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The Internet offers a quick, efficient way to request auto lease quotes from multiple dealers. We recommend clicking on each of the links below to harvest two or three quotes before setting off to do battle.

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Calculating Ford Lease Payments

Ford APR Method
The interest rate quoted by Ford dealers will not represent the true APR of the lease. This is because Ford adds an administrative fee of approximately 0.00111 times the cap cost to each monthly payment. This makes the monthly payments fell about 1.5% higher than the rate quoted by the Ford dealer. Consider the sample Ford lease below:

Cap Cost = $21,400
Residual = $16,683
Months = 24
Interest Rate Quoted by Dealer: 9.0%

The Ford Payment would be the monthly payment at 9% using the constant yield method plus 0.00111 times the cap cost, or

$338.08 + $21,400 (.00111) = $361.84

The equivalent APR for this monthly payment stream is 10.5%.

This hidden fee can add up to a significant amount of money, particularly on more expense vehicles. For example, the fee on a vehicle with a $25,000 cap cost is $27.75 per month times say 36 months. This adds up to a whopping $999.00!

Investigations and Lawsuits
In November of last year, Florida's Attorney General announced that Ford Motor Credit and it's dealers are the target of a 22-state investigation looking into Ford's allegedly deceptive practices under it's Red Carpet leasing program. The AG's are investigating such practices as pay packing, failing to properly credit trade-in's and cash payments, secret price increases, and misrepresenting the cost of lease transactions.

Class action suits against Ford Motor Credit have now been filed in over 30 states. The lawsuits allege deceptive lease practices and fraud.

For the above reasons, we strongly recommend against leasing from Ford dealers through Ford Motor Credit.



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