F150 Duke Posted March 21, 2009 Report Share Posted March 21, 2009 Hey Guys, Quick question. Does Ford offer a lease on the GT500? I'm thinking on waiting for the 2011, but it'd be too good to be true if I could do a 1 year lease on a 2010 GT500, then drop the lease at a year for a 2011 in the event that it gets a new engine. It wouldn't work well to well to just buy it with traditional financing then try and trade in or sell for a 2011 b/c I'd get killed with depreciation. Am I just dreaming trying to find a way against heding the risk of waiting for the 2011? Duke Link to comment Share on other sites More sharing options...
06VistaBlueGT Posted March 21, 2009 Report Share Posted March 21, 2009 Hey Guys, Quick question. Does Ford offer a lease on the GT500? I'm thinking on waiting for the 2011, but it'd be too good to be true if I could do a 1 year lease on a 2010 GT500, then drop the lease at a year for a 2011 in the event that it gets a new engine. It wouldn't work well to well to just buy it with traditional financing then try and trade in or sell for a 2011 b/c I'd get killed with depreciation. Am I just dreaming trying to find a way against heding the risk of waiting for the 2011? Duke Hey Duke, while you can "technically" lease a GT500, its not very financially feasible, as its not a car that Ford has any special lease programs on (rates, rebates, etc), compared to a Fusion, or Edge. Plus, Ford doesn't do anything shorter than 24 months. Link to comment Share on other sites More sharing options...
F150 Duke Posted March 21, 2009 Author Report Share Posted March 21, 2009 Hey Duke, while you can "technically" lease a GT500, its not very financially feasible, as its not a car that Ford has any special lease programs on (rates, rebates, etc), compared to a Fusion, or Edge. Plus, Ford doesn't do anything shorter than 24 months. Yeah, that's what I figured. I'll just take my chances and wait for 2011. Only one more year.... Link to comment Share on other sites More sharing options...
Five Oh B Posted March 21, 2009 Report Share Posted March 21, 2009 While Ford Credit does not offer leases shorter than 24 months, you can often find a fleet manager who had alternative arrangements for shorter leasing (common with fleet customers). At the dealership I work for, as an example, our fleet manager has a leasing company they deal with that is very flexible on lease details to meet any and all circumstances. Once upon a time, I was a cars salesman who did a lot of leasing. I was also a finance manager for our dealership for a couple years. And, I have a degree in finance. Glad I'm not selling or financing cars anymore, but I have some info that may help you in your decision.... If you could find a 1 year lease, the terms would likely be very steep. I am only offering a rough estimate here, but let's say you get a 2010 GT500 for MSRP (let's use $50K as a nice round # for a coupe with a few options). Then, let's say the lesser believes the residual in 1 year to be 70% (that's probably a good guess, but only a guess), then that would be a $35K residual at lease end. That leaves you with the difference of $15K to pay during the 1 year lease for the car itself. You'll likely have to pay an origination fee and/or deposit of some sort (usually a month's payment), plus licensing, and sales tax on the capital reduction paid upfront, interest, and the 1st month's payment is due at delivery. My best guess is that you'd need about $3,500 cash down and would have 11 more payments of about $1,200 per month in this example. So, you'd likely pay a total of $16,700 to drive a 2010 GT500 for a year. In comparison, let's say you bought that same 2010 GT500 cash for $50K. Add tax & licensing (in my state you'd be looking at roughly $55K out-the-door). If you sold it after a year of ownership, how much could you get for it? If you sold it for $39K a year from now, you'd have lost about $16K, which is slightly better than what you may spend to lease for a year. If you could sell it (or trade it in) for over $40K, you'd definitely be in a better position than leasing for a year. On a mainstream car with attractive rates & residuals, a lease works very nicely. The GT500 gets no special rates, though, so I'd say that a lease in this situation is not the route to go. Hope this helps. Link to comment Share on other sites More sharing options...
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