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Discussion Starter · #1 · (Edited)
So I realize normally one would say when you Lease you don’t come out ahead vs purchasing then selling down the road (maybe if keeping the truck for a long time vs short term lease).

Have a seen a few post on the internet where in certain parts of the county 24 month lease rates could be as low as .24%, south florida in my case. Though figure it will be several months before one could actually lock in a lease since figure it reqhires a truck vin number to be assigned.

Seems the XTL is supposed to have a 4% higher value vs XL after two years of use so guess that would make it somewhat better then getting the XL trim on lease. Which as it turns out, the XT will not be available for lease anyway.
 

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I will never recommend a lease. You get an added lease fee right off the bat. Acquisition fee of $645. Usually have to add an additional few hundred disposition fee at the end of the lease plus damages and overage mile fees. You are assuredly paying money for nothing at the end of 3/4 years. Just a bad decision in my opinion. Never know if your driving habits will change considerably and your mileage goes through the roof.

These numbers are form the Ford Maverick builder site. I can’t upload a photo for some reason.

$281 a month payment for 36 months plus $2,659 due at signing and assuming 1,200 in return fees. That is $13,975 for the 3 years and only 31,500 miles. This is on a $24,000 build.
 

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On the build site ford offering great rates 0%/36 months, 0.9% 48 months, 1.9% 60 months. At those rates no brained in my mind, don't lease. Valid toll 9/30. Don't know if you can lock them in now, called my dealer, waiting for call back
 

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Leases are just an alternate way to finance a vehicle. To blanketly say that they are good or bad is wrong. There are many cases where leasing makes sense it all depends on the individual's needs and how the programs are.

When leases make sense:

You drive high miles-Yes. But be realistic with what you drive. If you drive 20,000 miles a year, build a 20,000 mile a year lease, don’t buy a 10,000 a year lease and expect your habits to change by it’s self. Building your miles up front in a lease tend to be less expensive than the charges at the end, in some cases by 50%, ask. Some leases will also refund you the extra miles that you paid for if you don’t use them, again ask. Nothing depreciates a car faster than miles on the odometer, let the leasing company take the hit of depreciation.

You come to the realization that you will always have a car payment- If you know that you will have a car payment. If thats the case, why not be in a new car every 3 years and be under warranty and risk extra expenses of out of warranty maintenance? Using that $32,000 car as a reference, putting 10% down and a tax rate of 8% along with an interest rate of about 4%, your payment is still $575 for 60 months and if you want a payment under $500, you have to go a whopping 72 months. Ouch.

You don’t keep a car more than 3 years- See above. Needs change, wants change. How often de we get tired of a ski after a season? not uncommon to get tired or bored with a car after three years.

You are out of equity on the car you are in- Yes it happens, you have a car that you want to trade and owe $10,000 on a car thats worth only $7500. Be it in a loan or a lease, that money has to go somewhere. Why I suggest the lease here is that with the GAP insurance that leases have, if the car is totaled at any point on the lease, you are forgiven that debt. In a purchase, that can still cary over. Am I saying that you will total a car? No, but this is a consideration. After the three years you are out of the out of equity cycle.

When leasing does NOT make sense:

You keep a car a long time- I bought my TDi wagon because I planned on keeping it a while, I am going on 4 years and I am happy with it and I plan on keeping it another 4. Leasing didn’t make sense for me in this purchase for that reason. My previous Forester I did lease because A. The lease deal was super strong and B. I only planned on keeping it 2 years (they had a good 2 year lease which is rare). It worked out well because I didn’t like the car.

You are rough on your cars or you modify them- Residuals (the projected future value which is part of the lease calculation) is based upon the vehicle coming back in “average” 3 year old condition so it can be resold. An aftermarket lowered suspension or custom paint job is frowned upon, stock as close to original is better. Now, adding leather or tinting windows tend to be fine but will not change the residual, but ask. So if adding leather is a cost of $1200 you will basically be “financing” the who amount over term of the lease so it will be about $33/mo (plus interest & tax) ) more in the lease. Again, there are exception some lease companies might give a flat projected residual for that leather of say $300 so you will be dividing $900 by the term so it will be $25 plus the other costs.
 

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While ford is offering great zero financing - be a bit carefull and do some math. If you chose Ford Financing - they will tack on an additional $675 "aquisition fee" to the price of the vehicle. if you finance outside Ford - that fee goes away!
 

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While ford is offering great zero financing - be a bit carefull and do some math. If you chose Ford Financing - they will tack on an additional $675 "aquisition fee" to the price of the vehicle. if you finance outside Ford - that fee goes away!

I think the acquisition fee is only a leasing thing. If you buy and finance it's not part of the financing. At least it's not on the estimate that the build prints out.
 

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Leases are just an alternate way to finance a vehicle. To blanketly say that they are good or bad is wrong. There are many cases where leasing makes sense it all depends on the individual's needs and how the programs are.

When leases make sense:

You drive high miles-Yes. But be realistic with what you drive. If you drive 20,000 miles a year, build a 20,000 mile a year lease, don’t buy a 10,000 a year lease and expect your habits to change by it’s self. Building your miles up front in a lease tend to be less expensive than the charges at the end, in some cases by 50%, ask. Some leases will also refund you the extra miles that you paid for if you don’t use them, again ask. Nothing depreciates a car faster than miles on the odometer, let the leasing company take the hit of depreciation.

You come to the realization that you will always have a car payment- If you know that you will have a car payment. If thats the case, why not be in a new car every 3 years and be under warranty and risk extra expenses of out of warranty maintenance? Using that $32,000 car as a reference, putting 10% down and a tax rate of 8% along with an interest rate of about 4%, your payment is still $575 for 60 months and if you want a payment under $500, you have to go a whopping 72 months. Ouch.

You don’t keep a car more than 3 years- See above. Needs change, wants change. How often de we get tired of a ski after a season? not uncommon to get tired or bored with a car after three years.

You are out of equity on the car you are in- Yes it happens, you have a car that you want to trade and owe $10,000 on a car thats worth only $7500. Be it in a loan or a lease, that money has to go somewhere. Why I suggest the lease here is that with the GAP insurance that leases have, if the car is totaled at any point on the lease, you are forgiven that debt. In a purchase, that can still cary over. Am I saying that you will total a car? No, but this is a consideration. After the three years you are out of the out of equity cycle.

When leasing does NOT make sense:

You keep a car a long time- I bought my TDi wagon because I planned on keeping it a while, I am going on 4 years and I am happy with it and I plan on keeping it another 4. Leasing didn’t make sense for me in this purchase for that reason. My previous Forester I did lease because A. The lease deal was super strong and B. I only planned on keeping it 2 years (they had a good 2 year lease which is rare). It worked out well because I didn’t like the car.

You are rough on your cars or you modify them- Residuals (the projected future value which is part of the lease calculation) is based upon the vehicle coming back in “average” 3 year old condition so it can be resold. An aftermarket lowered suspension or custom paint job is frowned upon, stock as close to original is better. Now, adding leather or tinting windows tend to be fine but will not change the residual, but ask. So if adding leather is a cost of $1200 you will basically be “financing” the who amount over term of the lease so it will be about $33/mo (plus interest & tax) ) more in the lease. Again, there are exception some lease companies might give a flat projected residual for that leather of say $300 so you will be dividing $900 by the term so it will be $25 plus the other costs.
I think the acquisition fee is only a leasing thing. If you buy and finance it's not part of the financing. At least it's not on the estimate that the build prints out.
That is correct. The acquisition fee is strictly a leasing fee. Leases also have a disposition fee as well.
 
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