My Current Lease offer

[Mikev0418]

Currently I'm working when a dealership to lease a 2024 Mach E Rally.

Sell Price: 61K
Trade in: 33 K
Cash to me : 15K
Own left on the car 14K
Down (additional equity) : 4K
Monthly: $500
Months : 36
Miles: 10,500

How does this sound?

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[MonkeyNutz]

I’m assuming the cash to you is whatever discounts/incentives they’re offering on the ‘24 close-out plus the $7500 fleet credit? If I’m understanding all the other numbers right, the residual on the car is $23K after all is settled paying off your existing…. So you will be spending $18K ($500 * 36) to lease a vehicle that has a $23K residual at time of signing, only allowed to drive it 10,600 miles/year (?) and still have to pay a buy-out at the end or turn it in?

IMO, this is not a good deal . What are the buy-out terms? That is what will make or break this. And I’m assuming you intend to buy out if you’re investing that much up front.

 

[HuntingPudel]

Whether it is a good deal kind of depends on if you are planning to buy it at the end of the lease and whether you are comparing it to purchasing the same car or you’re comparing to another deal. The incentives look good. I got $13.5K in incentives on my GT’s lease at the end of November, plus a great trade-in value on my 2021 GT-PE (even though I owed more on it than the trade-in value, the trade-in was almost $2K over the highest trade-in I had seen for a 2021 GT-PE). ?‍?

 

[4sallypat]

NEVER put a down payment on a lease.

Your down payment money will never get returned should your car gets totalled or stolen, it's gone.

Lease rule #1: Pay the least amount possible out of your pocket.

Separate your trade from the purchase.

Pay for only the tax, title, license, first month + tax.

Use their money - not yours.

If the money factor (interest) can be brought down by making an MSD, then yes, it's refundable.

 

[dalola]

Agree with the above poster, never put money down on a lease, keep any cash owed to you. And keep in mind, you'll pay $.25/mile if you go over your 10,500/yr. That's a really low mile lease, but maybe it works for you, just be aware of the over mile charge, it can add up in a hurry if you drive a lot. Focus on your total cap cost reduction, and your MF, that will determine how good your lease is. The buy out is set by Ford, and not negotiable.

 

[4sallypat]

.... Focus on your total cap cost reduction, and your MF, that will determine how good your lease is. The buy out is set by Ford, and not negotiable.

100% correct!

@Mikev0418 Focus on your cap cost reduction (CCR) which should be all the dealer incentives and lease cash by Ford RCL.

Your MF can be jacked up by the dealer so beware..
Always negotiate for the base MF.

Buy out is also called residual value (RV) and set by the leasor (Ford).

For more details on any lease deal, I always check out the authoritative leasing forum: LEASEHACKR.

 

[GreaseMonkey]

Currently I'm working when a dealership to lease a 2024 Mach E Rally.

Sell Price: 61K
Trade in: 33 K
Cash to me : 15K
Own left on the car 14K
Down (additional equity) : 4K
Monthly: $500
Months : 36
Miles: 10,500

How does this sound?

Never put a single penny down on a lease.

Id negotiate the net sale price like you would on any other transaction. Leasing vs financing vs paying cash is a financing lever, not to be confused with the deal you are negotiating with the dealer.

Edmunds has the best lease calculator that helps you focus on RV and MF, both along with the net sale price allows you to compare apples to apples.

 

[tucsondivots]

Agree with the above poster, never put money down on a lease, keep any cash owed to you. And keep in mind, you'll pay $.25/mile if you go over your 10,500/yr. That's a really low mile lease, but maybe it works for you, just be aware of the over mile charge, it can add up in a hurry if you drive a lot. Focus on your total cap cost reduction, and your MF, that will determine how good your lease is. The buy out is set by Ford, and not negotiable.

Leased my 2024 Premium last September. Also 10,500 miles per year. My first lease. Is the 10,500 miles checked every year or just at the end of the lease period? So, if I drove 12K miles per year the first 2 years I am fine as long as the mileage at the end of the lease is 31,500?

 

[dalola]

Leased my 2024 Premium last September. Also 10,500 miles per year. My first lease. Is the 10,500 miles checked every year or just at the end of the lease period? So, if I drove 12K miles per year the first 2 years I am fine as long as the mileage at the end of the lease is 31,500?

Yes, as long as you keep it for the full term, you can juggle the mileage each year, and keep your total. If you turn it in early however, Ford will prorate the mileage based on the annual allowance. So if you decide to turn it in early after one year, with 12K miles, you would get charged $.25 for 1500 miles.

 

[Graction]

I’ve never leased but considering it now as my 2022 ford options is up in March and balloon is more than it’s worth. Looking at a 2024 GT. What can you negotiate on a lease? Is the MF negotiable? The residual?

 

[dalola]

I’ve never leased but considering it now as my 2022 ford options is up in March and balloon is more than it’s worth. Looking at a 2024 GT. What can you negotiate on a lease? Is the MF negotiable? The residual?

Generally, the residual is set by the manufacturer, and is not negotiable at the time of the lease. But everything else is fair game. Pay attention to your mileage allowance, and never put money down. Keep in mind, lease terms will be affected by both the manufacturer & the dealer, so, just like a purchase, you will get very different deals from dealer to dealer. If you're willing to put in the legwork, great deals are out there. Good luck.

 

[Keep-Iterating]

Check out this link:
Auto Companion - Mustang Mach E
You'll have to put in your MSRP, zipcode and specifics, but it knows all the current deals.
Excellent calculator that knows all the current deals (incentives, MF discounts, residuals, etc.)

Agree with others above, never put money down or trade in a vehicle on a lease. If you total the vehicle a week later, your money down is GONE! The vehicle gets paid off by your insurance company / GAP insurance, and you get nothing. Sell your current car to Carmax or similar and pocket the cash.

I just leased a 2024 MME Premium AWD Ext Range with the Glass Roof for low $500s for 36 mo. Didn't give one cent at signing, just drove away. They're also including the Level 2 Charger install in your home or a $1000 credit if you don't need it or want to do yourself. In addition to incentives, you should also expect a 10-12% discount off the MSRP. I live in Texas and you have to pay full taxes on the price of the car when you lease.

 

[DaddyDeuce]

I’ve never leased but considering it now as my 2022 ford options is up in March and balloon is more than it’s worth. Looking at a 2024 GT. What can you negotiate on a lease? Is the MF negotiable? The residual?

A lease is an agreement between you and the finance company. The dealer is the middleman making it happen. You can't negotiate the MF or residual with the finance company.

However, the MF the finance company offers is called the "buy rate". Often the dealer will quote you a higher MF and the finance company lets the dealer pocket the additional profit. You should make sure you are only paying buy rate.

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