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Car leasing advice

RS

RS

Aug 27, 2000
2,881
38
Cleveland, OH
#1
I've been entertaining the idea of leasing 2012 Ford Fusion. I drove my coworkers and like it a lot. I've been emailing different dealers for quotes and most seem to be around the same range (or it is impossible to discern what the bottom line price is - lot of bait and switch). Is they any sure fire way to get the price lower and how much lower (10%? 20%?)?

Thanks
 
#2
not sure how much haggling you'll be able to do. You can finance in as much or little of the down payment as you like. You can and should extend the miles. I took my lease from 10k to 15k for about $9/month more. It's a lot more expensive if you go over and have to pay at the end. They can/should also give you a buyout price when you sign for when the lease ends. My Soobie is gonna be too attractive pass up for what I'll have to pay for it.
 
#3
there are a number of inputs to the cost of a lease, the most variable of which is the actual sales price, then the residual value of the car, and then the finance cost (the interest rate). dealers have their own terms for stuff like this (lease factor, and such).

i have found this site helpful i knowing what kind of discount to expect - and looking at the ford fusion Invalid Link Removed you should get your sale price about 9% off MSRP. ask the delear to detail these different inputs to the cost of the lease for you.

have the salesman help you analyze the input costs, and you can compare across dealers. the best way to negotiate is to play several dealers off of eachother. or you may find you get enough knowledge that you can determine what price you want to pay, and tell that to the dealer you want to buy from.

lastly, are you set on leasing for a specific reason? sometimes it makes more sense to buy/finance. rates are low now... only real difference is that you are on the hook for selling the car vs having a pre-determined sale price (residual value) in the lease.
 
#8
iamlowsound said:
This. Buy a 2-3 year old car coming off a lease. You can get a much better price, or a lot more car for the same price.

lowsound
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Exactly. A 3-year old car off a lease can probably be owned for the same monthly payments as a lease would be. The difference being, the payments would end after a 3 or 4 years and you own it free and clear. After 3 or 4 years of a lease, you still own absolutely nothing.
 
#9
duff beer said:
Exactly. A 3-year old car off a lease can probably be owned for the same monthly payments as a lease would be. The difference being, the payments would end after a 3 or 4 years and you own it free and clear. After 3 or 4 years of a lease, you still own absolutely nothing.
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The last two cars I bought were 3-4 years old.
Outside of a cheaper vehicles that I am not interested in (Focus, Hyundia Accent, etc.), I am not finding this to be the case anymore - at least with car dealers near me.
 
#10
How can you possibly be saying that without knowing how many miles they plan to drive it?? If they will never come close to the allowed miles, that's nothing but a waste of money.
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My point was to plan for it upfront rather than get creamed at the end. I would never have leased but a couple factors combined to make it a better deal for me. 1) Subaru has great lease deals, 2) my state has great consumer friendly lease laws. My lease payment is $170 less for my 2012 Subaru than my car payment was for my 2009 Subaru (which I made a couple grand on when I sold it). At the end of the lease (42 months) I can buy this car for 12,900. I just sold my 3 and a half year old Subaru for 15,000 (saw them for up to 17,995 on the lot). To me it's almost negative interest on the first part of the loan. not all lease deals are as good. Not sure if Ford's lease rates are as great. If it was anywhere close I would have bought but for the car I wanted the numbers bear out. It was a better deal to lease it.

Another factor is used cars are holding their value much better than they were a few years ago. That may not hold as true of all makes but overall it's a completely different game buying a 2-3 year old car than it used to be. New makes more sense now than it did a few years ago.
 
#14
MatticusMania said:
Ive always wondered what the point of leasing a car was, Ive never seen much of a benefit in it. Excuse my ignorance on the matter.
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It's the opportunity to pay a lesser monthly payment to own absolutely nothing, and then at end of lease term get shangheid by all the little things they can charge you a buttload of money for when you turn the car in... like every last mile over your allowance at absurd rate... or the paint chipping... or that coffee spill on the seat / rug....

...disguised as the novelty of driving a new car every 2 years.
 
#15
hover said:
It's the opportunity to pay a lesser monthly payment to own absolutely nothing, and then at end of lease term get shangheid by all the little things they can charge you a buttload of money for when you turn the car in... like every last mile over your allowance at absurd rate... or the paint chipping... or that coffee spill on the seat / rug....

...disguised as the novelty of driving a new car every 2 years.
Click to expand...

I could have sufficed without the commentary :p but thanks!
So its basically just renting a car at a lower monthly payment than financing a purchase?
 
#19
Have to agree that the lease is always a bad deal. As for the Fusion, I just bought a 2010 with 24k mi. on it for $18,033 after fees. It had been a rental car. New to me, works properly, nice car. And when I'm forced to buy another car, I'll have something of value for trade, or if it's like my last car, I'll drive it until the law says I can't. Fusion is a nice car, though. Comfy seats, decent gas mileage, good stereo. I've been averaging about 117-130 miles on a quarter tank in hill terrain.

Whatever you decide, at least you should enjoy the car. But honestly buying one is the better option. Just make sure you factor in cost of insuring the vehicle.
 

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