On Friday I signed a Demo 2019 Ford Explorer XLT 4wd with 202a, class III Towing and XLT sport appearance Package for $290.83 a month including tax (6%) with $697.27 DAS including First month. This was a demo that the sales manager drove around with 5k miles on it. 10,500 miles a year and a 24 month lease. MSRP is $46,060.00. I think I did OK. It is a Metallic Blue with the Ebony Black leather, sueded seats.
I think this was a decent deal especially given that the Fords don’t lease great typically. The selling price was 38k or so, I will find exact numbers and update. I qualified for 6k in rebates. I also qualified for an a-plan discount which was not used in this case as the discount they offered me was lower than a-plan would have been. This deal was done in Michigan.
The residual was 60% and I asked for MF but I was told that Ford deals in interest and not MF and it was 1%. Not sure how to plug into numbers into the calculator. If you know how, let me know.
Yeah they usually are. That is the range I had been getting until that point. That is why I jumped on this one. Most demo ones where not able to be discounted more that a couple thousand, however, on this one they were able to. At the time they had two like this one. The other one sold right away also.
This is a good thing to add when you post your deals. The fact they only had one such car to make a deal on like this is especially remarkable as supply and demand is a huge factor on dealer discount attainable.
Example: If they had 8-10 such demos to get rid of then 17-18% off sticker with 5K miles isn’t out of the question and i’d be targeting 25% to try to land in the middle.
I have found several “leftover” brand new Ford Explorer 2018’s on lots around me. My question is, is the residual value less because these SUVs are already two model years old? OR will the dealers just mark down the sales price and residual value doesn’t change?
