Hello everyone. I’m new to leasing but I’m trying to learn as much as I can from this forum before I sign a lease. I started by looking at a leftover 2017 F-150 CC 4x4 Lariat but the numbers were horrendous. Before I left I had them come up with numbers on a 2018 which looked much better. This is what they are offering me right now:
2018 F-150 CC 4x4 XLT Sport 5.0L w/302a pkg
Selling price: 47,638
$517/mo without taxes (taxes are 4% in SD)
Unfortunately I didn’t get the MF or the residual but I thought he mentioned the residual was like 60% but I’m not positive. I went into the dealership toward the end of the day today so I didn’t have a lot of time to work with. What do you guys think about this deal? I think there is probably some more room for negotiation. We don’t have many Ford dealers in my area (3 within 100mi I think) and they are mostly small so I’m also going to contact some dealers in the Denver area (6hrs away) to see if they are more competitive with leases. Thanks for any insight!
taking ur numbers at face value (unlikely that the buyout price is EXACTLY 31K, but anyway), the buyout tells you the residual, (31000/52845 = ~58%, but at 15K miles this seems a bit higher than what i would expect, see below for info on residuals and MFs
What i learned reading this site if that the F150 is one of the best selling trucks (ive never owned a pickup) so lease deals are not THAT great since Ford doesnt need to discount them as much. Also if you use a pickup like folks in construction/farming etc the wear/tear policy would likely come into play a lot more than say a sedan or an suv.
Would say that you need to learn/get familiar with Ford incentives this month, perhaps that selling price includes some incentive you are not aware of, if thats the case you should try to negotiate the selling price less incentives first and then apply the known incentives (lease cash, recent grad, military, etc).
Generally speaking this site “aims” for leases at/under the 1% rule, assuming no cash down the monthly lease payment should be at or less than 1% of msrp… so fwiw your numbers are “in line”.
read this too, helps to make sense of MFs and residuals, will boost your confidence when you know dealer cant pull tricks on you
Thanks for the reply and the links. You are correct that the buyout is most likely not $31k exactly but that’s all the dealer would tell me at the time. I believe it to be close to correct because according to Edmunds the residual on a 2018 XLT CC 4x4 for 36/15 is 58% right now. I read the second link you sent and the one thing that I’m somewhat unclear on is how to figure out what incentives are available from the manufacturer on a lease. I see tons of rebates from Ford on retail purchases but not much on a lease. Is there somewhere I could go to find that information out? I imagine my sales guy will be contacting me this week to try to get a deal done so I’ll make him give me the exact MF, residual and buyout as well. I’m also going to contact some dealers in the Denver area (6 hrs away) to see if the larger market is better for leases right now. Thanks again for the help so far!
$517 pretax is way too high for an for an xlt, after tax you are in the mid to high 5s which is lariat territory for 15k miles, you should check that mf, and is it 0 down or 0 due at signing because there’s a big difference.