I have been working overtime to try to find the best possible lease deal on a 2020 Ford Explorer Limited. This is the best I’ve been able to do- I feel that it’s pretty good, considering the majority of responses I was getting from dealerships were less than positive, but what do you all think?
Year, Make, Model, and Trim: 2020 Ford Explorer Limited
MSRP: $ 54225
Monthly Payment: $ 455 (tax included)
Drive-Off Amount: $ 3833 (includes tax, fees, first month payment, and $1650 down payment)
Months: 36
Annual Mileage: 10,500
MF: 0.00074
Residual: 57%
Incentives: 4350
Region: Philadelphia area
Selling price, pre-incentive: $50499 (6.9% off MSRP)
I finally received this deal after contacting no less than 15-20 dealerships, from Pittsburgh to Philly and everywhere in between. Nobody wanted to work on a decent MSRP discount. Feeling pretty happy with it!
I think you’ll find more people suggesting you run far away from the new explorer than anything. The quality of the workmanship/materials/etc on it would make it very difficult for me to justify $550/mo effectively.
With all that said, if the mf/rv/incentives check out with edmunds, you’re mainly down to the selling price. That seems a bit low to me, but it sounds like you’ve worked a lot of dealers, so you may not be able to do much better. If I recall correctly, Ford occasionally does targeted incentives if you spend enough time poking around on their website.
Seems very meh, effective $548/mo for an Explorer who’s MSRP seems inflated for what the car is. If you do decide to go with this, don’t put any money down, first payment only or nothing
Yeah I am definitely seeing mixed reviews on the Explorer…
Honestly, I’m feeling a bit stuck, as I also have a great offer on the new Mercedes GLB 250 (btw, I fully understand the ridiculousness of saying that I’m trying to choose between a Ford and a Mercedes… I get it!) I am not sure which way to go. I really enjoyed driving the Mercedes but there is just something about it that is preventing me from pulling the trigger…namely, the cabin is loud and the seats aren’t nearly as comfortable as even my Acura RDX. I’m not passing on it yet, but I’m checking out the Ford in the meantime.
My goal is stay at $450 or under per month while also getting some of the bells and whistles I’m seeking (heated seats, 3rd row, etc.). I’ve tried Telluride, Pallisade, MDX, XC90, Pilot, etc. and I either can’t get a great deal for the price I’m willing to pay (XC90, Telluride, Pallisade), or I didn’t feel it was worth the money (MDX), or I found it boring (Pilot).
Well, your Ford deal isn’t under $450 a month either. You’re putting a big up front amount to get your there. You’re at $550/mo with that factored in. Depending on where you are, finding an XC90 equipped with heated seats and a 3rd row for the same price should be absolutely trivial.
I don’t see any issue cross-shopping a Ford and a Mercedes. I’ve done the same before. I don’t think that the Explorer and the GLB are at all comparable though. They’re vastly different sized vehicles. Yah, the GLB has a “third row” available, but it’s a far cry from being as useful as the 3rd row on the larger vehicles. The GLB is an economy class 2 row SUV with some jump seats shoved in the trunk. Hell, it’s smaller than a GLC.
Palisade prices have been coming down. I’ve seen more and more deals for 7-8% pre-incentive popping up. I’m paying less for mine (SEL with all 4 option packs) than this explorer deal you have. They do take a lot more work to get though.
Have you talked to @Bostoncarconcierge or any of the other NE brokers about XC90 prices?
I have been hunting for a deal on the Ford as well. I am getting a straight NO for any extra discounts on the MSRP. The discount is 0% for any Palisade or Telluride (that is what I am receiving). Incentives yeah sure but the discounts are 0%. I was starting to believe a 0% on a Telluride is a discount itself considering 3 vehicles which I found and asked the quote for were gone in two days. I didn’t even get a chance to look at the split. People are paying for them and dealers aren’t negotiating much. I would retry for Palisade based on @mllcb42 inputs but I haven’t been lucky to get a discount
Explorers - they are all in transit. What’s in stock is going on maybe a 4-5% off tops. They keep advising me for the XLT version.
I did peek at the VW as well. 1. Engine is sluggish 2. Large vehicle on small wheels
I second @mllcb42 input w.r.t to seating space in the GLB and its dimensions. Saw the car and had researched on it in the past
The escape (based on the choices I have in cars) I see here is the premiums, Volvo or BMW and maybe Audi/Merc. The brokers are throwing good deals on the marketplace.
Regarding this quote, 4350 in incentives. They offered the same to me, edmunds said 3850 + 2500, confirm once with them.
Just yesterday, I returned my Lexus RX 350 in the Philly area. I was paying $499 for a really fun car to drive, with every bell and whistle. I had the 2011 and 2013 Explorer (XLT and Sport, respectively). The MSD’s on the Lexus made a huge impact to get the monthly down.
I was at $582 a month for the Exp Sport. (Pre LH obviously). The APR is brutal.
It was just the number I was shooting for, both for my own comfort level and for my budget. I came back to the US last year, after living in Amsterdam where all I had was my bike for commuting. Before that I was in NYC, so I haven’t owned/leased a car in years. I wasn’t going to feel comfortable paying above a certain threshold per month, and $450 was the dollar amount I set.
I just basically kept hunting until I found what I wanted. Took awhile though!
