Would you please mind telling me if this is a good deal or not?
I have 3 months remaining on my 22 Ford Explorer lease. The buyout price before taxes/fees is $25,880, so not a bad deal at all compared to current market. Part of me wants to buy it at lease end as I will be about 4k over miles; however, used auto rates aren’t the best right now.
Dealer is offering to put me into a 24 Ford F150 PowerBoost Hybrid Crew Cab 4x4 (MSRP $61,315) for $490 a month (36mos/12k miles a year), zero down, and free and clear of the Explorer.
Is this a good lease deal? Or, is the smart play to buy the Explorer?
P.s, I’ve attached two photos of the sticker and how he presented the numbers to me.
this looks like a pretty fantastic it’s a 500 DAS and 490 mo -
what dealer is this giving $10k off a hybrid 24MY F150? because that is a really good discount unless it’s all due to A-Plan pricing you qualify for the $5k rebates.
because $5k is pretty much the standard discount i’m seeing so far on 24 F150
overall a solid deal if you’re not putting any positive equity from your current Explorer lease - which i doubt it is since trade value is zero
Thank you for taking the time to look into this! No equity from the Explorer is going into the deal as I still have three payments left @ $363 that the dealer said would have to be added in to the f 150 lease as negative equity. Also, they are not charging me for any milage overage, even though my Explorer is currently 1500 miles over.
When I was shopping F150s 5 years ago, I remember reading that MI dealers would offer A-plan to lots more people than actually qualified for it. Some of the lease deals for F150s were crazy back then - $250/mth if you could stack employee pricing with MI incentives and then find (or generate) a $3K PCO. Unfortunately, it never worked out for me in NC, but for a couple of weeks, I was able to generate $3K PCOs rather reliably (guess the affiliate marketing cookies were optimized on my phone/laptop/IP address) - then the power just disappeared.
What are the $1600 in aftermarket fees? Where is the negative equity in the Explorer early turn in? That will add about $1000 to the cost and $30 a month to the payment. Payment also does not appear to include 6% tax on payment.
There is a $3900 discount already built into the inflated MSRP. LOok at the sticker. MSRP is really only $61K. Need to understand if the lease is based on the $65K or $61K MSRP.
I believe he is operating on 65,215 MSRP with 10,036.93 in discounts. Which is my Z plan and the 3,900 discount for it being a hybrid and a mid package XLT.
I’m sure it has some. It’s a 22 with 23,000 miles, I’ve seen them from 29k-31k online. I figure by the time I were to buy out mine I’d be in for a little over 28k after fees and taxes. I’m pretty sure, I’m getting no positive equity from the Explorer trade in, actually think my three remaining payments are rolled into the deal.
