Ford Focus/Fiesta lease

"desertdog5051" (desertdog5051) 02/05/2015 at 20:45 • Filed to: None

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My local ford dealer is offering an $89 lease on a 2015 Ford Fiesta and a $109 lease on a 2014 Focus and a $149 lease on a 2015 Fusion. All are $3k down and 24 month lease. (no further details). I have never leased a car before. Is this a good deal? I currently drive an F-150 4X4. City mileage about 11-12 mpg, which I will keep. Give me your opinions. A Fusion for you viewing pleasure.

m-b-w loves his SUBAROO > desertdog5051 02/05/2015 at 20:46

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3,000 down seems a bit crazy. See what the payments would be for 0 down. I know that my mother pays $350 for a 2015 Volvo s60 with 15,300 miles a year for 39 months with $0 down.

JQJ213- Now With An Extra Cylinder! > desertdog5051 02/05/2015 at 20:47

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First things first... those rates... will go up. They don't include the tax, title, dealer fees, and other somewhat BS charges they wrap into the lease. Expect the Fiesta to go over $100 by the time you are out. Also, you need really high credit to qualify for those leases.

Lastly, since its only a 2 year lease, $3K down is quite a bit. Factor this in.. its like another $125 a month if you break it down that way!

I have a 13 Civic lease. I pay $199 per month and I only put $1000 down.

desertdog5051 > m-b-w loves his SUBAROO 02/05/2015 at 20:48

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That's the kind of feedback I am looking for. Thanks.

Captain of the Enterprise > desertdog5051 02/05/2015 at 20:54

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It sounds good but will be more than that per month. That is probably the price for someone eligible for something called "A Plan" (Ford Employee) so if you're a regular buyer it will be higher than that because you don't have the A Plan.

desertdog5051 > JQJ213- Now With An Extra Cylinder! 02/05/2015 at 20:55

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Thanks for that input. That is what I need.

desertdog5051 > Captain of the Enterprise 02/05/2015 at 20:59

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More good information. Thanks for that. I am a virgin to leasing and appreciate the info.

Twinpowermeansoneturbo > desertdog5051 02/05/2015 at 21:02

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Find out the money factor and residual. The dealers will give you the info if you call them.

desertdog5051 > Twinpowermeansoneturbo 02/05/2015 at 21:09

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I am seriously looking at a car with good mileage. Please tell me what you mean by money factor and residual. I have never dealt with this situation and I need to be well informed before I go there. Thanks.

m-b-w loves his SUBAROO > desertdog5051 02/05/2015 at 21:16

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If I were you, I'd find a car with the lowest residual, and the highest resale value you can find. At the end of the lease, you may be able to get a few thousand dollars back.

desertdog5051 > m-b-w loves his SUBAROO 02/05/2015 at 21:18

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When you say Residual, what exactly does that mean in terms of a lease? And thanks for your input.

m-b-w loves his SUBAROO > desertdog5051 02/05/2015 at 21:26

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I'll use my mom's old car as an example.

http://www.volvoofthetriad.com/used/Volvo/201…

She had a 24 month lease on her 2013 XC60, and and about 17 months in, her residual, or buyout was at $30,000. In most cases a dealer can get the car from the finance company for significantly less, in this case her dealer getting it for about $28,000. They basically lowered the price on her new car by about 3,000 due to the large amount of money that they were making off of her XC60, and applied it torwards her new lease.

I probably should have explained this better in the earlier comment about her current lease

Basically, if you keep on leasing, and pick the right kind of car, your payments should decrease significantly each time you lease.

desertdog5051 > m-b-w loves his SUBAROO 02/05/2015 at 21:49

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Thank you. That helped.

nostradimas > desertdog5051 02/06/2015 at 00:22

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Don't know where you live, but just for reference a Fusion (probably slightly above base) without a turbo goes for 179 for 24 months with 10.5k miles and 0 down here in NYC. A comparable Accord is about 199 on the same terms (but 36 months), as is the Passat and the Sonata. Mazda tends to have worse lease programs.

nostradimas > nostradimas 02/06/2015 at 00:25

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And no, if you roll in that 3K those prices aren't too pleasant, for instance, you'd probably be paying around $300 a month (including the down payment) for the Fusion when a Q40 Infiniti with $0 down for 24 months goes for like $280 and is a better car in basically every way except fuel economy and maybe NVH.

desertdog5051 > nostradimas 02/06/2015 at 02:35

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Thanks.