New Pricing and incentives for 2014 and 2015 FFE's

[Olagon]

Picking up a black one today for $29,239.88 out the door including Hawaii's GE tax. It has the leather seat upgrade which I didn't want but didn't have a choice. I didn't want black but the other model was silver and it has a "rental car" look. Selling my iMiev today as well so swapping out a 2012 EV for a 2014. Look forward to learning more from you guys.

What's the breakdown of MSRP, invoice price, incentives and the price you're paying the dealer before fees/taxes? How much under MSRP are you paying?

$31,179 (includes $189 theft registration) plus the following
-State Tax: 4.712% (on full amount above)
-Licensing (depending on weight): $329.95
-Document Prep Fee: $250

Minus the $4,000 incentive
= $28,659.93

 

[NightHawk]

$31,179 (includes $189 theft registration) plus the following
-State Tax: 4.712% (on full amount above)
-Licensing (depending on weight): $329.95
-Document Prep Fee: $250

Minus the $4,000 incentive
= $28,659.93

So no added dealer discount at all, just full MSRP and the Ford $4000 discount incentive?

 

[Olagon]

So no added dealer discount at all, just full MSRP and the Ford $4000 discount incentive?

Yup. I tried. Only three in Hawaii. I even waited a couple of weeks. The other dealer had the same car with the mud flaps for about $300 more out the door. And I bought two cars (one in 2013 and one in 2014) from that dealer so I think that was the best they could do. How much are others paying?

 

[NightHawk]

How much are others paying?

In Southern California a few Ford dealers will add a dealer discount of up to $2000+ more off MSRP, but of course the sales tax is higher here too compared to in your area.
Though the best deals can usually be made in the last few days of a quarter (end of Sep, end of Dec, etc)
I thought I got a great deal with $2700 discount off of MSRP last month on Sep 29, but Ford did that strange unexpected thing of lowering the MSRP right after the end of the 3rd quarter a couple weeks later!

 

[focussed]

How much are others paying?

I purchased FFE before the Ford dropping MSRP on the Oct 13. My deal was 1000 below invoice which came to $2960 below MSRP + $6000 Ford Discount - Purchase price $28275 + Tax, Doc, Lic in California.

I missed the ford additional $4000 price drop by 3 days.

 

[sdsalsero]

When I enter my zip, 92101, on the Ford web-site it shows me this lease offer:

• $29,995 capitalized cost
• -$10,000 available incentives
• $19,995 net cost
• $1990 down payment
• $182/mo for 36 months

What is that $10k of 'available incentives' ? Is that supposed to be the Federal and State tax rebates? If so, I thought I had read that those are only applicable to the leasing company?

This seems like a crazy good deal but am I missing something? For instance, they don't mention the residual. Is it really high, i.e., you're not really paying off the car, at all? (So if you wanted to keep the car you'd still owe a lot.)

Thank you for any clarification!

 

[WattsUp]

What is that $10k of 'available incentives' ? Is that supposed to be the Federal and State tax rebates? If so, I thought I had read that those are only applicable to the leasing company?

Yes, but most of the tax savings are passed on to you in the form of leases incentives. You still benefit!

Well, I say "yes", but it is just the federal tax credit (which, you are right, the lessor claims, not the lessee) that would be part of the lease incentives, although Ford is very likely including other incentives of their own. In any case, apparently it all comes out to $10K.

But, as an EV lessee in CA, you can still additionally collect the $2500 state rebate (as long as you lease for at least three years). This is just a straight-up check sent to you... nothing to do with taxes. Owners and lessees are both eligible.

So, hold on to your batteries... chop another $2500 off this deal! You could consider the net cost $17,495. Or, consider your down payment and first couple months already paid for.

And none of these numbers include your savings (versus an ICE car) from not buying gas, not paying for oil changes, etc. that will accrue over the three years of leasing (and easily several thousands of additional savings).

All that said, your question about the residual payment is a good one. I don't know the answer.

 

[hybridbear]

When I enter my zip, 92101, on the Ford web-site it shows me this lease offer:

• $29,995 capitalized cost
• -$10,000 available incentives
• $19,995 net cost
• $1990 down payment
• $182/mo for 36 months

What is that $10k of 'available incentives' ? Is that supposed to be the Federal and State tax rebates? If so, I thought I had read that those are only applicable to the leasing company?

This seems like a crazy good deal but am I missing something? For instance, they don't mention the residual. Is it really high, i.e., you're not really paying off the car, at all? (So if you wanted to keep the car you'd still owe a lot.)

Thank you for any clarification!

That's an incredible lease deal!! I wish we could have gotten such a good deal.

 

[Williamffe]

If I lease the FFE in CA, is it a good idea to do no down payment and have a little bit higher monthly payment or do I pay additional fees some how? I heard dealers may play with the number so you may get screwed with no money down.

 

[triangles]

Take this with a big grain of salt. I've never leased a car before but I believe the way it's supposed to work is that the more you put down, the lower your payment is but you end up paying the same over the lease (36mo.). In rough figures, your total lease is new car price - incentives - residual. Using made up numbers for illustration, if the car price is $30,000 - $8,000 incentives - $12,000 residual = $10,000 lease price. If the total lease is $10,000 and you put $4,000 down then your monthly payment would be 166.67, (6,000/36). If you put $0 down it would be 277.78, (10,000/36). I'm not sure if it's this simple. I guess the only way to be sure would be to have the dealer quote it both ways and then look at the numbers.

The incentives are higher on a lease since since Ford gets the federal tax credit since they technically own the car. Also I'm not sure how they calculate tax on this, but I believe you have to pay tax on the incentive since the incentive is treated as a cash payment. Hopefully someone will correct me if I am wrong.

 

[hybridbear]

Take this with a big grain of salt. I've never leased a car before but I believe the way it's supposed to work is that the more you put down, the lower your payment is but you end up paying the same over the lease (36mo.). In rough figures, your total lease is new car price - incentives - residual. Using made up numbers for illustration, if the car price is $30,000 - $8,000 incentives - $12,000 residual = $10,000 lease price. If the total lease is $10,000 and you put $4,000 down then your monthly payment would be 166.67 (6,000/36). If you put $0 down it would be 277.78 (10,000/36). I'm not sure if it's this simple. I guess the only way to be sure would be to have the dealer quote it both ways and then look at the numbers.

The incentives are higher on a lease since since Ford gets the federal tax credit since they technically own the car. Also I'm not sure how they calculate tax on this, but I believe you have to pay tax on the incentive since the incentive is treated as a cash payment. Hopefully someone will correct me if I am wrong.

You're basically correct. The only piece missing is the money factor (interest rate) which determines your rent charge (interest paid) on the lease. But right now the rates are extremely low. Our 36 month lease has $17 in rent charge IIRC. Putting more money down up front means less balance subject to the money factor but it's not like a new car loan financing $35k at 0.9% versus $15k at 0.9% which is a large difference in cost.

 

[Williamffe]

@triangles thanks for the lease info.

 

[triangles]

@hybridbear thanks, I knew I was forgetting something.
@Williamffe you're welcome, glad I could help. I recently looked at leasing but decided to buy instead. 0% financing on buying is pretty convincing plus I don't have to worry about dings or keeping track of my miles.

 

[NightHawk]

If I lease the FFE in CA, is it a good idea to do no down payment and have a little bit higher monthly payment or do I pay additional fees some how? I heard dealers may play with the number so you may get screwed with no money down.

When I was at the dealer negotiating a little over a month ago (end of Sep), I had them run the lease numbers for the range of down payments including true zero down. I then totaled for each case all the 36 payments plus the down payment and compared. There was very little difference in the total (only a few dollars) due to the interest rate being so low <0.5%, so I went with true zero down. Thats also the safest since if your car was totaled in an accident very early on, you wouldn't lose the down payment. Even if I paid all the payments in advance in one lump sum, it wouldn't have saved much of anything - I asked about that option too.

At the Ford dealer I made my deal at for my 2014 FFE, the Ford lease cash (now $10,000 but back in Sep it was $11,750) worked very well. It paid for all the usual fees (tax,license,doc,acquisition,etc) up front so I didn't have to pay even one red cent before delivery. It even paid for the first month's payment! So I only pay for the 35 remaining monthly payments that include 8% local sales tax, my first payment was this week after having the car for over a month. I setup automatic payments from my checking account at the Ford Credit website.

Interestingly, the Ford Credit website has a link "View Current Purchase Price" that produces a PDF file that shows how much I could pay to purchase the car outright with two options. Buy it this month a little under $24,000 or at the end of the lease for about $15,000 (the residual value) - there is a about an $800 savings by paying the lump sum vs the remaining 34 monthly payments and the residual value at the end of the lease. Also I'm unclear if those amounts are all I would pay or if there is any other taxes or fees involved.

If the ~$24,000 total price for purchasing the car is the whole price (no other taxes or fees) thats pretty good since its lower than the negotiated price if I had purchased the car from the dealer back in late Sep and not leased it, the price then after Ford and dealer discounts was ~$27,300 + tax&fees, probably >$30,000. I couldn't take advantage of the $7500 federal tax credit, so I went with the lease but I have already gotten the $2500 California tax rebate check qualified, just waiting for them to send it out now.

Of course now with the new lower Ford MSRP, I would think you should be able to get an even better lease deal and lower purchase price by a few thousand?

 

[Williamffe]

@nighthawk, thanks for your insight. I'm hoping there going to offer same lease deal with the 2015 FFE, I think the interior looks a little better.

 

[Williamffe]

When I use the Ford lease calculator for 3 yr lease, no down, 10,500 miles, $238 month, and $883 due at signing which does not include tax, title and registration, but does include first month payment. So, what is the rest of the money due at sighing ($645) for?

 

[jachady]

The $645 is Fords' Acquisition Fee.

 

[NightHawk]

Yep thats the acquisition fee plus the first month's payment.
But the Ford website calculator doesn't include local sales tax.
Also at the Ford dealer I got my 2014 FFE lease at, the Ford lease cash paid for all the fees, so it was true zero down for me - it payed for the first month's payment, sales tax, license and doc fees, acquisition fee, etc.
So the Ford website calculator only gives you a ballpark figure, not exactly what you get at a dealer.

 

[Stretch2727]

Jachady....

Any update on the 2015 rebates? Will they be the same as the 2014. Is it possible to order a 2015 at this point? If you order a factory built car are the rebates the same?

 

[jachady]

The current rebate on the 2015 is $2000 and 0% for 36, .9% for 48 or 1.9% for 60 months. There are no lease programs showing yet. We can order a 2015 right now, however I have been told that it may be April before we see the cars. If you order a car, we lock in the current rebates so you know you won't pay any more. However we check when the car comes in and if the rebates went up, we pass that along to the customer.