2013 GT500 Lease?

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  1. #1
    Sonic Masterpiece Array GhostGT's Avatar
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    Icon5 2013 GT500 Lease?

    Have you heard of a lease being offered on the 2013s yet? The reason I ask is because a dealership in my area told me "we'd never lease any GT500s," and this was last year (2011). However, it seems like quite a few people have been able to lease a GT500 around the US. Additionally, these aren't the "open-end" leases that consist of a mandatory balloon payment at the end of the finance term; they're true leases with $2-3,000 down, $5-700 a month payments for 3-4 years.

    Just wondering if anyone can provide me with some information. Anything helps.


    Cheers,

    Chris

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  3. #2
    Premium Member Array Eric Brooks's Avatar
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    Very interesting. I'd like to hear more about this as well.

  4. #3

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    Quote Originally Posted by GhostGT View Post
    Have you heard of a lease being offered on the 2013s yet? The reason I ask is because a dealership in my area told me "we'd never lease any GT500s," and this was last year (2011). However, it seems like quite a few people have been able to lease a GT500 around the US. Additionally, these aren't the "open-end" leases that consist of a mandatory balloon payment at the end of the finance term; they're true leases with $2-3,000 down, $5-700 a month payments for 3-4 years.
    Just wondering if anyone can provide me with some information. Anything helps.


    Cheers,

    Chris
    I have never bought a car new, only through CL on a used car..

    Isn't this how you buy a car? whats the difference between buying and leasing?

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  6. #4
    Sonic Masterpiece Array GhostGT's Avatar
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    Quote Originally Posted by CopMagnet View Post
    I have never bought a car new, only through CL on a used car..

    Isn't this how you buy a car? whats the difference between buying and leasing?

    Not exactly. There are multiple ways to get the car itself, but the two most popular options are to either finance the car (as a purchase) or to lease it. When you purchase a car (and subsequently finance it), you're paying a monthly installment for X amount of years; at the end of the negotiated term, you own the car. It's all yours.

    With a standard lease, though, you're technically renting a car and only paying for the depreciation. There are fixed terms (leases usually range from 30-48 months, mileage is usually limited, etc.), and at the end of the period, you return the car to the dealership. You also have the option (but not the obligation) to purchase the vehicle at the end of the lease term, either by a balloon payment, or a subsequent finance option.

    Simply put, you can lease a vehicle for little to no money down, and with lower monthly payments when compared to a purchase.

    Example: 2013 BMW M3

    Lease: $1500 down payment, 36 month lease term, 10,000 miles/year allowed, $800/month payment.
    Purchase: $7000 down payment, 60 month finance term, no limits on mileage (it's your car to keep), $1350/month payment.



    I use the M as an example because of BMW's fantastic lease rates. As you can see, the difference is huge. However, both have their pros and cons, and it really does depend on your situation/preference.

    _________________________________________

    The problem with current 2013 GT500 "leases" is the lack of any support/incentives from Ford. You're basically "financing" the car for, say, 36 months, but you're also required to put down a huge down payment ($10,000), AND you're also forced to purchase the car at the end of the lease term. In other words, it isn't a true lease (they like to call it an open-ended lease. )

  7. #5

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    Quote Originally Posted by GhostGT View Post
    Not exactly. There are multiple ways to get the car itself, but the two most popular options are to either finance the car (as a purchase) or to lease it. When you purchase a car (and subsequently finance it), you're paying a monthly installment for X amount of years; at the end of the negotiated term, you own the car. It's all yours.

    With a standard lease, though, you're technically renting a car and only paying for the depreciation. There are fixed terms (leases usually range from 30-48 months, mileage is usually limited, etc.), and at the end of the period, you return the car to the dealership. You also have the option (but not the obligation) to purchase the vehicle at the end of the lease term, either by a balloon payment, or a subsequent finance option.

    Simply put, you can lease a vehicle for little to no money down, and with lower monthly payments when compared to a purchase.

    Example: 2013 BMW M3

    Lease: $1500 down payment, 36 month lease term, 10,000 miles/year allowed, $800/month payment.
    Purchase: $7000 down payment, 60 month finance term, no limits on mileage (it's your car to keep), $1350/month payment.



    I use the M as an example because of BMW's fantastic lease rates. As you can see, the difference is huge. However, both have their pros and cons, and it really does depend on your situation/preference.

    _________________________________________

    The problem with current 2013 GT500 "leases" is the lack of any support/incentives from Ford. You're basically "financing" the car for, say, 36 months, but you're also required to put down a huge down payment ($10,000), AND you're also forced to purchase the car at the end of the lease term. In other words, it isn't a true lease (they like to call it an open-ended lease. )
    I see, thats for explaining!

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