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Ford Edge Lease Questions

kyfdxkyfdx Posts: 27,905
Ask your Ford Edge lease questions here!

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  • Hello! Does anyone know what residual & money factors are for the Edge? I had read a few places it would be 59%, but my dealer is saying 52%. Also, he lists the "lease factor" at 1.5 - is that the same as a .00063 money factor?

    Thanks!
  • colecole Posts: 67
    My Ford dealer is quoting 52% residual for a 39-month lease at 15,000 miles/year. They quoted an interest rate of 3.5% (MF of .00145. This was last month, though, so the MF may have changed on 1/2.
  • In the New York area the lease quotes are crazy.I have been to 2 dealers and have been quoted 530-580 a month with $2000 down.I have excellent credit.I have been loyal to Ford and have a 04 Explorer but I could drive a Lexus with those #s.
  • It was my understanding that conventional leases are not legally available in New York State (hence the residency restrictions apply disclaimers on most lease ads).
    Have you tried a retail balloon loan? With a retail balloon, there is no security deposit, first month payment or acquisition fee required at signing. I just got a voicemail from a dealer in Mahwah, NJ informing me of special lease deals on the Edge that go thru April of 2007. I'll post what info he provides me with.
  • Leases are back in New York.We had been the only state where you could sue the manufacterer in case of an accident.Congress attached a change at the end of some bill and Bush signed it much to the trial lawyers chagrin.Mahwah is not to far.I have traveled to P.A.(Reedman) before and have gotten better prices then N.Y.
  • akirbyakirby Posts: 7,668
    It wasn't accidents as much as parking tickets and moving violations. The cities were suing Ford if the leasees didn't pay their fines.

    There was no real difference in the RCO vs. RCL dollars anyway.

    When did the new law go into effect?
  • (in CA) I just went in and started paperwork on one Friday, the residual had changed from 52% to 51%. I'm getting $1000 competative lease cash because I currantly lease a Toyota. And I found out that the $500 student/graduate cash isn't available with the X-plan. My payments for the 39 mo lease will be just over $400 after tax.

    But.. my Edge should be in from LA tomorrow, so I'm excited nonetheless :)
  • Just picked up my edge. 2000 grand down a-plan red carpet lease 290.00 a month, a-plan price 26233. Have 300 miles on it averaging 19.7 mpg. New 3.5 liter and tran is smooth with plenty of power.
  • Hello jdivers. This vehicle's lease program varies depending upon how long you lease it for and what mileage allowance you need. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. If you were to lease a 2007 Ford Edge through Ford Credit right now for 36 months with 15,000 miles per year, its base lease rate and residual value should be 0.75% and 51%, respectively. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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  • I am going to be getting an SEL Plus tomorrow. I spoke with two dealers and was offered 15000 miles, 0.75% for 36months or 1.00% for 39 months. And a residual of 53% at 36 months, and 51% at 39 months.

    Agreed on a deal of $500 over invoice price. They want to add in something called Certified Gold to fix door dings (can't find this online) and the price is $540/month.

    Called back today to get the final figures (so I can check it out) and the finance guy would not give me any info until I drove 250 miles there to sit with them. I kept pushing them to give me info. Their lease deal now says 2%interest rate with a residual of 49%.

    I got mad with the guy and said to quit the bait and switch business.

    Does anyone have a URL to a page with the Ford 0.75 lease deal on it to show these guys? And the residual page too?

    Thanks
  • Hi jschaff. The lease rates that you were quoted for the Edge look good to me. Moreover, $500 over invoice is a good price for one. Just make sure to pass on the door ding repair policy. It is probably overpriced for what it is. I always advise consumers to pass on stuff like this, paint protection, etc... Unfortunately, I am not aware of any web site that provides consumers with information on manufacturers' current lease programs.

    Car_man
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  • I was kinda rushed into this after totaling my other car so I was just wondering if this sounds reasonable.

    SEL Plus, AWD, Vista Roof, Sirius Radio, All-Weather Mats, Reverse Sensing.

    MSRP= 33,285 price= 32,500 resid= 17,974

    36 mos./10.5 k. Lease Rate=0.75 $478/mo $0 down ($546 for fees & stuff) 1520 in taxes put into payments.

    Please tell me I didn't get boned too bad. BTW, I'm in Long Island, NY.
  • After much shopping and internet work I found 2 dealers in Jersey who were actually reasonable.New York dealers are IMPOSSIBLE.In Staten Island we have 1 dealer and they feel that they can charge what they want because people dont want to leave the Island.I ordered a pretty well loaded FWD for 410 a month,no money down plus tax.I wanted the awd but took the saved money and got chrome rims and best stereo figuring I could enjoy them on a more regular basis.
  • Just to clarify, the 478/mo is including the taxes.
  • Hi fpdafish. I'm sorry to hear that you totaled your previous vehicle. At least it sounds as though you weren't badly injured. That's the more important thing. Let's take a look at the deal that you got. The lease rate that was used to calculate your vehicle's payment looks right and it is very attractive. As far as the selling price goes, a base 2007 Ford Edge SEL Plus AWD has a spread of over $1,800 between its full MSRP and its dealer invoice price. You were given a $785 discount on the Edge that you leased. If you had time and were able to comparison shop a little bit, you may have been able to beat this price by $500 or so. Overall though this isn't a bad deal.

    Car_man
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  • I am new to leasing. I did my homework and realized that for me the best way to go is a lease verses buying. I am interested in the 07 Ford Edge. I can afford the car payment and insurance, all is well there. The problem is i dont have a lot of credit. Most of the credit i do have is not good. I have heard that it is harder to get a lease then a loan. My question is what are the odds of a person such as myself actually getting a lease on my own? Also, I know that you can shop leasing company to find the lease that works best for you. Once you have found it. How dose the buying process work as far as the dealership is concerned?
  • laurenf1laurenf1 Posts: 1
    Can you possibly email me the figure you got? I was quoted $415 with $1700 down on the Edge SEL PLUS AWD. I am trying to get the payment down to $390-$400/monthly. How do I obtain the $1000 competitive lease cash?

    Any numbers you can provide would be helpful.

    Thanks!
  • My wife and I looked at an Edge. We liked it, but ultimately went with a 2007 BMW X3.

    Do you guys realize that you can lease a 40k BMW X3 for 36 months for $460/mo. (tax included) with no cap cost reduction? The low residual value makes the Edge lease unattractive IMO.
  • colecole Posts: 67
    We also compared the Edge to the X3, but felt that the rear legroom is the X3 was not competitive. Additionally, getting the Edge at A-plan pricing made the X3 lease deals less of an advantage.

    Hope you enjoy the X3!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Julie. It definitely is not very difficult to lease a new vehicle through Ford Credit. It usually seems to be fairly lenient in who it approves to lease vehicles. If your credit is in rough shape, you may not qualify for its best rates though. As far as shopping around for a good lease goes, I personally doubt that you are going to be able to find an independent bank that has a more attractive lease program on the Edge than Ford Credit does right now.

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  • chuck68516chuck68516 Posts: 195
    Most companies will give you an APR of say 7%. These are easy to convert to money factor by simply dividing by 2400. However it seems you can't do this with Ford's "money rate" which is .50 or .75. How do you determine money factor on the Ford Lease? I was quoted $364 per month on a 36 month 10,500 mile/year lease with ZERO due at signing, (not even first payment,) on a 2007 Ford Edge AWD SE at invoice pricing and $1250 rebates. He said the money rate was .50 on the 36 month and .75 on the 39 month. Please help...
  • crispyjcrispyj Posts: 8
    I believe Ford doesn't use money factors to calculate, but instead the actual percentages.

    .5% to .75% interest rate.
  • chuck68516chuck68516 Posts: 195
    How could they offer 0.5% when other car companies leases are 5% or more? Impossible.
  • crispyjcrispyj Posts: 8
    FYI -- from CAR_MAN:

    "You can convert lease rates into approximate money factor equivalents by dividing them by 2400.

    Car_man
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    Which would give this car a money factor ranging from .000208 to .0003125
  • kyfdxkyfdx Posts: 27,905
    I don't know the specifics on the Edge lease, but it all depends on where they want to put the incentives..

    $3000 rebate or 0% financing or .5% equivalent money factor, or even a higher than market rate residual..

    So.. the lease rate could be that low..

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    Prices Paid, Lease Questions, SUVs

  • crispyjcrispyj Posts: 8
    CarMan - do you know the current lease percentage/residual rate for a Ford Edge SEL Plus - 3yr/12k.

    has anyone had experience getting these for below-invoice?
  • .5% 36 mo lev 0-1, .75% 36 mo. lev 2, 50% res at 15k / yr on the SE. Interest is higher on the SEL / SEL+. $750 rebate. It's all good.
  • dealers are more willing to bargain on the ones that do not have the vista roof. Most dealerships will honor all of the "plans" on the SE / SEL. Not much sense for them to honor "xplan", or a price anywhere close to that on an SEL+ w/ vista roof since the market currently brings way more than that and supply is low. They shouldnt have a problem offering one up on one of the plans or at a good discount it if you were to order it, though. On the Edge, an ordered unit would not involve an opportunity lost cost like an in stock one would.
  • ejonseyejonsey Posts: 2
    I am about to lease an Edge and want to know if I am getting a good deal. I couldn't find a SEL Plus with what I wanted so I found a SEL with the premium package. My MSRP is $32,385 with the vista roof. I have $1000 coupon for leasing a previous car and there is a $1250 rebate. The sales person said he would sell me the car for $28,157 with a payment of $370 (including tax), 36 month lease, 15K miles with $2,000 drive off. Is it a good deal.

    My previous car was a Mercedes C class and had the same payment but the car was $3,000 more, so I just want to make sure the payment is good for the Edge.
  • vkeanevkeane Posts: 5
    Hey all, my wife and I are about to lease an Edge and here's the deal they gave us. Is it any good? We researched Edmund's and Lease Kit so we have a vague understanding...the MSRP is 34,230, he knocked it down to 32,810. It's for an SEL/black/leather/premium pkg/17" chrome rims//vista roof/audiophile/parking sensors/seat settings and I think that's it..
    The money factor is .5 and he said the residual was 17,500. it's a 36 month lease. the down payment is 2,300 the taxes (which we were told to pay upfront) are about 1,300 and our payment will be 350.00. they are offering a 500.00 return to us as a deal by the dealer...please help! I hate math!!! :-)
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