If you’re looking for a mid-size pickup truck, then the 2021 Ford Ranger is a great choice. And while it competes with heavy hitters like the Toyota Tacoma, Chevy Colorado, and Jeep Gladiator, the Ranger holds its own with a bevy of cab configurations and a potent turbocharged engine. Now is a great time to not only buy a Ranger, but according to Ari Janessian – an auto broker with Negotiation Guides – it’s actually a good time to have one custom built.

Ford’s special APR makes financing a Ranger an attractive deal

Although new car inventory shortages continue to plague dealerships, there’s still a good chance that you can get the Ford Ranger you have been wanting. Janessian notes that there are currently 2,985 Rangers models sitting at dealer lots nationwide and of those, the XLT trim level is the most prevalent. There are currently 887 four-wheel-drive XLT models on the ground and 271 rear-drive models available.

Since that trim level is the most popular, Janessian uses a Ranger XLT SuperCrew 4WD model for his sample financing breakdown:

2021 Ford Ranger XLT SuperCrew
MSRP: $41,210
Target price: $40,180
Rebate: $1,000
APR: 1.9% for 60 months
Final: $40,180
Payment: $728/month plus taxes

Starting with an MSRP of $41,210, Janessian says that you should aim for a 2.5% discount in your negotiations. “I know it seems kind of crazy that we’re really along talking about $1,000. But $1,000 from the dealer and $1,000 from Ford could land you at a decent 5%-type deal,” Janessian says in the video.

That extra $1,000 from Ford is for custom ordering the Ranger, which will result in a target selling price of $40,180. Fortunately, Ford is also offering a special interest rate of 1.9% for well-qualified buyers for up to 60 months. When calculating all of these numbers, your projected monthly finance payment for a Ranger would be $728 per month plus tax. That’s not bad, considering you’ll get the exact Ford Ranger that you want.

The Ranger’s high residual value makes leasing even more attractive

If you’re the type that would rather lease a new car as opposed to buying one, then you’ll be happy to know that leasing a Ford Ranger could yield good results. Ford isn’t offering any special rebates for leasing, however, the residual value for the Ranger is a super high 66%. If you’re wondering how that helps, here is Janessian’s lease example breakdown:

2021 Ford Ranger XLT SuperCrew
MSRP: $41,210
Target price: $40,180
Rebate: $0
Residual: 66% at 36 months
APR: 2.75%
Payment: $437/month plus taxes

The same parameters for leasing a Ranger apply as the MSRP and target selling prices are the same. However, while there are no current rebates from Ford for leasing a Ranger, the truck does have a high 66% residual value after 36 months. This means that after three years, Ford estimates that the Ranger will hold 66% of its original value.

After calculating the lease deal with a 2.75% APR (money factor), Janessian estimates that you should have a lease payment of around $437 a month with about $1,765 as a down payment.

It’s a great time to buy a Ford Ranger

Although buying or leasing a new car right now might seem futile, there is still hope if you have the patience to find a good deal. Janessian recommends using the aforementioned figures as a guide and a seek quotes from multiple dealers in your area to net the best deal.

Just remember that your discounts, taxes, and fees may vary depending on your location. If you would like to build your custom Ford Ranger, you can do so on the automaker’s website.