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

RyanRallyX

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So, as the OP said.. Has anyone here leased one and how did you think you did on it?

Please concentrate people.
I posted how I did, and i feel I did okay considering that it was a bronco. Every other lease I have done, my down and total amount of payments equalled the depreciation. But those were a special that was offered. I am paying for more in the long run on this Bronco. But I dont care. 700 a month was not an option but 500 was.

I will say that the calculator, when functioning, was correct and was within a few dollars of what I pay.
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BroncoAZ

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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.
I haven’t found a state yet where you pay sales tax on the entire vehicle purchase price to lease it, but I’m not familiar with every state in that regard. My experience has always been to pay sales tax on the monthly payment.

I disagree that nobody should put money down on a lease. A lease is a simple financial transaction, putting money down simply lowers the financed cost. I look at a lease’s total cost, from inception to returning the vehicle. My current Tacoma 39 month 39K mile term lease of a $41,800 MSRP 2021 Tacoma TRD Off Road has a total lease cost (lease rental for sale price to residual value, dealer doc fees, registration fees, vehicle license tax for year one, and gap insurance) of $15,300. I can split the baby any way I want. $15,300 over 39 months is $392, $15,300 with $4K down is $290 (what I chose), $15,300 with $10K down is $136, or you could just write a check for $15,300 and have a payment of $0. You do save on interest with a down payment, so the all paid upfront option would reduce the overall spend by ~$500. When I leased this Tacoma I was flush with cash from selling my Raptor and 3 other cars, so I seriously considered the prepaid option. I didn’t do it because if the vehicle were to get totaled I probably wouldn’t get a dime of that prepaid lease back.

With a Toyota lease there is an incentive for a higher down payment, they usually allow you extend your lease for 6 more months at the same monthly payment. If I had put 10K down I could keep the vehicle another 6 months and 6K miles for $816, vs $0 would cost $3152. My buddy does this every time with his wife’s Highlander, he puts $10K down on the lease and extends for 6 months with the cheap payment.

If Ford or an independent leasing company was willing to do a residual value in the mid 70% I would probably lease my Badlands. Leasing a first year vehicle with the world’s shittiest hard top is a good idea so you can dump it if there are issues. When I reverse engineered Ford’s lease calculator the residual was around 60%. I haven’t looked at third party but my Bronco is due here in about a week.
 

BroncoAZ

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I’ll add my past lease experiences:

2002 Honda Civic, buy payment was $390 lease was $202, traded before the lease was up for $4K more than buyout
2006 Honda Accord, buy payment was $550 lease $324, turned it in even
2013 Volvo C30 Polestar, buy payment was $525 lease was $535, bought out of the lease for $19K (with taxes) and sold for $21K a few weeks later (should have just bought this one)
2017 Lesbaru Outback, buy payment was $510 lease was $275, turned it in a year early after the car got wrecked and paid $600 because of the diminished value
 

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I haven’t found a state yet where you pay sales tax on the entire vehicle purchase price to lease it
South Carolina retail lease - 5% with a $500 max sales tax. Pay at time of lease and pay again if you do a buyout.
 

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So, as the OP said.. Has anyone here leased one and how did you think you did on it?

Please concentrate people.
I'll help lol....did 4 years 15k miles per year on a basesquatch with 5k down, paying 450 a month. Residuals are good but money factor (interest rate) is absolute garbage compared to my past leases, but that is attributed to the fact that the demand is so high and i did not have any other leasing options from my dealer other than ford credit unfortunately.
 

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RyanRallyX

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I'll help lol....did 4 years 15k miles per year on a basesquatch with 5k down, paying 450 a month. Residuals are good but money factor (interest rate) is absolute garbage compared to my past leases, but that is attributed to the fact that the demand is so high and i did not have any other leasing options from my dealer other than ford credit unfortunately.
That "money factor", " interest rate", " leasing fee" , or rental charge...same same when looking at the lease. This is where we get banged for the privilege of leasing. On high demand vehicles like u stated, this will be higher. So a "good deal" depends on how much you are willing to be punished with this fee.
 

Techun

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I haven’t found a state yet where you pay sales tax on the entire vehicle purchase price to lease it, but I’m not familiar with every state in that regard. My experience has always been to pay sales tax on the monthly payment.

I disagree that nobody should put money down on a lease. A lease is a simple financial transaction, putting money down simply lowers the financed cost. I look at a lease’s total cost, from inception to returning the vehicle. My current Tacoma 39 month 39K mile term lease of a $41,800 MSRP 2021 Tacoma TRD Off Road has a total lease cost (lease rental for sale price to residual value, dealer doc fees, registration fees, vehicle license tax for year one, and gap insurance) of $15,300. I can split the baby any way I want. $15,300 over 39 months is $392, $15,300 with $4K down is $290 (what I chose), $15,300 with $10K down is $136, or you could just write a check for $15,300 and have a payment of $0. You do save on interest with a down payment, so the all paid upfront option would reduce the overall spend by ~$500. When I leased this Tacoma I was flush with cash from selling my Raptor and 3 other cars, so I seriously considered the prepaid option. I didn’t do it because if the vehicle were to get totaled I probably wouldn’t get a dime of that prepaid lease back.

With a Toyota lease there is an incentive for a higher down payment, they usually allow you extend your lease for 6 more months at the same monthly payment. If I had put 10K down I could keep the vehicle another 6 months and 6K miles for $816, vs $0 would cost $3152. My buddy does this every time with his wife’s Highlander, he puts $10K down on the lease and extends for 6 months with the cheap payment.

If Ford or an independent leasing company was willing to do a residual value in the mid 70% I would probably lease my Badlands. Leasing a first year vehicle with the world’s shittiest hard top is a good idea so you can dump it if there are issues. When I reverse engineered Ford’s lease calculator the residual was around 60%. I haven’t looked at third party but my Bronco is due here in about a week.
If you put 5k down on a lease and someone crashes into it when you drive off the lot, you're out 5k with nothing to show for it. That's why you shouldn't put any money down on leases.
 
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I was wondering how everyone else that leased did with it because I’m pretty frugal when buying a car. I use everything to my advantage. I will go in on the last day of the month, pick a vehicle that’s been sitting on their lot, etc… and then beat them up until I get the price and or payment that I want.

I have no negotiating power with this. If they run lease numbers and I don’t like them I can’t just go to another dealer. In fact, they would probably like me to walk because they will make may more putting it on their lot with a huge markup.
 

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This is why I have leased
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.
BAAM ! Nice,y played. My dealer said I had no equity in my explorer - I said to him that's not what Kelly Blue book and Carvana saying.
 

BroncoAZ

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If you put 5k down on a lease and someone crashes into it when you drive off the lot, you're out 5k with nothing to show for it. That's why you shouldn't put any money down on leases.
You are correct, but that applies to a loan with GAP insurance as well as a lease.

I usually put 20-30% down on purchases and borrow the rest for whatever the best interest deal is. Because of the down I skip the gap insurance. My insurance offers a 20% higher value for total loss option for a few bucks a month, I buy that instead.
 

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Sharky1951

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I’ve leased for the last 12 years, purchased a 2021 bronco demo which I’m buying this time, just got rid of my 2019 Landrover Discovery Sport, leased, had 10 months left on lease, paid off lease early & purchsed, then just last week sold to Carvana for a $10,000 profit, to use on purchasing my21 , the only time a lease is bad is if you go over on the mileage, they rob you then, when that happened I had to pay an additional $4000 , so that’s the pros & cons, but a new car every 3 years is nice. Good Luck
 

Sharky1951

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Oh I for got Car max offered $4000 profit & Landrover dealership only offered $2000 profit, it pays to shop around
 

zedster

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May want to check with CarMax or AutoNation that I just sold a 19 Edge to. They currently can not buy leases from a lot of different lease companies. I am sure because of the market these companies want the cars for themselves.
 

Sharky1951

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I haven’t found a state yet where you pay sales tax on the entire vehicle purchase price to lease it, but I’m not familiar with every state in that regard. My experience has always been to pay sales tax on the monthly payment.

I disagree that nobody should put money down on a lease. A lease is a simple financial transaction, putting money down simply lowers the financed cost. I look at a lease’s total cost, from inception to returning the vehicle. My current Tacoma 39 month 39K mile term lease of a $41,800 MSRP 2021 Tacoma TRD Off Road has a total lease cost (lease rental for sale price to residual value, dealer doc fees, registration fees, vehicle license tax for year one, and gap insurance) of $15,300. I can split the baby any way I want. $15,300 over 39 months is $392, $15,300 with $4K down is $290 (what I chose), $15,300 with $10K down is $136, or you could just write a check for $15,300 and have a payment of $0. You do save on interest with a down payment, so the all paid upfront option would reduce the overall spend by ~$500. When I leased this Tacoma I was flush with cash from selling my Raptor and 3 other cars, so I seriously considered the prepaid option. I didn’t do it because if the vehicle were to get totaled I probably wouldn’t get a dime of that prepaid lease back.

With a Toyota lease there is an incentive for a higher down payment, they usually allow you extend your lease for 6 more months at the same monthly payment. If I had put 10K down I could keep the vehicle another 6 months and 6K miles for $816, vs $0 would cost $3152. My buddy does this every time with his wife’s Highlander, he puts $10K down on the lease and extends for 6 months with the cheap payment.

If Ford or an independent leasing company was willing to do a residual value in the mid 70% I would probably lease my Badlands. Leasing a first year vehicle with the world’s shittiest hard top is a good idea so you can dump it if there are issues. When I reverse engineered Ford’s lease calculator the residual was around 60%. I haven’t looked at third party but my Bronco is due here in about a week.
I agree, this has also
been my experience.
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