I’ve been shopping around for a 18MY Mustang ecoboost premium lease, and I’m about to pull the trigger on this one, but I figured I’d touch base with you.
I want to give 3,500 down drive-off, and the payments in this one would be $420/month. Terms are 36 months, 15,000 miles. This particular car has a couple thousand dollars in options over base price.
I know it might seem like a lot down, but I recently moved into the U.S., so I have no credit history. I’m almost certain I would not be able to get a lease without a similar downpayment.
Should always get at least 10% off Mustangs (except for special editions) before rebates for inventory stock. I’d check to make sure that money down is actually required and not just sales BS. Normally you can still do no money down but they hike the interest rate due to a lack of credit history.
Mustangs lease extremely poorly, but still that is not a good deal. You are basically paying $520/month for a Mustang Ecoboost. You should most definitely shop around and expand your model preferences. There are other sports cars with better leasing, heck you could even get a loaded bmw 330i for less than this.
I have been shopping around, but it doesn’t get much better:
Golf GTI: 3,250 down, 474/month
Mustang ecoboost (not premium, so it’s less equipped): 3,300 down, 335/month
Mustang ecoboost premium (like the initial example, minus an equipment package): 3,500 down, 441/month
I have also tried a couple of Focus Titanium Hatch, got the following offers:
Man, the market for Mass produced-non limited edition cars must be terrible in your area…
550 bucks effective a month for a GTI lease?
420 effective for a base Ecoboost?
They aren’t even coming close to invoice in any of their offers. You need to shop around more or negotiate better. At least I know that VW usually offers GTIs for 300 a month with 3k down.
You need to get way more off msrp. I guess the 4k lease cash for focus titanium is gone for October? Keep shopping around, you will thanks yourself later.
I have supplier pricing on the Fords, which is slightly higher than employee price.
I do mean literally no credit history. I moved to the U.S. a month ago. I got a credit card from America Express upon arrival because I have been their client for a few years but that’s it.
It does get much better. You are just looking at the wrong cars to lease. I lease a $44,000 Audi A4 for $0 down and $411/month. And plenty of people on here lease even nicer cars for less than I do. Forget the GTI, Mustang and Focus.
If you have absolutely no credit history, leasing is simply not for you. There’s no way you will get good rates, if you even get approved. Banks are not going to entrust you with a $30k asset.
Buy a car, finance through a CU. Genisys is great. Don’t make it more complicated than it needs to be and destroy what little credit you have by doing a ton of hard pulls trying to lease and getting denials.
What visa are you on? I moved to the US last year so have been through a lot of the same issues.
You’ll pay a small premium by using expat programs from the non-US brands, and a similar hike in interest from domestic brands. As @chrishs2000 said a credit union will be the most cost effective way to finance a vehicle and build a credit history, but they’ll only allow terms up to the length of your visa so this may limit you. I found the car brands were more flexible over terms but you’ll pay a premium for that.
