2014 focus lease, contract attached

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happyahab

Member
Joined
Mar 26, 2014
Messages
10
Location
San Diego, CA
Short story:
$3k down, 12k miles/year, $223/month w/ taxes, 3 year lease, leather (custom), white exterior
Thank you for others posting their lease numbers by the way. Gave me a good feeling of confidence I got decent deal even after shopping it around to 5+ dealers in San Diego.

As far as the contract goes, I could use some help from people who are better at this than I am.
1) I asked about 4 different ways but the F&I lady wouldn't/couldn't give me a straight answer. Sounds like GAP Insurance is built into this quote and "there is no way to remove it" according to her. That true??!!! I don't see it as a line item so I believe the built into the quote part, but I can't believe there's no way to remove it

2) I tried to get a deal on ford's wearcare. They were going to charge $750 something and wouldn't budge off the price. Y'all find dealers not budging from their price either? The $750 was crazy high and I was trying for $400. I would have taken $450 if she could have moved. But she stood firm. Any after market insurance companies that people know of which offer this type of thing?

3) Section 11, middle right .. acquisition fee = $645. What be that? She had her beat around the bush look when I asked her about this one too.

4) They were trying to beat a quote from another dealer and did not have leather on the lot. So they threw in what I would call an after market custom leather job. They gave me like 100+ swatch colors to choose from and they'll have a "west coast customs" type place put leather on the seats for me. Apparently they rip out the cloth and replace with leather. Any one else ever have a bad/good experience with that type of work? I'm fearing stitches coming apart year 2 and I have no one to yell at b/c the custom place has a 1 year warranty. In the least will my seat heaters still be as good as they were after the work is done?

Overall still a very good experience from Ken Grody Ford in Carlsbad, CA



 
happyahab said:
Sounds like GAP Insurance is built into this quote and "there is no way to remove it" according to her. That true??!!!
Hmm, I think they're misleading you. I was offered GAP by my dealer during my "final paperwork", but easily refused it.

If you really want it, you should be able to get GAP coverage from your normal car insurer, and almost certainly for less than what Ford is offering.

happyahab said:
I tried to get a deal on ford's wearcare. They were going to charge $750 something and wouldn't budge off the price.
Again, I refused this. This is like the "protection plans" they try to sell you at Best Buy whenever you buy something. IMO, it is a form of very expensive insurance (because you virtually never need it). Not worth it.

Remember, all these things they're trying so hard to get you to buy are because they are huge profit centers for the dealerships. They are greatly marked up services that you either don't need, or can get for less somewhere else.

happyahab said:
So they threw in what I would call an after market custom leather job.
I suppose there's always the chance the custom leather seats could be really awesome and unique, but I think I would be leery of potentially "ruining" a perfectly good set of factory seats for some "unknown quality" leather job.
 
Thanks for the points WattsUp

Some follow up from calls to Ford credit corporation this morning
- It's starting to sound like I'm in the minority of people that are trying to extract Gap insurance from a Ford lease. Everyone keeps saying it's packages into the lease and not an item that is/can be removed. On a purchase, it shows up as a line item if added on. On a lease, much more under the covers.
- The acquisition fee in section 11 threw off the people at ford credit as well. They couldn't speak in detail about it but it's starting to sound like its dealer profit more than anything. Ford credit did confirm it is not something that passes between Ford and the dealer, but it's more of a thing between the dealer and customer.
 
GAP insurance is automatic in a lease. Since Ford owns the car, they put the coverage on it. That way if you wreck the car and the value dropped the GAP insurance will pick up the tab, not Ford.

We sell WearCare for $575, at that it's a $200 profit to the dealer. Wearcare has huge benefits, it covers against excess wear and tear on the car. Door dings, small dents chips in the glass, stains on the interior etc. It also covers the tires if they have less than 50% tread left. On a 3 year 36000 mile lease, I will be close that the tires could need replacing. I never used to promote Wearcare until Ford hired a 3rd party inspector that gets paid to find things wrong.

The acquisition fee is charged by Ford to the dealer and yes the money goes to Ford. I stole this right from Edmunds "intended to cover a variety of administrative costs, such as obtaining a credit report, verifying insurance coverage, checking the accuracy and completeness of the lease documentation, and entering the lease into its data and accounting systems."

If the leather is Katzkin, it is a Ford authorized leather kit. They are actually a slightly higher quality leather than what comes from the factory. The only issue we've had is the install sometimes isn't as crisp as the factory install. They just can't get the cushions pulled as tight.

You mentioned at the end that you had an "overall good experience", and that's the biggest thing. If you went somewhere else and saved $200 but the experience was terrible, you'd never do business there again plus you'd always feel like you could have done better elsewhere.

Congrats and enjoy!!!

John Chady
Sales Manager
Havill Spoerl Ford Lincoln
 
happyahab said:
Short story:
$3k down, 12k miles/year, $223/month w/ taxes, 3 year lease, leather (custom), white exterior
Thank you for others posting their lease numbers by the way. Gave me a good feeling of confidence I got decent deal even after shopping it around to 5+ dealers in San Diego.

As far as the contract goes, I could use some help from people who are better at this than I am.
1) I asked about 4 different ways but the F&I lady wouldn't/couldn't give me a straight answer. Sounds like GAP Insurance is built into this quote and "there is no way to remove it" according to her. That true??!!! I don't see it as a line item so I believe the built into the quote part, but I can't believe there's no way to remove it

2) I tried to get a deal on ford's wearcare. They were going to charge $750 something and wouldn't budge off the price. Y'all find dealers not budging from their price either? The $750 was crazy high and I was trying for $400. I would have taken $450 if she could have moved. But she stood firm. Any after market insurance companies that people know of which offer this type of thing?

3) Section 11, middle right .. acquisition fee = $645. What be that? She had her beat around the bush look when I asked her about this one too.

4) They were trying to beat a quote from another dealer and did not have leather on the lot. So they threw in what I would call an after market custom leather job. They gave me like 100+ swatch colors to choose from and they'll have a "west coast customs" type place put leather on the seats for me. Apparently they rip out the cloth and replace with leather. Any one else ever have a bad/good experience with that type of work? I'm fearing stitches coming apart year 2 and I have no one to yell at b/c the custom place has a 1 year warranty. In the least will my seat heaters still be as good as they were after the work is done?

Overall still a very good experience from Ken Grody Ford in Carlsbad, CA




What other accessories come with lease like inflation kit, charging cable. Anything else I missed ?

Thanks.
 
GAP insurance is a standard item in a Ford Motor Credit lease. You'll find it addressed on the back of your lease form, in the second paragraph of Item 35, titled "GAP Waiver".

It's not an extra or an option; it's a standard part of the lease and is conditional on you having comprehensive insurance with at least the minimums described in the lease.

An "Acquisition Fee" is the base charge that Ford Motor Credit charges you for their financial services. It's standard across all Ford Motor Credit leases, and everybody leasing a Ford pays the same fee.

I don't know what effect an aftermarket leather job is going to have on your residual value.... that's something I've never considered. I would have bought the cloth seats if they'd been available.
 
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