Considering a Fiesta ST lease; trying to judge if this is a good deal for the car

[turbowned]

Hi Folks,

First post here. Never thought I would consider a Ford in a million years, but the Focus and Fiesta ST are pretty sweet cars, and I need something reasonable practical and very fun, so here we go!

I looked at the possibility of leasing one.
-MSRP $24,630 (Recaro pkg, no sunroof, navigation I think?)
-$1,015.52 discount and $1,500 rebate lower the cap. cost to $22,114.48.
-State sales tax is 6.25% ($1,382 multiplied by the residual percentage) and dealer doc fee and title/registration total $524.

At Tier A, residual value is 62% @ 24mos ($15,270 lease-end value), 53% @ 36mos (13,053), and 51% @ 39mos ($12,561).
Money factor is .75 (assuming that means .75% or .000313) at 24mos, 1.00 @ 36mos (.000416) and 1.25 @ 39mos (.000521)

I see nothing about an acquisition fee or first month's payment?

Basically, at 12,000mi/yr sign-and-drive (zero out-of-pocket expense if I'm understanding this correctly), payments INCLUDING sales tax (6.25% of the payment) and excise tax ($20 for every $1,000 the car is valued at, split up evenly over the term) are as follows:
24mos: $408.41
36mos: $351.18
39mos: $344.15

They calculated the base payment at 39mos to be $302/mo plus taxes. (What I don't understand is the taxes because it should be $18.88/mo for sales tax and excise should be like $12.63; they're telling me $21 and $21 respectively but I can clarify that later)

With $3,000 total out-of-pocket expense, payments INCLUDING sales tax and excise tax are:
24mos: $277.15
36mos: $264.36
39mos: $263.78

I wish I had the base payments on all of these in order to make it easier to compare to other states with varying tax rates, but that's all I've got to go off of. Seems a bit high to me; I've sold Subaru and VW products in the past and they typically have higher residuals and lower money factors. I don't want a GTI or a WRX, though.

I'm just trying to see if I have room to negotiate (I made no effort to) or if this is about right, and if so, which term makes the most financial sense. I typically get bored with cars every couple of years so a 24 month term would be appealing but if it costs relatively more I would go for the 36 month. Or, should I just finance it? At $22k if I could get <2%APR, I could put down a few grand and have a similar payment over 72 months. What to do, what to do...

Thanks everyone in advance for any insight you can provide!!

 

[MyGoKart]

I leased mine. With the Focus RS Coming out soon, I wanted to be out of the FIST by 2017. These cars depreciate pretty strong as is. Then again, my FIST is just a fun commuter car for me.

 

[pelotonracer2]

Hi Folks,

First post here. Never thought I would consider a Ford in a million years, but the Focus and Fiesta ST are pretty sweet cars, and I need something reasonable practical and very fun, so here we go!

I looked at the possibility of leasing one.
-MSRP $24,630 (Recaro pkg, no sunroof, navigation I think?)
-$1,015.52 discount and $1,500 rebate lower the cap. cost to $22,114.48.
-State sales tax is 6.25% ($1,382 multiplied by the residual percentage) and dealer doc fee and title/registration total $524.

At Tier A, residual value is 62% @ 24mos ($15,270 lease-end value), 53% @ 36mos (13,053), and 51% @ 39mos ($12,561).
Money factor is .75 (assuming that means .75% or .000313) at 24mos, 1.00 @ 36mos (.000416) and 1.25 @ 39mos (.000521)

I see nothing about an acquisition fee or first month's payment?

Basically, at 12,000mi/yr sign-and-drive (zero out-of-pocket expense if I'm understanding this correctly), payments INCLUDING sales tax (6.25% of the payment) and excise tax ($20 for every $1,000 the car is valued at, split up evenly over the term) are as follows:
24mos: $408.41
36mos: $351.18
39mos: $344.15

They calculated the base payment at 39mos to be $302/mo plus taxes. (What I don't understand is the taxes because it should be $18.88/mo for sales tax and excise should be like $12.63; they're telling me $21 and $21 respectively but I can clarify that later)

With $3,000 total out-of-pocket expense, payments INCLUDING sales tax and excise tax are:
24mos: $277.15
36mos: $264.36
39mos: $263.78

I wish I had the base payments on all of these in order to make it easier to compare to other states with varying tax rates, but that's all I've got to go off of. Seems a bit high to me; I've sold Subaru and VW products in the past and they typically have higher residuals and lower money factors. I don't want a GTI or a WRX, though.

I'm just trying to see if I have room to negotiate (I made no effort to) or if this is about right, and if so, which term makes the most financial sense. I typically get bored with cars every couple of years so a 24 month term would be appealing but if it costs relatively more I would go for the 36 month. Or, should I just finance it? At $22k if I could get <2%APR, I could put down a few grand and have a similar payment over 72 months. What to do, what to do...

Thanks everyone in advance for any insight you can provide!!

I leased mine. Wish I hadn't. To understand why, look at my signature. lol. There's no way I am going back to stock when the lease is over. So in Febuary 2017 I'll get a loan for $9,000 and just keep it. Yeah, I like it that much. As I mentioned in another thread, I'm going to start looking for a wrecked FiST at the auctions, mainly for the drivetrain so I can keep this running for a long time.

 

[richtor]

I purchased put 3.2k down with a 280 payment on 0% for 72. I like to own myself, and not worry about a so called buy back or limiting miles...which is a good thing as the ST is so much fun to drive!

 

[GAbOS]

I found a 3k odo used fully loaded for 21. I traded in and also got a 2% used loan from USAA.

I was originally looking for a ordered base with just Recaro's. Audio/Nav is easy to fix and the rest of the car's lacking features are exactly why you want one. I need this car for a daily and was being realistic about it. My other manufacture option would have been the Veloster R-Spec. Figure out what suits you best and you can always find teh right deal if you look hard enough.

This car has been exactly what I have expected it would be and more so far.

 

[InsTwin]

Seems like you're just getting the standard discounts, I'd shop around the price at dealerships within a state from you and see what they offer (let them know your serious and looking to hop in the car in the next two weeks). If you get a better price from one of them you can take that back to your original dealer and ask them to match it or walk out.

 

[RStolz]

that looks fair. Not spectacular, but fair.

 

[racered]

Well mine will be traded soon for a jku...... or might sell private party.

Hoping to get 22k.

15 fist
Est. 450 miles
Race red
Dual strip
Painted wheels and calipers
Recaro package black/gray
Tinted 35% front and sides 20 % back
Weather tech floorloners 1st and 2nd row....

Barely broke in, weekend only car, kept under cover... just want a jku now instead....

 

[Shady]

I was in the same boat. Ford was never on my list of cars I wanted. However, I absolutely love the FiST and don't regret getting it at all and if its a car you don't see yourself keeping for a long time or doing a lot of modifications on, then lease it. I leased mine for 2 years because I needed a car and wanted something that I could have fun with but still a brand new car that was in my price range, plus I've wanted the FiST since the feature it on Top Gear years before they even released it in the US and I was instantly impressed with it. And in 2 years I plan on being in a better financial position where I would want to consider a higher end car. I've also done a couple mods but nothing that cannot be easily reversed for when the time comes.

My lease is under $300/month for 24 months at 10K miles a year(I've had it for a year and only at 5k right now so cutting mileage per year down was the best choice) and I didn't have the best credit at the time of signing and only put $1,000 out of pocket. They were pretty negotiable because they opened well above the prices they listed for you. 24 Month with my credit they wanted $475/month to begin with, I am about $200 a month negotiated under from where they started for my lease payments. Just find the hungriest salesperson at the dealer(usually the guys standing in the customer parking lot waiting to pounce first, lol), go in towards the end of the month when they want to make their numbers(last couple days is the best since they will do a lot more for you to get another sale for that month to make the numbers better), and usually the best day to get the best deals is a Wednesday. I used to work in dealership so those are some tricks to getting better deals, and if the last day of the month is a Wednesday, even better! I've seen cars sell at prices I would never have thought would be agreed on for a walk in customer, basically close to the employee pricing which most dealers won't even get close to for a simple walk in. Walk in there with a monthly price in your head that is a lot better than what you are comfortable with paying a month. I was comfortable with $325-350/month all in(taxes etc), I walked in and said I want to pay $225/Month and stuck with it pretty firm and even said I would leave a couple times and was all the way in the parking lot twice because I was in no rush to even purchase a car that day, until they got around my $325-350 range when I said okay lets try to work at $250, Then $275 and then they met me in the middle(my salesperson worked his ass off to get the deal where I wanted it, thats why I say get someone who wants to make the sale and are hungry for it, we spent hours working on the deal). I also took a complete base ST with no Recaros, sunroof etc for better pricing. My only "options" were an Alarm and Rado Gray wheels. I could have had a full ST3 for like $75 more a month but didn't care about the options because I never thought I would keep the car in the long run.

After owning the car for a year now I wish I would have gotten some of the extras, but I am torn with buying it out once the lease is up because I absolutely love the car and its going to such a low mileage car that I don't want to give it back to them so they can make more money on it lol, but sometimes a new Cadillac ATS-V or just something more powerful and RWD or even a truck in general is calling my name lol. Only time will tell what I decide when the time comes to either part or pay.

Hope any of my information with my dealings in leasing a FiST will help you figure out where you want to be.

 

[richtor]

Well mine will be traded soon for a jku...... or might sell private party.

Hoping to get 22k.

15 fist
Est. 450 miles
Race red
Dual strip
Painted wheels and calipers
Recaro package black/gray
Tinted 35% front and sides 20 % back
Weather tech floorloners 1st and 2nd row....

Barely broke in, weekend only car, kept under cover... just want a jku now instead....

I put 70k miles on a new 12 JK Rubicon the last three years, while its a good vehicle it's not a daily driver. I would only have one again as a second car. I have had the ST now for a month and it's a blast. No way would I trade for a jeep stock for stock. ST daily and Rubi weekend sure!

Also good luck on 22k for a used ST when they are that new with 0 for 72 financing.

 

[racered]

Well i have a good down payment in it, and like i said... this is purely a weekend vehicle. Period i dont drive this car anytime except the weekend. I have a company vehicle for the week
...

But id be happy with less money out of it...

But i plan on getting the rubi or a willys wheeler