• Register Today It's free! This box and some ads will disappear once registered!

My dealer is up to it again

BrianT

Active Member
Joined
April 4, 2013
Messages
149
Reaction score
18
City, State
Ottawa, Ontario
Year, Model & Trim Level
2021 Explorer ST
I got a call from my dealer yesterday, he wants to trade my 2106 Sport in for a 2017 Sport with a $20.03 less payment.
I lease my Sport, and this is the 2rd time I have the call. My last ride was a 2013 sport and in Sept 2015
I received the 1st call drove in with a 2013 Sport and drove out with a 2016 Sport.
I have had this ride for 18 months 54000km will be picking up a Silver 2017 Sport end of next week
Just got to love sales targets.:thumbsup:

Brian
 


Join the Elite Explorers for $20 per year. Gets rid of the ads! New $5 per month "try out" option.

Explorer Forum has probably saved you that much already, and will continue to save you money as you learn how to diagnose fix problems yourself and learn which modifications work without having to experiment on your own. Elite Explorer members see no advertisements, no banner ads, no double underlined links, can add their own profile photo, upload photo attachments in all forums, and Media Gallery, create and save more private Conversations, and more. Join Today. Your support is greatly appreciated.




peterk9

Staff member
Moderator
Elite Explorer
Joined
December 28, 2010
Messages
29,472
Reaction score
1,950
City, State
Russell, Ontario (Ottawa area)
Year, Model & Trim Level
2020 Aviator Reserve
Callsign
VE3
I know this scenario. Dealer wanted my 2011 Limited back after 3 years of a 4 years lease. Vehicle has 18,000 km on it and they had a buyer for it. Took a 2014 MKT out of the showroom on a 3 year lease and they called after 2.5 years asking if I was still interested in getting back into an Explorer. Now have the 2017 Platinum on a 4 year lease so I asked them if I could expect a call after 3 years and they said yes.:D

Peter
 




1995E

Well-Known Member
Joined
July 16, 2010
Messages
1,860
Reaction score
54
City, State
Maryland
Year, Model & Trim Level
95 + 11 Ex both XLT
I know this scenario. Dealer wanted my 2011 Limited back after 3 years of a 4 years lease. Vehicle has 18,000 km on it and they had a buyer for it. Took a 2014 MKT out of the showroom on a 3 year lease and they called after 2.5 years asking if I was still interested in getting back into an Explorer. Now have the 2017 Platinum on a 4 year lease so I asked them if I could expect a call after 3 years and they said yes.:D

Peter

That would be in time for a redesigned Explorer. :O
 




peterk9

Staff member
Moderator
Elite Explorer
Joined
December 28, 2010
Messages
29,472
Reaction score
1,950
City, State
Russell, Ontario (Ottawa area)
Year, Model & Trim Level
2020 Aviator Reserve
Callsign
VE3




ALDrums

New Member
Joined
April 22, 2016
Messages
10
Reaction score
2
City, State
Phoenix, AZ
Year, Model & Trim Level
08 Expedition Limited EL
Sounds like a great deal to me! How do you get into a lease situation like that, and generally, what is the cost up front/monthly/total? I'm looking into getting into an Explorer in the next year or so. I've been working on fixing my credit, so hopefully soon it'll happen!
 




peterk9

Staff member
Moderator
Elite Explorer
Joined
December 28, 2010
Messages
29,472
Reaction score
1,950
City, State
Russell, Ontario (Ottawa area)
Year, Model & Trim Level
2020 Aviator Reserve
Callsign
VE3
Sounds like a great deal to me! How do you get into a lease situation like that, and generally, what is the cost up front/monthly/total? I'm looking into getting into an Explorer in the next year or so. I've been working on fixing my credit, so hopefully soon it'll happen!
Welcome to the Forum.:wave:
Not sure to which post you are responding.
A lease is basically the same as buying except that you only pay for part of cost of the vehicle and the taxes for the length of the lease. At lease end you turn the vehicle back to the dealer. You also have the option of buying it at a price determined when the lease is taken out. If you plan on buying it then you're better off doing that instead of leasing since it will cost you more. You have the option of a down payment if you wish and your monthly payments are based on what your amortized total is over the length of the lease minus any down payment. The Platinum I'm driving now is my 7th consecutive lease. Mine are all very, very low mileage and the dealer knows that so that is one reason they like to get mine back to either put on the lot or one time they already had a buyer lined up for my 2011 Limited.

Peter
 




BrianT

Active Member
Joined
April 4, 2013
Messages
149
Reaction score
18
City, State
Ottawa, Ontario
Year, Model & Trim Level
2021 Explorer ST
Sounds like a great deal to me! How do you get into a lease situation like that, and generally, what is the cost up front/monthly/total? I'm looking into getting into an Explorer in the next year or so. I've been working on fixing my credit, so hopefully soon it'll happen!

The sticker price was $58079.00 CND the Lease price after discount is $52734.98 CND the buyout at the end of the 36 month lease is $26716.34 cnd my monthly payment with interest,13% Tax is $850.xx cnd with zero downpayment.
As its a business vehicle I get to write the payment off as an business expense.

My dealer told me to expect a call anytime after Sept 2018 to see if I want to carry on with the one I have or get a new one for around the same payment.
Lets see what happens in sept 2018.

Brian
 




613GT500

Well-Known Member
Joined
September 28, 2015
Messages
1,528
Reaction score
107
City, State
Ontario, Canada
Year, Model & Trim Level
2016 XC90 T8 R-Design
Sounds like a great deal to me! How do you get into a lease situation like that, and generally, what is the cost up front/monthly/total? I'm looking into getting into an Explorer in the next year or so. I've been working on fixing my credit, so hopefully soon it'll happen!
Negotiate a high residual and you've got a deal, otherwise you're paying more than half of the total cost of the vehicle; when returning it in after the term is up.

Dealers love to get buyers into a lease and unless you decide to switch modes of transportation, they'll continue to get you into a vehicle for life $$$...as can be seen in Peter's experience.

Advantages are getting to drive a new vehicle every couple of years and not worrying about repairs; provided you're leasing within the bumper to bumper warranty period.

Disadvantages is self explanatory.
 




peterk9

Staff member
Moderator
Elite Explorer
Joined
December 28, 2010
Messages
29,472
Reaction score
1,950
City, State
Russell, Ontario (Ottawa area)
Year, Model & Trim Level
2020 Aviator Reserve
Callsign
VE3
Negotiate a high residual and you've got a deal, otherwise you're paying more than half of the total cost of the vehicle; when returning it in after the term is up.

Dealers love to get buyers into a lease and unless you decide to switch modes of transportation, they'll continue to get you into a vehicle for life $$$...as can be seen in Peter's experience.

Advantages are getting to drive a new vehicle every couple of years and not worrying about repairs; provided you're leasing within the bumper to bumper warranty period.

Disadvantages is self explanatory.
The residual is predetermined at the beginning of the lease and can at times actually save you some money at lease end if the going price for a similar used vehicle is higher than the residual. I had that happen with my 2011 and one of the Highlanders. You always have the option to sell it privately and apply any 'profit' to the next lease.
The decision to start leasing was mine back in 2001 when I got the first of three Highlanders. I like to change vehicle every 3 - 4 years. If I keep the vehicle to lease end I also save over $3300 in sales tax vs buying. My interest rate is 1.49% paid on only a portion of the vehicle cost. Leasing isn't for everyone but I like it even though I could have easily paid cash for it.

Peter
 




alexleblanc

New Member
Joined
December 30, 2016
Messages
26
Reaction score
17
City, State
Moncton, NB
Year, Model & Trim Level
2017 Ford Explorer Sport
dealers are overly eager to sell new cars right now, I got a fantastic deal on my new F350 that I have on order.
 




Forddealz

Active Member
Joined
December 2, 2015
Messages
686
Reaction score
69
City, State
NY
Year, Model & Trim Level
2020 Ford Explorer ST
The sticker price was $58079.00 CND the Lease price after discount is $52734.98 CND the buyout at the end of the 36 month lease is $26716.34 cnd my monthly payment with interest,13% Tax is $850.xx cnd with zero downpayment.
As its a business vehicle I get to write the payment off as an business expense.

My dealer told me to expect a call anytime after Sept 2018 to see if I want to carry on with the one I have or get a new one for around the same payment.
Lets see what happens in sept 2018.

Brian

Dealership is making money with a deal like yours. Getting a 50 - 60 percent for you to pay, 22-26K pay for what, 3 years and then calling you to get almost the same truck but 1 year newer is a perfect business tactic. I still remember when Ford used to get me the same awesome deal for 2 years of leasing Ford Edge Sport but now its more expensive. I know its normal to get out of lease 3-6 month before your term but getting out of lease after 1 or so years will sure involve much more money transactions.
I used to work as a visiting physical therapist and deducted my car expense, lease and gas or lease and millage for years of deduction until all of a sudden I lost my job and found an office based job and thus I cannot deduct my car expense any more for now.
 




Forddealz

Active Member
Joined
December 2, 2015
Messages
686
Reaction score
69
City, State
NY
Year, Model & Trim Level
2020 Ford Explorer ST
dealers are overly eager to sell new cars right now, I got a fantastic deal on my new F350 that I have on order.

Yeah, might not even need to print any coupons or discounts, 8 to 10% off from MSRP, wright at invoice or no deal. At least 4-5K off. Don't even settle for less even if the dealership is selling at invoice they will still make $500-$1000 or more in rebates directly from Ford.
 




Top