Currently have this offer from a local dealer. I would appreciate the community’s opinion on a 2024 Ford Escape PHEV lease in Metro Detroit (Michigan).
MSRP $42,155
Discount $3,032
Selling Price $39,123
Rebates: 16,500
36 Months
7500/miles per year
$0 down
11.9% Interest (haha)
Monthly Payment: $346.51
Additionally, the MF on this car is 0.00349583 (8.39%) - so I can already see a huge mark-up on the interest rate. 7500 miles per year is not ideal as we would pay more in the end if we exceed that.
Just wanted to get everyone’s thoughts on if I should go back with a counter- offer or put this deal to rest. Thank you!
Bad deal and frankly a bad value on this car. I had do check a few sources to make sure I wasn’t totally off base but the residual on this car for a 36/10 is 44%?? You’ll be paying over half of this cars value for a lease, no good.
On the discount, Ratefindr is showing $3k in customer cash that dealers can apply so you’re not really getting any actual dealer discount beyond what Ford is providing.
I usually disagree with feedback to just go look at a better leasable car instead of figuring out how to make the car in question a workable deal, but this is just bad all around. I would move on to something else.
There is also dealer cash available for this model. We are working one out on PND, though not in your region. It seems like the dealer cash varies by model (the rebate you show most likely already includes the dealer cash).
if they’re interested in PHEV vs EV - I’d say looking to Sportage PHEV or Outlander, as they have a much better interior and features for the price. The Escape also only comes in FWD, which isn’t a deal breaker but is something to think about.
