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Old 09-01-2009, 09:09 AM   #1
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New Ford Lease/Buy Prices

Hey, I'm new to posting but I'm always around here. I have a Focus myself and absolutely love it. I just took a trip to the dealer with my parents I want some input on.

My parents have leased Ford vehicles for 20-some years from the same guy. Recent vehicles include the F-150, Explorer Sport Trac, Explorer, and most recently the Freestyle. They've been sort of spoiled with deals being that they've had A, or now "AZ" plan and there's always been a vehicle that the company is pushing deals on come time to turn in the lease. All these leases with around 2-3k up front came out to under $300 monthly. Not a bad deal, especially when the Explorer back at the time had a 30-some thousand price tag.

So it's been 2 years and 10 months with the Freestyle and it's about that time to start looking around. My mom likes the Ford Escape and the price looks right. We go and test drive one just the way my parents want it, even the right color. It's a V6 with 4 wheel drive- so it'll tow the boat and handle the winter with no trouble. The sticker has a price around 28k but drop the Sun and Sync option and it can go down to 27k.

My parents and I go to check out the financing with the salesman and he does his thing and comes back 5 minutes later. He actually says to us "I can get you in a 4 cylinder, front-wheel drive Escape for about a 100 more a month than you pay now". What?! That comes out to around 360 a month. He never even told us what the payment on the car we actually wanted was. Then he does his salesman thing, talking about how the 4 cylinder is just as good and how we'll love it just as much, etc...

What is up? I know leasing isn't the same anymore and the new models, this being one, just hit the market but seriously? I just about flipped when I was told that without AZ plan it would be a few thousand more. Can everyday people not afford a Ford anymore?

So we're looking at just buying out the Freestyle, being that it is 14.5k. This doesn't make sense to me either. Every Ford dealer I see has Freestyles as old as 2005 with 40k+ miles at a price around 18-20k. My parents' is a 2007 with 21k miles. They ought to be begging us to bring it in and take out another lease.

Anyone else had this happen? I've been happy with the payment on my '06 Focus. I can't believed what the payments on these new cars are now though. This is just the Escape we looked at. There was a Flex priced at 40k in the showroom. I'd hate to see the payment on that!

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Old 09-01-2009, 09:47 AM   #2
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i've heard about this and its not uncommon! prices of cars are going up and its bound to get worse.

Now I rive 2 7.3 L diesel trucks!
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Old 09-01-2009, 10:20 AM   #3
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Leasing is such a money trap imo. But yeah, cars tend to be overpriced in general these days, that's why it pays to keep something for 5+ years minimum, and get all you can out of it.

It's also why Focus's are such a good deal. For the money, you can't go wrong for what you're getting.
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Old 09-01-2009, 11:43 AM   #4
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I've seen ads for those "$40k Flex's going for around $32 - you can get into a base SE (well-equipped already, without any options) for around $24K.

Why do your parents keep leasing? It sounds like they just want to be in a new car every couple of years. Personally, I don't see much difference with just buying a new car and trading the old one in.

With the economy the way it is, leasing has become a sticky issue for the dealers and leasing companies. A lease payment is partially based on the 'residual value' of the vehicle what it's worth at the end of the lease. It's getting harder and harder for them to predict what that value will be.

My suggestion would be for your parents to either stay in the Freesyle (a nice vehicle, IMO), or BUY what they like, turning in the Freestyle.

All that being said, I also think that someone is trying to pull a fast one on them with the lease payment. I'd check around.....are they dealing with the same salesman they've dealt with in the past?
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