2016 Mustang Lease Calculation vs Reality Difference

Ask the Hackrs
1

Hi, I just got the residual value and money factor from cars.com for 2016 Ford Mustang Ecoboost Premium, for 24 months lease. The calculation gave me roughly $350 a month for my lease but no matter which dealer I speak to, all of them give me $450-500 monthly payments for the exact same variables. Are there any other variables that the dealers are taking into account or am I missing something? Giving the numbers and the car I am looking for below;

http://www.koonsbaltimoreford.com/new/Ford/2016-Ford-Mustang-baltimore-maryland-0ad84ee20a0e0ae867b7b79b7d54a633.htm

MSRP: $32,540
Sales Price: $25,864
Down payment: $2,000
Miles/yr: 15,000
Residual: 61%
Months: 24
Money Factor: 0.0028
Sales tax: 9

Thanks in advance.

1 Like
2

$316/mo incl. tax with all fees, title & registration due at signing.

3

So how come all the dealers give me 400s in payments? Any idea?

4

Don’t know. If you roll everything in - it could be close to $400. Also - you should not put $2K down as a cap cost reduction, so with true $0 due at signing, you’d be close to $450. That MF sucks, BTW.
But you never ask dealers for a lease payment. You tell them what it should be after doing your homework. Then you find one who will work with you.

5

Thanks for the advice, will try to talk to them again tomorrow.

6

You forgot the tax title doc and acquistion fees. These can be an extra 2 k, so would easily add $80 to lease

7

The MF is equivalent to 6.72%. Surely the base MF could not be that high and the dealer is marking it up on you.

That is a very nice discount. Is there any incentives in that discount?

8

There is a $750 tax deductible incentive for financing. It drops down to $250 actually if you lease. By the way just learned that the APR is 3.5%.

9

No idea where cars.com gets their data; here are the numbers for 2016 Mustang EcoBoost Premium in NJ (Ford Credit). It’s consistent with what you’ll get from the Ford.com calculator:

24/15K: 60% residual, 1% APR (.00042 MF), $250 lease cash
Targeted: $500 Grad, $250 RCL Renewal/Conquest Lease, $500 Military/First Responders

The best TrueCar offer I see in your area is $3,000 off MSRP before incentives. After plugging those numbers into the lease calculator, I get $420/month + tax and $0 down + drive-off fees. Not the best lease, to be honest.