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Is this a good lease deal for 2020 Ford Explorer ST?

They started much higher but this was the final:

$585/month

15k miles/year 

$4500 down

What do you think? 

MSRP is just under 60k

7 Answers

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  • Anonymous
    2 months ago
    Favourite answer

    It depends on your income but if you making under $100k a year then this would be a stupid investment. But if your rich then i don't see why not.

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  • 2 months ago

    There's no such thing as a 'good lease deal'. (I typed that before scrolling down and seeing 'coffee drinker's' post).

    I'm sure you think you talked them down, but I'm also sure you didn't actually do so.

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  • Anonymous
    2 months ago

    Sounds like a rip off.  If you are into leasing, you can lease a same size SUV for $350-$400 a month with the same down payment amount.

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  • 2 months ago

    There is no such thing as a good lease deal.

    You are going to pay nearly $600 per month, plus the down payment, plus expensive full coverage insurance with gap coverage so that you can operate a vehicle for (presumably) 3 years (you didn't mention the lease term) and at the end of it all you don't own the vehicle, you don't even have any equity in the vehicle, you have to give it back and you have nothing to show for it.

    If you are financially well-off that you can afford that simply for the benefit of having a fancy brand new car, then you should be financially smart enough to decide for yourself whether or not you are satisfied with the deal they are offering.

    • Mike2 months agoReport

      Sounds like you need a cup of coffee

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  • Anonymous
    2 months ago

    I don't believe in leasing vehicles

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  • P
    Lv 7
    2 months ago

    I'm not the biggest fan of leasing cars, but yes it does seem like a good deal for what it is.  I doubt you would get any better.

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  • Murzy
    Lv 7
    2 months ago

    I would pay more rather than putting down $4500. If you had an accident, a short while after getting the car, and your car was totaled, you would have to get another and your $4500 would be gone.

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