2024 Base Lariat Lease - Is this a good deal?

[fmflex]

Hey all!

Need some advice. Looking at a brand new 2024 Base Lariat (like no additional options other than the mobile charger), 39mo lease, 15K miles, $0 due on delivery. $731.46 + $47.54 tax (my state taxes on a per payment basis) Total monthly payment $779.00. Good or bad deal?

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[rdr854]

Depends on the sale price and the residual values. Also, what is the money factor?

 

[fmflex]

Depends on the sale price and the residual values. Also, what is the money factor?

Pardon my ignorance but why does it matter what the sales price, residual value or the interest rate is on a lease? When you’re “renting”something isn’t the rent fee the only thing that matters? If I’m “renting” a hotel room for a night, I don’t care what the building sold for, what’s it’s depreciated value is or what the terms on their mortgage are. All that matters is what’s my nightly rate and does it include breakfast . No?

 

[Oafy44]

Hey all!

Need some advice. Looking at a brand new 2024 Base Lariat (like no additional options other than the mobile charger), 39mo lease, 15K miles, $0 due on delivery. $731.46 + $47.54 tax (my state taxes on a per payment basis) Total monthly payment $779.00. Good or bad deal?

I personally don’t think it’s an amazing deal. It’s definitely what is being promoted on the current offers.

My guess if you’re going to keep it for 39 months - you could be putting that payment towards the truck if you bought a great deal at 0% financing- which they are offering.


but if you only keep your trucks for a small amount of time this truck / like most others will depreciate significantly over 39 months so it’s anyone’s guess what it would be worth if you wanted to sell it in 39 months if you decided to finance it at 0%

IF you don’t care about color I think the better play is finding a flash lease for $600 down and $550 a month. It’s basically the same model in 24(I had a 23 lariat and other then the active x seats and cooled seats - they are pretty much the same I believe.

 

[rikster63]

I think leasing an eV is actually a relatively good idea in our rapidly changing environment. With the technology improving rapidly right now, and the enormous depreciation hit we all took when we bought our Lightning trucks, an argument can definitely be made that a lease will cap your losses to just the monthly payments, and that there will be something much more desirable (and possibly cheaper) in 3 years when the lease is up.


You'll have a residual value for a leased truck also, so if the truck somehow does hold it's value better than expected over the next 3 years, you can buy it outright for the residual (or sell it, trade it in, etc.).

I leased a Chevy Silverado ICE vehicle in 2021 during Covid, and when the 3-year lease was up on that one I had like $15k in positive equity on it, which I used to buy a Lightning truck.

Just one man's opinion, though, and there will be many "lease haters" that will chime in I'm sure!

 

[fmflex]

I think leasing an eV is actually a relatively good idea in our rapidly changing environment. With the technology improving rapidly right now, and the enormous depreciation hit we all took when we bought our Lightning trucks, an argument can definitely be made that a lease will cap your losses to just the monthly payments, and that there will be something much more desirable (and possibly cheaper) in 3 years when the lease is up.


You'll have a residual value for a leased truck also, so if the truck somehow does hold it's value better than expected over the next 3 years, you can buy it outright for the residual (or sell it, trade it in, etc.).

I leased a Chevy Silverado ICE vehicle in 2021 during Covid, and when the 3-year lease was up on that one I had like $15k in positive equity on it, which I used to buy a Lightning truck.

Just one man's opinion, though, and there will be many "lease haters" that will chime in I'm sure!

I agree. 1) EV tech is evolving rapidly. And prices keep coming down. I really like the GMC Denali EV but I’m not paying 100k lol. In 3 years that probably going to be more like 70k. 2) it’s for my business. So I get to write the whole lease payment off. That’s like a 30% savings off the top. Yes, I know that most of the trucks I can write off in year one cause they’re over the IRS weight limit. But I’d rather not have any maintenance ever and take on the unknown risk of battery degradation.

 

[Ricks Lightning]

Lease is the way to go with a business and in 3 years 36 months/ (39) you'll be off the hook as long as you don't destroy it.
That's what I did with my new flash. Back in sept, there was not 0% financing (1.1%) only on purchase. My 23 pro was 0 down 0 financing. I was actually able to sell it months later and Ford allowed the new buyer to take over my deal with 0 out of pocket and the first 2 months pre paid by me.
The Flash i decided to lease to prevent the big hit upon depreciation.

My loaded Flash / pro power, tow technology, , AT tires, cab matts. sprayed bed liner, charger, 73k msrp with taxes is 799. a month 36 months. 0 down. 1.1% interest. that was in Sept.

Not the best deal, not the worst back then.

Rick

 

[Zman9745]

Hey all!

Need some advice. Looking at a brand new 2024 Base Lariat (like no additional options other than the mobile charger), 39mo lease, 15K miles, $0 due on delivery. $731.46 + $47.54 tax (my state taxes on a per payment basis) Total monthly payment $779.00. Good or bad deal?

Yes it looks good. My lease was $8500 down and $450 per month. Your payment basically includes financing the downpayment over the lease term.

 

[TonyCO]

Are you getting tax money back? Just for info I leased a 2024 XLT back in December when the deals were hot. I’ve never owned an EV and I’ve never leased a vehicle so I obviously thought this was a smart deal for me. Zero down and the leasing company took the $7500 federal tax credit to get me to $440 and month for 24 months. I just did my taxes and I received a $5000 state refund from CO. If you are not getting any tax money I think you can wait it out and do better. I was dealing with multiple dealers and it took me five weeks to get this deal. I wanted the truck, I didn’t need it.

 

[MotoGary]

Leasing has only made sense for me when I could use the vehicle for business. I think EVs may be the exception. The only way I will get another EV is if I can get a great lease deal.

 

[broncoaz]

Hey all!

Need some advice. Looking at a brand new 2024 Base Lariat (like no additional options other than the mobile charger), 39mo lease, 15K miles, $0 due on delivery. $731.46 + $47.54 tax (my state taxes on a per payment basis) Total monthly payment $779.00. Good or bad deal?

Total of payments is $30,381 including the 6.5% sales tax, I don’t think it’s a good deal. Compare to my $73K MSRP 2024 Flash lease at $18,900 out the door for a 36 month 36K lease including 6.25% sales tax and all fees. I’m collecting another $7,500 back from a state rebate for a total out the door of $11,400, but that doesn’t apply everywhere. Upping mine to 15K miles per year would’ve increased my payment $25 per month, or another $900. Keep looking, I think you can do better.

Pardon my ignorance but why does it matter what the sales price, residual value or the interest rate is on a lease? When you’re “renting”something isn’t the rent fee the only thing that matters? If I’m “renting” a hotel room for a night, I don’t care what the building sold for, what’s it’s depreciated value is or what the terms on their mortgage are. All that matters is what’s my nightly rate and does it include breakfast . No?

The figures are used to calculate the lease rate. If the dealer bumps the residual value it drops the amount of the truck you’re paying for, reducing your payment.. the money factor is the interest rate on the lease, can be manipulated. Obviously sales price is important to see what discounts from MSRP are being applied. I want to know how the sausage is made. People who don’t understand all the nuances are the ones who get fleeced.

 

[Django]

Hey all!

Need some advice. Looking at a brand new 2024 Base Lariat (like no additional options other than the mobile charger), 39mo lease, 15K miles, $0 due on delivery. $731.46 + $47.54 tax (my state taxes on a per payment basis) Total monthly payment $779.00. Good or bad deal?

are you planning on keeping it afterwards? / (financing the remaining value later on after the lease)

Also, consider your driving habits and needs since you will be limited to a certain annual mileage. Unless you are using this vehicle solely for your daily commute, this is another factor to take into account.

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