Is this a good deal can someone tell me the mf on this

Ask the Hackrs
1

Hi I am looking for ford mustang lease this is what is given to me is this a good deal

                      1500 down     2000 down     2500 down

24 months 385 363 341
36 months 347 333 318

Please let me know if this a good deal I was hoping under 300 with almost nothing down

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2

Ask for a lease worksheet and come back and post it. You’re missing MSRP, Sales Price, MF/APR, Residual Value, Acquisition fees, rebates… etc etc.

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3

Thanks for the response… he is not giving me that… the price after rebates is 24000 that is what he says

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4

Tell him if he wants your business to give you the full breakdown from his finance manager. Do your research here and you’ll see why those details are essential.

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5

Okay thank you I will reach out to him tomorrow and ask him for all the details

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6

Hi Again

Here is the MSRP 29670

Discounts 6265

Offered price 23405

I am also recent college grad I guess I will get 500$ off and I got the MF and RV from edmunds forum as follows

36/15
1.40% APR
46% residual
$2000 lease cash

When I used lease calculator I got the following

leasehackr.com/calculator?make=Ford&msrp=29670&sales_price=22905&months=36&mf=.00058&dp=0&doc_fee=80&acq_fee=645&taxed_inc=0&untaxed_inc=0&rebate=0&resP=46&reg_fee=400&sales_tax=6.85&memo=&acqFee_check=true&monthlyTax_radio=true&miles=12000&msd=0

Am I doing it right And also what is $2000 lease cash?

Please help me

7

I’ve added in the $2000 lease incentive and $500 college into your calculator:

Those numbers seem to add up assuming your other numbers are right. Have you emailed around and gotten more quotes? Use cargurus.com and sort by oldest listings to target older stock, those will likely bring better discounts.

8

Okay thank you I will do that

Thanks

9

Hi Thank you for the response

The dealer reached out to me and said money factor is 3.4% and Residual is 49%

But when I use the lease calculator I am getting this can you please look at it and let me know if I am doing anything wrong?

Also can I negotiate on MF?

Thanks

10

That looks like a really good deal if those numbers are right. Are those numbers what they gave you or that you’re aiming for? I have a feeling you’re adding the incentives on top of the discount, whereas the dealer is probably including them as part of the discount. Did they actually send you a quote sheet?

They’re inflating the interest rate from 1.4% to 3.4%, you’re able to negotiate it down but the more discount they give off the MSRP the more likely they’ll try and increase fees or interest elsewhere.

11

Yeah I am not sure if he included lease cash as part of discount already but I am sure he did not include recent grad discount which he does not know I am but even considering he included 2500 as part of discount I modified by paying 500 down and paying some fee I get this

This seems okay too for me and I will try to get the apr down by half a percent atleast to 3% so I am getting this

12

It’s up to you how and who you deal with but if this is the same sales guy who won’t send you proper quotes I would think twice about using them. They’re making your life more difficult and not doing their job. If you’ve only been dealing with this one dealer I would look elsewhere at least to compare. Given as you have $2500 incentives (I’m guessing through to 9/3 due to holiday weekend, they may be withdrawn by Ford after the month end) you have a longer period and more time to get quotes.

13

Okay thank you I will try to reach out to other dealers

14

Hi went to a different dealer…

I paid 3100 down … tax title fee registration and downpayment

and 267 permonth including tax and excise 24 months 10500 miles a year…

Also priced in excess wear and tear package for dents and tires

I felt paid a 1000 extra as downpayment but I am over all satisfied

Thanks a lot everyone