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Did anyone get any information on lease pricing yet?
I plan to lease a new platinum.
I asked the moderators over at Edmnunds, who give out the rates so you can see if your getting screwed, and they have no idea. My dealer doesn't have a clue either. My guess is that it will be right as they begin arriving on lots.
I also am leasing, and I want to know ASAP what the rates are as it will determine what Trim I get in the Lariat and SC or CC. I know we will at least get $500-$1000 rebate on Red Carpet Renewal.
I plan to lease this truck simply so I'm not "married" to any potential first year growing pains. From what I'm told by my dealer, leasing rates won't be set until residual values are determined and those values are probably not known until all information about the truck is ultimately known (e.g. mileage, crash test information, or anything else that will effect its long term valuation).
I plan to lease this truck simply so I'm not "married" to any potential first year growing pains. From what I'm told by my dealer, leasing rates won't be set until residual values are determined and those values are probably not known until all information about the truck is ultimately known (e.g. mileage, crash test information, or anything else that will effect its long term valuation).
I tend to lease as I am always itching to get a new vehicle and not end up being upside down. I am fine with buying a piece of the pie and not the whole thing. I agree on your comments. I was told that almost HALF of F150's are leased.
I tend to lease as I am always itching to get a new vehicle and not end up being upside down. I am fine with buying a piece of the pie and not the whole thing. I agree on your comments. I was told that almost HALF of F150's are leased.
The residual value on current f150's is around 62% so lets pretend median agreed purchase price of the average truck is $45,000. In a lease your looking at around $475 a month vs a 72 month finance at well over $750 a month payment. So on the financial side it makes total sense to lease.
I always trade in my trucks at least a month or two before the lease is up to avoid all the bs fees plus I get away with modding my trucks without any issues from leasing company cause you sell it to the dealer as is.
The residual value on current f150's is around 62% so lets pretend median agreed purchase price of the average truck is $45,000. In a lease your looking at around $475 a month vs a 72 month finance at well over $750 a month payment. So on the financial side it makes total sense to lease.
I always trade in my trucks at least a month or two before the lease is up to avoid all the bs fees plus I get away with modding my trucks without any issues from leasing company cause you sell it to the dealer as is.
Remember that if you don't always lease, you have a trade-in to factor into the amount financed. Even so, you have to pay over 6% before you get to a $750 payment on $45k over 72 months. At what BankRate says is a current 3rd-party rate (2.4%) and figuring the trade on my '07 ($15k), that $45k truck would be just under $450/month on a 6 year note.
If you like a new vehicle every 3 years and don't drive too many miles, leasing is competitive. If you're getting a vehicle for a business the tax features of a true lease make the number work (not the consumer "lease" that's offered in states like Texas, which is really structured as a balloon-note loan). If you can keep a vehicle for a while, though, leasing doesn't have the same kind of numeric advantage, and you never get those years when you have no payment at all.
I used to lease all of our vehicles. I then started buying and holding all of our vehicles. However, after I sold these owned vehicles and looked back on the total ownership costs, I was surprised that owning was not that much cheaper (per year) than leasing a comparable vehicle. With ownership, I had tires, brakes, bigger maintenance events, out-of-warranty repairs, windshields, etc. that added to the overall cost of ownership. With a lease (2-3 year), many of those items don't get added.
I'm not trying to paint with a broad brush to say that leasing is the end-all, be-all, but I was surprised to see that I wasn't really saving that much money with long"er" term ownership.
In the interest of full disclosure, I drive 10-12,000/year/vehicle and lease for 2-3 years or own for about 6-7 years.
Moreover, with advancements in fuel economy, new vehicles tend to provide reduced usage costs compared to older vehicles.
Obviously, there are a lot of factors that go into these decisions, but simply "running the numbers" should help determine if leasing or owning is better for you.
TonyG FXR and MP15TDriver:
Can you comment/compare on the below 2014 KR lease quote? Keep in mind this is for my business, done for tax reasons. I would like to compare it to a similarly equipped 2015. I drive approx. 35k miles/yr and wondering if there is a possibility of avoiding the mileage hit? Dealer mentioned I could prepay for mileage at $0.2 vs $0.25 at the end of lease.
Any thoughts?
Thanks,
Jared
He will post you the EXACT numbers from Ford including rebates.
MILEAGE WARNING
Be careful as some Dealers will give you the lower Residual and higher Money Factor for your mileage, then say you can buy down your mileage and prepay. You don't want to get the higher factors, and still pay per mile. That is NOT how it works.
They ONLY time you PREPAY for miles is lets say you lease a car with 18k per year (3 yrs) and you think that is going to be enough but may go over (I refer to as the Safety Factor). Rather than paying the higher factors (what it will be worth in 3 yrs with MORE miles), you can prepay without taking the hit for TELLING them your going to drive 20k. I did this on my Mazda and bought 6000 extra miles @ 10 cents instead of 20 cents. This means when I turn in vehicle it can have 6000 extra, without penalty. Its a numbers game. You have to decide (in this case) if $600 out of pocket now is cheaper then telling them you want lease rates for 20K a year or paying $1200 at end in lease.
I may not have explained all this above well, but hopefully it points you in the direction that you can at least understand.
10-22-2014, 01:49 PM
