Do these lease numbers seem right?

[NorthShoreMaverick]

71.6% residual sounds exceptionally high. Checking on Edmunds an AWD XLT should be more like 62%. Also Ford's money factors on the Maverick aren't spectacular; like 3.6% APR. Even with a more favorable money factor like 2.88% Edmunds and Leasehackr are giving me ~$400 like you were quoted.

I was able to do the math based on ford website too of a similar priced maverick and it did come out around $399 with taxes added.

I really appreciate this chart as it really helps make me feel a little bit at ease.

I may go in and see if I can get $350 a month and see what they say and maybe say I think the residual is a little high.

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[FakeCowboy]

I was able to do the math based on ford website too of a similar priced maverick and it did come out around $399 with taxes added.

I really appreciate this chart as it really helps make me feel a little bit at ease.

I may go in and see if I can get $350 a month and see what they say and maybe say I think the residual is a little high.

So you want them to lower the residual?

 

[NorthShoreMaverick]

So you want them to lower the residual?

Well goal is to lower the monthly payment lol
Not much leverage these days

 

[FakeCowboy]

Well goal is to lower the monthly payment lol
Not much leverage these days

I'm pretty sure the lower the residual the higher the lease payment. You're paying for the depreciation of the vehicle plus interest so the higher the residual, the lower the depreciation.

 

[NorthShoreMaverick]

I'm pretty sure the lower the residual the higher the lease payment. You're paying for the depreciation of the vehicle plus interest so the higher the residual, the lower the depreciation.

You’re right. My head has been spinning the last few days. But all in all 399 a month seems like a fair price in this market.

 

[Thrillhouse]

Well goal is to lower the monthly payment lol
Not much leverage these days

You would need to negotiate the sales price and not the residual. It will probably be difficult to negotiate given how in demand these trucks are.

 

[volksnuts]

I don’t see how leasing a Maverick is the right choice in this current market
I know the values won’t stay as high as they are right now but interest rates are low
Seems like buying is the better option

Plus anyone that buys to a payment shouldn’t be buying/leasing a new car

Few situations I can think of where that makes sense

Now just looking at the lease it seems like that deal is not a good deal
They are putting money in there somewhere that you shouldn’t have to pay
Leasing a $31k vehicle should have you well under $300 especially given current market numbers…. Unless they are banking on used car values dropping to near nothing in 3 years (possibility, I know I am)

 

[n0maverick]

You’re right. My head has been spinning the last few days. But all in all 399 a month seems like a fair price in this market.

$399 it right. that's what a lease will be at MSRP give or take depending on taxes. That residual number they gave you incorrect. and if it is correct go with ford. You'll owe at least $3-4k less after you lease. So if the residual number they gave you is correct the bank they are using is counting on this market to continue and the dealer is screwing you on the rate massively.

Ford red carpet leases are great. They include property tax in their payment as well so you don't have that chunk of change every december to think about. (if you are in a state with personal property tax) Which kind of lame since you don't own the car. They do. They (finance company) pays the property tax. They just bill you for it.

A downside of lease is $650 aquisition fee added to price and most lenders will only let the leesee buyout out the lease not a 3rd party anymore due to the soring prices. So no quick profit from carvanna, vroom, non-ford dealer trade in's. If you buy you have the freedom to sell at any time for profit or otherwise. But again, if in a state with sales tax you do take that hit. At 4-5% 84 mo loan will end up costing about the same as a lease over 7 years if you want the freedom to do as you please and have a cheap payment.

 

[Darnon]

Leasing a $31k vehicle should have you well under $300 especially given current market numbers…. Unless they are banking on used car values dropping to near nothing in 3 years (possibility, I know I am)

$300/mo is pretty unrealistic these days for a $31k+taxes vehicle unless it's something with crazy residuals like a Tacoma/Wrangler, incentivized residuals (99% Frontier 18-month), or cap cost reductions like PHEV/EV rebates.

 

[FakeCowboy]

I don’t see how leasing a Maverick is the right choice in this current market
I know the values won’t stay as high as they are right now but interest rates are low
Seems like buying is the better option

Plus anyone that buys to a payment shouldn’t be buying/leasing a new car

Few situations I can think of where that makes sense

Now just looking at the lease it seems like that deal is not a good deal
They are putting money in there somewhere that you shouldn’t have to pay
Leasing a $31k vehicle should have you well under $300 especially given current market numbers…. Unless they are banking on used car values dropping to near nothing in 3 years (possibility, I know I am)

I think it's not really appropriate to use your personal preferences to make assumptions about other people's situations. I am leasing. I run a small side business and leasing makes way more sense especially on a vehicle with questionable reliability and when my lease payments are tax deductible.

 

[Darnon]

I may go in and see if I can get $350 a month and see what they say

If they're feeling generous $20/mo off could maybe be doable. $30/mo off and it's probably getting close to invoice price on the front end so I'd say $50 is probably a pipe dream.

While I'm not in-depth familiar with the intricacies of leasing in NY it looks like they charge more if you capitalize the taxes. So I'd make sure to explicitly cover the taxes with your deposit/down payment and pay a little more to do so in full (looks like ~$1200?)

 

[volksnuts]

I think it's not really appropriate to use your personal preferences to make assumptions about other people's situations. I am leasing. I run a small side business and leasing makes way more sense especially on a vehicle with questionable reliability and when my lease payments are tax deductible.

That would fall under the category of few situations where it makes sense.
Which I stated in my post

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