Looking to lease a 2020 Ford Explorer ST. The dealer quoted me with $800 tax included, no money down, tag and fees only. I feel that a dealer in a more competitive market could come down a little more, say South Florida. Thoughts?
MSRP: $59,280
Roughly $2,500 Discount
Interest: 1.6%
Residual: 53%
Months: 36
Miles: 15,000
Down Payment: $0 + tag (~$250)
Payment: $800/month tax in (IL)
No money down but $2500 cap cost reduction? How’s that work?
Sorry, fixed my error. Discount.
South Florida isn’t a competitive market at all. In fact, it’s one of the worst. Most competitive markets are generally NJ, NYC area, Eastern PA, MD, NoVA, and California
Just no.
$800 for an Explorer?? Yikes.
What’s the discount?
Run as far away as you can. Unless you really really enjoy that vehicle then sure, it maybe cheaper just to finance it.
Did you get the residual and MF from Edmunds? Did you plug them into the calculator? What incentives (if any) do you qualify for?
There is no way I wouldn’t speak with a broker first to see what’s feasible, and decide whether or not you’re on the right vehicle.
$800/mo for a Ford is a hard pass. I just turned in my second Ford lease, and didn’t lease a third because (among other reasons) I never, ever, ever, ever, ever want to deal with a Ford service department, ever again.
The dealer is the one who provided the MF and Residual. Only incentive I qualified for was $750 red carpet lease. They’re offering no other incentives on the 20 ST’s
Dealer coming down on their price with $750 for red carpet lease incentive.
That incentive is literally not even one payment!!
Then how would you know if the dealer did or did not mark up the MF (technically Ford doesn’t call it MF, it’s a rent charge)? How do you know their calculation isn’t packed with BS fees until you run the numbers yourself?
The Edge Explorer ST are very attractive, but they are capable of performing 0 of the required favors that would merit an $800 lease payment. Not for me, no thank you.
If the ST is what you want, and it is a badass car, you’ll pay for it. Maybe not $800 a month, but it’ll be ugly.
Just consider that at even $750 a month, you’re paying $25 a day plus insurance, fuel, and maintenance. That’s pretty steep imho, for a Ford.
Oh you’ll pay. That doesn’t include maintenance, it’s terrible on gas, I suppose you could take it to a Lincoln dealer to service, otherwise your oil change experience is like getting checked for STDs at the free clinic (awkward looks from 65 of your closest friends who also made sketchy choice, albeit not the exact same ones you did).
It’s hawt, but that payment would have to include $10k in negative equity or an indentured servant for 36 months to get my dry cleaning. Maybe.
Depending on the size of the town, one of those 65 may very well have, ahem, shared one of your exact choices!
This made me laugh out loud, man.
So…they’re offering NO discount other than the incentive…To hell with that. Ask for $5,750 off before incentive and get the base rent charge for the aggravation of their first offer if you really want but past that I wouldn’t waste any more time with this group of mamzer.
And to those who will chime in saying this is unreasonable on a hot new model, I fully understand that but an unreasonable offer must be met with something equally unreasonable out of principle.
Hell, at $800 you might be able to get an aviator and have an interesting hot new model
And at least get donuts and loaner cars when Sync needs a lobotomy.
Show us on this doll where Ford service touched you!