 15k miles is 48% with the MF between 2-3%. Like I said earlier you can 0% finance one for less than $100 a month difference. Keep in mind that's $4,250 lease rebates vs no rebates on 0%

I did have rebates. from 61k to 51k

 

[metroplex]

I did have rebates. from 61k to 51k

What were your rebates? Even with X-Plan, military appreciation, and whatever incentives right now, the out the door (w/ tax etc) cash price is about $60k.

 

[SWEET ST]

What were your rebates? Even with X-Plan, military appreciation, and whatever incentives right now, the out the door (w/ tax etc) cash price is about $60k.

Xplan, Loyalty, Aviation magazine gave 1000.00 and some other stuff my Salesman found

 

[peterk9]

I pay almost the same with American Insurance, a little bit more, and I love their support managers, always know how to help in different situations.

Welcome to the Forum.

Peter

 

[RogueLifter29]

Went through our bank for everything.

50% down, got a nice 1.9% finance deal, paying it off in the next few months. Its our only debt (besides mortgage) and once done, im getting the new 2021 F150 current payment is $280/month, 60 months

 

[peterk9]

It really depends on your personal preferences and financial situation

Welcome to the Forum.
I just leased my 9th vehicle, a 2023 Aviator, in the past 24 years. Although I could have bought my vehicles, I prefer to lease since I like to change vehicles every 3-4 years and don't put many miles on them. The dealer usually gives me a good deal on prices because of the low mileage even going so far as to pay off a year's lease on my 2017 Platinum to get me into the 2020 Aviator. Also, since I'm about to turn 77, the lease is a good deal should the inevitable happen to me. The lease will be cancelled if the vehicle is returned and any monies owing are also cancelled.

Peter

 

[JAMADOR]

I'd look into leasing, but I put too many miles on, typically, for the residuals to be worth it.