Saw this posted at SVTOA site-- memo from Tom Scarpello. Clearly new Cobra is to be a 2007, not 2006, with "target date" of June, 2006. Residual is 58% after 30 months. Sounds kinda low?? What do folks think of all this?
To: All SVT Dealers
Subject: SVT PowerLease Program
2004 SVT PowerLease Program Announcement:
The SVT PowerLease is a special RCL program designed for customers who may be delaying the purchase of an SVT vehicle in anticipation of the next-generation SVT Mustang Cobra or SVT F-150 Lightning.
SVT PowerLease allows the customer to lease a 2004 SVT Mustang Cobra or SVT F-150 Lightning today at a special lease rate, AND receive an option to purchase/lease a next-generation SVT Vehicle, with prioritized scheduling privileges.
Background:
Production of the 2004 SVT Mustang Cobra ends April 2, 2004, and production of the 2004 F-150 Lightning ends May 8, 2004
In November 2003, SVT announced that:
There will be no 2005MY SVT products available
The rollout of the next-generation SVT products will begin with the SVT F-150 Lightning in the 2006MY, followed by the SVT Mustang Cobra
Due to the tremendous response to the new F-150 and Mustang, many customers have expressed interest in the SVT versions of these new products. SVT dealers have reported that some customers are choosing to wait for the next-generation versions rather than purchase a 2004 SVT product
How to Use SVT PowerLease:
Use SVT PowerLease with customers who express interest in the next-generation SVT Mustang Cobra or SVT F-150 Lightning
Explain to customers that:
The next-generation SVT F-150 Lightning is tentatively planned to enter
production in December 2005 as a 2006MY, and the next-generation SVT
Mustang Cobra is tentatively planned for June 2006 production as a 2007MY
PowerLease allows a customer to drive a 2004 SVT on a short-term lease, while they are waiting for the next-generation SVT
Those customers who PowerLease a 2004 SVT will receive an "option" to purchase one of the first, next-generation SVT Cobra or Lightning units with priority scheduling, ensuring they receive one of the first vehicles produced
The PowerLease term will be designed to coincide with the availability of thenext-generation SVT vehicle; e.g., the Lightning term is 24 months, and the Cobra term is 30 months
Use the following payment calculations to show the attractiveness of PowerLease pricing:
Program Details:
Program dates: April 1, 2004–June 30, 2004
PowerLease terms will be:
30-month for the 2004MY SVT Mustang Cobra
24-month for the 2004MY F-150 Lightning
Lease terms can be extended or shortened by three months at no charge to coincide with delivery of the next-generation unit
Special financing rates and residuals are included in the program
PowerLease customers receive an option on a next-generation SVT vehicle. The option is transferable
PowerLease option units will be incremental to SVT dealer allocation
SVT dealers are not obligated to sell a next-generation unit to an option holder. Likewise, option holders are not obligated to purchase the next-generation unit from the original leasing dealer
Model MSRP Dealer
Discount Sale
Price Cap Cost
Reduction ACQ
Fee Cap
Cost Lease
Term Residual RCL
Rate
Prog:
#6082 RCL
Payment
Cobra
Coupe $35,370 $1,061 $34,309 $2,500 $595 $32,404 30 Mo. 58% 4.5% $495.00
Cobra
Conv. $39,750 $1,193 $38,557 $2,500 $595 $38,562 30
Mo. 58% 4.5% $554.00
F-150
Lightning $33,560 $1,007 $32,553 $2,500 $595 $30,648 24
Mo. 61% 3.35% $495.00
Summary
The SVT PowerLease gives SVT dealers an effective tool to retain current SVT Customers and provides a bridge in to the next generation SVT.
We hope you find the SVT PowerLease program a useful and effective sales tool.
Sincerely,
Tom Scarpello
SVT Marketing & Sales Manager
To: All SVT Dealers
Subject: SVT PowerLease Program
2004 SVT PowerLease Program Announcement:
The SVT PowerLease is a special RCL program designed for customers who may be delaying the purchase of an SVT vehicle in anticipation of the next-generation SVT Mustang Cobra or SVT F-150 Lightning.
SVT PowerLease allows the customer to lease a 2004 SVT Mustang Cobra or SVT F-150 Lightning today at a special lease rate, AND receive an option to purchase/lease a next-generation SVT Vehicle, with prioritized scheduling privileges.
Background:
Production of the 2004 SVT Mustang Cobra ends April 2, 2004, and production of the 2004 F-150 Lightning ends May 8, 2004
In November 2003, SVT announced that:
There will be no 2005MY SVT products available
The rollout of the next-generation SVT products will begin with the SVT F-150 Lightning in the 2006MY, followed by the SVT Mustang Cobra
Due to the tremendous response to the new F-150 and Mustang, many customers have expressed interest in the SVT versions of these new products. SVT dealers have reported that some customers are choosing to wait for the next-generation versions rather than purchase a 2004 SVT product
How to Use SVT PowerLease:
Use SVT PowerLease with customers who express interest in the next-generation SVT Mustang Cobra or SVT F-150 Lightning
Explain to customers that:
The next-generation SVT F-150 Lightning is tentatively planned to enter
production in December 2005 as a 2006MY, and the next-generation SVT
Mustang Cobra is tentatively planned for June 2006 production as a 2007MY
PowerLease allows a customer to drive a 2004 SVT on a short-term lease, while they are waiting for the next-generation SVT
Those customers who PowerLease a 2004 SVT will receive an "option" to purchase one of the first, next-generation SVT Cobra or Lightning units with priority scheduling, ensuring they receive one of the first vehicles produced
The PowerLease term will be designed to coincide with the availability of thenext-generation SVT vehicle; e.g., the Lightning term is 24 months, and the Cobra term is 30 months
Use the following payment calculations to show the attractiveness of PowerLease pricing:
Program Details:
Program dates: April 1, 2004–June 30, 2004
PowerLease terms will be:
30-month for the 2004MY SVT Mustang Cobra
24-month for the 2004MY F-150 Lightning
Lease terms can be extended or shortened by three months at no charge to coincide with delivery of the next-generation unit
Special financing rates and residuals are included in the program
PowerLease customers receive an option on a next-generation SVT vehicle. The option is transferable
PowerLease option units will be incremental to SVT dealer allocation
SVT dealers are not obligated to sell a next-generation unit to an option holder. Likewise, option holders are not obligated to purchase the next-generation unit from the original leasing dealer
Model MSRP Dealer
Discount Sale
Price Cap Cost
Reduction ACQ
Fee Cap
Cost Lease
Term Residual RCL
Rate
Prog:
#6082 RCL
Payment
Cobra
Coupe $35,370 $1,061 $34,309 $2,500 $595 $32,404 30 Mo. 58% 4.5% $495.00
Cobra
Conv. $39,750 $1,193 $38,557 $2,500 $595 $38,562 30
Mo. 58% 4.5% $554.00
F-150
Lightning $33,560 $1,007 $32,553 $2,500 $595 $30,648 24
Mo. 61% 3.35% $495.00
Summary
The SVT PowerLease gives SVT dealers an effective tool to retain current SVT Customers and provides a bridge in to the next generation SVT.
We hope you find the SVT PowerLease program a useful and effective sales tool.
Sincerely,
Tom Scarpello
SVT Marketing & Sales Manager
