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Ford Edge Prices Paid and Buying Experience

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Comments

  • m6userm6user Posts: 2,950
    Gee, the actual price is the street price. Really? I was just advising what the sticker price difference is. Obviously both vehicles will be discounted off from sticker but it depends on area, competition and negotiating skill.

    The base RX is $38850. You should be able to get that discounted as well but, I agree, maybe not as much. Ford already has a rebate on the 2011 I see so the spread may be more like $5k. Still within reason if that is the vehicle someone wants. Edmunds puts the difference in TMV prices at about $4300 which is close to what I said. Of, course I've found that you can beat TMV in most areas just like you mentioned with Edge price. The RX can be had for less than TMV too.

    People can come on these forums and say anything about what they can get a vehicle for so I leave that up to to OP to do their homework. I was just trying to throw some pros and cons up there to help.

    I still think if someone is looking for one of the premium crossovers the Lincoln MKX deserves serious consideration.
  • Can anyone tell me the MF for a 2011 Edge Sport, 3 year 15k miles per year? I live in los angeles, CA
    Also, how strict are they with proof of student status or employee PIN number?
    I really enjoy reading the posts in this forum and have finally decided it's time to take the plunge and lease one of these great American cars.
  • Can anyone tell me if Ford Motor Credit is any better or worse at financing someone with not so good credit? I had good credit until I got laid off for 18 mos. I started working again thankfully 3 months ago full time making a very good salary. I really need a different car. (my 10 year old convertible has run its course.)

    Thanks.
  • I am shopping around for a ford edge limited. I live in NY and was wondering what others have paid. Any recent numbers? I am trading in my 2007 edge.
  • I am looking at a fully loaded EDGE Limited with a MSRP of $40,890. I have a Nissan Armada LE 2 wheel drive loaded with everything and 67,800 miles. I also have 15 months left on my lease and am over on my mileage by 8,800 miles with excess mileage at $0.18.

    Bankston Ford in Frisco, TX is saying my Armada is worth only $19,500 and my payoff is $28,516, putting my deep in the hole.

    Their initial offer is the EDGE at $1,616.61 off of MSRP plus FORD incentives of $2,750.00.
    Their initial offer has me financing $48,726, which is quite a bit over MSRP, and the dealer claims that this will make a 72 month APR higher, like 7% or even 7.99%.

    The Edmonds Used Car report says my Nissan is worth $21,691.00, which is higher then the dealer is offering.

    I am trying to get my 72 month payment to under $700.00 per month, including my negative equity on my trade in.

    Any suggestions of help from Car_Man or anyone???

    Thank you!
  • robr2robr2 BostonPosts: 7,734
    I say you ride the lease out to the end and put away a few bucks every month to cover the mileage. IMHO, rolling negative equity into a new car loan is a terrible idea and I have a feeling you're going to be looking to do the same thing again in 3 years.

    Good Luck.
  • fushigifushigi Posts: 1,232
    In all seriousness, since you're so upside-down on the Armada, maybe a larger look at your options & true needs is in order. How often do you need the capacity of the Armada/Edge? How many miles/year are you driving? Since the Armada isn't AWD I'll assume no offroading capability is needed. Do you tow?

    If you commute and don't constantly haul heavy cargo, my best suggestion would be to park the Armada and use it only when you need it's hauling capacity. Ride out the lease & start setting aside a few bucks a month to cover the mile overage charge. Buy a used compact or midsize sedan for use as a daily driver. The sedan should be far cheaper to drive (better mileage, cheaper maintenance overall, probably cheaper to insure).

    That may not be advice you want to hear (read), but I'm giving my honest and frank opinion. The Armada's status put you in a bad place financially and the best way out is to minimize costs until you can correct it. Unless you need to get rid of an unreliable or crash victim car, rolling one car's payoff into the next car's loan is just avoiding dealing with reality.
  • m6userm6user Posts: 2,950
    Buy a used compact or midsize sedan for use as a daily driver. The sedan should be far cheaper to drive (better mileage, cheaper maintenance overall, probably cheaper to insure).

    That's a crazy idea. If he doesn't have the few thousand to raise his head above water for the trade how would he have the few thou needed to purchase a second car. The sales tax, doc fees, title fees, maint on a used car, insurance and initial cost of a second vehicle would be way more than some excess mileage charges.

    Just ride out your lease and save some money for the extra mileage charge and then go into another lease on something a little more suitable for your lifestyle. A fwd Edge that gets 27mpg hwy and has close to the carrying capacity of the Armada is not that bad of choice. I assume you know what you're doing and need that carrying capacity. If not, all bets are off.
  • Thanks everyone for the advice.
    I can afford an EDGE, and it is what I want to get. I also have a 5 year old, so carrying her in something smaller and less safe is not an option for me. I also am in Sales, and take clients with me frequently to lunch and whatnot, and need something nice and roomy.

    I know buying a new car and suffering the depreciation is a bad thing, but I am finally going to stop leasing sue to my mileage, and go into a loan where I can not worry about miles (even though I know we all pay for miles one way or the other)

    I am simply trying to get the best deal I can. I have submitted an offer to them and we will see what they say, and got a lot of the info from Edmonds. What a great site this is!
  • fushigifushigi Posts: 1,232
    The OP's info was incomplete so I'm making a few assumptions. Feel free to correct wherever I have something wrong. From the few facts we have (leased and had over 67K miles), I'm going to assume it's a 2008 Armada RWD and it's driven about 24K miles/year. MPG according to Edmunds is 14 MPG combined. With gas around $3/gallon that's $429/month in fuel.

    If the OP continues at 24K miles/year for the remaining 15 months that comes to 30K more miles at 18 cents/mile or another $5400 in mileage surcharges. That's $360/month.

    Driving the Armada will cost $789/month + the lease payment + all the other required maintenance.

    Hyundai has a good offering in the 2011 Sonata. It's a "nice and roomy" large 4 door sedan with a 5-star safety rating. Take a brand new 2011 Sonata SE. With 0 down and @ 4%/72 months, the payment is $354. Call it $400 once you add for taxes and whatnot.The combined EPA rating on the Sonata is 26 MPG so monthly fuel costs would be $231. The Sonata is at a base of $631/month to own & operate.

    To keep things simple, assume maintenance costs are the same. A sedan (with new tires and full warranty) will be cheaper to maintain than a V8 powered SUV but let's forgive that for the moment. The question is, then, are other expenses like insurance, going to top the $151/month difference in cost. For me they would not as my car is running just over $70/month to insure.

    So sure, we can say forget buying a used sedan. Buy a NEW one and it's still cheaper.
  • fushigifushigi Posts: 1,232
    Suffering depreciation isn't necessarily a bad thing. If you can keep a car long enough the effects of depreciation are minimized. The big problem here is in rolling the amount you're upside down on with the Armada into the Edge's purchase.

    And again, to be blunt, you should step back and gauge wants v. needs. Most sedans are just as safe if not safer than SUVs. Plenty of sedans are also quite roomy for up to five people. Since you're looking at the Edge I'm assuming you don't need 3rd row seats/capacity for 6-8.

    You're considering a loaded Edge with a $41K sticker. There are Edges starting just over $27K (the price of a fully loaded Sonata 2.0T, incidentally). How much of that $14K in trim and options are wants v. needs? Get the needs but given the nature of the upside down Armada you should minimize the wants. Dropping $7K in options would reduce your new monthly by around $100, which would go a long way towards getting you out of the hole.

    Whatever you wind up buying, try to make it last for at least 1-2 years beyond when it's paid off. But when you do pay it off, continue making the payments to an investment account. That way, when the time comes to buy the next car you'll have a good size down payment you can use. The money can double as a fund to tap to pay for repairs if needed.
  • m6userm6user Posts: 2,950
    edited December 2010
    If she's in a lease and only 8+K miles over her allotment at 67k she must have something like 20k a year to play with. So the MPG savings probably aren't as great and the overcharge probably isn't as bad as you assume.

    You assumed she just wanted to save money any way she could. I assumed she knew what she wanted and that was to replace her big honking SUV with a little bit smaller CUV which turns out to be exactly what she wanted. I wasn't trying to convince her to have two vehicles, one of which she clearly doesn't want just because it can save a few bucks. Maybe she only has one parking place, maybe she just doesn't want to worry about two cars. Too many unknowns to be recommending additional vehilces IMO.

    But I will admit that what you suggested wasn't crazy from a dollars and cents point of view if the person wants two vehicles one of which is a midsize car or something like that.
  • steevosteevo Posts: 330
    edited December 2010
    IF you are still following along here. Why don't you BUY YOUR ARMADA. This will immediately stop the bleeding of the extra miles. Your buyout now is 28,500 so buy it from Nissan. Or make some more payments for now but Buy it before lease is over to avoid the mileage. Pay the loan down faster if you can.
    Eventually you can sell the car and then you can over pay for that Edge and dig yourself back into another huge hole.
  • My current lease is almost up and I can't seem to find a deal close to what I have now. Currently I drive a SEL Plus edge with roof. Im paying 339 a month. The closest I can get is 2800 down and 385 a month for a SEL EDGE 10,500 yr.
    I really want a Limited with 20 inch wheels and Pan roof. Does anyone have any idea what I should be paying? Or how much I should get in total rebates? Please help.
    Andrea
  • ctg1ctg1 Posts: 3
    Can anyone help me with my negotiated lease for a loaded edge sport (sunroof, vison, conv. package, cargo, etc) ? am i missing anything to save more on the below lease? dealer holdbacks or ford credits etc.? Thanks

    MSRP: $43,4,00
    Negotiated Price : $40,900
    Roll in amount: $5,000 (old lease)

    Total Lease Amount: $45,900
    Buy Down: $4,500
    Term: 39 months / 19,500 miles
    Lease Factor: 1.75%
    Residual value: 50%
  • I am looking to lease a new Edge Limited with package A109 in it . I have no current car loans and have paid off a 2004 Toyota Sienna ( going to my hubby ) and a 2006 toyota corolla ( will be my daughters ) . My sister just got an Edge fully loaded Limited for 399 a month . I was wondering if this was a great deal . I want to walk in the dealership and get the same deal if not a better deal ! We were looking at the Volvo and didnt like the feel of the drive and then went to Lexus because we like our toyotas but for what they offer the Ford was just as nice . Any Advice ! :confuse:
  • Kirstie_HKirstie_H Posts: 10,810
    $399/month... for how long? At what interest rate?

    A monthly payment doesn't really help determine what a good price is, and you really shouldn't be tricked into shopping for a car based on a "monthly payment" price. This is one of the main ways that consumers end up paying too much for a vehicle.

    You need to determine the best PRICE for the vehicle. After that, you need to work on the financing separate from the purchase price. Make sure you know what the loan term is (# of months) and the interest rate. If the loan term is long and/or the interest rate is too high, it doesn't matter what the monthly payment is - it's too much.

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  • nygenenygene Posts: 11
    Kirstie and monstruck 1-

    We're looking for the Ford Edge- got an offer from-- its Edge SEL, but loaded with extras, including the 202 A package, Voice Sycn, Navigation, Moonroof...it barely seems different the the Limited actually its so loaded...offer is $459/month, $2000 down, 36 mo lease , 15 k miles per year....so your $399 could possibly be better pending how much you had to put down and how many miles in that ???? please let me know ASAP!!! thanks!!
  • davenhvdavenhv Posts: 1
    I just put a $500 deposit on an order for a Ford Edge Limited FWD, package 301A, vision package, all weather mats, and back lit door. The quoted price is 37234.10. Right now the incentives are locked in at $2500 but $1000 of it applies only if Ford credit it used. Could I finance with Ford to receive the addtional incentive and just refinance with my bank that is offering 2.82% / 60 mnths? Any comments/suggestions are much appreciated. Thanks
  • robr2robr2 BostonPosts: 7,734
    Could I finance with Ford to receive the addtional incentive and just refinance with my bank that is offering 2.82% / 60 mnths? Any comments/suggestions are much appreciated. Thanks

    You might not be able to since I'm sure that 2.82% is for "new" purchases. You'd be refinancing which many times doesn't qualify for those low rates. Check with your bank to be sure.
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