Hey Team,
Working on this deal from Ford for a 2025 Explorer with the ST trim and something just feels off.
MSRP: $63,405.00
Discounts: $2,392.27
Incentives / rebates: $5,650.00
Fees / Taxes: Gov: $35.00, Doc: $387.00, Tax: $2,129.76 ($2,551.76)
Gross Cap Cost: $64,259.49
Money Factor: 3.1%
Residual: Won’t share yet.
36 months, 10.5K miles / year, $1,500.00 Down = $627.00 per month.
found the problem
ford leases are usually terrible.
my uneducated guess is that there’s a low discount and bad residual to make this “feel off”. become a super supporter to find out the residual, not sure why the dealer wouldn’t give you that since it’s a hard number set by the bank.
Using Columbus as a sample zip code and tax rate of 7.5%, I came extremely close to replicating your lease structure’s cost on first attempt when I capitalized the taxes.
Ratefindr’s residual showed 36/10 as 62%.
Money factor of 3.1% (0.001291xx).
Which portion feels off to you, so that we can help better dissect the deal. Were you expecting a lower cost?
I was going to guess 60% on the residual - I am in Cleveland so the tax rate is 8%. In my head the gross cap cost being at $64k just throws me off - should be lower, resulting in a lower monthly payment.
Probably because I haven’t seen them face to face yet… all of the negotiations have been thru email and text up until now. Headed to the dealership now.
Do not step foot in the dealership without having a deal already worked out.
First question you need to answer is whether you picked a hackable vehicle
The paltry 3.8% dealer discount might have something to do with it.
Just joined leasehackr Just posted my contract for one of these. Take a look. Let me know how I did if you don’t mind too. I feel like my deal was just ok, but not sure.