GT350 Lease Details

[5.0_alb]

Looking to get into a GT350 when the 19's start coming, and my question is to those who lease, what do you end up paying monthly, how many miles yearly, down payment, etc.? I want to keep this car probably for a very long time so leasing to buy after might be a smarter financial decision for me. Thanks!

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[thehunterooo]

I didn't even know you could lease one

 

[5.0_alb]

I didn't even know you could lease one

I seen a few posts of people saying they lease but with no info beyond that

 

[el-guapin]

When I was looking at GT350 leasing was my preferred option but two local dealer plus one out of state informed me Ford did not offer leasing for such specialty vehicle. Maybe there are third parties that do.

 

[johnny1]

I leased my 2017 GT 350 through U S Bank for 5 years. (Ford got it done for me) Traded in used Canyon truck for $10,000 down payment. Payment is $803.00 a month. At the end of 5 years to buy car is $23968.00. In my case at 73 years old its like a last hurrah since I could make this payment. And at the end of lease intend to give car back. I don't track it, just enjoy driving it. Only down fall will be the normal wear and tear. There are still stipulations on what isn't excepted (you can find all of that on there website) and they inspect car in advance of time run out so you can have what ever fixed without being penalized (tires etc.). That can be worry some since that is a long time to try to keep car in excellent shape cosmetically. But if you buy the car at end of lease or a dealership or some one buys it at pay off theirs no inspection. So if car is still worth more than pay off at end of lease I may also consider seeing how much can get to get a dealership to buy end of lease cost of car and put above that price as down payment for something else. I did get lucky to get a Ford Premium extended warranty for 36,000/5 year before it tripled in price for only $620.00 50 dollar ded. And will never run out on mileage (have had car almost 2 years and has (4,300 miles on it) so have car covered if any thing goes wrong for the 5 years of lease.

 

[RonnieSVT]

I leased my 2017 GT 350 through U S Bank for 5 years. (Ford got it done for me) Traded in used Canyon truck for $10,000 down payment. Payment is $803.00 a month. At the end of 5 years to buy car is $23968.00. In my case at 73 years old its like a last hurrah since I could make this payment. And at the end of lease intend to give car back. I don't track it, just enjoy driving it. Only down fall will be the normal wear and tear. There are still stipulations on what isn't excepted (you can find all of that on there website) and they inspect car in advance of time run out so you can have what ever fixed without being penalized (tires etc.). That can be worry some since that is a long time to try to keep car in excellent shape cosmetically. But if you buy the car at end of lease or a dealership or some one buys it at pay off theirs no inspection. So if car is still worth more than pay off at end of lease I may also consider seeing how much can get to get a dealership to buy end of lease cost of car and put above that price as down payment for something else. I did get lucky to get a Ford Premium extended warranty for 36,000/5 year before it tripled in price for only $620.00 50 dollar ded. And will never run out on mileage (have had car almost 2 years and has (4,300 miles on it) so have car covered if any thing goes wrong for the 5 years of lease.

$803 a month x 60 months is $48,180 +10,000 down = 58,180 plus the buy back price of $23,968 means that the car cost you $ 82,148 so if you don't buy it back the car cost you 58k just to use for 5 years.

 

[johnny1]

Thats all I care about in my case. Was if I could make the payment (dealerships love it) and keep the car at as low a payment as could get for as long as I could get. And yes just to use and enjoy a high performance car like this just one time in my lifetime. Payment would have been quite a bit larger to buy on payments and just couldn't do that. So yup will rent for $803.00 a month and give it back. In my case I'm happy with that. Same thing with where I live. Been renting the same duplex for 26 years. Have probably paid for the whole place at least 3 times could have bought a house to start with. Very nice duplex kept up and rent for me on my side is unbelievably cheap only for me and never raised. If I ever move oh well I don't care got to live in nice place all these years very cheap. Same as I feel about car.

 

[TRS7139]

Thats all I care about in my case. Was if I could make the payment (dealerships love it) and keep the car at as low a payment as could get for as long as I could get. And yes just to use and enjoy a high performance car like this just one time in my lifetime. Payment would have been quite a bit larger to buy on payments and just couldn't do that. So yup will rent for $803.00 a month and give it back. In my case I'm happy with that. Same thing with where I live. Been renting the same duplex for 26 years. Have probably paid for the whole place at least 3 times could have bought a house to start with. Very nice duplex kept up and rent for me on my side is unbelievably cheap only for me and never raised. If I ever move oh well I don't care got to live in nice place all these years very cheap. Same as I feel about car.

8 bills a month after 10 grand down???? You got hosed sport.
By the way, I have some nice property in Florida I could let you in on.

 

[NHman]

OP, unless there's a change for MY2019 GT350's, Ford doesn't offer a lease program for this vehicle. Though I suspect third-party companies will offer something. Most likely with a combination of low residuals and high money factors. Auto loan rates are still low. You may want to check with your local credit union or from PenFed (which is also a credit union).

The example of the lease payment of $800 with $10k in cap reduction over a 5 year term is a perfect example of going with a conventional loan. At 3% interest rate, monthly payment would've been slightly higher but otherwise owned after 5 years.

If the payment is outside of your comfort zone, consider a low mileage 2017. Most can be purchased for low 50's.

 

[302@12psi]

Please do the math before you agree to anything.

Leasing with the long term goal of buying is typically a horrible idea. Really the only "logical" reason to lease is if it through a company and the loss can be wrote off some how. Or if the company provides you with a vehicle expense line.

New and modern cars are not investments. Most are throwing money away and at the end of the day are happy to own a car worth very little. Leasing to own makes even less cents (pun intended).

 

[key01]

If you own a company and can write it off then lease may make sense. The cost is absorbed by your company and a benefit to you.
Sounds like payments are a big concern from your post. If you are doing this on your own dime then good luck to you, but the lease will not be cheap.

 

[ixfe]

Unless you have a business reason to lease (e.g. company car allowance, self employed, etc) the ONLY way leasing makes any sense is if the lease program is through the auto manufacturer’s financing arm, and they’ve heavily subsidized the lease program as a way to move metal (ie below market money factor, artificially high residual value, or both).

If you insist on leasing to the point of bringing a 3rd party bank into the equation, you’re signing up for a bad deal. The bank in question has no incentive to give you a low money factor (ie interest rate) or take on the risk associated with a high residual value.

If you want a low payment, you’re better off doing an 84 month loan through a credit union than trying to force a lease.

Using the scenario above, assuming the Gt350 was purchased at MSRP with tax of 7.5% the total OTD would be aprox $65k. After $10k down the 84 mo. payment @ 4% would have been $744/mo. After 7 years the car would be owned for a total of $72.5K ($744 x 84 mos + $10k). You can see that a way better scenario than the lease deal mentioned above.

 

[302@12psi]

Using the scenario above, assuming the Gt350 was purchased at MSRP with tax of 7.5% the total OTD would be aprox $65k. After $10k down the 84 mo. payment @ 4% would have been $744/mo. After 7 years the car would be owned for a total of $72.5K ($744 x 84 mos + $10k). You can see that a way better scenario than the lease deal mentioned above.

I realize it is tough but some folks just need to realize they can't "afford" what they want. Or at least they can't right now.

Folks would be much better off that way. Instead of trying to find a way to "game" the system for a rather expensive car. The banks aren't going to lose in the end and in 10 years what's the reward? A 30k dollar car you paid 75-90k for?

I get the R's might hold their value a bit but if you look at the recent offerings 302LS's they certainly haven't done much better. This of course is going off of memory of Bring a Trailer bids. I realize the 350 is a different beast than any of the Boss offerings but none the less.

 

[Tomster]

I realize it is tough but some folks just need to realize they can't "afford" what they want. Or at least they can't right now.

Folks would be much better off that way. Instead of trying to find a way to "game" the system for a rather expensive car. The banks aren't going to lose in the end and in 10 years what's the reward? A 30k dollar car you paid 75-90k for?

I get the R's might hold their value a bit but if you look at the recent offerings 302LS's they certainly haven't done much better. This of course is going off of memory of Bring a Trailer bids. I realize the 350 is a different beast than any of the Boss offerings but none the less.

And the future values really depend on what ford does next. If they come up with a bigger and better N/A track focused car, then 350 (R)'s will not hold value as well.

IMHO, the 350 will likely be the last of its kind. F/I is coming via the 500 and unless someone turns the ship around, this could be it.

Time will tell.

 

[PP0001]

8 bills a month after 10 grand down???? You got hosed sport.
By the way, I have some nice property in Florida I could let you in on.

Hey Sport, maybe you missed some of his key points being that he is 73 years old and that this vehicle is his last hurrah and this is all he could afford based on what he understood as his best option.

As far as having some nice property for sale in Florida, maybe tell us more about it!

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