New Lease deals...

[Erik]

Thanks for the quick and awesome responses!!
I'm finishing up the deal right now. Will share the details when I'm home and able to sit still for a second. I think it turned out alright.

EDIT: Thanks again John and Michael (as well as the others in the thread with their experience)
Okay, here's what happened

2014 FFE
White Platinum Tri-Coat (+595)
Leather seats (+995)
Total MSRP listed at $38,585 ( after $1,000 "dealer mark-up." hah)

Talked selling price down to $35,886
Rebates and non-cash credits totaled a whopping $10,950

10,500 miles / 36 months
$0 due at signing
$310/month

Add in the upcoming $2500 from California, and the "adjusted" payment is $241/month
It's probably a gimmick, but the salesman showed my girlfriend a spreadsheet of what he's making on the deal, and it was the only "0" on the sheet. He made $2500 on the Fusion customer ahead of me, so I guess he was happy enough not to press any issues with me.

 

[jachady]

Erik,

You made a good deal, congratulations on your purchase. Enjoy your car.

On a side note, I hate when "salesmen" say they didn't make anything on deal when they did. We need to make money to get paid, the same as you did so you can afford the car, or the dealership will go out of business. In your case, (according to my calculations) the dealership made a gross total of $1300. Thats the current national average profit of a new car sale. Thats why I say you did good.

Best regards

John

 

[Astrand1]

Yeah the dealer for sure made money. All cars for the most part have "holdback" which is something paid by Ford. Im sure someone on here could explain it better, but anyway on the the FFE I bought I got a copy of the invoice and it showed that my car had $1080 in holdback. So I neg my deal at $300 under invoice so by that the dealer still made about $700 on my deal. So make no mistake they made money otherwise they would have not made the deal. Enjoy the car. Im loving mine!!

 

[Erik]

...You made a good deal, congratulations on your purchase. Enjoy your car.

On a side note, I hate when "salesmen" say they didn't make anything on deal when they did. We need to make money to get paid...

Thanks, and I agree. I totally understand businesses need to make money. This guy was trying to jerk us around all evening. Unfortunately the guy I talked to first, who was very straightforward, had clients backed up and didn't have the time.
But, at the end of the day, I'm happy, they're happy, and life goes on.

 

[michael]

Hi Erik

Sounds like you did very well indeed. I think you will be very happy, I certainly am. Let's show the light to some of our waitlister brothers!


And by the way...Plat white and leather...that's my combo too!

 

[Craig]

Leased a new 2014 FFE on Black Friday.

$37,585 MSRP
$35,500 purchase price
$10,950 in Ford incentives (including $7500 Fed rebate)

36 month lease
13,500 miles/year
$2500 at signing (equal to CA state rebate)
$252 per month (tax included)

 

[jachady]

Shameless plug here - For those of you that havent' read some of my posts, I'm the New Vehicle Manager at Havill Spoerl Ford in Fort Atkinson WI. I have a Tuxedo Black 2014 FFE with leather being built in the next couple weeks. As of right now it is still available if you guys know anyone interested. I also have a Pre-Owned Oxford White 2013 FFE with 7000 miles on it available.

John

 

[bivouac]

I was quoted this lease:

List Price $36,990
Sale Price $35,550
12K Miles / Year
------------------------------
24 Months Residual - 18,865
36 Months Residual - 15,906
$1000 Down
-------------------------------
24 Months/ $395 / mo
36 Months/ $325 / mo
-------------------------------

That's with taxes, licenses, fees, and stuff all included ($1921 in taxes, $500 licenses and fees, $95 service 'doc' fee)

I've already put $500 down to order the car, but haven't signed anything. Seems like an OK, deal, but not screamin'

I don't know where to attack? The selling price? The monthly price? I've never leased before... Any tips?

 

[Lithium]

I was quoted this lease:

List Price $36,990
Sale Price $35,550
12K Miles / Year
------------------------------
24 Months Residual - 18,865
36 Months Residual - 15,906
$1000 Down
-------------------------------
24 Months/ $395 / mo
36 Months/ $325 / mo
-------------------------------

That's with taxes, licenses, fees, and stuff all included ($1921 in taxes, $500 licenses and fees, $95 service 'doc' fee)

I've already put $500 down to order the car, but haven't signed anything. Seems like an OK, deal, but not screamin'

I don't know where to attack? The selling price? The monthly price? I've never leased before... Any tips?

What is the finance rate? Money factor x2400 gives you interest rate. I paid 35500 for 36990 car at 0.25% financing, with 43% residual value. $487 down was first and title/doc fee. Ny state tax of 8.625% rolled into payment put me at $321/mth 36 months 12k $10750 in rebates.
Attack selling price invoice is $35000 if I recollect. The rest depends on interest rates. Good credit 740+ score can get you 0.25%, next tier is 0.75%.
H

 

[jwilson165]

i posted this in the other topic, but wanted to repeat it here as well. the deals are out there...

Sale Price $32675

10.5K Miles / Year
------------------------------
36 Months Residual - 18035.60
$0 Down
-------------------------------
36 Months/ $122.68 / mo
-------------------------------
Fees - $154 reg fee, $389 'doc' fee, 1st month fee 122.68 = 665.68 TOTAL at signing

http://postimg.org/image/hn30xcj8b/

 

[michael]

This looks genuine, but it's beyond belief....

It looks like they sold you a car with a sticker price of around $40K ($39.2K base plus maybe $800 destination) for $33.3K ($6K discount) and THEN applied $13K ($7500 tax plus $5500 from somewhere else) on top of that. That is totally insane! I'll take that deal right now....any dealers offering?

 

[jwilson165]

michael - i know. it was truly unbelievable. when my wife and i heard the final numbers we were shocked and said something like 'if this is the deal you are giving us, we will sign the papers right now!' and that is what we did. we were very fortunate and even moreso because i do like the car. honestly, i think the wanted to get rid of it. the dealer said that a recent sale fell through that looked like it was final. maybe that had something to do with it?

 

[jachady]

At the time, Ford was offering the dealers a "marketing allowance" because they had announced that the 2014's would have lower MSRP's. They also had a year end program since the lease deals ended for the 2013's on Dec 31st. That's why the dealer wanted so bad to get it gone that day.

There are a couple 2013's left and they are great deals to purchase, Ford just doesn't have lease programs on them anymore.

John

 

[jwilson165]

At the time, Ford was offering the dealers a "marketing allowance" because they had announced that the 2014's would have lower MSRP's. They also had a year end program since the lease deals ended for the 2013's on Dec 31st. That's why the dealer wanted so bad to get it gone that day.

There are a couple 2013's left and they are great deals to purchase, Ford just doesn't have lease programs on them anymore.

John

thanks, that makes sense. the stars were aligned on that day i guess...

 

[Abelgoddard]

:evil: just got home from walking out of a dealership.

That 40% residual is what chaps me. What is anyone seeing right now for numbers? 2014, leather, nothing else. $400/month is crazy I think. It'd barely beat out what I'm paying now for a car I can take on trips.

 

[Kakkerlak]

I was quoted 42% residual on a 36 month/12000 mile per year lease in Washington State last week.

 

[v_traveller]

$400/month is crazy I think. It'd barely beat out what I'm paying now for a car I can take on trips.

Wow, that's nuts. Am I reading this right? $400/mo after a $7K trade is a pretty bad deal. That's $21K over 3 years.

Benchmark seems to be $300/mo including tax, $0 out of pocket, at least in these parts. That's only $10500 over 3 years.

 

[Kakkerlak]

I agree, that $7000 number on line 19, labeled "Total Trades (W)" needs context.

Is that the amount you owe on a trade-in ? Or is it the value of the trade-in ? Either way it doesn't add up, so let's ignore it for a minute.

Start with the MSRP and the Residual Percentage.
MSRP = $ 37,050
Residual = MSRP * 0.40 = $14,820


Subtract the "Cash Cap Reduction", the down payment, and the incentive: 37,050 - 1,400 - 1,800 -11,000 = 22,850.

Add the taxes and the license, title, and inspection fees. 22,850 + 1,190 + 645 = 24,685.

Subtract the residual value of the car. 24,685 - 14,820 = 9,865

Divide by 36 months: $ 274.03 per month is your cost for the depreciation of the car.

Now figure out the interest charges. A 2.25% APR is a "Money Factor" of 2.25 /2400 = 0.000938.

The interest charge is Net Capitalized Cost + Residual x Money Factor, so 24685 + 14820 x 0.000938 = $37.05 per month.

So without the mystery $7000, the lease should be $311.08 per month.

 

[Abelgoddard]

Sorry, I should've been more clear with the other numbers. I was really just concerned about the 40%.
The 7k is for my car that I owe 8k on. So effectively the down payment is 800 not 1800. The rest is clear?
Thanks everybody!

 

[blackbeasst]

I don't have my paperwork with me, but I think the cost of money is higher than my lease was. You don't say how many miles per year this is for, but with a residual of only 40%, I'd hope it is for at least 15,000 per year. My residual for 10,500 per year was 43%.

Doing the simple math, they are working from full MSRP with no discounts other than the money that Ford is putting in and there is about $1700 of fees and charges that are not obvious. Some of that is the cost of money (interest or money factor) but there may also be a Rental Charge or acquisition fee buried in their system that does not show until you are signing the final paperwork.

It seems to me like they should be able to do better. I'd press to understand the undisclosed fees, and maybe look to knock a bit off the MSRP to start with.

The strength of your bargaining position is going to be determined by the local market conditions (how many cars available in the area etc.) You have 2 more weeks before the end of the month, that is when they are most likely to deal.

The dealer I was working with was not willing to disclose all the charges and fees buried in their system before signing, saying that they are not required by law to share the details :-(
I finally ended up telling him that all his deals were too high and my cash out of pocket over the 3 years had to be below a certain threshold or there was no deal, and if they put together a deal below that threshold, I'd come pick up the car. This was probably not the best strategy, as they exactly met my number and not a penny lower, Doh!
I ended up with a good, but not great deal. In the end they discounted the MSRP a bit and left in a $1000 Rental charge which was the fee they wouldn't disclose. I found it in the paperwork at signing, and scolded them for not being more transparent. We could have arrived at a deal days earlier if they had explained their numbers.

At the end of the day, I love my car and the monthly payment is half of my CX-5. Monthly cost of ownership when gas and maintenance is taken into consideration is about 1/3.

i ran in to that same problem with a dealer other than my local i've been dealing with. even after i gave him the supplied numbers posted in my thread, he said he CAN beat the price but refuses to give me the numbers until i come in :roll: