Cobra Jet
Well-Known Member
Would you be willing to lay out your lease figures that you negotiated on your 2016? Curious to see actual numbers instead of “got a good deal”.
Thx!
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HoosierDaddy
Well-Known Member
Just post a payment document and the purchase agreement. [/girther]
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Spork3245
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- #18
Dealer had it listed at about $41-42k, did 12% down before incentives, dealership told me payments would be around $670/month before I got them down to $400/month, 10.5k miles/year. My 2013 GT Premium leased at $337 and change per month.
The same amount down and on a 60 month finance would have been over $500/month. Residual value is around $27k.
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Spork3245
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- #19
What I am asking for, itt, is for the 2018 lease rates, which are static numbers, it’s basically a “loan fee” that is applied to leases, this number as well as the residuals are provided by Ford directly. I really don’t care if anyone believes me or not because I’m not selling nor giving advice about anything? Leases are not like financing where the rates are dependent solely on credit score.
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D24112
Well-Known Member
Contact your local dealer is what Ford says. Here is a quote from a lease company...
$519 Per Month | 42 Months | $0 Due at Signing Available! | 10,000 Miles Per Yr | $17,997.50 Residual
And lease rates are definitely based on credit rating from Ford
$519 Per Month | 42 Months | $0 Due at Signing Available! | 10,000 Miles Per Yr | $17,997.50 Residual
And lease rates are definitely based on credit rating from Ford
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Spork3245
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- #21
It’s to my understanding that you just need to meet a minimum CS number for approval but as long as you’re above that minimum number the rate is the rate whether you’re 720 or 820. This is why/how brands are able to advertise monthly lease payments in ads/commercials with the small print mentioning a minimum CS score, as if you’re below that you won’t even be able to lease. Am I mistaken on that? My CS is 826 so maybe that’s why I always get a good deal
Thanks for the info!
I’ll be attempting to negotiate on a fully-loaded 2018 Premium Fastback, my goal is around/below $500/month with ~15% down before cash-back incentives (which looks to be the average for this price range on performance vehicles). Every thousand usually materializes as $20/month on a lease. I’m obviously willing to pay a lot more for a finance than I am for a lease.
I was just going to buy one this time BUT my plan is now to attempt lease #3, then buy a lightly used 2020 GT500 at the end of the lease. However, if I can’t make the numbers work I’ll wait till July/August and order/buy a 2019 GT Premium Convertible.
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Enginerd
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This was a 36mo lease? If so, completely lucky you got that price. The 3 dealers here quoted me mid 500’s for a $32k 2017 last year through Ford. Same price or more than 60mo financing (depending on the bank and rate).
Dealer had it listed at about $41-42k, did 12% down before incentives, dealership told me payments would be around $670/month before I got them down to $400/month, 10.5k miles/year. My 2013 GT Premium leased at $337 and change per month.
The same amount down and on a 60 month finance would have been over $500/month. Residual value is around $27k.
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Spork3245
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- #23
Yes, 36 months, 10.5k miles/year on a GT Premium with 401a and Nav. The deal on my 2013 GT was better but the interest on the lease rates changed for 2016 GTs (that’s the point of this thread), I regret not pressing them a little harder though, probably could have gotten it down to $380-ish
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Spork3245
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- #25
What? Most lease advertisements are based on 8-15% down pending the vehicle. I’m aware it’s going towards the residual and lease payments (every thousand is roughly +/- $20/month). Same amount down on a 60 month finance still would have higher payments. I’d just rather put $4-6k down and have that shave off $100+/month.
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Zodiac
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You should never put money down on a lease. You are throwing money away on a down payment on a lease. Always negotiate on the selling price, don't get caught up on the payments.
If you wreck that car you just lost all that money.
Like everyone says yeah Mustang GT's don't lease well. You dropped $5k plus down on a lease you can make anything lease good with more money.
Not knocking on you or shitting on your plans.
Example: My Scat Pack $43,xxx MSRP. Lease deal is $385/month with taxes ($371ish+ tax) Only thing at signing was first months payment. That's what you should be working towards.
As long as you are happy that's all that matters.
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Spork3245
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- #27
The same amount down on a finance would have still been $200+ more/month. What you don’t put down you pay for in payments. If I did zero down I’d be paying $480-500/month which is still fantastic on this particular car. I know I’d get a better lease offer on a Dodge or Chevy because they offer lease incentives - believe me when I say (and the reactions from others in this thread show this) that even with what I put down, on a Mustang, the deal I got is amazeballs.
The down payment amount is including titles, first months payment, etc btw - not on top of all that.
But yes, I fully get what you’re saying - it’s why I’ve been test driving tons of cars the past few months that lease better... but the Mustang keeps pulling me back.
EDIT: I should probably mention that I have them include gap insurance (or whatever it’s called for leases) into the down payment.
Zodiac
Sarcasm Personified
I'd still take that down payment money and set it aside and just eat the larger payments if you want the car. Either way you will pay it. It would be wiser to not drop it as the down payment.The same amount down on a finance would have still been $200+ more/month. What you don’t put down you pay for in payments. If I did zero down I’d be paying $480-500/month which is still fantastic on this particular car. I know I’d get a better lease offer on a Dodge or Chevy because they offer lease incentives - believe me when I say (and the reactions from others in this thread show this) that even with what I put down, on a Mustang, the deal I got is amazeballs.
The down payment amount is including, titles, first months, etc brw - not on top of all that.
I can see paying fees up front, just firmly against any money down. Obviously you know what works best for you. Just stating my opinion.
Either way interested to see what numbers you get.
Good luck in your endeavor and hope you get what you want. I don't blame you Mustangs are great and the new 18 is shaping up to be a fantastic vehicle.
EDIT to your EDIT: Gap is including in pretty much all leases.
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HoosierDaddy
Well-Known Member
It can make sense to put up to 100% down on a lease depending on the circumstances. You will get better terms because the lessor has almost zero risk and has use of all the money from day one.
If you are leasing because a low payment is a big priority or are writing it off as a business expense maybe put down the least.
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Spork3245
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- #30
The gap has always been offered separate for me on the Mustang unless I’m confusing my terminology which is always possible.
If I put the amount I’m using as a down payment towards the payments instead, then it would work out to be the same overall amount paid at the end of the lease. I do get what you’re saying, though, in regards to if the car got wrecked before the end of the term then some of the down payment could be going to waste.
In the past 8 months I’ve test driven...
Alfa Romeo Giulia Ti
Infiniti Q60 Red Sport
Mercedes AMG C43
Audi S4
Genesis G80 Sport
Jaguar XE 35t
Kia Stinger GT
BMW M240i
Lexus IS350 F-Sport
Cadillac ATS V-Sport
3 different 2018 Mustang GTs (one 401a with active exhaust, one 401a with Performance Package, and one 400a but fully-loaded otherwise including magneride)
After all that, the Mustang was my personal favorite. I planned on checking out a Genesis G70 in the spring too... but, I’m pretty set on the Mustang
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