Just an FYI. Anyone wondering if a lease is possible with a recent BK7, well, it is. Of coarse Marv and Hoapres already told me approval was likely, but here's the confirmation. I'm not sure what model car I'm getting. I am considering a couple different models.
Anyhoo, I got approved for the lease and it covers the $3k negative equity on my current ride. They are offering a good price for my Explorer with 99,000 miles on it and I think I'm gonna take it. I'll no longer be "underneath" anything if I lease so why not?

I'll post a pic when I decide what to get. Oh, yeah, it only cost me one hard. And that was on TU!

Congrats Tools. I'll be waiting to see a pic of your new ride.

congrrrrrrrrrrrats

wow! congrats. I always thought leases were harder to secure than loans.

McTool,
I would be interested in what rate they gave you as well as which CA Ford pulled.
Congrats! Isn't it a good feeling?

not with FMCC

actually Marv I used to do these Red Carpet Leases with FMCC years ago. they were money makers on used vehicles and that was before full disclosure. I wouldnt be surprised if FMCC is doing it again.

Thanks guys.
What's "full disclosure"? It doesn't sound like I should be without it... or with it, or something.

Thanks
Tools

where you know the exact costs of the lease such as cap cost (aka sale price) when it was non disclosure we used to make about 4k a copy of used rental returns. about a 1000 commission to a liner and 500 to the closer. and thats not even counting the factory spins we got for selling the RCL on used. that could make anything from 75 to 500 more on the deal.

Thanks again. When you sign that dotted line, is there any chance the price could go up post signature?

Tools

Leasing disclosures is governed by Fed Reg M.

If not approved as contracted then there is a possibility that you might need to resign.

if you are approved no. if not then maybe.. generally on these kind of deals you are approved before you leave the lot.

unless the F&I guy makes a boo boo on the contract.

I always tell them to stress to the consumer you may have to sign this 3-4 times till we get it right, but your payment will NEVER CHANGE BY even one cent.

Then I usually got to clean up the mess. BTW I just finished one from July 30, 2006 cause it was such a messed up lease contract. Finally got funded this past thursday.

Thanks for the replies and the congrats.

Tools

I work at a ford dealership and am told that a 580+ can get you a lease or rco.