Good / Bad Lease Deal

[v_traveller]

Congratulations, koehler! That's a sweet deal. Hopefully others in NorCal are can benefit from your work.

As far as the $200/mo Leaf lease - Nissan is running a $199/mo+tax lease deal right now, with $2000 down + tax, license, etc - but that's for the el-strippo Leaf S. Folks have reported getting about $200/mo lease including tax, but all the ones I've seen included a drive off between $1200 and $2500.

A base FFE is more like a Leaf SV, which is about $4K more (MSRP), and according to a friend at work that has a Leaf S, apparently it's really hard to get a good deal on anything but the S.

Oh, and the guy with the 2-year lease on the Leaf doesn't qualify for the $2500 CA rebate. A shame, if you ask me, because it sounds like he threw away the opportunity to have the car for another year at no cost.

 

[koehler]

Yes, hope this helps someone else.

 

[jachady]

It appears the rebate on the lease went up $250 but the residual went down 1%. Only makes a difference of about $3 a month.

 

[mdashali]

Koehler, Congrats!
I was so into enjoying the FFE that I forgot to log into the forum.
I got mine from Sunnyvale Ford who had more than 8 in stock at that time.

 

[voltaic]

Hi guys! I'm looking at leasing an (ingot silver with leather) FFE in Minneapolis. I drove it late today and had a brief talk at the salesperson's desk, and these are the numbers she gave me. I wasn't ready to buy right then - figured I should collect my thoughts, read up on leasing, and see what you guys think. I think I'll go back on Thursday, when i have more time.

Sticker is $37,425 (options are leather, cover, and cord bag ) with $11,000 in rebates. 36 months, 10500 miles/yr, residual set at $16,093. $0 drive off, $400 per month.

Based on Ford.com's leasing calculator, and other user's posts, that sounds kinda high. I set up the exact same car/options in the calculator and the monthly with $937 due at signing (the lowest it'll go) is $292. I realize the calculator is "best case" but still - am i missing something obvious when using it, like sales tax? I did pre-qualify with Ford Credit, which i forgot to mention to the salesperson, so maybe she was assuming a worse interest rate? Even the Edmunds calculator gave me $335.

I guess I'm also wondering how much bargaining power I really have. This is one of only two FFEs physically at dealers anywhere within about 300 miles. So i can't get nearby dealers with FFEs in stock competing for my business like folks in CA or GA have been able to. Any ideas on how to approach this?

Also - the car cover and cord bag are listed on the sticker as "Dealer Installed", but they're not like dealer-installed AC or an alarm. They're just tossed in the trunk. I don't want either of them, plus together they add $435 to the sticker price. Can I just tell the dealer to keep them/send them back?

Sorry for the long-winded post. I of course really like the car, but not so much that I want to pay (what seems like) a big premium for it.

 

[WattsUp]

Sticker is $37,425 (options are leather, cover, and cord bag )

Leather seats and premium paint are the only options on the FFE. The cover and cord bag are merely accessories they are trying to pawn off.

 

[jachady]

Actually the cover and charge cord are accessories that are ordered and billed through the factory as an option. They are order code 76B (cover), 76A (cord bag) as well as 96D (charge port graphic). They are part of the car as built and are included on the original window sticker, not on a separate sticker.

It looks to me like the payment should be closer to $350 with $0 down. I'm not exact though as I don't have your tax rate or licensing costs. But I'd be closer to that than $400.

John Chady
Sales Manager
Havill Spoerl Ford Lincoln

 

[jachady]

Plus there's the Exterior Protection Package (Rear Bumper Protector and Mudflaps) Code 90C.

 

[voltaic]

Actually the cover and charge cord are accessories that are ordered and billed through the factory as an option. They are order code 76B (cover), 76A (cord bag) as well as 96D (charge port graphic). They are part of the car as built and are included on the original window sticker, not on a separate sticker.

It looks to me like the payment should be closer to $350 with $0 down. I'm not exact though as I don't have your tax rate or licensing costs. But I'd be closer to that than $400.

John Chady
Sales Manager
Havill Spoerl Ford Lincoln

Yes, the cord and bag are on the original window sticker. Too bad the EPP isn't, as that's something I would want. Thanks for the info!

 

[hybridbear]

Hi guys! I'm looking at leasing an (ingot silver with leather) FFE in Minneapolis. I drove it late today and had a brief talk at the salesperson's desk, and these are the numbers she gave me. I wasn't ready to buy right then - figured I should collect my thoughts, read up on leasing, and see what you guys think. I think I'll go back on Thursday, when i have more time.

Sticker is $37,425 (options are leather, cover, and cord bag ) with $11,000 in rebates. 36 months, 10500 miles/yr, residual set at $16,093. $0 drive off, $400 per month.

Based on Ford.com's leasing calculator, and other user's posts, that sounds kinda high. I set up the exact same car/options in the calculator and the monthly with $937 due at signing (the lowest it'll go) is $292. I realize the calculator is "best case" but still - am i missing something obvious when using it, like sales tax? I did pre-qualify with Ford Credit, which i forgot to mention to the salesperson, so maybe she was assuming a worse interest rate? Even the Edmunds calculator gave me $335.

I guess I'm also wondering how much bargaining power I really have. This is one of only two FFEs physically at dealers anywhere within about 300 miles. So i can't get nearby dealers with FFEs in stock competing for my business like folks in CA or GA have been able to. Any ideas on how to approach this?

Also - the car cover and cord bag are listed on the sticker as "Dealer Installed", but they're not like dealer-installed AC or an alarm. They're just tossed in the trunk. I don't want either of them, plus together they add $435 to the sticker price. Can I just tell the dealer to keep them/send them back?

Sorry for the long-winded post. I of course really like the car, but not so much that I want to pay (what seems like) a big premium for it.

What ended up happening? I'm looking at this same Focus Electric at Apple Ford in Shakopee.

I wanted to post here to ask about how much wiggle room there is at dealers versus the Ford.com calculator.

When I run the Ford.com calculator with $0 down ($930 due at signing the fine print says) then the monthly cost shows as $285 as shown below.

Base MSRP $35,170
Total of Options $995
Destination Charges $825
Estimated Capitalized Cost $36,990
Available Incentives -$11,000
Net Price $25,990
Down Payment $0
Adjusted Capitalized Cost $25,990

$285 Monthly Payment
36 month term, 10,500 miles/yr, $930 due at signing

When we leased a Prius awhile ago we went in to the dealer with the base lease offer that Toyota was advertising. The dealer said that Toyota fixes the lease factor & residual value, but that each dealer sets their own total capitalized cost. The dealer was willing to go lower than the capitalized cost used by Toyota to calculate the advertised deal and thus we got our Prius for less than the Toyota advertised lease price. I'm wondering how much of an opportunity there is for something similar with the Focus Electric.

As was commented previously, Mpls isn't a big EV market, there's only 1 Focus Electric in the Twin Cities area. So there's no competition between dealers for our business like in other states. What kind of leverage do we have? What kind of deal could we get?

 

[jachady]

hybridbear - The Ford lease calculator is closer. I don't think it's adding in taxes or licensing though. That why I mentioned that it would be closer to $350.

You are correct that there aren't many up that way so that gives you a disadvantage when trying to negotiate. Ordering out is the best way to get your price because right now there are at least 2 of you looking at purchasing the same car. The only issue there is the time it takes to get the car.

On a $36990 msrp car, the invoice is $35052 which is what I use for my base Cap Cost when customers order FFE's. The adjusted cap cost ends up at $24052 after the rebate.

I already have one customer order from the Minneapolis area, wouldn't mind a couple more. It costs me about $400 to deliver the car so I have to add that to the numbers.

John Chady
Havill Spoerl Ford Lincoln

 

[WattsUp]

Actually the cover and charge cord are accessories that are ordered and billed through the factory as an option.

Well, pseudo-options then, with huge mark-ups.

But thanks for clarifying that. Any advice about what to do if people want an FFE, but aren't interested in the "added" options as in this case? As far as I know, those two items aren't "required" options.

 

[jachady]

How come there's no "like" button for posts?

 

[hybridbear]

How come there's no "like" button for posts?

I agree. I'm used to there being a "like" button from the FFH Forum and keep going to click it, but there isn't one here...

 

[voltaic]

Welp, I gone and done it - leased the Ingot Silver FFE from Apple Ford in Shakopee, MN. Turns out (I somehow totally missed this in my first conversations) they're a "one price" or "best price" dealer. So no budging from sticker price, which the sales lady politely pointed out after patiently listening my spiel about the research I'd done, invoice price vs. sticker, enthusiastic dealers in WI, etc. Oh well. :roll:

She ran the numbers yesterday assuming a $1500 trade-in, but today the used-car guy looked at & drove my car and offered $2000, which was what i'd hoped for but wasn't sure I'd get. Figuring that in brought the deal to: $2000 trade-in, $331/month, 10,500 miles. Not stellar, but i'm happy with it. And happy with the car. The mileage limit is fine - my 14-year-old Beetle had just 98000 miles on it. This will likely get the same relatively gentle use (though maybe not in the first few months!) And I think the trunk volume is actually bigger. Though that "organizer" is coming out right away.

My salesperson (Cathy) was very nice and efficient, and was genuinely excited to be selling the dealership's first FFE. She sold a Fusion Energi recently, and has taken an order for another FFE.

Turns out hybridbear and his wife had an appointment to drive this car on Friday. So we're going to try to meet up this weekend instead so they can drive it for a bit.

 

[jachady]

Congratulations and enjoy!! A "good deal" is always a personal opinion and I'm glad you think you got one. I'm sure your salesperson will be excited to see you whenever you stop in (although it won't be much with just having to do tire rotations).

John

 

[bivouac]

Congrats Voltaic!

I actually may have ordered that FFE that you just leased in Shakopee, put down $500 to get it shipped from the factory, and ended up taking over a lease from someone else. I ordered an ingot silver w/o leather... wait.. maybe you got leather?

Anyway - The one I was quoted on did not have leather, and I was originally quoted $1000 down and $325 for 36 months on that vehicle with 12K miles (all taxes and stuff included) - So it seems, at least, like a very similar deal that they offered me.

I'm glad to see it sold, tho - I felt bad having them order it and then backing out when I found a lease transfer.

Are you LOVING it??

 

[voltaic]

Thanks bivouac! This one does have leather, so not sure if it's the same one or not. But I really like it. It's smooth and quiet and quick - it's going to take time to re-calibrate my feel of what "going fast" is, based on road noise etc. Right now if i drive what feels like the "right" speed and don't watch the speedometer I wind up doing 75-80 on the highway. Fun, but hard on range. And potentially on my license :shock:

 

[jwilson165]

hi all, i had posted a while back about my lease deal. some questioned the deal because the terms were hard to believe, but i finally got around to copying my lease agreement. to recap, i paid $665 in reg, title & first months payment which is a whooping $122. so i paid $0 and $122 for 10.5K a year for 36 months. i think the deal was a result of a few factors - it was the end of the year (12/30/13), they wanted to make room for the new model, it was the middle of the winter and the car was sitting on the lot for 4+ months. im happy to answer any questions! i'd also recommend Stoneham Ford to those living in MA and NE - they are fantastic to work with.

 

[michael]

Yes, I commented on other thread. Your deal is unbelievable but obviously for-real. You got a deal beyond my imagination. Congrats!