New Lease deals...

[hybridbear]

I don't have my paperwork with me, but I think the cost of money is higher than my lease was. You don't say how many miles per year this is for, but with a residual of only 40%, I'd hope it is for at least 15,000 per year. My residual for 10,500 per year was 43%.

Doing the simple math, they are working from full MSRP with no discounts other than the money that Ford is putting in and there is about $1700 of fees and charges that are not obvious. Some of that is the cost of money (interest or money factor) but there may also be a Rental Charge or acquisition fee buried in their system that does not show until you are signing the final paperwork.

It seems to me like they should be able to do better. I'd press to understand the undisclosed fees, and maybe look to knock a bit off the MSRP to start with.

The strength of your bargaining position is going to be determined by the local market conditions (how many cars available in the area etc.) You have 2 more weeks before the end of the month, that is when they are most likely to deal.

The dealer I was working with was not willing to disclose all the charges and fees buried in their system before signing, saying that they are not required by law to share the details :-(
I finally ended up telling him that all his deals were too high and my cash out of pocket over the 3 years had to be below a certain threshold or there was no deal, and if they put together a deal below that threshold, I'd come pick up the car. This was probably not the best strategy, as they exactly met my number and not a penny lower, Doh!
I ended up with a good, but not great deal. In the end they discounted the MSRP a bit and left in a $1000 Rental charge which was the fee they wouldn't disclose. I found it in the paperwork at signing, and scolded them for not being more transparent. We could have arrived at a deal days earlier if they had explained their numbers.

At the end of the day, I love my car and the monthly payment is half of my CX-5. Monthly cost of ownership when gas and maintenance is taken into consideration is about 1/3.

i ran in to that same problem with a dealer other than my local i've been dealing with. even after i gave him the supplied numbers posted in my thread, he said he CAN beat the price but refuses to give me the numbers until i come in :roll:

That's because once you're in the door it's hard for you to leave psychologically because as humans we tend to overvalue sunk costs. A good dealer will extensively use psychology to sell vehicles as quickly as possible and at the highest margins profitable.

 

[Abelgoddard]

Reached an agreement. Over the phone we went through the lease numbers one by one and figured out what was missing and why and what different things break down to. We finally got to the 399. And he still wouldn't budge on it, and I don't think the market here allowed me to play hardball and truly walk away. I can't really go to another dealership to get one since nobody has one.

Anyway, the 48 month lease brought numbers I could work with, so that's what I'm at. 48 months, 3% APR, 335/month.

 

[blackbeasst]

That's because once you're in the door it's hard for you to leave psychologically because as humans we tend to overvalue sunk costs. A good dealer will extensively use psychology to sell vehicles as quickly as possible and at the highest margins profitable.

sucks for them then. cause guess what......im still not going to set foot in there :lol:

 

[twscrap]

If that's the way they're playing it, they're wrong, they can't beat the other deals and they know it, so why waste their own time putting together the numbers if you're going to buy somewhere else anyway.

 

[blackbeasst]

If that's the way they're playing it, they're wrong, they can't beat the other deals and they know it, so why waste their own time putting together the numbers if you're going to buy somewhere else anyway.

his response was "We do not send our breakdowns to customers because they will be used to show other dealers our pricing. I will beat any deal, and I'd be more than happy to show you the breakdown in the showroom."

so i round about gave them the don't call me, i'll call you line response. im not going to play games and drive out of my way and waste my time for nothing. their loss. there are 2 other dealers with 5 other FFE's within driving distance that im sure would gladly take my money if they can beat the supplied numbers and prove it prior to me coming in.

 

[Abelgoddard]

Yeah, that whole 'don't take this and shop it around' is bull. If you notice that pic I posted, that's the paper he wouldn't let me have, but I could write everything down or take a pic no problem. It's seems stupid to me, because it's just paper and ink it's not an actual deal or anything and when anyone sees my picture it's the same result - they learn what was on the print.

 

[blackbeasst]

Yeah, that whole 'don't take this and shop it around' is bull. If you notice that pic I posted, that's the paper he wouldn't let me have, but I could write everything down or take a pic no problem. It's seems stupid to me, because it's just paper and ink it's not an actual deal or anything and when anyone sees my picture it's the same result - they learn what was on the print.

if you look at my lease thread the first 2 pics i posted were of the semi break down of the price. he had to fold it over as to not copy the dealer name/number/etc. but damn he at least let me take it out with me!

 

[purestformulas]

The term and payments are spelled out in the link:
36 months/ $284/month with $929 down / 10,500 miles/year.

I got a better deal last month anyway.

$250 per month tax INCLUDED 0 down. 36 month, 10.5k

Looking to lease a Ford Focus in North Bay. If someone can quote me in this price range, you have a buyer. Been shopping around...alot.

 

[mecit]

I'm not good with numbers on a lease, but I think there is a great deal in Sacramento.
$99/month with $3795 down for 10.500 miles on a 36-month lease.
I needed more miles, so I signed for $1000 down and 15.000 miles a year. The monthly payment is around $230 which is less than what I was paying in gas.
http://findnsave.sacbee.com/Local-Ads/a-22007/Future-Ford-Lincoln/43227314-43228116

 

[Abelgoddard]

I finally got my FFE last Wednesday. I got a better deal than I thought I would get from them. In DFW, which is way different than California, I did 2k down with 15k miles and rolled in a little from my trade in, for a 36 month deal at 321/month. So far I've had one charging problem on Friday (gas cars parked in EV reserved spots that had free chargers) but that got solved the next day and things are going well. I really need to get a Level 2 installed at my house, but I have access to a plug at work that I can use to top off as necessary.

 

[v_traveller]

I'm not good with numbers on a lease, but I think there is a great deal in Sacramento.
$99/month with $3795 down for 10.500 miles on a 36-month lease.
I needed more miles, so I signed for $1000 down and 15.000 miles a year. The monthly payment is around $230 which is less than what I was paying in gas.
http://findnsave.sacbee.com/Local-Ads/a-22007/Future-Ford-Lincoln/43227314-43228116

Great deal! Congratulations, mecit!

Thanks for the tip on Future Ford... I added them to a post where I'm trying to track the best EV lease offers on a weekly basis.

http://ev-vin.blogspot.com/2014/04/current-36-month-lease-offers-for.html

 

[phiquach]

Went to the dealership today. California dealership

tried to see what deals they had since i need a new car, previous electric car was a reason.

best deal they could give me was,

37k price
$1000 down
12.5k miles
$300 a month

I didn't do any research yet, was just checking it out.

Went home and dealerships(their website) is only showing 6k incentive vs $11,750

If i show them the website, would my payment amount drops?

Looks like people are getting much better deals than i was quoted

 

[Abelgoddard]

Yeah, sounds like somebody didn't know what all the rebates were. Also sounds like you left off some details that would get it to that price. :-/ ¯\_(ツ)_/¯ Hard to say if that's a good deal without more details.

 

[jachady]

Went to the dealership today. California dealership

tried to see what deals they had since i need a new car, previous electric car was a reason.

best deal they could give me was,

37k price
$1000 down
12.5k miles
$300 a month

I didn't do any research yet, was just checking it out.

Went home and dealerships(their website) is only showing 6k incentive vs $11,750

If i show them the website, would my payment amount drops?

Looks like people are getting much better deals than i was quoted

The $6000 rebate is the purchase rebate and will be the one showing on advertising, the $11750 is the lease rebate. Being in CA, I'm not sure if they add the CA tax credit right into the lease or not. If they do, it sounds like the lease payment is too high. If not, then it sounds about right. The big question I would have is the miles per year, Ford doesn't offer a 12.5 yr, they have 10.5, 12, 13.5, 15.

 

[RPadTV]

I picked up an Ice Storm FoFo Electric today. I'm pretty happy with my deal, though it's certainly not as sweet as what a few of you have received.

36 months/10,500 miles per year
$1545 down
$259.86 monthly

I failed to get a good deal on a Nissan Leaf after trying with six dealers. I checked out the Chevy Volt and liked it, but didn't dig the 3.3kW charger and the lack of SAE DC chargers (nearest one to me is 20+ miles away). Two Ford dealers I tried offered really bad shopping experiences. Thankfully, Darlene at Sunrise Ford was a pleasure to work with. We did all the negotiating and details via email. I got a price that I liked and signed the papers two days later.

While the lack of quick charge is somewhat limiting, I'm happy with what the FoFo Electric offers.

 

[v_traveller]

I picked up an Ice Storm FoFo Electric today. I'm pretty happy with my deal, though it's certainly not as sweet as what a few of you have received.

36 months/10,500 miles per year
$1545 down
$259.86 monthly

I failed to get a good deal on a Nissan Leaf after trying with six dealers. I checked out the Chevy Volt and liked it, but didn't dig the 3.3kW charger and the lack of SAE DC chargers (nearest one to me is 20+ miles away). Two Ford dealers I tried offered really bad shopping experiences. Thankfully, Darlene at Sunrise Ford was a pleasure to work with. We did all the negotiating and details via email. I got a price that I liked and signed the papers two days later.

While the lack of quick charge is somewhat limiting, I'm happy with what the FoFo Electric offers.

Would you mind mentioning which dealers were bad? Glad to hear Sunrise is good, I'll make sure I bug them next year when I start shopping for my next FFE. BTW that is Sunrise in North Hollywood, correct?

 

[RPadTV]

Would you mind mentioning which dealers were bad? Glad to hear Sunrise is good, I'll make sure I bug them next year when I start shopping for my next FFE. BTW that is Sunrise in North Hollywood, correct?

The first Ford dealer I went to was Airport Marina Ford. The salesman was good, but the fleet manager wouldn't let me leave with a solid price. The Internet salesman at Star Ford refused to give me a price via email, until I had another offer. It made me wonder what the point of Internet sales were if the sales team doesn't want to deal with you over the Internet. And yes, Sunrise Ford is in North Hollywood. Good luck!

 

[empowah]

I leased through Victor Ramirez at Santa Monica Ford. They offered $500 below invoice plus all applicable rebates, if I could show proof of Costco membership (I did). Interest rate was marked up to 1.25%, but upon my request, they lowered it to 0.25%, which was the FFE rate for June 2014. Residual was 42% for 12,000 miles per year.

For July 2014, there's $11,500 in rebate money ($500 more than June), but the residuals/interest rate are a little worse. Should be a wash in the end.

I ended up paying $500 drive-off and $289 per month thereafter for 36 months, including $500 competitive conquest lease rebate. The only option was leather; MSRP is $36,990. I probably could have gotten $1,000 below invoice from Galpin (and Oxford White, which I prefer over my car's Ingot Silver...), but appreciated the customer service of my salesperson (wasn't pushy at all) and the convenience of the dealership (ten minute walk from my house). Everything was handled via email, car was washed and ready when I arrived, and I was out of there in 30 minutes. Dealer holdback is 3% of MSRP, so at $500 below invoice they made at least $600 or so.

 

[hybridbear]

I now have all the details about the lease we took over.

Agreed upon vehicle value - $39,832.64
Acquisition fee - $645.00
Gross capitalized cost - $40,477.64

Amount due at signing - $15,174.02
Capitalized cost reduction - $12,825.33
First payment - $261.52
Registration - $75.00
Doc fee - $75.00
Upfront taxes - $1106.18
Tire recycle fee - $12.50
Tax on monthly payments - $818.49

Amount due at signing paid by:
Trade-in - $2000.00
Rebates & non-cash credits - $12,750.00
Cash - $424.02

Adjusted capitalized cost - $27,652.31
Residual value - $18,445.50
Depreciation - $9206.81

Rent charge - $207.91

Total of payments - $9414.72
Divided by 36 - $261.52

Mileage overage charge - $0.20 per mile
Disposition fee - $0

Purchase price at end of term - $18,945.50

Notes:
This lease is for 10,500 miles per year. The original lessee only put 4200 miles on the car in 11 months so we can average about 1000 miles/month for the time we have the car. The car was originally leased on 8/15/13 and is a 2013 FFE in Ice Storm with leather.

Questions:
How did the original lessee do in negotiating this lease?
How does it compare to current lease deals for 12k miles per year (what we're getting out of it and what we could have potentially negotiated for on a new 2014 FFE) with $2500 down?
What is the purchase price at the end of the term $500 more than the residual value on the lease?
At the time of this lease the Ford rebates totaled $12,750, recently they've been $13,000 even correct?

 

[Kakkerlak]

This looks like a pretty good lease for a 2013 Focus Electric.

The differences between that lease and a current one would be that the MSRP has dropped from 39,995 to 35,995 (including $825 Destination fee), and the incentive has changed from $12,750 to $11,750.

With a residual value of $18445, that's about 45% if you calculate it on the Gross Capitalized Cost. I was offered 40% on 15,000 miles, and 43% on 10,500 miles. They may have adjusted the residual to decrease the payments.

In my opinion the Destination Charge ($825) is part of the price of the car but the Lease Acquisition Fee is just a bank charge and has nothing to do with the value of the car and shouldn't be included in the basis for the residual. I could be wrong on that.

A "rent charge" of just $207.91 is super-low interest. It's just 208/36 = $5.77 per month so it's probably on an interest rate of 0.25 %.

Overall, I'd say the car cost $3000 more in 2013, but the original owner put in about $2400 in cash and trade-in, so you're very close to what you would have paid on a new 2014, plus you're only obligated to 2 years and you got a higher residual.

So the direct answer is "the original owner did OK", especially with the interest rate.