Lease Payments?

bburk00

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Something isn't right here. Definitely make sure you are getting the proper rates. The Ford website won't include registration fees so it will end up a little higher.
Thanks MrRossKeys, I directed them on where to look for the correct Option Plan information as Hybrid2Bev pointed out above. They've corrected everything and came back with a monthly payment of around $758. Unfortunately they won't honor the x-plan on the FE but would on the Premium or below. This is the response I got from them once I told them where to look:

"Thanks to you, we are now familiar with it!!"
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Jay_CincyOH

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Not exactly. It gets factored into the residual. That's why the residual is higher with RCL than Options.
Just got an RCL quote from the dealer for my soon to be delivered Premium standard range, RWD - 10.5K miles and $2500 down and like others, got huge sticker shock!

Even with X-plan and a $500 X-plan rebate, the 59% residual equates to over $700/month for 36 months.

This is a full $150 more per month than my i3 lease, which had a $5k higher list price and I put the same money down. He said the Federal Tax Credit is not included in the lease, so I'm assuming this is the issue. Waiting for the Ford Options quote. What other questions should I be asking?
 

back_at_it_19

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Thanks MrRossKeys, I directed them on where to look for the correct Option Plan information as Hybrid2Bev pointed out above. They've corrected everything and came back with a monthly payment of around $758. Unfortunately they won't honor the x-plan on the FE but would on the Premium or below. This is the response I got from them once I told them where to look:

"Thanks to you, we are now familiar with it!!"
The FE is a premium with an option package and qualifies for xplan. Xplan price is right on their invoice.
 

buffasnow

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Unfortunately they won't honor the x-plan on the FE but would on the Premium or below.
Um, the FE is a Premium with the FE option package. Premium 4X is K3S, 99U, 44A with 300A Standard Package. FE is K3S, 99U, 44A with 301A First Edition Package.

The FE is functionally identical to the Premium 4X, but costs $3600 more. Not going to argue about the price differential, but saying that X Plan is ok on PE but not FE is insulting, as well as incorrect per many previous posts here.
 


MrRossKeys

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Unfortunately they won't honor the x-plan on the FE but would on the Premium or below. This is the response I got from them once I told them where to look:
As others have mentioned, they are incorrect (or flat out lying) about X-plan. My dealer also tried to pull something similar saying that this car did not qualify for X-plan. I was calm and confident telling him that it did apply to this vehicle and that I had proof (via a screenshot of the Mach-E listed with X-plan pricing). He had to ask his GM but ultimately honored it.
 

prdude

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Not exactly. It gets factored into the residual. That's why the residual is higher with RCL than Options.
Thanks, for clarifying this point. The info I just got from my dealer salesperson was 55% residual after 3 yrs for RCL. So, it helps to know that is already considering the $7500 federal credit going to Ford Credit
 

generaltso

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Thanks, for clarifying this point. The info I just got from my dealer salesperson was 55% residual after 3 yrs for RCL. So, it helps to know that is already considering the $7500 federal credit going to Ford Credit
If you haven't already, it would be wise to also run the numbers for 36mo Options. The residual is lower (around 42%), but you could qualify for the $7500 tax credit, the $2500 Options rebate, and the lower interest rate of 2.25%.
 

prdude

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I don't think my dealership knows what the are doing at all. They also charged me sales tax on my cash down payment and just told me that the rate is 5.47% not 2.25% even though my credit score is in the 800s.
my dealer just told me the money factor for a 3-yr RCL is 5.4% ..... sounds like they're not giving you info for Ford Options (my dealer also seems to be uninformed regarding Ford Options)
 

back_at_it_19

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As others have mentioned, they are incorrect (or flat out lying) about X-plan. My dealer also tried to pull something similar saying that this car did not qualify for X-plan. I was calm and confident telling him that it did apply to this vehicle and that I had proof (via a screenshot of the Mach-E listed with X-plan pricing). He had to ask his GM but ultimately honored it.
Can u share an FE xplan screenshot? U mean an invoice? Not sure I’ve actually seen one other than a premium.
 

MrRossKeys

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Can u share an FE xplan screenshot? U mean an invoice? Not sure I’ve actually seen one other than a premium.
Hmm... Luckily I didn't have to show the screenshot to the sales guy ??... Looking for it now I realize that it doesn't specifically say "First Edition."

However, I didn't have to tell the dealer that the First Edition is actually a Premium. Once I pushed back on them they made it happen. It should be common knowledge for any dealer salesman with the proper understanding of the Mach E that the trim of the FE is Premium...

Ford Mustang Mach-E Lease Payments? Screen Shot 2021-02-17 at 10.29.55 AM
 

Orangefirefish

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Purchase Price : $54,801

Sales tax (Santa Clara County) : 9% = $5301.09

Total Cash Price : $60,102.09

Down Payment : -$5700
Trade-in : $0

Unpaid Balance after down and trade : $54,402.09

Registration and other fees (specific to my location): $811

New unpaid balance : $56,024.09

FORD OPTIONS
APR : 2.25%
Term : 48
Residual value for ballon payment : 37%
Adjusted Options Financing : $35,295.18
Residual (Final Payment) : $20,728.91
Annual Mileage : 12,000
Thanks for sharing. I’m surprised the residual is calculated after the down payment and after the incentives and x-plan, as opposed to a flat rate that is the same based on which trim, ie $58.7k x 37%. That would suggest to those of us intending on using this like a 3 or 4 yr lease that we’re only getting part of those incentives since they lower the residual of the car. Seems like a down payment makes turning in the car a more difficult choice.
 

generaltso

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I’m surprised the residual is calculated after the down payment and after the incentives and x-plan, as opposed to a flat rate that is the same based on which trim, ie $58.7k x 37%.
The residual is a flat percentage based on trim. The percentage is different for Options and RCL.
 

back_at_it_19

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I wonder what financial calisthenics they're doing to get the lease down to this monthly price? This sign was on a Select and it case it's not visible, it says 36 month lease...
Ford Mustang Mach-E Lease Payments? IMG_0199
I bet they’re actually using Options to get that price.
 
 




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