Well I thought id share this with all of you to see what your feelings were on it. My friend recently went down to Ford to inquire about Leasing a L (with plans of buying it out at end) hes a student and needs the low monthly payment. Here is what they told him, the lowest he could get the elase for was $4000 down w/ $480 a month for 5 years (not too bad, eh?) well at the end of his 5 years the buy out price was only another $12,340... Do the math, see how amusing you find this

 

Jackal,

holy checkbook! I hope he told them to put on the lipstick and, well, no thank you



------------------
Speedin Bob Peden
'99 "Pi$$ed Off" Red Lightning #2504
NLOC # 438
13.98 @ 98 mph (Rookie Session)

 

Wow!, mine was 10K down and 480 mo for 4yrs to BUY it, that included 3K of sales tax.

 

Ahhh the magic of leasing. I was looking at a Porsche 996 cabriolet once. The lease "deal" was about $1200.00/ mo for 60 months, but the kick was the car's buyout at the end was about $60,000 (or a "residual factor of .60 Mr. Sir"). That came to over $130,000 if you wanted to keep it.


------------------
Franko

'00 Silver 'L
SST tonneau Cover
Ford aero hood shield
35% tint side glass
clear fog covers
Lund back draft spoiler(silver)
Ford tail gate protector
Rubbermaid bed mat
Hidden tailight mud flaps
Alarm w/surprise!
2 MacIntosh 2x100 amps w/Boston Accoustics 6.25 componets Front and 6.25 co-ax rear.
Ford cabin air filter

Ford wheel locks (on order)Gorrilla's were a bust for MY'00


'00 MB E55 Bone stock and why not

'95 MB S500 soon to go

'00 MB CLK430 cabriolet Incoming

Go slow if you must but life without thrust is a bust

 

There is a real low residual on Lightnings for some reason.I looked into leasing mine before.The payment was actually more tham buying it.

 

I leased my 97 XLT.

BankOne bought my original lease some time later.

Turned it in 3 months early with 3,000 miles left to the good. Decided to buy the Y2K, instead of leasing it.

Two months later, BankOne notified me that there was "excessive damage" to the tune of $200 -- and that they still hadn't received my last two payments (paid by my dealership as part of my new purchase on the Y2K).

It is now 5 months since I turned over the vehicle, sent them copies of the check, etc.; and they're still messing with me over $510 that they claim I owe.

Be careful about leasing -- and whatever you do, be very suspicious of BankOne.

 

Don't you mean any bank? Wells Fargo wanted a thumb print of my friend before they would give him an account. I said "What the !@#$ do you think you are doing?!" He said, getting an account. Well, I told him I do not want anything to do with that bank. I keep about $10 in my account. The less they know, the better.

 

If you want low payments I would concider a 6 year loan over a lease. Lets say you paid 34K with tax and put 4000 down well thats $540 a month or 60 bucks more per month then the lease (this is at 9.09% with the internet lenders-good credit only) That lease is around 12% interest from the numbers you quoted!!! With leasing you will pay 1000's more for the truck.

 

Your friend doesnt know how to deal. I got mine with nothing down for $451 a month for 41 months.

 

Typhoon, What is the residual at lease end?

 

Sorry for not responding right away. The residual was nearly 15K.

 

Typhoon, is that payment with no money down and no trade-in? and if it is where did you get your truck cause i can definitely afford that!!

Dave

 

Nothing down, no trade in, no security deposit, not even the first months payment!
$483/month +tax (total of $511) for 36 months 15k residual, 1500 miles a month 12 cents a mile for extra miles. Don't forget the agreed selling price (forgot what they call it when leasing, capitalization cost or something) changes the monthly payment considerably. Mine was $27,895.

------------------
99 Lightning black #2022, cd,tow package,bed rug,roll-n-lock, stock
(13.73 @ 99.74)
98 Cobra coupe laser red
best stock et 13.43 @ 103
one run w/ 3.55 gears 13.34 @ 102 no other mods
former Chevy fan still have a few
72 SS454 11.6 @ 116 (slicks open headers)
68 Camaro 12.2 @ 116 (street tires closed exhast)

 

98_SVT_COBRA;

$28000-13000 = the residual = $15,000. Yes I agree 28K is a very good selling price. I pluged $13000 @ 483/mo for 36 months into my mortgage calculator and solved for the interest rate and I came up with 20%!! This is the part about leasing that I don't like.

 

Yes, that payment amount is with nothing down, no trade, but I did make the first months payment, which is no big deal if you plan you purchase for the time you normally would have made your car payment anyway. Give me your E-mail, and I'll send you the name and number of the dealer if you really want it.

SVTLEMON, you left out the tax, title and tags from that amount. The taxes are figured on the entire amount here in VA. Now THAT sucks.

[This message has been edited by Typhoon (edited 04-19-2000).]