Lease terms on FFE?

[EVF]

I feel pretty good about the deal we were able to get on a 2012 FEE with Leather in NorCal, $150.16 month w/tax 36 month lease/10,500miles. That includes a $3,500 drive off, however in CA you get the $2,500 even for a lease for which I received the check in the mail last week. So in turn we got it for $150.16 month with $1K down. Two months in and no regrets so far!

The $2500 from the State comes as a check from the State and not a tax credit when you file your tax returns like the Feds? How long did it take to get the check once you submitted the paperwork?

 

[user 3729]

I'm new here. I'm thinking about leasing. I visited a dealership that has five 2013's and has yet to sell or lease one as far as I can tell. They could only get one of their FFE's to even turn on, which tells me they've been sitting there for a long while.

Sticker was around 41500, sales price 39600, 900 in lease fees, -10,750 incentives. With sales tax (here we pay tax on the entire cap cost less incentives) they arrived at 31,600... 385/mo, 0 down, 12k miles.

This seems significantly higher than other deals I am seeing. Why?

 

[rvsixer]

This seems significantly higher than other deals I am seeing. Why?

My guess is the leasing company is not including the $7500 federal tax credit as downpayment capital cost reduction:
http://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html

 

[rvsixer]

This seems significantly higher than other deals I am seeing. Why?

My guess is the leasing company is not including the $7500 federal tax credit as downpayment capital cost reduction:
http://www.edmunds.com/fuel-economy/the-ins-and-outs-of-electric-vehicle-tax-credits.html

Bwahhh. Can someone pass me the ketchup as I eat some crow . Looks like the lease includes the $7500 tax credit going to Ford finance. Must be a hell of a high residual to have the current low lease rates.

 

[user 3729]

I have all the figures except for the money factor, thanks to an anonymous helper on this forum sending me scans of his deal.

 

[v_traveller]

Looks like the lease includes the $7500 tax credit going to Ford finance. Must be a hell of a high residual to have the current low lease rates.

Residual on my FFE was 47%, so I can buy it at the end for ~$19500 (MSRP was ~41500).

Compared to other cars I've leased, that's low for a 12000mi, 36-month lease. Got my wife a Pilot EX-L a week after getting myself the FFE, residual on that thing is 60% (!). The 2011 Sienna LE we traded in had a 55% residual. And it still had $1500 trade-in equity at 3 months to go on the lease, which was applied to the Pilot.

Will be interesting to see what the FFE is worth after 3 years/36K miles... seems like $19.5K is awfully low. Do Fords really lose that much value after 3 years?

 

[user 3729]

An EV depreciates $7500 the second it is sold, because the first buyer is able to claim the tax credit. The pricing on used EVs reflects this.

The FFE residual is 47% of the MSRP, because residual is always based on MSRP. But if you look at the effective residual (MSRP-7500), it's much higher, closer to 57%.

 

[WilsonBend]

We just leased a Focus EV in Atlanta. The deal (with taxes, title, reg, and misc fees included) came out to be $306/month over 36 months with 10.5k miles. This was a little better (around $1000 total cost) than the advertised price from the Ford website for my area. The only option was the leather seats. I approached several dealerships in town for their best deal and got offers as high as $366/month.

 

[Rcarlyle]

Ford Focus Electric for as little as $285 a month with just $930 due at signing on a 36-month lease. Anyone take advantage of this on the east coast?

 

[floppymoose]

I'm trying to figure out if this is for real or just a mistake on Ford's website, but when I got to:
http://www.ford.com/cars/focus/trim/electric/

I see this (sometimes).... look in the top right under the MSRP figure:

That's a pretty sweet deal if it's real. I've got my local dealership looking into this but don't have an answer from them yet.

It's worth noting that sometimes I don't see the lease advert at all on the page. And sometimes I see different terms ($306 a month). It's all rather confusing.

 

[user 3729]

Crazy. Let us know what you find!

 

[floppymoose]

Striking out so far. Local dealership gave me a non-answer, just offering to lease me an FFE at a much higher price.

I'd like to ask someone at Ford Motor company directly, rather than a dealership. I haven't found the right email address for that yet, though.

 

[floppymoose]

Although no one from Ford or a dealership has told me this, I suspect the $159 a month and $2158 down blurb is a mistake. I think they accidentally got the 24 month lease offer on the Focus SE confused with the 36 month lease on the FFE. You can see both of those offers (for CA) here:
http://www.yourcaliforniaford.com/vehicles/2013_Ford_Focus

Looks like the real offer is for $249 a month and $2138 down. After the CA $2500 tax rebate, that comes to $8566 over the 3 years, plus fees and taxes. From a FFE lease offer that was higher than that, I'm estimating fees and taxes in CA will be another $900, bringing it to $9466.

 

[hhcev]

I leased a 2012 FFE in December for 217 a month 2900 down for 36 months with 10500 miles a year and love it. For anyone who knows, is the residual value on a lease negotiable when you are turning in the lease? My residual will be 18,500 but would love to negotiate it down at the end of the lease. Also, how can I tell if the dealer used the 7,500 federal tax rebate towards the deposit, if it is still available at the end of the lease that would be a major factor in buying it. Lastly, how long did it take to get your 2500 California rebate, Ive been waiting about 6 weeks now? Loving this car and the gas savings, especially with gas in San Diego hitting 4.25 a gallon! Thank you.

 

[user 3729]

It is not negotiable, but sometimes you can turn the car in and then buy it back at a lower price than the residual. It depends on what state you live in and how the dealer handles off-lease cars. And of course, what the market value of the car is at the end of the lease.

 

[DavidJohnson]

I leased my FFE on Feb 25, 2013 and got the following deal. $1,000 down and about $325/mo for 36 months. Got $10,750 in rebates. Residual of $20k. Still get the $7,500 tax credit. Right now the lease is way better because the rebate on a purchase was only $2k.

 

[user 3729]

You do not qualify for the tax credit if you lease. The leasing company gets the tax credit.

 

[floppymoose]

http://www.yourcaliforniaford.com/vehicles/2013_Ford_Focus
Looks like the real offer is for $249 a month and $2138 down.

So the short story is that it's easy to get those lease terms in northern california. I just leased a candy blue FFE with cloth seats this weekend on exactly those terms (plus tax and dmv fees).

I'm sure an experienced lease negotiator can do better than I did, so consider those terms a starting point for the dealer.

Now I'm looking for a charger to install outdoors and that doesn't make a lot of noise (which apparently rules out the GE one).

Also, this webiste seems very helpful for finding various incentives in california:
http://www.driveclean.ca.gov/pev/Incentives.php
Using it I see not only the $2500 ca rebate on the focus electric, but also a charger rebate program, and the ability to get free parking in San Jose (which I live right next to).

 

[brad]

Hello, new here in northern CA. I also thought this lease was too good to be true. I went to a dealer who "agreed" on $159/mo, $2188 due at signing, 10.5k miles/year, 3 year lease. FFE had a MSRP of $40490 ( optional pearl white paint) w/ $10750 in rebates. Turns out they add all taxes and fees to the $159, actually making it $260/mo, $2188 down. Not bad but the Leaf deals are better.

Can the $2500 CA rebate still be claimed on these leases? I thought it was part of the $10750 in rebates.

Thanks!

Although no one from Ford or a dealership has told me this, I suspect the $159 a month and $2158 down blurb is a mistake. I think they accidentally got the 24 month lease offer on the Focus SE confused with the 36 month lease on the FFE. You can see both of those offers (for CA) here:
http://www.yourcaliforniaford.com/vehicles/2013_Ford_Focus

Looks like the real offer is for $249 a month and $2138 down. After the CA $2500 tax rebate, that comes to $8566 over the 3 years, plus fees and taxes. From a FFE lease offer that was higher than that, I'm estimating fees and taxes in CA will be another $900, bringing it to $9466.

 

[v_traveller]

Congrats! What a deal.

Yes, you can get the $2500 CA rebate on a lease:

http://energycenter.org/index.php/incentive-programs/clean-vehicle-rebate-project/cvrp-eligible-vehicles