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Everything You Need To Know About Leasing A Truck (F-150 SuperCrew From $358/Month)

Program valid through April 4, 2016.

Have you priced a pickup truck lately? If not, then you're in for a surprise. Long gone are the days when a pickup was synonymous with cheap, no frills transportation. Today, even a run-of-the-mill Ford F-150 will sticker for luxury car money, or around $40,000.

These prices are not without reason: full-size pickups are more capable than ever. Perhaps more important, today's trucks come with the refinement, amenities, and safety features of passenger cars, making them adept beyond the farm or construction site.

Does it make sense to lease a pickup truck? Here's everything you need to know about leasing a Ford F-150, the best-selling vehicle in the United States.

If You Can, Go With The 2015

Although we're well into 2016, there are still a number of 2015 models on dealer lots. You can save a bundle going for last year's model. The lower interest rates and higher incentives more than offset its lower residuals relative to the 2016:

2016 F-150 (36 months, 10,500 mi/year)
Truck Residual* APR Bonus Cash**
F-150 SuperCrew 4x4 65% 6.50% $750
F-150 SuperCrew 4x2 63% 6.50% $750
F-150 SuperCab 4x4 63% 6.25% $750
F-150 SuperCab 4x2 59% 6.25% $750
2015 F-150 (36 months, 10,500 mi/year)
Truck Residual* APR Bonus Cash**
F-150 SuperCrew 4x4 61% 3.75% $1,700
F-150 SuperCrew 4x2 59% 3.75% $1,700
F-150 SuperCab 4x4 58% 3.00% $1,700
F-150 SuperCab 4x2 54% 3.00% $1,700

*Subtract 1% for 12,000 miles per year. Subtract 3% for 15,000 miles per year.

**Bonus cash shown is for XLT models. Incentives may vary by trim.

F-150 sees few changes for 2016. SYNC 3 replaces MyFordTouch. Additionally, Ford improved small overlap crash performance on 2016 SuperCab and Regular Cab models to match that of SuperCrew.

Selling Price

The cost of leasing a particular car is determined by its lease program, which is set by the manufacturer, and the selling price, which is set by the dealer. 

A 2015 Ford F-150 XLT SuperCrew 4x2 has an MSRP of $37,750. According to a third-party car shopping website, the average selling price of that model is $35,155 before incentives (Southern California zip code). The lowest selling price currently offered by a dealer on said car shopping site is $33,148 before incentives.

Putting It Together ($358/Month, $0 Down)

Use the lease calculator below to customize your own inputs. Here's a sample deal of the F-150 above assuming a selling price of $33,148, excellent credit, 10,500 miles per year, and California residency.

Select to auto-populate the acquisition fee, disposition fee, and MSD fields.
% off MSRP
e.g., cash-back offers, loyalty cash, bonus cash.
e.g., manufacturer-to-dealer cash rebate or if you live in a state where customer cash rebates are not taxed.
I want to pay my acquisition fee upfront.
%
( miles/yr)
Adjusting the miles changes the residual(%).
APR: %
Enroll in Mercedes-Benz Autopay to lower the MF by 0.00010
I want to pay my total lease payment upfront to lower the MF by 0.00073.
APR: %
%
Tax your state, county, and city levy.
Tax is levied on the monthly lease payment (most states).
Tax is levied on the sales price upfront (e.g. VA, TX, GA).
Tax is levied on the total lease payment upfront (e.g. NY, MN, OH).
First month's Payment incl. tax:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the Sales Price:
Acquisition Fee:
First Month's Payment:
Down payment:
Registration and doc fee:
Total MSD Payment:
Tax on the total lease payment:
Tax on cap cost reduction and fees:
Acquisition Fee:
The number of years it would take for the accumulated monthly payments to exceed the MSRP. Higher is better.
The total cost of leasing over the lease term, including applicable taxes and disposition fee but excluding registration/license fee and any refundable security payment.

So, Does It Make Sense To Lease An F-150?

Although we're generally fans of leasing for reasons outlined here, there are certain instances where leasing is less than favorable.

In this case, Ford is offering far more incentives on a cash purchase ($4,950) than on a lease ($1,700) of a 2015 F-150 XLT SuperCrew 4x2. Additionally, the rate of 3.75% APR is on high side; credit unions these days are offering 60-month auto loans at under 2% APR. 

For most of the cars we feature on this site, it's a no-brainer to lease. In the case of F-150, however, the reasons seem less compelling. 

Did you recently lease a pickup truck? Share your deal below.