At least for a brief period of time, there was mention on the board of the really good lease deals.
The car itself is pretty unremarkable, so I don’t think people get particularly excited about the good deals… But I imagine it’ll work just fine for your friend as a car.
Agree w/ @carmac55 that a longer lease might be beneficial for your friend.
Really? Says who ?
Either of these will fit 3 little boys and herself comfortably.
And what happens when the next lease (with the $6k equity down) ends?
Are you assuming they’ll have equity again or their income will go up to afford the future payments?
$6k in equity on an EcoSport?!
Here is less than $300/m payment. I do not think she wants something like that.
https://www.msn.com/en-us/autos/enthusiasts/woman-goes-viral-for-buying-a-1998-ford-escort-for-dollar289-a-month-for-the-next-84-months-photo/ar-AA17W2dj?li=BBnb7Kz
Perpetual lease payments aren’t the solution to this.
Maybe go to $15k on a purchase of something that’ll run forever. She can put down the equity and finance the rest.
No…why are you drawing that conclusion? She’s already affording $240 a month, the 6k in equity is just a nice unexpected bonus for her which helps offset the price of leases in general being higher now.
Perhaps I shouldn’t have mentioned the 6k in equity at all, it doesn’t really play into the equation. I know on here for everyone else it does but I’m trying to help her out, not blow all her money just to get the best car possible and say “look at this deal I got for this awesome car”.
I know crazy right! Her buyout is 11k and I have multiple offers in the 17k range…I was shocked myself.
She needs a reliable vehicle, the price of a worry free lease vs cashout of a new car plus the monthly maintenance on a used car it makes more sense for her to lease something…assuming the right deal comes along.
Otherwise I would tell her just go buy an old highlander and hell it may just end up that way but I’m doing my research first. I don’t think I would tell her to keep the ecosport though even if she was okay with the limited space, that thing has only 17k miles and it’s ready to die I feel like…you know when a car just feels “tired”, I drove it once and that feeling was unmistakable. Whoever thought up those auto start/stop engines was definitely not considering longevity…
My 97 land cruiser feels more fresh than that car so does my 2010 ferrari.
No commento
3 years old car has let say 50% residual. Wich one she has?
The 2020 Ford EcoSport S has a Manufacturer’s Suggested Retail Price (MSRP) starting just under $21,580 , including destination. The better-equipped SE starts around $24,545, while a fully loaded SES can push to the $29,000 mark.
Any of them from autonation? Or a dealer affiliated with a ford dealer? If the offer is the same that dealer would be able to do the buyout and save the taxes. $660 on 11k. That’s a 10% bonus on the equity. Seems worth whatever legwork she would have to put in. Also, it seems very worth it for you that you don’t have to lend her the money.
Would have to go back originating ford dealer that’s the issue
Ugh. Really? There goes that suggestion. The last time I dealt with a ford lease wasn’t even for myself and it was 2015. That’s frustrating. What happens if you move?!?!
We have a 15-year-old Lexus RX. There is no such thing as “monthly maintenance.” The vehicle hasn’t let us down in the 8 years we’ve had it. These things routinely go 200,000 miles or more with very little drama.
I understand you want to go the luxury route, though, where she gets a brand-new car every three years.
Isn’t an Altima bigger than an EcoSport?
Definitely not looking to go the luxury route, no idea what would give you that idea it’s actually quite the opposite.
Believe me I know all about Toyota/Lexus reliability, those are the only cars I would ever suggest someone to own out of warranty. I had an LX450 for 18 years it was my first car, then a GS lease while owning it then two GX leases and I sold it during the first one and instantly regretted it…had lots of other cars in between but they were junk in comparison. Now I’m back to a Land Cruiser.
You have owned your car and maintained it, buying a high mileage car, which it would have to be for toy/lex as they hold their value, in a 10k price range will take an initial investment beyond just the cost of the vehicle. Even with my 97 LC which is known as being a bullet proof vehicle one of the most reliable ever produced I still had to get new tires, new shocks/springs, baseline all the fluids, plugs and dozens of other small things and that was just preventative, I had to get a new radiator and do other repairs as well. While a lease you destroy it and get rid of it…plus of course the upfront cost of buying the car.
I understand what you’re saying but it’s not as cut and dry as you’re making it out to be. Not in her situation at least.
Kids also got bigger.
It was hell dealing with Ford for her, all these finance companies have tightened up their policies. I’m buying it out for her and she can repay me after she sells it, just infinitely easier that way and it also means we’re not under the gun for a new car.
The luxury in question isn’t the leather seats and seat massagers, it’s perpetually being in a new vehicle.
Anyway guys, I got my answer thank you i sincerely appreciate it.
Murano sounds like a winner