How Is This Lease?

[henryfocus]

Your thoughts on this lease offer? This will be my first lease so uncharted territory for me. Thanks.

2017 Platinum White with leather
$1000 down, $304 per month plus tax.
10,500 miles per year.
Buy back option at $10,634.

 

[scottt]

Your thoughts on this lease offer? This will be my first lease so uncharted territory for me. Thanks.

2017 Platinum White with leather
$1000 down, $304 per month plus tax.
10,500 miles per year.
Buy back option at $10,634.

Never ever put money down on a lease.

What is the sales price of the car?

 

[henryfocus]

With options and destination: $31,670.
Discounted to: $30,376.
Subtract $11,750 Red Carpet Lease cash: $18,626

$1000 down, $304 a month seems high. Just building it on the Ford website I'm seeing $910 down, $256 month.

There is an extra $1770 that seems to be unaccounted for. Maybe some other fees that the dealer included in the quote but the website doesn't?

 

[fbitz777]

If Ford bought your '16 back then would you not be better buying a 2017 and get tax refunds?

I had a 2014 that got bought back and then I got a free '16FFE with the money so I was at 15k or so at the end of the day with all the Fed and State refunds.

Ended up selling the '16 for 10k so I drove about 35k miles for 5k.

Unfortunately my '17FFE never got allocated so now I switched to Tesla ...I would probably have looked at Bolt but again they are not around.

 

[Smoking_Rubber]

My coworker talked to a dealer last night about leasing a 2017 FFE. They offered him $1000 on his trade in and a $163 a month lease payment. Thats 12000 miles a year, and we're on the central coast of California (San Luis Obispo dealer).

http://www.thetruthaboutcars.com/2017/02/lease-discounts-on-electric-focus/

We're in the process of convincing the boss to install EV chargers or plug-ins. My coworker's wife pumped the brakes until the boss get's something installed.

 

[scottt]

With options and destination: $31,670.
Discounted to: $30,376.
Subtract $11,750 Red Carpet Lease cash: $18,626

$1000 down, $304 a month seems high. Just building it on the Ford website I'm seeing $910 down, $256 month.

There is an extra $1770 that seems to be unaccounted for. Maybe some other fees that the dealer included in the quote but the website doesn't?

That's a horrible sales price. I was able to get mine for under invoice (before any rebates were applied).

 

[EMP40]

My 2016 was $500 down, $271/mo including the $600 insurance (I forget the name of it) against damages upon return, including taxes and 1st year registration. Try emailing multiple dealers internet sales then you can pit one dealer against the other.

 

[campfamily]

Don't negotiate payment when coming up with a lease deal. You need to know the selling price (you want this as low as possible), the residual value or residual percentage (you want this as high as possible), the interest rate (for a lease, this is often known as the money factor; want this as low as possible), down payment, term, and allowable mileage. Negotiate the selling price, interest rate, and residual value. From these factors, you can calculate the lease payment (google "lease calculator" if you want an easy calculator to do this for you).

I agree with previous posters that putting money down on a lease is a bad idea. The only reason I might consider it on a FFE is if there was a gov't incentive or rebate that I would be using to cover the down payment.

 

[NightHawk]

The residual value appears a lot lower than that from my 2014 FFE Lease where it was around $16K. Lowering the residual value several thousand will raise the monthly payments, but lower the option to buy price at the end of lease.
With deals at this time of year, I would shoot for closer to $225/month or less, zero down lease, including all taxes and fees.
In California you can also get a $2500 rebate check leasing a new electric car, if your income is under $150K/year. The rebate goes up to $4500 for a lower income, around under $40K/year or so. That could pay as much as more than half of the lease cost over the 3 years!

 

[GHTech]

Hi!

Just for reference, below is a summery of my numbers.

Location: So. Cal
Model: 2016 FFE Leather
Down Payment: $0
Term: 3 years
Mileage: 10,500 per year
Monthly: $225
Date: end of Apr 2016

Regards,

Emil