Good / Bad Lease Deal

[michael]

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

For anyone interested, Cars.com still shows three brand-new 2013 in dealers, two on the East Coast, one in Illinois. Maybe you can swing a deal like this...


(envy!)

 

[twscrap]

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.

And I have to thank you - I wouldn't have gotten the deal I did if not for your original post. Need to buy you a beer sometime.

 

[thepktrckt]

OK, done and done, dealer should be dropping of my new FFE in the next hour.

2014 FFE
Ice Storm
Leather "Stone"
12K mile/year

Total cost inc. all tax/fees is $10,885, or 36 x $302.38

Had no other Dealers call me back, on 3/31 last day of the month.
So, while SoCal may be able to get it cheaper, this is probably a decent lower-end price for NorCal.
I didn't want to haggle much more as I wanted to get it done and be low on the CA Rebate waiting list.

Of course my insurance agent told mo how one of his customer's in Benica the next town over recently got a Leaf for $201/m, including taxes, etc. on a 2 year lease.

Ah well, this is really more of a toy/present for me anyways. In 3 years I expect to replace it with something with more range at a similar price for a Taurus or Merc.

Appreciate everyone's help!

Thanks for all the posts...was that calculation including the $2500 rebate? Or were you able to get the lease for $302 a month for nothing else out of pocket?

I'm in the final negotiation stretch here in bay area and feel close but want to make sure I'm in range.

 

[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.

And I have to thank you - I wouldn't have gotten the deal I did if not for your original post. Need to buy you a beer sometime.

so glad i could help! curious about your deal? did you lease/buy from Stoneham Ford?

 

[twscrap]

Stoneham didn't have any on the lot, and the one they were trying to get from Jack Madden was sold while I was talking to them. Because the best deals were on 2013s already sitting on lots, after I learned the car Stoneham had their eye on was gone, I immediately ran down to my local dealer, told them about the deal and asked them if they could find me a 2013 for the same price. Turns out they had one on their lot that they'd pulled out of the system (so no one could see it) and were planning on keeping and using as a loaner/educational car. They decided that moving the car was better than keeping it.

 

[electricAZ]

I'm in Phoenix AZ and there are zero FFE in the state, so I looked at SoCal which has an abundance and started considering the possibilities. One dealer there is working with me, a certified Costco program dealer, and is honoring the Costco auto program deal which is $1000k under invoice. So the initial offer I've received is as follows:

MSRP: $36,055
Selling price: $33,204 ($1,000 below invoice they say)

36mo lease
12k mi
$0 down
Monthly payment: $285 (includes taxes)
36 x 285 = $10,260

So this sounds like a pretty great deal on the surface, not factoring in getting it to AZ whether that's via them shipping it or me picking it up. I assume this is a base color, no leather based on the MSRP given.

This info was left on my voicemail and I haven't been able to get in touch with that sales guy over the past 24 hours to follow up. My question is, having never leased, what specific line items do I need to request from the dealer before making any decisions on what to haggle/see if I can get a better deal on? Other questions I need to ask to make sure there's no hidden trickery?

Is it fair to ask them to cover the shipping or is this a non-negotiable, buyer always pays?

Looking to make a decision soon so thanks in advance for the help!
Jason

 

[twscrap]

Seems about right compared to what the Ford Website shows for an estimated payment.

http://www.ford.com/cars/focus/trim/electric/

 

[electricAZ]

I'm in Phoenix AZ and there are zero FFE in the state, so I looked at SoCal which has an abundance and started considering the possibilities. One dealer there is working with me, a certified Costco program dealer, and is honoring the Costco auto program deal which is $1000k under invoice. So the initial offer I've received is as follows:

MSRP: $36,055
Selling price: $33,204 ($1,000 below invoice they say)

36mo lease
12k mi
$0 down
Monthly payment: $285 (includes taxes)
36 x 285 = $10,260

So this sounds like a pretty great deal on the surface, not factoring in getting it to AZ whether that's via them shipping it or me picking it up. I assume this is a base color, no leather based on the MSRP given.

This info was left on my voicemail and I haven't been able to get in touch with that sales guy over the past 24 hours to follow up. My question is, having never leased, what specific line items do I need to request from the dealer before making any decisions on what to haggle/see if I can get a better deal on? Other questions I need to ask to make sure there's no hidden trickery?

Is it fair to ask them to cover the shipping or is this a non-negotiable, buyer always pays?

Looking to make a decision soon so thanks in advance for the help!
Jason

Updated deal! - - - -

2014 Ford Focus 5 Door Hatch Electric with Leather
MSRP = $37050.00
Sell price $1000 under invoice with Costco Program
Monthly = $267 per month (tax included)
Zero Down (sounds like we are making your 1st payment - you will leave owing only 35 payments)
Residual = $15,931
35 x 267 = $9345

Correct me if I'm wrong but that's a smokin deal?! Does the residual look right for a 10,500mi/yr lease?

Quick feedback appreciated! Again I'm in AZ, car is in SoCal...SoCal dealer doesn't want to try and trade with AZ dealer. Currently have 2 AZ dealers on the line and told them if they can get a similar vehicle to AZ at this price I'll buy it. SoCal dealer said they cannot have the car transported here even if I were to pay for it...said I'd need to come into dealership to sign the lease docs.

 

[v_traveller]

Awesome deal, Jason! I wouldn't blink twice before signing on the dotted line on that one. I'd start calling shippers at this point.

This FAQ on the Volt forum by a LA Chevy dealer might help. References to a couple of shippers, among other things.

http://gm-volt.com/forum/showthread.php?112154-F-A-Q-Out-of-State-Shoppers-Rydell

Keep us posted....


Edit: BTW, the residual looks to be in the right ballpark for your lease. Should be about $15K for a 12K mile lease, so for a 10.5K mile lease it should be more. Perhaps others with recent leases can chime in...

 

[electricAZ]

Thanks! SoCal dealer still telling me that I'd have to come in and sign docs. I have no desire to go to CA just for this. Anyone done this before?

 

[JOEFRIDAY]

We bought both of our EV's out of state. Both dealers sent the documents via FedEx and we sent them back in both instances. Maybe California has different rules.

Joe

 

[electricAZ]

Thanks v_traveller!

So after replies from this board and talking to a current FFE leasee/friend, I'm doin it. Ice Storm Blue with leather. I told them if they add tint I'll do the deal today, they said deal. I will have to arrange transport via a shipping company which looks like it will cost $350-450 from CA to AZ.

I called up Tye from the link you inlcuded v_traveller. He said he's been shipping Volts like crazy (then I explained his reference on that site).

Can't wait! The dealer is overnighting the docs for me to sign.

 

[jmueller065]

Congrats electricAZ!

 

[hybridbear]

I'm in Phoenix AZ and there are zero FFE in the state, so I looked at SoCal which has an abundance and started considering the possibilities. One dealer there is working with me, a certified Costco program dealer, and is honoring the Costco auto program deal which is $1000k under invoice. So the initial offer I've received is as follows:

MSRP: $36,055
Selling price: $33,204 ($1,000 below invoice they say)

36mo lease
12k mi
$0 down
Monthly payment: $285 (includes taxes)
36 x 285 = $10,260

So this sounds like a pretty great deal on the surface, not factoring in getting it to AZ whether that's via them shipping it or me picking it up. I assume this is a base color, no leather based on the MSRP given.

This info was left on my voicemail and I haven't been able to get in touch with that sales guy over the past 24 hours to follow up. My question is, having never leased, what specific line items do I need to request from the dealer before making any decisions on what to haggle/see if I can get a better deal on? Other questions I need to ask to make sure there's no hidden trickery?

Is it fair to ask them to cover the shipping or is this a non-negotiable, buyer always pays?

Looking to make a decision soon so thanks in advance for the help!
Jason

Updated deal! - - - -

2014 Ford Focus 5 Door Hatch Electric with Leather
MSRP = $37050.00
Sell price $1000 under invoice with Costco Program
Monthly = $267 per month (tax included)
Zero Down (sounds like we are making your 1st payment - you will leave owing only 35 payments)
Residual = $15,931
35 x 267 = $9345

Correct me if I'm wrong but that's a smokin deal?! Does the residual look right for a 10,500mi/yr lease?

Quick feedback appreciated! Again I'm in AZ, car is in SoCal...SoCal dealer doesn't want to try and trade with AZ dealer. Currently have 2 AZ dealers on the line and told them if they can get a similar vehicle to AZ at this price I'll buy it. SoCal dealer said they cannot have the car transported here even if I were to pay for it...said I'd need to come into dealership to sign the lease docs.

So the final deal is $267/month with free tinting & AZ tax included? What about license & registration? Is that included too?

 

[electricAZ]

No reg since I'll be doing that in AZ. License fees are $296 but appear to be in the itemized breakdown for rebate (like they're paying it). I'll post contract screenshot tonight.

Yes az tax included. 0 down AND they're paying first payment.

 

[hybridbear]

No reg since I'll be doing that in AZ. License fees are $296 but appear to be in the itemized breakdown for rebate (like they're paying it). I'll post contract screenshot tonight.

Yes az tax included. 0 down AND they're paying first payment.

Nice deal!! I hope we can find a deal like that.

 

[Max]

I'm in Illinois, so to me a lease made no sense. (In Illinois, you have to pay tax on the entire amount of the vehicle, in most civilized states you pay sales taxes on the residual amount, To Illinois credit they just passed a law to fix that which goes into effect 1/1/15) After doing the math, I figured it was much better to buy and take the state rebate of up to $4000 (should get the maximum amount) and the fed tax credit of $7500.

Also I found a new 2013 (was sitting inside showroom) and was able to Buy it for a song, I may have left a bit on the table for the dealer but I am happy with the deal. it goes like this

$39,995 MSRP
-$4,000 Ford Price Reduction
-$6,000 Ford "Cash Back"
-$5,000 Dealer concession

$24,995 Sale Price
+$2,409 Sales Tax, registration, cook county tax :roll:
$27,404 out the door

-$4,000 Illinois State rebate (should get)
-$7,500 Federal tax Credit

$15,904 Final price for car :shock:

+$690 Clipper Creek 30 Amp level two charger
+1000 Installation of 240 volt Subpanel and NEMA outlet in Garage

$17,594 Ready to go EV lifestyle, No gas, No Tune-ups, no oil changes. (woohoo)

Also in Illinois, make sure the dealer knows about "EV" plates they cost $130 for two years and $36 per year to renew VS. $105 per year for non-ev. plates. I missed the level two charger rebate (50% of equipment & installation) in Illinois , that ended 04/31/2014. I guess, I snoozed , I lose.. Although I haven't tested this yet, I was told you need to have EV plates to park at the public chargers downtown without getting a ticket and they only issue them to the following cars.

Currently, the program-eligible electric vehicles available in Illinois include:
◦Nissan Leaf (BEV)
◦Mitsubishi i Miev (BEV)
◦Ford Focus EV (BEV)
◦Smart "fortwo" EV (BEV)
◦Tesla Model S (BEV)
◦Chevrolet Volt (EREV)
◦Cadillac ELR (EREV)
◦BMW i3 (BEV, EREV)

Sorry for the long post, but maybe some of this information will help someone..

Max

 

[electricAZ]

Awesome deal Max! When you can get it for that a purchase does make sense. Congrats!

Sorry to beat this horse but I have few more questions that I'd really appreciate some feedback on. Firs time leasing, anyone see anything in the attached worth questioning? Once I give the green light they will overnight the docs to me to sign. Again the agreed upon deal was 36 mo, 10,500mi, 0 down, Costco program pricing, $267/mo including taxes.

Things I'm questioning:

- Why is the rebate (7b) 9505 instead of 11k which is what is being offered via Ford right now on leases?
- Is the residual too high for a 10,500mi lease? (at $15,931)

 

[michael]

You should ask the question about the difference, but here in California they charge sales tax on the rebate, plus all the DMV fees, etc. ete. Maybe even the first month's lease payment as well, since on a zero driveaway you don't even pay that.

In essence, all the up-front fees are deducted from the rebate...that's why the figure drops.

But you should ask the dealer to show how they came up with this number, make sure not some zinger added in.

 

[v_traveller]

Great questions, electricAZ.

1) Michael is right.... on a $0 drive-off lease, all those fees (5c through 5m)and the first month pmt (5b) are deducted from the rebate ($11K in your case), otherwise you'd have to pony up some $$$ before driving off. Line 7(b) would be $11K if you were getting a "$0 down" lease instead of a "$0 out-of-pocket" or "$0 drive-off" lease. All the leases on my EVs were handled this way ($0 drive-off), just checked the paperwork to make sure I'm not lying to you.

2) $15931/$33450 = 47.6% residual, which seems about right. Mine is about 49% for a 12Kmi/yr, but that was in early 2013, and I thought I read somewhere the residuals for the FFE from Ford Credit went down for 2014. Perhaps others with recent leases could chime in for comparison.

In my case (just for grins, not sure of this helps), the Volt is 70% (total ripoff at $21K+, definitely turning in that puppy after 3 years), and the RAV4 is 41% (a bargain at $20.5K, definitely buying that one at the end of the lease). Residual on my 2013 FFE is $19.5K since I got it before the $4K MSRP reduction, so I'll be turning that one in and replacing it with a new 2016 FFE.

So anyway, looks like your numbers are well within expectations, from my experience.

Might need your help in Feb 2017 to work a deal on my next FFE (free tint would be cool, literally!).