Lease the new mustang GT?

[brute]

Hello,
I am interested to know if anyone has leased the new mustang GT?
Information about lease deals on the V6 and I4 models are readily available. However looks like GT lease deals are hard to find.
If someone has leased a 2015 GT, please share any information you can(miles, rebates, X plan etc). I am particularly interested in leasing a 2016 GT premium with PP and recaro seats. No additional options/packages interest me. Your information will help me make a educated guess of the payments i intend to make.

Cheers
Brute

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[millerd79]

The GT cannot be leased.

 

[brute]

The GT cannot be leased.

I don't think so. A dealer(in michigan) is currently working on providing me an estimated lease payment.
and
Ford website does not mention that the GT is not available for lease.

 

[pilot0987]

I had a dealer that was able to secure financing for a lease, but I think it was a third party lease. I didn't go with a lease but still wanted something to compare the buy through.

 

[L8APEX]

Never negotiate the monthly payment. Always negotiate the cash purchase price first. Remember you are buying a car, not a monthly payment.

One of the most important aspects of buying a new car is to find out the invoice price of the car. You can find it on edmunds.com or other sources.
Remember a dealer is in it to make money, so work from the dealer invoice up but never the MSRP down. And obviously never pay over list, that is instant depreciation there.

It is helpful to bring a friend down with you when you negotiate and have them bring up points why they didn't like whatever you are looking at. This keeps the salesman off balance, just when the salesman thinks he has you, hit him with another objection. He will then have to sweeten the pot to keep the deal alive. Even if the objections mean little to you, the salesman will believe it is important to you. Prepare to walk away and never shop at only one dealer. You will 99% of the time overpay. And remember, make sure you don't pay tax on the rebate.

You should be finding out the interest before you even talk price. Make sure you get the lowest possible interest. And shop around, too. If a salesman asks you "how much can you afford a month?" Don't answer it. Say it isn't relavent.

Now the question is: IS LEASING FOR ME?

Leasing isn't for everyone, and it is not the cheapest way to purchase a car. The cheapest way to own a car is to buy it and keep it until it falls apart. But for those who keep a car 4-5 years, leasing may be an attractive way of getting a car. Leasing is sometimes the only way to drive a new car when you can afford to make monthly payments, but don't have enough cash for a big down payment.

Leasing a car has distinct advantages over buying a car:

1. No huge down payment.
2. Lower monthly payments
--Here is why: When you buy a $30,000 car you make payments based on that price minus the down payment. When you lease the payments are lower because the car isn't yours at the end of the lease. That means you don't have to pay for the whole car. That means the car that is worth $30,000 may still be worth $15,000 after a 36 month lease. So the leasing company would base their payments on $15,000 not $30,000.
3. You can walk away from the car at the end of the lease.
4. You can drive a more expensive car.

Sounds pretty good huh? No down payment, no headache of selling a used car...lower monthly payments...

Well there is a reason. Leasing is always more expensive then buying a car. That is because at the end of the lease you have nothing to show for all those payments. You can either drop the car off or buy it at the residual value.

There are two types of leases. Open and closed-end leases.

Closed end lease- Fixed residual rate with the option to buy.

This type of lease means that the residual value is fixed at the beginning of the lease and you have the option of purchasing the car at the residual value or simply walking away from it.

Open end lease- Fixed residual rate with the option to buy, BUT you must pay the difference.

With an open end lease there is still a residual value set at the beginning of the lease but if the car is worth more than the residual value then you must pay the difference. Always go for closed-end lease.

Money factor. This is the phrase used for the finance rate upon which the lease payments are based. The lower the rate, the lower the monthly payments. Obviously you want the lowest rate you can find.

GAP protection This is extra insurance coverage that will cover the lease balance and any early termination fees.

Mileage allowance
Watch the mileage allowance you are getting. If you are going to go over the allowence, trade your car in early. By doing that you can finance what you owe on the car by putting it towards your next lease instead of paying the mileage penalty up front.

Wear and tear
You have to keep the car in good shape. If you don't maintain the car well and run it down, you will be responsible for the damages at the end of the lease.

MISC. Fees

--Be prepared to give a security deposit.

Acquisition fee and Disposition fee. Ask for these fees to be negotiated out of your lease.

*******

Remember leasing a car is not different from buying a car. Never announce to the dealer you can pay x a month to lease a car. Start by negotiating the price of the car as if you are buying the car. Then negotiate the residual value and the excess mileage fees.

To lease or not to lease

-Leasing may be good for you if you want to invest your money in something other then a car.
-Drive a more expensive car
-Trade in every 2-3 years.
-No hassle of selling a used car
====
-Leasing may not be right for you if you usually drive your car more then 15k miles a year.
-You don't take care of your car.
-You want to keep the car long term

Bottom line. Make sure leasing is right for you, and make sure you understand everything you sign. Don't understand it? Walk away.

====
FWIW, I would never lease a car. For me, it doesn't make any sense. I mod and keep my cars long term.

 

[Jackie Chan]

you can lease a gt(at least you could last year) but you will pay a crazy lease rate through ford. so the lease makes zero sense. i think the last time ford had a good lease on the mustang was the 04 cobra power lease.

 

[Jackie Chan]

i make my living selling used cars and i lease new cars for my wife instead of buying new or used....that should tell you something there. when leases are good (high residual and super low lease rate) they are 100% a better deal than buying imo.

 

[Five Oh Brian]

The GT cannot be leased.

Wrong! A new Mustang GT can be leased. Ford Credit has residuals established for them. The reason they are very rarely leased is that they don't get special, low lease rates like EB's and V6's, so the payments don't make sense.

So now you're wondering why Ford doesn't offer special lease rates on GT's? The answer is simple. Just think about how the typical Mustang GT is used, abused, modified, and raced. Do you think Ford wants them back at the end of a lease? Heck no!

 

[brute]

Thanks for all the information about leasing and buying guys. Here is what i managed to find out.
Ford does not seem to offer great lease deals on the mustang gt. There is not a huge price difference between a lease and a buy. I have quotes from two different dealerships,
Car i am looking is 2015 base GT, Race red gt with PP. 36 months, 12k miles, 3k down.
Dealership 1 : 446/month.
Dealership 2: 430/month. Added info: 525 for 24 month lease.

So bottom line, leasing GT is not that much of a cost effective option compared to buying. I have done ample research on leasing vs buying and i am aware of the pros and cons.

Thanks for the inputs guys.

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