Really appreciate any insight you have on this lease deal.
State: Virginia
Car: 2022 Lincoln Aviator
MSRP: 63,255
Discount (X-Plan): 3,021
Sale Price: 60,233
Total rebates: 2,425
Total miles/yr: 7.5K
Months: 36
Monthly pymt (w/o tax): 967
Residual amount: 35,422
MF: Tried to figure it out but couldn’t
Down payment = 0 - dealer said he would use the rebates for the down payment
Would this be a good deal?
Would it be better to buy it?
How much would MSD bring down the monthly payment?
Any help would be really appreciated as this is stressing me out…
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
Read Leasing 101 (EDITORIAL | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!! While you’re at it, be sure to watch the LH video (How to Use Leasehackr - YouTube) to brush up on how to most efficiently use the resources here.
Pick a specific vehicle that you want to target
Gather the current MF, RV and incentives from the LH Calculator - Lease Program Query or Edmunds forums for your zip code
Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
Plug your numbers into the LH calculator (CALCULATOR | LEASEHACKR), and use a pre-incentive discount similar to what you have seen
Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Getting X-Plan pricing plus $2425 in rebates, on a presumed in-stock unit, is a good deal right now. However, making a $1000/mo payment on a $60K vehicle is a terrible lease arrangement. So you have done a good job negotiating the price of the vehicle, but Ford really isn’t providing lease terms that make sense. If this is the vehicle you must have, I found finance it instead.
Thank you! That makes sense. It is so hard to find any in stock within that msrp range. I was approved for a 72month loan at 1.8% so thinking about going that route. Tough decision though as I always prefer to lease.
One thought experiment worth conducting these days is to assume this is the new normal. Banks are fully aware of just how much consumers are willing to pay to lease cars. Now that that cat is out of the bag, it’s not going back any time soon.
So compare the total cost of:
(A) doing 2 of these leases over the next 6 years.
Versus
(B) buying the car and extending the warranty to 6 years.
