Hi all, Trying to help my son determine if a lease quote or a purchase makes sense. This is a new vehicle with no miles. Here are the details:
MSRP. $54,908, Markdown price after dealer and mfg rebates=$41,435.
3 year lease with 15k miles/year allowed:
With $5k down payment: $521
With $6k down payment $$491
With $7k down payment $$462
The above amounts include all taxes, registration/ licensing, documentation, etc
Residual value after 3 years=$24, 721
I've read online that if you can get a monthly lease payment around 1% of the sale price you're getting a good deal. The above amounts would exceed that. And, who knows the value of a vehicle like that given the current volatility of the EV market and supposedly newer, less expensive models available in the future?
He could buy the vehicle but they'd need to add $7500 to the $41,435 price as that is only available from Ford Motor Co, on a lease. Then could do 0% financing with up to 6 year term. That puts the monthly payments higher than he really wants, though.
Any thoughts? Appreciate any advice. Thanks!
MSRP. $54,908, Markdown price after dealer and mfg rebates=$41,435.
3 year lease with 15k miles/year allowed:
With $5k down payment: $521
With $6k down payment $$491
With $7k down payment $$462
The above amounts include all taxes, registration/ licensing, documentation, etc
Residual value after 3 years=$24, 721
I've read online that if you can get a monthly lease payment around 1% of the sale price you're getting a good deal. The above amounts would exceed that. And, who knows the value of a vehicle like that given the current volatility of the EV market and supposedly newer, less expensive models available in the future?
He could buy the vehicle but they'd need to add $7500 to the $41,435 price as that is only available from Ford Motor Co, on a lease. Then could do 0% financing with up to 6 year term. That puts the monthly payments higher than he really wants, though.
Any thoughts? Appreciate any advice. Thanks!
Statistics: Posted by irishguy — Sat Apr 06, 2024 12:46 pm — Replies 4 — Views 168