Lease Question

[GunRunner]

I am new to the forums and my wife and I are thinking about leasing a 2013 Sport in White Platinum Tri Coat with the 402a package, dual panel moonroof and tow package. The MSRP of the vehicle is $48,565 and we are trying to figure out a decent price to get the vehicle for and a good monthly payment. We have never leased before so I trying to figure out what would be a good price to get the dealer to come down to. I would prefer to sty at or under $2000 as out of pocket money towards the lease. Can anyone with lease knowledge tell me what a realistic monthly payment would be on the vehicle above? I've tried to research leases but it still does not make sense to me. Thanks

 

[Bill #5 Explorer]

Oh well, I'll say it.

If you can't pay (cash) for it, don't buy it.

 

[peterk9]

I am new to the forums and my wife and I are thinking about leasing a 2013 Sport in White Platinum Tri Coat with the 402a package, dual panel moonroof and tow package. The MSRP of the vehicle is $48,565 and we are trying to figure out a decent price to get the vehicle for and a good monthly payment. We have never leased before so I trying to figure out what would be a good price to get the dealer to come down to. I would prefer to sty at or under $2000 as out of pocket money towards the lease. Can anyone with lease knowledge tell me what a realistic monthly payment would be on the vehicle above? I've tried to research leases but it still does not make sense to me. Thanks

Welcome to the Forum GunRunner.:wavey:
I'm assuming you are in the U.S. prices there seem to be quite a bit less than here in Canada. My 2011 Limited was just over $50k. I put 10k down and got my lease rate down to 3.49 by putting in a $6250 refundable security deposit and I'm paying $573/month which includes 13% tax. It's a 48 month lease.
From comments I've received before, I'm sure you can do much better in the States.
Good luck.

Peter

 

[NEWPORTNJ]

I live in nj and i got a 2011 explorer ltd 302apkg and i have a 36 month lease and i py 523.00 per month with just the taxes out of pocket. And what bill says about paying cash no one today pays cash for a car everyone goes in with the minimum down has possible because money in my pocket does more than in someone elses pocket. Even warren buffet say what i say trust me..

 

[billyg900]

I used this loan lease calculator, make sure you click on the money factor and residual part and get the correct numbers for those boxes
http://www.cars.com/go/advice/financing/calc/loanLeaseCalc.jsp
you should try to get around 3000 off sticker
go on overstock.com they have an auto section that will connect you with a local dealer that will honor their price which is usually a pretty good price

bill the reason that any ford explorer is even close to 50,000 dollars is because of the interest rates and longer loan terms....

 

[GunRunner]

Thanks for the information and thoughts. I am in the states, I'm in Ohio. The reason I don't want to purchase is because I get tired of my vehicles after about 2 to 3 years. That is why I figured if I could do about $2000 down with a decent monthly payment, it would be just as good as buying and I won't have to deal with the hassle of owning the explorer if I get tired of it.

 

[frankiepots]

2013 explorer sport msrp. 49800
0 down
10k /yr
$522/month

 

[twinturbo]

Thanks for the information and thoughts. I am in the states, I'm in Ohio. The reason I don't want to purchase is because I get tired of my vehicles after about 2 to 3 years. That is why I figured if I could do about $2000 down with a decent monthly payment, it would be just as good as buying and I won't have to deal with the hassle of owning the explorer if I get tired of it.

Go to truecar.com and put together your car and then add all rebates that apply to you and that should be your target price. The lease rates (Money Factor) depend on your credit. I just got .00125 or .25% interest for 36months. Your residual should be around 57% for 3 years 10k miles a year. I asked for 15k miles a year so I have a Residual of 55%.

In the State of VA Ford requires you pay your property taxes with your lease payment. This varies by state.

My deal
$49400 MSRP
Negotiated price or cap cost $43500 includes freight and all rebates
MF .00125
Residual 55%
36 months
15k miles a year
$2100 out of pocket, $1500 for sales tax and first payment $600

Payment $525 or so for the lease and $70 a month for property tax total $600 a month.

 

[socalsportgirl]

I just picked up a 2013 Explorer Sport with 402a, tow package, dual moonroof, captains chairs and rear DVDs -- MSRP was $50,895 I think. I paid nothing out the door, 10k miles a year, 36 months, and my payment is $529/mo. plus tax.

 

[182RG]

10K miles a year? That's 800 miles a month...200 miles a week. Unless its a second vehicle, what can you do with 200 miles a week? Wow...

 

[twinturbo]

10K miles a year? That's 800 miles a month...200 miles a week. Unless its a second vehicle, what can you do with 200 miles a week? Wow...

thats what I'm thinking.

 

[steve04KU]

My sticker was around 48,800. I had 6K equity on my trade in. Decided to do a lease.

Paid 0 down, 0 for TTL. Walked out of the dealer paying my first month's lease payment. $422/month

12K/year 36 Months

Realistically, depending on your credit you'll be looking at a lease payment of 500-550 a month. Assuming you have no trade-in.

 

[blichy]

Go to truecar.com and put together your car and then add all rebates that apply to you and that should be your target price. The lease rates (Money Factor) depend on your credit. I just got .00125 or .25% interest for 36months. Your residual should be around 57% for 3 years 10k miles a year. I asked for 15k miles a year so I have a Residual of 55%.

In the State of VA Ford requires you pay your property taxes with your lease payment. This varies by state.

My deal
$49400 MSRP
Negotiated price or cap cost $43500 includes freight and all rebates
MF .00125
Residual 55%
36 months
15k miles a year
$2100 out of pocket, $1500 for sales tax and first payment $600

Payment $525 or so for the lease and $70 a month for property tax total $600 a month.

Not to get off-track, but a lease factor of 0.00125 equates to 3.00% (multiply by 24 for the corresponding interest rate).

 

[twinturbo]

Not to get off-track, but a lease factor of 0.00125 equates to 3.00% (multiply by 24 for the corresponding interest rate).

you are right. In my paper work and what I negotiated it came out to be 0.25% which was almost nothing. I'm not sure of the MF equation sorry. I got that MF from my initial research from the dealers numbers.

 

[FordService]

I am new to the forums and my wife and I are thinking about leasing a 2013 Sport in White Platinum Tri Coat with the 402a package, dual panel moonroof and tow package. The MSRP of the vehicle is $48,565 and we are trying to figure out a decent price to get the vehicle for and a good monthly payment...

Hey GunRunner,

If you haven't already, I recommend reaching out to our Marketing Program Headquarters at 1-800-334-4375. They can fill you in on all the available incentives in your area.

Crystal

 

[77rednecktruck]

I traded in my 2011 Grand Cherokee hemi and leased my sport at 13.5K miles/year and the price is $356/month, that is total with taxes and all other fees rolled in. sticker on the sport was 49xxx ( can't remember the exact number). Did not pay anything when I picked it up, just the equity from the jeep.

 

[twinturbo]

I traded in my 2011 Grand Cherokee hemi and leased my sport at 13.5K miles/year and the price is $356/month, that is total with taxes and all other fees rolled in. sticker on the sport was 49xxx ( can't remember the exact number). Did not pay anything when I picked it up, just the equity from the jeep.

You must of had a lot of equity in the Jeep... Why not cash out?

 

[Riley]

10K miles a year? That's 800 miles a month...200 miles a week. Unless its a second vehicle, what can you do with 200 miles a week? Wow...

I live 3 miles from work and I do the 10,500 miles a year and am still way under. I use about 400 a month if I'm lucky.

 

[steve04KU]

I live 3 miles from work and I do the 10,500 miles a year and am still way under. I use about 400 a month if I'm lucky.

I hear ya. I traded in my 2007 Hummer H3. It was my daily driver and had 33,000 miles on it. Got it in Jan. 2007. Had it 6yrs/2mo.

 

[converted_21]

I hear ya. I traded in my 2007 Hummer H3. It was my daily driver and had 33,000 miles on it. Got it in Jan. 2007. Had it 6yrs/2mo.

Daaang! I wish we only drove that much...