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Ford Edge Lease Questions

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  • Can anyone tell me who qualifies and what is required for the following Ford Rebates codes?

    32522 Ford Credit Owner Loyalty
    32530 AAA eCoupon (Might be self explanatory but where do you get the eCoupon from?)
    32518 Earlybird
    32494 Partner Recognition Plus Prvate Offer (I am eligible for X-Plan)

    Thanks,
    Hal
  • hardhawkhardhawk Posts: 702
    The deal is done. The lease terms are as follows:
    MSRP: $32,170 FWD Limited, Trailer tow, Pwr Gate, Rear Cargo Mgmt, Sirius
    Cap Cost: $30,628 (X Plan) Invoice including $458 in Regional Ad Fees was $30,676
    Acquisition Fee: $595
    36 month, 36,000 miles
    Residual: 52%
    Lease interest rate: 2%
    Rebates: $1,000
    Doc Fees: $95 I was getting a good enough deal I did not complain about these.
    Zero down: Out the door for first payment only. No security deposit.
    Monthly payment before local sales tax: $416
    Monthly payment including 8.3% sales tax: $451

    I feel I got a fair deal and my wife loves her new Edge. Creme Brulee with camel leather. Installed Weathertech floor liners and cargo liner in black as black goes better with the black trim in the new camel interior. They look great.

    Thanks to CarMan and others who have been so helpful.
  • Hi,


    He is my lease deal

    Dont pay higher than this for 2008 Edge Fwd LIMITED

    Here are the details of lease term :-

    2008 limited with :-

    Panoramic Vista Roof
    Power Liftgate
    Sirius Satellite Radio
    Rear Cargo Management System
    All weather mats


    TOTAL MSRP $33,225.00 ...... :shades:

    Edmunds Invoice is $31,100 on this ( does not include ad fee ).

    X-plan price $31,500 :)

    Take $1000 off beacuse of ford lease offer prog.

    Ford Credit charges a $595 acquisition fee on every vehicle that it leases.



    * $0 down.

    With X-plan there is no document fee.

    I am in South Carolina & have to pay only $300 sales tax.
    No 5-7% every month.

    Tag & title $ 39

    *36 months ..................15K miles / year

    *50% Residual Value.

    *2% lease rate aka money factor


    M...Payment $460.76


    I doubt I can do better than this.

    Gl to all :)
  • hardhawkhardhawk Posts: 702
    Looks like you did good! Congrats.
  • Ok, so I am looking at getting a 2007 Ford Edge AWD SEL black clearcoat with charcoal leather interior. Options include trailer tow package, all weather rubber mats, panoramic vista roof, navigation system, 18" painted aluminum wheels, reverse sensing system, and sirius sat radio. The dealership has a sticker on the car for 36,440. They said that they will sell it to me at invoice for 34,315.05. I still feel that this is too much, but they said that is what they bought the car for.

    I told them that I want a payment around $400, but this is the best that they said they can do...
    Total Cap cost......34,537.36 ( which includes down payment of 372.64 and Assignment Fee of 595.00)
    Residual Value 48% which is 17,491.20
    Money Factor of 0.5%

    They said that there is a 1500 rebate but then are charging 1500 combined inception fees and excess cash/rebate/equity.

    36 months with 15k miles and 6.60% taxes

    In the end my payment would be 516.66 a month. MUCH HIGHER THAN I WANT. I am a female and went in alone and so I feel that they are taking advantage of that. What do you guys think??
  • I am in the process of negotiating a 2007 SEL Plus.

    I was offered invoice pricing. When I balked at invoice on a leftover, the dealer then offered invoice price but offered to include Wear Care coverage. I don't know his cost, but all local dealers in S.Florida charge $690 for it. Dealer fee ($698 ripoff) waived.
    Quoted Nov 30th
    Terms 15K, 36 Months
    Residual 45%
    Purchase Price $31013
    Money factor .75
    Inception $595 + 1st Month Payment=$1002
    Monthly $382+Tax=$407

    Wanted to wait until today in case December incentives changed. Try to get more from your dealer. You may not get cash, but at least ask for something of value- like Wear Care for agreeing to take a leftover. 2007s depreciating by the day.

    If he doesn't move, walk away. Check another dealer.

    Hal
  • Hi everyone,
    I have a strong feeling that the lease price I was offered is too high, and came here to get advice on that. First things first, I have never leased/bought a car on my own, so this whole process has been incredibly frustrating and confusing for me. And like a prior poster, I'm a young female who went in alone. Here's the deal:

    I came in looking for a lease, flexible on terms, etc. I have a vehicle appraised for trade at 9k. We did a couple of different calculations - using the trade as part of a lease, and also as part of a purchase. Overall, the lease rates were as follows:

    Sticker on the car (I believe - we went through a few different cars, but this is ballpark) was around 36-37k for a Limited AWD with many options. I have X-plan, so it was going to go down to around 34-35k.

    With the trade (basically 9k down), 39 mo lease with 15k miles/yr, my payments were estimated at $409/mo. With that much down, this sounds high to me (especially after what some of you have paid with 0 down).

    Granted, the car is a bit more expensive, but it seems like 9k down should make a bigger dent than that - when I calculated what I will have paid overall for a 39 month lease including my trade, it comes out to something like $640/month, which sounds really high, considering the X-plan and everything. Any advice would be GREATLY appreciated.

    I'm in Northern Virginia/ DC area by the way...

    Is it best to just sell my current car (not include in the lease) and then use what I get out of that to pay off my lease? My parents are not very much help because they've never had a trade in (always just from lease to lease), but a woman at one of the other dealerships I visited said I was throwing away 9k...any thoughts?

    Thank you all so much - this forum is great and very helpful for us inexperienced car buyers...
  • I'm a girl too and have been watching this forum in prep to lease an Edge too...
    from what I have learned.... YOU SHOULD BE LOOKING AT A 2008 for a better lease deal! Am I right guys?
  • hardhawkhardhawk Posts: 702
    You should be able to lease a similarly equipped 2008 Edge Limited for that kind of money. I would run, not walk, away from that dealer. I think there is some dealer cash on the 2007's in addition to the rebates. You should get your cap cost reduced by 100% of that, not get ripped off for additional inception fees. I assume you are not trading anything and this is a clean, straight lease transaction you are talking about. Where in the US do you live? If you are not in an area that has an excessive winter you sure don't need to pay the extra $1400 or so for AWD as compared to FWD. I had a friend just lease a 2008 Lincoln MKX with the Limited Edition and all options except Nav. for $550 per month with zero down. The MSRP on that car was over $42,000! Good luck!
  • hardhawkhardhawk Posts: 702
    The 2008 residuals are a lot higher than the 2007 models. The 2007 interest rate is lower, but the higher residual may well offset the higher interest rate.
  • hardhawkhardhawk Posts: 702
    Don't put your trade equity doen on the lease. If the leased car is totalled a week after you get it you LOSE that entire down payment. Better to save that and then just use it to help make the lease payments over time. If you have good credit your lease payment with zero down should be somewhere around $500 or a little more a month. You might check the residuals/rates for a 36 month lease vs. a 39 month lease. That won't leave you as much time at the end with no warranty coverage.
  • I live in Utah, and the AWD is the reason that I am getting the edge. Right now I drive a Cadillac CTS with RWD and I can't get anywhere when it snows. Do you think that it should be possible to get a payment close to 400 with that Edge? Are those inception fees normal? With the inception fees, it zeroes out any rebates! I am not trading in anything because they couldn't give me enough for my cadillac, so yes it is a clean, straight lease on my part (not the dealers obviously)! I went into the dealers and told them that I thought that the payment was way too high and that I felt that I was getting ripped off and so they took me in front of their computer and "proved" to me that they were only making $100 on this deal! Yeah right huh? They showed me the invoice that supposedly "we don't usually show this to buyers," and it showed invoice price at 34315.05. Do dealers really pay that much for it? Can they lower the price to less than that? What numbers on my deal need to change to get the monthly payment lower?

    P.S. Thanks so much for all your help!
  • hardhawkhardhawk Posts: 702
    You have to have AWD if you live in Utah!!! The numbers that are relevant are as follows:

    MSRP: The factory sticker price on the window sticker and includes destination fee.
    Capital cost: The "selling price" of the car. This should be no more than the invoice price for the car including destination fee. I just got my wife's 2008 Edge for that number. It was about $500 over what the Edmunds website shows for the invoice price as it includes regional advertising fees the dealer pays. DO NOT figure rebates in at this point!
    Rebate & Incentives: Whatever you qualify for should here be deducted off of the Capital cost figure you started with. Right now I am aware of $1500 in rebates/cash available with a Salt Lake City zip code. There may be more. Ask the dealer to show you the "Vincent Report" for that car's VIN. It will have all available incentives for that exact car.
    Residual Amount: This is the percentage that the car retains at the end of the lease. Yours was 48% for the lease you asked for according to the dealer. THe 2007 residual is lower than a 2008 and also varies between AWD and FWD.
    Lease interest rate: This is the rate they charge on the lease. Yours was .5%, which is excellent. The 2008 rate is 2%.
    Acquisition Fee: Ford charges $595. THis should be added to the capital cost for calculations.
    Document fees: Dealer may charge a small fee.
    Sales tax/property tax/title/tag: Each state is different. IN KS sales tax is added to the payments each month. Property tax is paid when you get your tag along with the tag fee.
    THERE SHOULD BE NO OTHER FEES OR CHARGES! They may try to sell you Wear Care, which is additional insurance. There should be no "inception" or other fees-Period!!

    When you have all these numbers, go to www.leaseguide.com/calc.htm This is a lease calculator site that lets you double check the numbers the dealer gives you. If they are not pretty close, you are being ripped off. Even selling at invoice, a dealer gets a 3% holdback payment from Ford, so even if they sell you at invoice, they are making 3% of MSRP.

    Sorry for the long post but hopefully you can use this information and the lease calculator to show them in black & white why you will not pay more that you should! A reputable dealer will be honest with you and not try to take advantage.
  • hardhawkhardhawk Posts: 702
    I neglected to say that the lease interest rate can be different depending on the length of the lease. Sorry about that!
  • Thanks Hardhawk, I am going to the dealership right now to take the vehicle back and let them know that they are full of it!
  • ddeliseddelise Posts: 339
    Take it back? Did you sign papers already???
  • hardhawkhardhawk Posts: 702
    Hopefully they just let her drive it for an extended test hoping that she will like it and that will be enough for her to overlook the bad deal. That seems to be a pretty common practice. After all, who wants to take back the brand new car he/she has been driving for a day? They won't get serious with her until they know she is willing to walk away from a bad deal.
  • ddeliseddelise Posts: 339
    That's what I figured (or hoped) - let's wait and see what happens!
  • hardhawkhardhawk Posts: 702
    Yes, I will be anxious to hear what happened. A dealer has to make a reasonable profit to stay in business, but that deal she was being pitched was way beyond reasonable. It is sad that car buying/leasing has to be such a negative experience for so many people. That is why I love my dealership. They are open, honest, and they will give me a fair deal without having to do battle, plus they give me great service. That is why I am on car #8 from them since I started doing business there 20 years ago.
  • Well I am back! To answer your question, I was just test driving. I went to the dealership and told him that his deal was crap and he said well we aren't making any money on this deal! I said well yes you are, the holdback is your profit and these stupid fees. He asked for the keys to the Edge and said "well if you change your mind, let me know." So I left. I went to another dealership that had an 08 with vista roof, sirius radio, leather, AWD and some other things, but they quoted a payment of 574. When I laughed and started coming at them with numbers, they stuttered and got their sales manager that wasn't any smarter and so again I had stupid car salesmen telling me a bunch of lies! Anyways, I left there as well. So now I am back to square one. I don't know who to go to, because the dealerships that I have been to haven't been able to find what I want. They find them out of state, but I don't want to agree to buy a vehicle without seeing it first.

    Here's the kicker.......The first guy, Marco, called me back and wanted to know what he could do to sell me the car, I told him get my payment around $400. He called me back several times later explaining fees to me, but unwilling to lower the price of the car. So I told him that I am going to have to go somewhere else. He is faxing me the information right now "the lowest I can go", but the payment is still close to 500!

    How are you guys finding such great deals, I am finding nothing at all unless I go to a stripped down model.
  • goateegoatee Posts: 51
    Can anyone help? First time trying to lease. 2008 Edge AWD Limited (yes I fell for the rear cargo cover option). Dealer says it will be here in early January sometime. Retail list price $34,600, Invoice as per Edmunds and kbb is $32,390. I am looking for a 36 month deal with either 12,000 or 15,000k mi/year. BTW -I live in Ohio if that makes any difference. Can put down two to three thousand - no trade. I am expecting payments in the high $300's. Can anyone help this novice?
  • To JLBRADSHAW

    There is a Japanese saying that when translated to English says, "Always appear to cooperate."

    When negotiating for a car, DO NOT alienate yourself from the salesman. manager, or dealership. It will make them want to work with you LESS. Do they want your business? ABSOLUTELY! Do they want to be called a--holes or treated disrespectfully? NO!

    AND what they seem to hate most are internet know-it-alls so learn what you can but DON'T share your knowledge with them. Just negotiate with what you know.

    NEVER talk about a trade-in until you have negotiated the price of your new car.

    The key to negotiation (I am a professional REALTOR for 25 years) is to have it appear that everyone wins in a successful negotiation.

    Therefore, insist on invoice pricing. I buy/lease a car about every 2 years, and I have NEVER (yes, NEVER) paid a penny over invoice. Sometimes you can tell them you're a member of a local Credit Union and can even get it for $100-$200 under invoice. Are you a BJs or Costco member? Mention that too.

    Once you establish a price, then the key is the interest rate. From there, ask for a complete accounting of evry penny to look for the "fat" in their bottom line price.

    Whatever you do, DO NOT burn your bridges behind you because you just may have to go back a dealer you walked away from if they have the only model you are looking for. That's a bad position to be in.

    Hal
  • hardhawkhardhawk Posts: 702
    Ours was a special order, but that should not make a lot of difference. Find one you like, write down all the info from the window sticker then go home and find the invoice figure on Edmunds (don't forget to add advertising fees) then run the numbers yourself on the lease calculator to see if the deal you are getting comes close. You do have to get the residual and lease interest rate from the dealer, but you should be able to get that. Watch out as some dealers will try to "mark up" the interest rate for added profit. You can go to www.fordvehicles.com to search area dealer's inventories and even print window stickers on what is in stock. Then e-mail them and ask for a lease quote for the term & mileage you want. Ask them to provide all the numbers that I set out in my earlier post so you can run your own calculation. By dealing with the internet sales manager, you hopefully can cut out the on the floor sales person and some of his/her games. You can also ask what they have on order and due to come in soon. I agree with Hal in that you should be courteous and professional in your communication with them. You should also tell them that you are serious and ready to pull the trigger at the correct price point. By running your own calculation in advance, you can find out if your price expectation is reasonable.
  • Am I responsible for the Doc fee, Licensing, Title Fee, Tire Tax, Property taxes ? That is an extra 531.25.
  • ddeliseddelise Posts: 339
    Doc Fee - most dealers charge something or other. In Florida, the charge is normally $400-$700. In Virginia, DC area the charge is more like $100. At $100-$200 - I think it is fair for the service they provide of getting the plates, paperwork, etc. At $400-$700 - then I better really like the price being charged for the car.

    The other fees to me appear to be state fees and are all legit - no negotiating. The dealer is collecting and passing on to the state.

    Damon
  • hardhawkhardhawk Posts: 702
    I paid a small doc fee, then all of my title, registration, and personal property tax. Those can vary by state and even county here in KS. All sounds legitimate to me.
  • Well since I am having a hard time getting anyone around Utah to get me a payment around 400. We decided to change courses. What do you think

    2008 Ford Edge Limited AWD
    Black Clearcoat
    Loaded with everything

    MSRP 38383.00
    Getting it at invoice of 36,819
    Residual of 51%
    Money Factor of 2.0
    15k miles
    36 months
    1800 rebate

    Payment is quoted at 540.00/month

    I know, a lot higher than the initial 400 I was wanting! HAHA We figure that if this is a good deal then we would get it because it is a lot more vehicle to me. What do you guys think?
  • hardhawkhardhawk Posts: 702
    I used my lease calculation site using your numbers but with no sales tax input into the calculation. I also used $595 for the acquisition fee. You did not mention any other fees so I did not include those. The monthly number the calculator site come up with without any sales tax is $491.33. Where I live, the sales tax is 8.3% so that would add another $40.78 to the payment for a total of $532.11. That is pretty close to your $540 number. This dealer is being way more up front with you that the others, unless there is no sales tax in his calculation, then something is wrong. I just wish KS had the $1800 in rebates instead of only $1000, but those incentives do vary by area and I got mine last month so the amounts here may have changed. That Edge sounds beautiful. I love black cars and had it been me getting ours that is the color I would have had. The Creme Brulee will, however, be a lot easier to keep clean!
  • goatee - look at message 354. I leased a similarly priced 08 recently. Let me know if you need more detail.
  • goateegoatee Posts: 51
    Thanks for the info - Seems like our deals should be similar. Tax in OH is 6.5% so maybe that will help also. I would expect payments somewhere close to yours. The only problem I have right now is that the vehicle won"t be in until after the current round of incentives expire so I really dont know what my bottom line will be. Right now, its invoice minus any rebates that may be available. I am looking for 3 yr 15,000 mile a year lease.
This discussion has been closed.