Let's evaluate my lease deal

Discussion in 'Community Discussion' started by Fugue, May 17, 2013.

  1. Fugue, May 17, 2013
    Last edited: May 17, 2013

    Fugue macrumors 6502

    Joined:
    Jan 14, 2011
    #1
    I needed a car short term (2 years), so I decided to lease a 2013 Ford Focus SE. I tried both the Mazda 3 and the Focus, and while they are very close in terms of road feel, I felt the Focus had a bit more power. The Focus SE also came with bluetooth audio and Ford MySync (which is like Siri, but much worse) as a standard option. I needed bluetooth, so I went with the Focus over the Mazda 3.

    With that said, here's the deal I got:

    MSRP: $21,175 (includes winter package, ruby red color, sirius xm radio)
    Downpayment: 0
    Monthly Payment: $260 (includes dealer fees, taxes, doc fee, and everything else)
    Term: 24 months
    Miles: 10,500/year

    For the lease pro's out there, would you say I got a good deal?

    Thanks!
     
  2. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #2
    Seems a bit pricey, but overall not too bad. Enjoy your new ride.:D
     
  3. Tomorrow macrumors 604

    Tomorrow

    Joined:
    Mar 2, 2008
    Location:
    Always a day away
    #3
    What's the car's residual value and your interest rate? How much per mile over your 10.5k limit per year?
     
  4. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #4
    ^ that and well, if you signed on the dotted line already then there is no sense in worrying if you got a good deal. You are locked for 24 months.

    Have fun.
     
  5. Mousse macrumors 68000

    Mousse

    Joined:
    Apr 7, 2008
    Location:
    Flea Bottom, King's Landing
    #5
    That's the killer clause right there. It's hard to keep within the mileage limit that low. You might be better off buying (and reselling later) if the charge for going over the limit is high.

    10.5K? I'm already over that limit in only 6 months of commuting.
     
  6. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #6
    While I agree it would be too late to worry about getting a different deal, there is no harm in trying to learn if/why a better deal could have been made. :)

    Whether or not MR is an appropriate source of such information and whether the OP actually gave enough information for others to accurately comment on is something else to consider...

    ----------

    It really depends on the circumstances. I drive my car about 3500 mi/year.
     
  7. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #7
    True but still, this is MR.

    As for the mileage, in So. Cal, this would have been impossible for me. Heck, probably even where I live now but I rarely have to drive unless I want to.
     
  8. Fugue thread starter macrumors 6502

    Joined:
    Jan 14, 2011
    #8
    Thanks for the replies all! Some more info:

    Residual is around $14,500.
    .15/mile extra

    10,500 miles is more than enough for what I will use the car for, so I wasn't worried about that part!
     
  9. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #9
    Indeed, and I'm probably somewhat of an anomaly in my area. I know people who push 20k/year, in which case they'd be paying an extra $130/mo...
     
  10. GoCubsGo macrumors Nehalem

    GoCubsGo

    Joined:
    Feb 19, 2005
    #10
    If public transport in most of CA was like it was in SF, then driving would likely be limited to the weekends for me ... if I lived within city limits.
     
  11. Tomorrow macrumors 604

    Tomorrow

    Joined:
    Mar 2, 2008
    Location:
    Always a day away
    #11
    Residual value looks pretty good, so you're financing $6675 over 24 months with nothing down. At zero interest, your payments would have to be $278.13, so something doesn't seem right.
     
  12. Fugue thread starter macrumors 6502

    Joined:
    Jan 14, 2011
    #12
    I bargained the MSRP down to $18,750, on which $1,700 in dealer fees/taxes/etc were added.
     
  13. wordoflife macrumors 604

    wordoflife

    Joined:
    Jul 6, 2009
    #13
    My friend got a new Camry SE for $275/mo on a 3 year lease, 12k miles per year, with $0.10/mile overage having his credit card for maybe 2 years.

    Not really sure what a good deal is and is not, but just putting this out there for comparison.
     

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