Now is the time to lease a supercar!
5/6/11, 03:39 PM
#21
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
How to acquire a supercar, another perspective:
Bank A loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 72 months at 4% interest would be $749.01 per month.
Terms:
At the end of six years, but not until prior to then, you would own your car and you would be given the title at this time. To acquire this car at the end of 72 months, you would have made monthly payments of $749.01 x 72 plus your deposit of $2000 for a grand total of $55,929.
Bank B loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 39 months would be $541 per month. Bank B says this is a unique way to acquire a supercar for a lower monthly payment, they call it a lease, but there are a few caveats.
1. This low monthly rate allows you to put on a total of 12,000 miles per year. If you would like a 15,000 miles per year allowance, then it will cost you $24 more per month. But most people don't put more than 12,000 miles per year on a GT500, so you should be fine. Or you can pay for any extra miles you use at the end of the 39 months.
2. At the end of 39 months, you must return the car to us in reasonable condition for it's miles.
But our lease has benefits Bank A doesn't offer.
1. Your monthy payment of $541 is $200 a month less than Bank A.
2. If you don't want the car after 39 months, for any reason (ie. bad economy, high gas prices, change in health, baby on the way etc.), we will take it back with a disposition fee of $395, no questions asked. Try to do that with Bank A.
3. You have an option to buy it if you want to at the end of the lease, if you just gotta keep it. Since we saved you $200 per month over Bank A, you now have $7800 saved of liquid cash to use as a deposit to finance this car or the 50th anniversary SVT Cobra, a hellava car. We give you more flexibility. Give it back, keep it, or use the money saved with us on a brand new car of your choice at the end of your lease.
Who knows, with all the hot chicks you'll attract with your GT500, maybe you'll need a minivan by the end of your lease!
Bank A loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 72 months at 4% interest would be $749.01 per month.
Terms:
At the end of six years, but not until prior to then, you would own your car and you would be given the title at this time. To acquire this car at the end of 72 months, you would have made monthly payments of $749.01 x 72 plus your deposit of $2000 for a grand total of $55,929.
Bank B loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 39 months would be $541 per month. Bank B says this is a unique way to acquire a supercar for a lower monthly payment, they call it a lease, but there are a few caveats.
1. This low monthly rate allows you to put on a total of 12,000 miles per year. If you would like a 15,000 miles per year allowance, then it will cost you $24 more per month. But most people don't put more than 12,000 miles per year on a GT500, so you should be fine. Or you can pay for any extra miles you use at the end of the 39 months.
2. At the end of 39 months, you must return the car to us in reasonable condition for it's miles.
But our lease has benefits Bank A doesn't offer.
1. Your monthy payment of $541 is $200 a month less than Bank A.
2. If you don't want the car after 39 months, for any reason (ie. bad economy, high gas prices, change in health, baby on the way etc.), we will take it back with a disposition fee of $395, no questions asked. Try to do that with Bank A.
3. You have an option to buy it if you want to at the end of the lease, if you just gotta keep it. Since we saved you $200 per month over Bank A, you now have $7800 saved of liquid cash to use as a deposit to finance this car or the 50th anniversary SVT Cobra, a hellava car. We give you more flexibility. Give it back, keep it, or use the money saved with us on a brand new car of your choice at the end of your lease.
Who knows, with all the hot chicks you'll attract with your GT500, maybe you'll need a minivan by the end of your lease!
Last edited by windsor202; 5/6/11 at 06:50 PM.
5/6/11, 04:02 PM
#22
How to acquire a supercar, another perspective:
Bank A loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 72 months at 4% interest would be $749.01 per month.
Terms:
At the end of six years, but not until prior to then, you would own your car and you would be given the title at this time. To acquire this car at the end of 72 months, you would have made monthly payments of $749.01 x 72 plus your deposit of $2000 for a grand total of $55,929.
Bank B loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 39 months would be $541 per month. Bank B says this is a unique way to acquire a supercar for a lower monthly payment, they call it a lease, but there are a few caveats.
1. This low monthly rate allows you to put on a total of 12,000 miles per year. If you would like a 15,000 miles per year allowance, then it will cost you $24 more per month. But most people don't put more than 12,000 miles per year on a GT500, so you should be fine. Or you can pay for any extra miles you use at the end of the 39 months.
2. At the end of 39 months, you must return the car to us in reasonable condition for it's miles.
But our lease has benefits Bank A doesn't offer.
1. Your monthy payment of $541 is $200 a month less than Bank A.
2. If you don't want the car after 39 months, for any reason (ie. bad economy, high gas prices, change in health, baby on the way etc.), we will take it back with a disposition fee of $395, no questions asked. Try to do that with Bank A.
3. You have an option to buy it if you want to at the end of the lease, if you just gotta keep it. Since we saved you $200 per month over Bank A, you now have $7800 saved of liquid cash to use as a deposit to finance this car or the 50th anniversary SVT Cobra, a hellava car. We give you more flexibility. Give it back, keep it, or use the money saved with us on a brand new car of your choice.
Who knows, with all the hot chicks you'll attract, maybe you'll need a minivan!
Bank A loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 72 months at 4% interest would be $749.01 per month.
Terms:
At the end of six years, but not until prior to then, you would own your car and you would be given the title at this time. To acquire this car at the end of 72 months, you would have made monthly payments of $749.01 x 72 plus your deposit of $2000 for a grand total of $55,929.
Bank B loans you $47,369 to acquire a 2012 Shelby GT500 at an X-plan price of $49,369. With $2,000 down, $47,369 financed for 39 months would be $541 per month. Bank B says this is a unique way to acquire a supercar for a lower monthly payment, they call it a lease, but there are a few caveats.
1. This low monthly rate allows you to put on a total of 12,000 miles per year. If you would like a 15,000 miles per year allowance, then it will cost you $24 more per month. But most people don't put more than 12,000 miles per year on a GT500, so you should be fine. Or you can pay for any extra miles you use at the end of the 39 months.
2. At the end of 39 months, you must return the car to us in reasonable condition for it's miles.
But our lease has benefits Bank A doesn't offer.
1. Your monthy payment of $541 is $200 a month less than Bank A.
2. If you don't want the car after 39 months, for any reason (ie. bad economy, high gas prices, change in health, baby on the way etc.), we will take it back with a disposition fee of $395, no questions asked. Try to do that with Bank A.
3. You have an option to buy it if you want to at the end of the lease, if you just gotta keep it. Since we saved you $200 per month over Bank A, you now have $7800 saved of liquid cash to use as a deposit to finance this car or the 50th anniversary SVT Cobra, a hellava car. We give you more flexibility. Give it back, keep it, or use the money saved with us on a brand new car of your choice.
Who knows, with all the hot chicks you'll attract, maybe you'll need a minivan!
He said minvan
5/6/11, 09:45 PM
#24
Tasca Super Boss 429 Member
Join Date: November 14, 2007
Location: Pacific NW USA
Posts: 3,652
Likes: 0
Received 8 Likes
on
6 Posts
I just signed up specifically to ask you about this. Because my local IL ford dealer is telling me that there is NO lease deals and they dont even show a residual for the GT500. So how are you getting this?
Brian
Edit: I just called portsmouth ford in your state of NH, and they said you cant even lease one through Ford red carpet lease. So what bank did this for you? 5/3 or maybe wells fargo?
Brian
Edit: I just called portsmouth ford in your state of NH, and they said you cant even lease one through Ford red carpet lease. So what bank did this for you? 5/3 or maybe wells fargo?
5/6/11, 10:15 PM
#25
Banned
Join Date: May 6, 2011
Posts: 50
Likes: 0
Received 0 Likes
on
0 Posts
+1. As a Ford salesman, I have access to Ford's financing info. I just pulled up the current 2011 and 2012 lease residual .pdf's and GT500 are not listed. No residuals for any Mustangs other than V6 & GT's. And, GT500's do not qualify for any special lease rates. Standard lease rates are over 10%, so this would not make for a good lease program even if there were high residuals.
5/7/11, 12:03 AM
#26
I know things change because years ago, Ford would not lease the GTs. I also saw on another post that a forum member leased his GT through a bank and got a better deal than through Ford. I believe the OP was looking at what used GT500s are selling for to determine residual. Not sure how accurate that is, but shouldn't a Ford dealership be able to determine the residual value of one of their own stock vehicles? It isn't like they are custom cars are anything. They are all the same with very few options. And I see them used on dealer lots sometimes, so they must have a way of valuing them as trade ins.
5/7/11, 06:17 AM
#27
Mach 1 Member
Jaybertx, what is your lease payment per month, as opposed to financing it over 5~7 years? Is it a significant savings per month? I am asking because the OP is basing his deal on residual value of the GT500 being pretty high. I know the GT will depreciate faster, so I am wondering if the monthly lease payment will be close to financing it.
I still think leasing is a good option in some cases. The nightmares I have heard are from young people who got talked into leasing cars they never should have been driving...like young Ryan and Breanna - leased a 2001 Passat for like $600 a month for 4 years (yeah, I know, ouch!! Ryan actually paid additional dealer mark-up...on a Passat). They HATED that car after 2 or 3 years and had to not drive it for the last 9 months of the lease. Car broke down repeatedly over the term. But, at least they learned their lesson...next they leased a used Mercedes SLK - which they eventually dropped back off at the dealership and turned in the keys.
I still think leasing is a good option in some cases. The nightmares I have heard are from young people who got talked into leasing cars they never should have been driving...like young Ryan and Breanna - leased a 2001 Passat for like $600 a month for 4 years (yeah, I know, ouch!! Ryan actually paid additional dealer mark-up...on a Passat). They HATED that car after 2 or 3 years and had to not drive it for the last 9 months of the lease. Car broke down repeatedly over the term. But, at least they learned their lesson...next they leased a used Mercedes SLK - which they eventually dropped back off at the dealership and turned in the keys.
That lease horror story isn't uncommon. Go look at Swap-a-lease and you'll see a LOT of bad leases and people trying to get out of them. You just have to educate yourself and realize that a lease isn't a rental -- as the buyer you still have the power to negotiate the price of the car and the price of the trade if any.
5/7/11, 07:48 AM
#28
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
Sorry, just got to my computer. You can get immediate quotes online through LeaseCompare.com. They use a number of banks for leasing, but they told me the bank they use the most is U.S. Bank. There is full disclosure on their web site, you can plug in your credit score, and change options on the car. They can buy the car for you below MSRP, then lease it to you, or they allow you to negotiate the price while they simply do the financing. There are aqustion fees which are built into the monthly payments they quote online, and they show you residual and money factors. It's important to mention that the cost to lease through a bank is likely to increase (until you lock of course) through the course of a year as they adjust residuals every two months. The 2012 Mustang V6, 5.0, Boss 302, and Shelby GT500 residuals showed up on their website April 1st. The residual value might drop June 1st (or maybe hold?), but if I apply for a lease by the end of this month, my rate will be locked for 30 days.
When I saw the monthly rate drop by leasing a 2012 GT 500 vs. a 2011, that's when I placed my order. Now my car just has to be delivered by July 1st.
If anyone can find a better leasing deal than this, please share!
When I saw the monthly rate drop by leasing a 2012 GT 500 vs. a 2011, that's when I placed my order. Now my car just has to be delivered by July 1st.
If anyone can find a better leasing deal than this, please share!
5/7/11, 08:12 AM
#29
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
Or in a time of economic uncertainty. Now that ADM's are gone on GT500's, and they can easily be bought at invoice or X-plan, the used car market value will drop on these cars. Unless someone takes out a 48 month loan or less, and/or puts down a substantial downpayment on a new GT500, I believe there is no way you can walk away at the end of three years like you can with a lease. Of couse we're talking new cars here.
But as the say, one mans loss is another mans gain. Should the value of the specialty car market fall, they can then be purchased for bargan prices as used.
But as the say, one mans loss is another mans gain. Should the value of the specialty car market fall, they can then be purchased for bargan prices as used.
5/7/11, 08:29 AM
#30
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
LeaseCompare.com is the marketing website for Automobile Consumer Services, Inc. of Cincinnat OH. They have been a BBB member since 1997, and have an A+ rating with them.
Again, if someone can find a better leasing deal on a GT500, I'm on it!
Again, if someone can find a better leasing deal on a GT500, I'm on it!
7/31/11, 03:41 PM
#31
Cobra Member
Join Date: November 30, 2005
Location: Dallas, TX
Posts: 1,014
Likes: 0
Received 0 Likes
on
0 Posts
Hey bud did you ever go through with this? I'm highly considering going the lease route
7/31/11, 05:25 PM
#32
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
My car was built June 3rd, delivered to dealer June 23rd. It took a few days to finalize the lease paperwork, and I picked up the car June 28th. Dealer was honest and fantastic. He only gets one GT500 per year. Since I bought it on x-plan, I asked him if he regreted the deal. He said absolutely not, because I showed him a way to lease Mustang GT's at very competitive rates. He couldn't believe how much I was paying each month for my GT500.
$2000 down, x-plan.....$540.80 per month. Leasecompare.com, aka ACS Financing was a breeze to work with...100% honest, as was my dealer.
Unbelievable car!
$2000 down, x-plan.....$540.80 per month. Leasecompare.com, aka ACS Financing was a breeze to work with...100% honest, as was my dealer.
Unbelievable car!
7/31/11, 06:14 PM
#33
Bullitt Member
Join Date: July 11, 2006
Location: Edmonton, Alberta
Posts: 423
Likes: 0
Received 0 Likes
on
0 Posts
Beautiful...
How do you like the sun roof? I am getting a 13 and was wondering if it is worth it...Any other updates? Do you know how it compares to the track pack? Thanks again...
How do you like the sun roof? I am getting a 13 and was wondering if it is worth it...Any other updates? Do you know how it compares to the track pack? Thanks again...
7/31/11, 09:47 PM
#34
Cobra R Member
That car is sweet!! Even better of a deal! I can't remember the pics I just saw, isn't it a glass roof rather than a sun roof?
I'm just very proud for you!!! Cant wait to see more of it.
I'm just very proud for you!!! Cant wait to see more of it.
7/31/11, 11:57 PM
#38
Cobra Member
Join Date: November 30, 2005
Location: Dallas, TX
Posts: 1,014
Likes: 0
Received 0 Likes
on
0 Posts
My car was built June 3rd, delivered to dealer June 23rd. It took a few days to finalize the lease paperwork, and I picked up the car June 28th. Dealer was honest and fantastic. He only gets one GT500 per year. Since I bought it on x-plan, I asked him if he regreted the deal. He said absolutely not, because I showed him a way to lease Mustang GT's at very competitive rates. He couldn't believe how much I was paying each month for my GT500.
$2000 down, x-plan.....$540.80 per month. Leasecompare.com, aka ACS Financing was a breeze to work with...100% honest, as was my dealer.
Unbelievable car!
$2000 down, x-plan.....$540.80 per month. Leasecompare.com, aka ACS Financing was a breeze to work with...100% honest, as was my dealer.
Unbelievable car!
8/1/11, 06:30 AM
#39
GT Member
Thread Starter
Join Date: January 2, 2009
Location: New Hampshire
Posts: 107
Likes: 0
Received 0 Likes
on
0 Posts
Ok, my definition of a true supercar is the Ford GT.
I threw "supercar" in there as a headline grabber for attention, and because Ford used it to describe the new GT500 when it was released. One magazine had a test of high performance cars, GT500 included, and called it the "Battle of the Supercars". Hyperbole.
I think we can all agree that we can call it fast. Really fast.
I threw "supercar" in there as a headline grabber for attention, and because Ford used it to describe the new GT500 when it was released. One magazine had a test of high performance cars, GT500 included, and called it the "Battle of the Supercars". Hyperbole.
I think we can all agree that we can call it fast. Really fast.
Last edited by windsor202; 8/1/11 at 06:45 AM.