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Who here leased their Bronco? Can you share how it went?

Cyclone1

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I’ve leased my last few cars and would like to lease the Bronco.
Please save the comments on how dumb it is for another thread. :)
I saw that Ford had the lease calculator on their website but now it’s gone.
Has anyone here leased one and how did you think you did on it?
I’m looking at getting a base sas.
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BroncoAZ

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I’ve leased my last few cars and would like to lease the Bronco.
Please save the comments on how dumb it is for another thread. :)
I saw that Ford had the lease calculator on their website but now it’s gone.
Has anyone here leased one and how did you think you did on it?
I’m looking at getting a base sas.
Right now the residual should be through the ceiling, but I haven’t see that portrayed on the Ford lease calculator. Maybe a third party lease would work better. There was that thread today about Bronco having the highest residual value for SUV’s. It should be cheaper to lease than my 2021 Tacoma that I pay $275 per month on, but the Bronco lease calculator on a $39K Black Diamond was around $450 before taxes. If you go order one now it should be arriving in about 2024, so by then the residual value will have fallen off due to the number of Broncos in the market.
 

RyanRallyX

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Leasing isn't dumb, only misunderstood. It works for some people, as it does for me. Now of course there are no lease specials so not the best deal to get on the Bronco compared to others. Our BD was 41K MSRP. 5K down and after all fees is 486/ mo, 3 years, 12K miles/year.

Not sure why the calculator is down. Maybe they are adjusting the numbers since residual value projections are looking higher. That should work in your favor if planning to turn in at the end of the lease.
 

PSUTE

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Leasing isn't dumb, only misunderstood. It works for some people, as it does for me. Now of course there are no lease specials so not the best deal to get on the Bronco compared to others. Our BD was 41K MSRP. 5K down and after all fees is 486/ mo, 3 years, 12K miles/year.

Not sure why the calculator is down. Maybe they are adjusting the numbers since residual value projections are looking higher. That should work in your favor if planning to turn in at the end of the lease.
Thinking of leasing for 3 years. Never leased before. If the residual is more than what's projected, how does that work? I am a noob at leasing and would like to know how it all works... TIA...
 

Drex

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Thinking of leasing for 3 years. Never leased before. If the residual is more than what's projected, how does that work? I am a noob at leasing and would like to know how it all works... TIA...
Fast and loose, different States have varying applicable laws;

You enter a deal where you pay the expected deprecation, plus fees, taxes, and interest for a vehicle over a set time period. Limited miles or fairly severe penalty per mile. You gain no equity in the vehicle.

Essentially you pay for the highest depreciation, portion of taxes, that the vehicle will experience for the option to walk away at the end of the time period. The plus is that due to the low mileage over the lease, you are under power train warrantee almost for sure the entire time.

You negotiate a residual value. This is what both parties agree the car will be worth at the end. You can also negotiate selling price (up or down). Taxes are generally assessed for the difference. There will be fees and interest on the loan you are getting for the amount. Generally the taxes and fees are paid up front. A few thousand or so is common.

You get a monthly payment. As you are not building any equity in the vehicle, it is typically lower than a monthly payment for buying it. At the end, you turn it in and walk away, you owe nothing unless mileage, wear and tear, or damage.

If the vehicle turns out to be worth less than the agreed upon residual value, you win. You under paid the depreciation (don't worry about the finance company, with the fees and interest, they didn't lose any money, just made less off you). If it is worth more, you lose as you over paid for the use of it over the time of the lease. At that point you can take another loan, pay cash, negotiate with a dealer to buy it from you and buy the vehicle for the residual value, plus remaining taxes. If you decide to buy the vehicle because it is worth more than the residual, contrary to the many people who claim they made money buying it out, they are actually losing less as they paid the extra in the monthly payments already. With the fees and so forth, the actually are worse off than if they bought it instead of leasing.

Short version. Is you pay a little more for the convenience of having a new car (no equity) over the long term and less in the short term. Financially it is always a loser, especially if you go from lease to lease, due to the fees and always paying the highest amount of depreciation in the life of a vehicle every lease, but you get to drive newer cars under warranty, and that may have considerable value to some people.

Again, people who think they made money because a vehicle was worth more than the residual at the end don't understand leasing, the extra amount it is worth is the extra amount they paid in the monthly payments and buying it at the end or getting something from a dealer to turn it in just lessens that loss.
 

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RyanRallyX

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You really just have to look at numbers and then decide if its right for you. When a "lease special" is offered, the payments tend to be better as there are less, or there are no "rental charges" that can get thrown in there. Some deals are better if they are trying to get the car out there. Don't expect a deal on a car if they don't have to convince you to get it.

And yet heres another way to consider a lease. It allows me to buy more car than I can otherwise afford each month. I am a keep-a-vehicle-forever-guy. I lease for 3 years with a 500 payment, and then finance it for 400 for 4 or 5 more years. Sure I might pay for it for 8 years. But my interest isnt horrible, I am gonna keep it anyway, and no 700 payment.
 

Techun

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2. You just repeated what he said, differently.
3. You do pay taxes on the total price in some states. I want to say in Texas..?


Also no one should ever put money down on a lease, just saying for anyone reading.
 
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Short version. Is you pay a little more for the convenience of having a new car (no equity) over the long term and less in the short term. Financially it is always a loser, especially if you go from lease to lease, due to the fees and always paying the highest amount of depreciation in the life of a vehicle every lease, but you get to drive newer cars under warranty, and that may have considerable value to some people.

Again, people who think they made money because a vehicle was worth more than the residual at the end don't understand leasing, the extra amount it is worth is the extra amount they paid in the monthly payments and buying it at the end or getting something from a dealer to turn it in just lessens that loss.
Please explain how I lost money on my last lease....

I leased a Wrangler Unlimited - automatic, hard top, cold weather package for zero down, sign and drive for only $420 month. Kept it two years and traded it in to buy a new car. The value was so high that I was able to just walk away from it. So I basically got to drive a new Wrangler Unlimited for a monthly payment of $420 for a couple years and then turn it back in. No other costs. That's a pretty good deal if you ask me. I've leased my last 4 or 5 vehicles because I like to get a new car every couple years and I like to keep my payments low. Now, I will admit...Ive been upside down before, but not as much as when I would buy cars...even used ones. But my point is that people crap on leasing but it can be a better option sometimes. Try buying a car and then selling it in two or three years. Yikes. I actually know people that purchased cars and when they went to trade them in years later they were thousands upside down.
 
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Hornet

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Just came out of a 2018 Explorer lease and with less than 10% down on my Bronco the payment was about the same. I was happy with the terms.

⚡⚡Also I bought out my lease on the Explorer for just under $23K and Carvana paid me $28k to buy it. That's $5K check for me vs turning it in. I put $4000 down on Bronco and $1 in my pocket.
 

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Missy_Fussy

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You really just have to look at numbers and then decide if its right for you. When a "lease special" is offered, the payments tend to be better as there are less, or there are no "rental charges" that can get thrown in there. Some deals are better if they are trying to get the car out there. Don't expect a deal on a car if they don't have to convince you to get it.

And yet heres another way to consider a lease. It allows me to buy more car than I can otherwise afford each month. I am a keep-a-vehicle-forever-guy. I lease for 3 years with a 500 payment, and then finance it for 400 for 4 or 5 more years. Sure I might pay for it for 8 years. But my interest isnt horrible, I am gonna keep it anyway, and no 700 payment.
I have leased for years... only because I can't afford a $700 or more per month car payment... and I get tired of things quickly... so 3 years is my only commitment
 

bronconagurski

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The lease on my '19 Honda Civic just ended and I bought the car for $13,800 including tax and fees and Carmax offered me $22,000. Curious to see what my Ford dealer will give me on trade for the Bronco when it arrives.
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