Ford Forums & Technical Discussions banner
1 - 11 of 11 Posts

·
Registered
Joined
·
1 Posts
Discussion Starter · #1 ·
I'm thinking about leasing a fully-loaded yellow Ford Fiesta SES Hatchback. The Edmunds True Market Value is $22,881. The purchase price I'm being offered is $20,970 with $1600 down, 36 month lease with 12,000 miles per year. The monthly payment is $261. I'm in Philadelphia. Am I getting a good deal? I would love your feedback. Also, how is maintainence on this car? Thanks.
 

·
Premium Member
Joined
·
768 Posts
I"ve never leased a car, so I'm no help for you there.

As to maintenance, so far they have been great, both my friends that have them have had no real issues, but they are so new. I can tell you, its a great handling car, fun to drive, looks cool and is getting great MPG!
 

·
Registered
Joined
·
73 Posts
Crunch the numbers to buy it with the $1600 down, three, four and even five years. If you lease it, you are stuck for it for three years. Also, would you be just as happy with a lower priced Fiesta? Buy it, and if you are in the 12,000 mile a year range, it will last tens years with no major issues, even longer. If you go over the miles on the lease it's $$$$.

Let us know.

Dan
65 Chevy Corvair convertible Hibernating
11 Fiesta SE sedan 5 speed
 

·
Premium Member
Joined
·
768 Posts
^^^ I"ve always believed in buying as well...But, like I said. I have never done the math on a lease.
 

·
Registered
Joined
·
21 Posts
I just went through and spoke with a saleseman about leases.

You lease the amount of difference between sticker and projected resale at year 3 mark.

If I remember correctly the Fiesta was slates at a 48% resale rate at 3 years. Dealer also did Toyota and a Corolla was at 52% resale and cheaper to lease. Did not do it but got good info.

So for the Fiesta you are leasing an amount in the 9-10K ranger for 3 years. This brings the payments down but you still do not own the car. You are in essence renting it for 3 years. But after 3 years when the car is ready for a new set of tires you are handing it back in on something new.

Now buying. You are in theory stuck in a 5 or 6 year payment plan. You pay the entire price. But you can do just about anything you want to the car. Your payments are higher because you are paying 9-10 more on the car.

As for the payments you mention. I am not sure. There was a $2000 payout on current car thrown into my example and it was near the $300/month mark. And Fiesta in question was a 20K MSRP model SES Hatch.
 

·
Premium Member
Joined
·
768 Posts
See, I drive cars until they are DONE...So, buying makes more sense for me. But if you like a new car every 2-3 years. I guess a lease makes sense.
 

·
Registered
Joined
·
28 Posts
well, after everything is said and done, thats 11k on the car you pay.

if you take a 5 year loan out, your monthly payment will only be a few bucks more, and you get to KEEP THE CAR. then if you want to sell it down the road, you get more of the money back for it!

i've also never been a fan of leasing. i feel that you come out w/ nothing. i also drive cars into the ground. it seems that if you can afford it, buying the car is more fiscally responsible in the long run! but for some it makes sense to lease. just not me
 

·
Registered
Joined
·
10 Posts
I leased my Fiesta for 36 months at 10500 MI/Y and...

I put $1200 down..Paid for Taxes, Tag, Title Fees. That took me to $207 for a FULLY loaded SEL. MSRP was $20270. My Cap cost was $18000 after rebates.

Assuming a 3 years lease was using 48% depreciation & Rental charge of .1% (interest)

They had a $750 leasing rebate for consumers
Also for just graduating college another $500

Purchase price is $11500 in 2014.

$260 a month seems about right for you assuming your cap cost is 19000ish and 12000 MI/y
 

·
Banned
Joined
·
17 Posts
This is my first car that I bought so I'm not sure how whole leasing thing goes, but the car is low maintainence so far. I bought mine on christmas eve and no problems, at least for now considering its still new
 

·
Registered
Joined
·
66 Posts
Mine turned out a decent price/month for me. I bought mine but I also decided that I didn't want to finance more than 10k. I ended up with the Fiesta HB SE with the 203A package (sync/sport appearance package) for retail prie of $17,700ish.

Sale price to me out the door with rebates and college discount: $16,500.
I put down $6500 and financed the 10,000 for 5 years at 203/month. All things considered, not so bad so far.

Maintenance has been all dealer completed, only oil changes so far.
 
1 - 11 of 11 Posts
Top