Orderd a new vehicle this week

[slag]

Company car, we have to add money to get what we wanted though because they give you a base of like 15k and then if you want more, you pay for it yourself.

2013 Ford Explorer Sport, looks just like this. Options we got are power liftgate, tow package, all season floor mats. Ordered it Monday and are told it is 8-14 weeks out.

6 speed automatic
365 hp

 

[satyajitmenon]

I like the looks of the new explorer... Are the underpinnings also new (compared to the previous Gen)?

OP: What kind of numbers did it work out to OTD?

 

[slag]

I like the looks of the new explorer... Are the underpinnings also new (compared to the previous Gen)?

OP: What kind of numbers did it work out to OTD?

I'll get back with you on those numbers. I don't remember offhand and the sheet is at home.

 

[ThatsABigOne]

Nice car. I like the looks of current gen Explorer.

 

[Jimzz]

I like the looks of the new explorer... Are the underpinnings also new (compared to the previous Gen)?

OP: What kind of numbers did it work out to OTD?

Yep fully new. The new one is unibody the old was body on frame.

They got rid of the sporttrac due to the new frame.

 

[slag]

I'll get back with you on those numbers. I don't remember offhand and the sheet is at home.

$39510 and change.

 

[twinrider1]

Just curious. What happens if you leave the company in a year? Do they want all/portion of that $15k back?

 

[slag]

You give the car back and they trade it off or something. This is the 3rd company car we've gotten because we've worked there a long time. They pay for the first 15k, and then deduct the balance from your paycheck for 4 years. Then, after its all said and done, they give you the option to purchase the car at a greatly reduced price, much less than trade in value.

 

[Jimzz]

You give the car back and they trade it off or something. This is the 3rd company car we've gotten because we've worked there a long time. They pay for the first 15k, and then deduct the balance from your paycheck for 4 years. Then, after its all said and done, they give you the option to purchase the car at a greatly reduced price, much less than trade in value.

Wait what? So you pay $25k but don't get to keep the car? And if you want it you have to pay even more? Maybe even more than 15k they "helped" with? Is that right?

 

[slag]

Wait what? So you pay $25k but don't get to keep the car? And if you want it you have to pay even more? Maybe even more than 15k they "helped" with? Is that right?

It all really works out in the end but difficult to explain. Think of it this way. They give us 15k for a vehicle which would be a base fusion (just an example). We pay nothing out of the check, and drive the fusion for 4 years or 100k miles, whatever is first. Then, at the end of that time period, we are offered first option to buy the car. Lets say the car is worth 5k at that point. They come back to us and offer it to us for 2k. They pay for all maintenance, tires, oil, anything that breaks down on it, insurance, etc the entire time and even for gas as long as it is used for work. We put our own gas in when we use it for family trips and long excursions.

Instead, they give us 15k and we opt to get a higher end vehicle that we pay the difference out of, but are again offered to buy it at the end of the 4 years/100k period and still get a heck of a discount out of it.

 

[Spicedaddy]

Instead, they give us 15k and we opt to get a higher end vehicle that we pay the difference out of, but are again offered to buy it at the end of the 4 years/100k period and still get a heck of a discount out of it.

So the vehicle is 40K. They pay 15K, you pay 25K, but it belongs to them and you have to buy it back after 4 years?

I hope they sell it to you for less than 15K...

 

[Jimzz]

So the vehicle is 40K. They pay 15K, you pay 25K, but it belongs to them and you have to buy it back after 4 years?

I hope they sell it to you for less than 15K...

This.
Plus if you leave early you lose the amount YOU put in.

Not really seeing the winning side of this.

 

[LTC8K6]

5.9 seconds to 60. Not too shabby. You can surprise a lot of folks at the stoplight drags.

But it swills gasoline at a rapid rate.

http://www.caranddriver.com/reviews/2013-ford-explorer-sport-test-review

 

[summit]

so basically they front load 15k into a 4 year lease?

 

[seepy83]

so basically they front load 15k into a 4 year lease?

Not even really a "lease". I'm assuming if he lost the job, he would lose the car. So, basically he's paying to rent a car from his employer.

Doesn't sound too appealing to me.

The Explorer Sport is a nice vehicle, though. Good luck with it, OP.

 

[slag]

This.
Plus if you leave early you lose the amount YOU put in.

Not really seeing the winning side of this.

Thats why you plan a little ahead of time and if you are going to leave early, don't spend the extra on a car. Not a brain buster here.

 

[slag]

Not even really a "lease". I'm assuming if he lost the job, he would lose the car. So, basically he's paying to rent a car from his employer.

Doesn't sound too appealing to me.

The Explorer Sport is a nice vehicle, though. Good luck with it, OP.

Most people do pay money when leasing a car.. :whiste:. Also, if you leave your job, you are given the option to buy out the remaining value on the car and they work with you.

In this case, since it is our 2nd vehicle, we wanted something that we can use to tow a boat and go camping with, etc, but we wanted something more than a basic xlt so we are going with the Sport.

We could get the basic 15k model focus and drive it and not pay a dime, but its nice we are given the option for this and we get to use it for personal use as well. And, payments aren't astronomical either because of the way its structured.

We are buying the old company car, a late 2000 model explorer, that I will drive and are paying around 3k for it. I'm being general with numbers, but you get the gist.

 

[slag]

5.9 seconds to 60. Not too shabby. You can surprise a lot of folks at the stoplight drags.

But it swills gasoline at a rapid rate.

http://www.caranddriver.com/reviews/2013-ford-explorer-sport-test-review

Its good on the high way, but yeah, any car you put your foot into will suck gas horribly. And I do take this statement with a grain of salt "Out in the real world, the Explorer Sport suffers from the same elephantiasis as do regular Explorers, and it feels enormous from behind the wheel. "

I've driven several explorers, probably close to 5 as personal vehicles at one time or another, and none of them have felt enormous. They feel smaller than a truck, but definitely feel like the SUV they are. I think the author is a bit confused about what vehicle he was driving, maybe thinking he was in a prius?

 

[SolMiester]

WOW, that all sounds like the worst company car deal I have ever heard....what happened to them giving you a list of car options, you make your pick and dont pay for anything...
To me it sounds like they get you to prop up their company car fleet so your clients get to say wow, your company is generous with their cars for staff...
Most new cars dont have any maintenance for the first 5 years anyway.

 

[seepy83]

Most people do pay money when leasing a car.. :whiste:.

No kidding.

Most people's leases also aren't dependent on maintaining a job with the same employer.

Why should the vehicle be an asset that the company owns when they have paid for only 38% of it (roughly speaking, they've paid 15k on a 40k vehicle)?

It just doesn't make sense to me. I would be asking them to cut me a check for $15k every 4 years that I could put towards a vehicle that I own.

 

[hans007]

Make sense. The company pays for 15k of any car up front . And he can buy their share after 4 years . So basically they pay the depreciation on 15k of car that he needs anyway and all maintenance. Sounds like a good thing or am I totally daft?

 

[Ferzerp]

Make sense. The company pays for 15k of any car up front . And he can buy their share after 4 years . So basically they pay the depreciation on 15k of car that he needs anyway and all maintenance. Sounds like a good thing or am I totally daft?

That would be the logical thing, but it either isn't true, or the OP is just horrible an explanations. I'm trying to assume the latter and the company just has a 3/8 share in his $40k car and finances it for him.

 

[slag]

No kidding.

Most people's leases also aren't dependent on maintaining a job with the same employer.

Why should the vehicle be an asset that the company owns when they have paid for only 38% of it (roughly speaking, they've paid 15k on a 40k vehicle)?

It just doesn't make sense to me. I would be asking them to cut me a check for $15k every 4 years that I could put towards a vehicle that I own.

Really? A lease for a company car that the company is paying for isn't dependent on working for them? What magical world do you live in? LOL..

anything above and beyond what they give you for a car is up to us. We don't have to do it, we chose to do it. You don't seem to understand that. The benefit to us is that when the lease is up, we have the option to purchase it at a greatly reduced cost, much lower than wholesale, trade in, etc.

 

[slag]

That would be the logical thing, but it either isn't true, or the OP is just horrible an explanations. I'm trying to assume the latter and the company just has a 3/8 share in his $40k car and finances it for him.

Pretty sure thats exactly how I've explained it. Can't wait for the vehicle.

 

[mvbighead]

You give the car back and they trade it off or something. This is the 3rd company car we've gotten because we've worked there a long time. They pay for the first 15k, and then deduct the balance from your paycheck for 4 years. Then, after its all said and done, they give you the option to purchase the car at a greatly reduced price, much less than trade in value.

I think you mean difference, not balance.

IE - If you go for the 15k Fusion, no remaining money is taken from your check.

Basically, your company gives you $3750 yearly to put against a car every four years. If it is solid stable employment, it sounds like a great deal to me. Probably gives their workers incentive to stick around that four years if they did go bigger and better.

Do you pick where you buy from? Or are you just given one dealer to work with, and no-haggle pricing?