I’m planning to lease a vehicle through my business. I really wanted an Aviator and found a 2023 base model with the panoramic moonroof. Pretty much what I needed but the dealer wouldn’t go lower than $57k cap before taxes, fees, etc. It pushed the lease past my ability to proceed.
I did manage to find a fully loaded 2022 Explorer Platinum. Sweet vehicle and I really like it. Here are the details:
The transaction that is being presented to you is a lease. 39 monthly payments of $827.09 includes $2,905.88 tax. Total due at lease signing, $4,500.00, which includes Title Fee of $50.00, Light Vehicle Inspection Fee of $10.00, Plates of $25.00, Registration Fee of $95.50, Supplemental MCTD Fee of $50.00, Vehicle use tax of $30.00, Doc of $398.00, Lease Acquisition Fee of $645.00. Additional taxes, finance charges, a security deposit and fees may apply and may increase the price shown in this tool. $2,369.40 down payment, and first month’s payment of $827.09. Includes RCL Customer Cash of $500.00.
My monthly payment range is $650 to $750.
What’s the thought on leases for Explorers at this level?
Most cars, Ford being a prime example, do not lease well. They do not have the programs (RV, MF and incentives) to be good candidates for lease-hacking, regardless of what dealer discount you can negotiate. This is truer now than it has ever been. Which means you cannot start your search with a particular car or cars in mind, and then find a way to make them lease well.
It will be like pushing a boulder uphill while pulling teeth, and you’ll still probably have a bad deal in the end. You need to start your search by filtering only the vehicles that are leasing well right now and offer good value per dollar.
Check out the “Share a Deal” and “Marketplace” sections of LH forums to decide what’s leasing well and pick a vehicle that is already proven to offer good value.
Remember, there are no magic wands that can save a deal from poor programs (RV, MF, and incentives) and/or poor discounts.
Thanks @max_g and your advice is well received. I have to reconcile your words with the fact that the Explorer is the vehicle that best suits my needs and satisfies some of my wants.
If you have your heart set on a vehicle it seems the strength of the deal may not matter much to you, @autocompanion is advertising 7% off on Explorer, so you may want to reach out to a broker on the threads. If you’re balancing the needs, wants, and deal, The 39 month lease means you’re paying a year registration for 3 months of use (which in your state isn’t a big factor).
You started out wanting an Aviator and I’m curious if you considered other makes in the same payment range as the Explorer but more than your original $650-750 plan, as the Explorer turned out to be. Some alternate suggestions to pass through the mind might be anAudi Q7 (@DonnyAudi) or the BWW X5 that may be getting better discounts? Heck, you may want to give a look at the Subaru Ascent Limited for mid $600’s w/ ~$1500 at signing (@rubbergash) which falls squarely in your budget as might the VW Atlas SE or even Acura MDX w/ Tech.
I hope you find this helpful or you pull the trigger to enjoy the new Explorer!
I used my last Explorer as a psuedo work vehicle as well as nice vehicle to take the wife out on the town. The interior might get a bit scuffed and I need to be able to fit at least a 6’ ladder in the back. Every now and again I’d put something heavier or longer in the back. I just don’t see that happening in a BMW.
This is also why I shut down the Aviator idea even though the Aviator is a gorgeous vehicle.
I guess I could finance it. The deal would be conducted through my business. I did like the lease option for the lack of being tied in to a vehicle at the end of the term. The yearly expense against profits was good too.
Honestly I’m not really familiar with financing and how they compare. I guess the financing option allows me to depreciate the vehicle as an asset. Not sure how that compares to the lease numbers in terms of value.
Read through all the replies and here’s what I don’t see:
if the heart wants what it wants, and it wants an Explorer or an Aviator
what were the lease programs on the 22 and 23, in the trim you want, for the terms you want? (I would look at 36 and 39 months to see how different they are, less for registration reasons and more for our of warranty / wear and tear reasons). The top trim usually (not always) has a weaker program than the lower trims, have to look at them.
we’re late in the game for the Ford programs to be good on outgoing MY, usually around April they switch to subvented purchase and no lease program
a leftover 22 may not be the play here, ordering a 23 with exactly what you want might get you a more favorable MSRP and lock-in some discount
But there’s not enough data here to say, one way or the other. What you have in front of you was Escape ST numbers when it was new. From a business perspective it’s way overpaying for the utility you’re renting - not that it ever stopped anyone before.
A $1620 discount doesn’t seem big enough on an outgoing 2022 model. Others here are offering up to $3000, and that’s before we start talking about X-plan, which you should look into. I would think where you find these '22 Explorer Platinums, they are going to be aged inventory. If you need to have an Explorer, I would be looking for demo’s or loaners.
