Whats your trade value?
#11
Senior Member
They didn't use MSRP as your negotiated price did they? (this would be your cap cost reduction in the equation).
MRSP can ALWAYS be negotiated in a lease. Also, I have seen as much as 5,000 in LEASE cash. be sure to ask!
your money factor would have been 0.00145.
Money factor varies by vehicle.
you can always get the current residual values and money factors on Edmunds.com
Keep in mind that lenders can/will raise the money factor based off your credit worthiness. 750- and up credit score basically.
So, not sure this had a play in your higher money factor of 3.5%
(can't determine whether the dealer is upping it for profit, or its based on credit).
MRSP can ALWAYS be negotiated in a lease. Also, I have seen as much as 5,000 in LEASE cash. be sure to ask!
your money factor would have been 0.00145.
Money factor varies by vehicle.
you can always get the current residual values and money factors on Edmunds.com
Keep in mind that lenders can/will raise the money factor based off your credit worthiness. 750- and up credit score basically.
So, not sure this had a play in your higher money factor of 3.5%
(can't determine whether the dealer is upping it for profit, or its based on credit).
#12
Senior Member
Thread Starter
I have no clue what my current MF/residual is..
I have a salesmen hunting down a needle in a haystack (for my area at least) before we talk numbers. Nice knowing MF can be as low as 1% (edmunds said 6% avg)
My credit 719/733 based on credit karma which tends to be lower than a real check. This would be my 5th auto (4th through Ford) So qualifying shouldnt be a problem. Just Monthly payment is looking like its not gonna be under $400
Looking for a F150 Lariat, 4x4, 3.5 eco with 157" wheelbase in Lithium Grey. Roughly $51-57 MSRP
Current best offer is $3k equity
I have a salesmen hunting down a needle in a haystack (for my area at least) before we talk numbers. Nice knowing MF can be as low as 1% (edmunds said 6% avg)
My credit 719/733 based on credit karma which tends to be lower than a real check. This would be my 5th auto (4th through Ford) So qualifying shouldnt be a problem. Just Monthly payment is looking like its not gonna be under $400
Looking for a F150 Lariat, 4x4, 3.5 eco with 157" wheelbase in Lithium Grey. Roughly $51-57 MSRP
Current best offer is $3k equity
#13
Senior Member
they normally use your FICO score, and on some of them "free" sites they don't really list your FICO score. and you'll get three different scores from all three bureaus.
I have no clue what my current MF/residual is..
I have a salesmen hunting down a needle in a haystack (for my area at least) before we talk numbers. Nice knowing MF can be as low as 1% (edmunds said 6% avg)
My credit 719/733 based on credit karma which tends to be lower than a real check. This would be my 5th auto (4th through Ford) So qualifying shouldnt be a problem. Just Monthly payment is looking like its not gonna be under $400
Looking for a F150 Lariat, 4x4, 3.5 eco with 157" wheelbase in Lithium Grey. Roughly $51-57 MSRP
Current best offer is $3k equity
I have a salesmen hunting down a needle in a haystack (for my area at least) before we talk numbers. Nice knowing MF can be as low as 1% (edmunds said 6% avg)
My credit 719/733 based on credit karma which tends to be lower than a real check. This would be my 5th auto (4th through Ford) So qualifying shouldnt be a problem. Just Monthly payment is looking like its not gonna be under $400
Looking for a F150 Lariat, 4x4, 3.5 eco with 157" wheelbase in Lithium Grey. Roughly $51-57 MSRP
Current best offer is $3k equity
#14
Senior Member
Thread Starter
1 dealer quoted me $720 a month for a lease of MSRP $57k with 1,100 down. Told him hes on crack. Going to another place tomorrow hoping for better numbers.. really dont want a XLT but price is looking like its xlt
#15
Senior Member
Yes, he was gonna take you for a ride all right....I would have asked for a number by number breakdown.
the BEST leases are the ones with NO MONEY DOWN (and they do exist, both of mine no money down, '16 Malibu $200 month / '16 Silverado Double Cab $230 month- including all taxes, fees, and taxes. 36 mos / 30000 miles)
FORD DEALER quoted me $440 a month LEASE on a '15 TAURUS... No thanks! I've NEVER seen a good lease on any FORD vehicle.
Go online and use a lease calculator, they are pretty accurate if you have all the factors to key in
the BEST leases are the ones with NO MONEY DOWN (and they do exist, both of mine no money down, '16 Malibu $200 month / '16 Silverado Double Cab $230 month- including all taxes, fees, and taxes. 36 mos / 30000 miles)
FORD DEALER quoted me $440 a month LEASE on a '15 TAURUS... No thanks! I've NEVER seen a good lease on any FORD vehicle.
Go online and use a lease calculator, they are pretty accurate if you have all the factors to key in
#16
Senior Member
If you're wanting to lease, you're looking at the wrong brand of trucks. Ram and GM are very likely to give you better deals. Ford doesn't care. They sell them easily enough.
#17
Senior Member
Thread Starter
Just left the dealer which had all good numbers on trade and new f150
but 63% residual and 6.7550%APR which I thought was not that great. What does everyone think?
but 63% residual and 6.7550%APR which I thought was not that great. What does everyone think?
#18
I went to a Ford dealer yesterday to see if it was possible to trade in my 2013 F-150 SuperCrew Lariat with the Max Towing Pkg, Chrome Appearance Package & 6.2L engine at 95k miles and get a new body.
The dealer said that I don't have enough time on my current finance (10 payments made, 11 in two weeks) to even consider a trade in and that he would ballpark the truck at $18k and $15k after 100,000 miles which I thought sounded low.
Is any of this correct? This was my first financed vehicle and my first time trying to trade in, obviously.
The dealer said that I don't have enough time on my current finance (10 payments made, 11 in two weeks) to even consider a trade in and that he would ballpark the truck at $18k and $15k after 100,000 miles which I thought sounded low.
Is any of this correct? This was my first financed vehicle and my first time trying to trade in, obviously.
#19
Senior Member
Yep a 2wd truck without some amenities is worth in the 20s mid to high ( if you are lucky). But the dealer will make it back elsewhere. Why are you leasing? U have no equity and seems no money to put down? Keep your vehicle and invest....
Or sell to Carnax like they said.
Or sell to Carnax like they said.
#20
Senior Member
WHAT??? I've never heard of such a money factor. I would have demanded to ask what the LENDER approved you for and WHY the dealer was contracting you in at 6.7550% for..
That's a money factor of 0.00282....
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Well, I do stand corrected, I went back and did some research on another forum, and it appears
that money factor/apr with FORD is much much higher than chevy and ram. That's strange.
That's a money factor of 0.00282....
************************************************** *****************************
Well, I do stand corrected, I went back and did some research on another forum, and it appears
that money factor/apr with FORD is much much higher than chevy and ram. That's strange.
2016: 6.50% APR and 64% residual.
2015: 3.75% APR and 60% residual.
These are ballpark figures and differ depending on model, but it does show MF is higher with Ford. Residual is about where it should be as well.
2015: 3.75% APR and 60% residual.
These are ballpark figures and differ depending on model, but it does show MF is higher with Ford. Residual is about where it should be as well.
Last edited by gregsf150stx; 05-28-2016 at 05:15 PM.