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Ford Edge Lease Questions

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  • Tax here is 8%.... I'm not sure if I mentioned that I was able to take advantage of X-Plan pricing.. I work for an automotive supplier, so I was able to get that easily. I have since found that anyone can apply for an X-Plan PIN here: http://www.blueovalforums.com/forums/index.php?showforum=45
    Good Luck! It's a cool car, I'm quite happy with it so far.
  • Hi Hal. The "Ford Credit Owner Loyalty" program provides a $500 cash incentive to current Ford Credit lessees. The "Earlybird" program enables current Ford Credit lessees to get out of their vehicles up to two months early for free if they lease a new vehicle. The "AAA eCoupon" and "Partner Recognition Plus Private Offer" sound like direct mail or coupon programs that one has to have been physically mailed or e-mailed a certificate to qualify for.

    Car_man
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  • You're very welcome, hardhawk. Congratulations on getting your new Edge. Thanks for taking the time to stop back and share the details of your lease with everyone. Real world examples like this are always helpful to others who are in the market for similar vehicles. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with everyone. Happy holidays and enjoy your new ride :) .

    Car_man
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  • Time to turn in my LS (Dec 30) I have a dilema though.
    We are driving to Fl in husbands car on Jan 9- Apr 3
    Thought we would wait on the 2008 Edge Lease until
    April when we return.
    or are the very best deals at the end of the year? and
    should we move now and leave it sit while we are gone?
  • hardhawkhardhawk Posts: 702
    My experience leads me to state that the best lease deals appear at the end of each quarter. This is based on years of watching the market and keeping track of annual events. With the economy continuing to be shaky, the traditional patterns could be re-set in 2008. I would wait until March if it is going to sit in your garage for months.
  • goateegoatee Posts: 51
    My 08 Ltd AWD is due sometime in January. Not sure if I will be leasing or buying but I am leaning toward leasing. Does anyone have any information about this X-Plan discount? I am reading about this on blueovalnews.com and I have to say I am a little suspicious. Could it be true? If so, how do I get an X-Plan number?
  • X-Plan is a Ford discount program for companies that do business with Ford.

    My wife works for a major airline, and as they buy large volumes of Fords, she can get the discount.

    It's a great program because the X-Plan price is set by Ford to the dealer. The dealer can't charge a "dealer fee" add-on either. That's a Ford rule, and the X-Plan price is usually +/- $100 of invoice price. Also, most all rebates apply.

    I've seen some people on blueovalforums offering these codes, but there is limited transferability so don't pay for one. If you can get the car for invoice, you'll be close in price, but the dealer fee maybe something you can't get out of.

    Hope this helped.

    Hal
  • Hi all ,

    new to the site as I have been happy with my 02 Cherokee for a long time. I am looking at leasing a new 08 edge as I know I am city living in downtown st louis. The model I am looking at is as follows. any assistance with lease rates payments I should target etc would be appreciated.
    I would be putting 0 or little down. and am in the ST Louis area

    2008 Limited black
    20" premium wheels
    class 2 trailor tow
    interior appearance upgrade
    panoramic roof

    thanks
  • I am looking at leasing a ford edge limited and got the below offer yesterday can you help me figure out how to move forward in negotiating this deal?
    MSRP (Sticker Price) $36,210.00
    Discount Price $34,381.95
    Term/Miles 24mo 12,000 miles a year total of 24,000 at the end of your lease
    Lease Rate .75%
    Residual 62%
    Cash Down 0.00
    Ford Rebate $1,250.00
    Your Sales Tax Rate 7.741%
    Govt Fees (personal property tax and Plates) $216.00
    Taxes $984.48
    Security Deposit (Refundable at the end of lease) $575.00
    Payment $570.88
    Total due at signing $1145.88

    thanks alot for your help!!
  • Hi jgriffs. You never mentioned how long you want to lease the Edge that you are interested in for or what mileage allowance you need, so 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. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge Limited AWD with 15,000 miles per year are 2.0% and 50%, respectively.

    Let's come up with some approximate pricing so that we can estimate this truck's monthly payment. The Edge that you described has an MSRP of around $36,320 and a dealer invoice price of $33,855. Ford is currently providing $1,250 lease cash on this model in most areas. If we subtract that from the invoice price and add $500 for the dealer we come up with a capitalized cost of $33,105. Using these numbers, I come up with a 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $458.

    Car_man
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  • Hi again jgriffs. The lease rate and residual value that you were quoted for the Edge that you are interested in are right in line with Ford Credit's program for it. The selling price looks reasonable as well. If you like the truck, I personally don't see any reason not to go for it.

    Car_man
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  • Car_man,

    Can you supply money factor and residual for 08 Ford Edge limited AWD lease for 12k per year

    Thanks
  • mrg6mrg6 Posts: 1
    I'm looking at an Edge also and have X-plan pricing. 2008 Edge AWD Limited with a trailer/tow, power lift gate, Sirius system and the rear cargo mgmt. MSRP is $34,155. Here's the details that the dealer (Apple Valley Ford in MN) is offering. Does this sound like it's inline with your figures?

    X-plan price: $32,432
    Rebate: $1,750
    Money factor 3.5
    $50 dealer fee
    Sales tax is 7%
    I have $1200 from my current lease to pay
    $600 will be paid down
    Their payment is $565.30/month.

    Thanks for your help.
  • Is there anyway to tell what the current Ford lease rate is? I see in post #410 the money factor is 3.5. If that's a "money factor" it equates to 8.4% interest. I don't think I'd ever pay that in this day and age of falling interest rates.

    I had a dealer quote me a money factor of .00225 (2.25) for 36 months which is 5.4%. I think that is still pretty high considering a 60 month loan is 3.9%.

    Is there anywhere we can find out a typical interest rate for Ford, for someone with credit rating over 700 (I've read many places that anything above that gets best rates).
  • Ford uses APR in their leases, not money factors. If a dealer is quoting you a money factor they are doing something wrong or more likely, trying to pull a fast one on you. The current Ford "lease rate" is 0.75%. That would be a money factor of 0.0003125. It's not hard to qualify for the best rates from Ford. I have been doing so since I was 18 years old. I think they are the most credit friendly credit company ever, in my opinion.
  • Hi dsnj06. You never mentioned how long you want to lease the Edge that you are interested in for, so for now I will give you the details of its 36 month lease program. Let me know if you want a different term. ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge Limited AWD with 12,000 miles per year are 2.0% and 52%, respectively. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. So a lease rate of 2.0% would be equivalent to a money factor of around .00083.

    Car_man
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  • Hi mrg6. You're fortunate to have access to Ford's X-Plan. It should guarantee you an attractive selling price on the Edge that you want without having to haggle. The lease rate that you were quoted seems slightly high though. the last time that I checked, Ford Credit's base lease rate for a 36 month lease of a 2008 Ford Edge was only 2.0%. Make sure to double check the lease rate that you were quoted.

    Car_man
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  • simz1simz1 Posts: 1
    Im in the market to lease a Limited Edge AWD loaded with Nav, 20inch wheel package, sunroof, basically every option except the entertainment system. The sticker was appx. 39,000. The lease was 12k miles per year, $2,000 total out of pocket at signing for $459.00 per month. Maintenance for 3 years included. Im in NJ and this was the best price I got out of 2 dealerships ive been to.
  • Hello again, Carman. Please provide MF and Residual for 24 month, 15k miles. Current lease cash program, too. Not sure if its $1,250 or $1,750 lease cash. Thanks very much.
  • hardhawkhardhawk Posts: 702
    He will need to know where you live as these factors vary by geography. Have you tried asking your dealer what these numbers are? You can get the lease cash numbers from the Ford web site as well as suggested lease numbers. I found that most dealers will give you the information you are asking for if you approach them in the right way and they know you are serious about leasing a car. Many will provide this information via e-mail. Since Car Man has to try to cover all the Edmunds boards, it can take time before he can get back with a response. I always got the numbers from the dealers then waited to see if Car Man confirmed them.
  • syrahsyrah Posts: 9
    Here is what my local Tampa, FL car dealer is offering me on a '08 Edge Limited, vista roof, navigation system,pwr liftgate,20" wheels, sat radio. How does it sound?
    3yr lease, 15k per year

    MSRP=36,380
    Sale Price=31,508
    Lease Rate=2.00
    Residual = 49%
    Aquisition Fee= 595
    Payment incl fees & Tax = 35 payments of $515.45

    thanks in advance......
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ribbonking. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2008 Ford Edge Limited 2WD with 15,000 miles per year are 0.75% and 57%. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. The lease cash that is available on this truck varies by region. I need you to tell me what state you are in to give you an accurate idea of what it is in your area right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi syrah. The dealer invoice price of the vehicle that you described is probably around $33,900. Plus Ford is currently providing a $1,750 cash incentive on leases of this model through Ford Credit. This drops the invoice down to around $32,000. The selling price that you were quoted looks excellent to me. The lease rate looks good, too. If you like the Edge, I personally don't see any reason not to pull the trigger on this deal.

    Car_man
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  • eric0476eric0476 Posts: 2
    I am looking at a 08 SEL AWD that has the premium package (leather), roof, & SYNC. I have 7 payments left on my 06 Eddie Bauer Explorer. Ford is paying 2 dealership is paying 3 for me. $1200 (2 payments) will be rolled into the new lease. Here is their best price:
    $4000.00 down
    $459/month
    36 months/ 12K

    Is this a good deal or should I be able to get a smaller down payment?
  • mudbug90mudbug90 Posts: 1
    I just left a dealership in Smithtown Long Island, the deal was for an SEL with leather and the Vista roof. included in my deal was the money for my last 3 payments on my G35X = $1,200.00
    On the SEL Vista w/ leather AWD $425.00 x 36 with $2,000 TOTAL OUT OF POCKET
    On the SEL w/ leather AWD $389.00 with $2,000 TOTAL OUT OF POCKET

    I said to the salesman this makes no scence where is the money for the lease on my Infinity? If I give you $2,000 are you giving me $1,200? or do we deduct that from the $2,000???? Making me owe you $800.00? He said it is already included in the price.... Whatever..... I walked. The deal was prety good. But for te heck of it I checked out a Lincoln MkZ AWD, I realize this is a car, the price tag was $2,800 more that the Egde and the deal was $379 per month x 39 months, with TAX out of pocket... nothing else... Tax roughly $1,200.... I know it is 3 months longer which is another $1,000 but if you ad that in to the $1,200. and drop it to 36 months, the deal is $379 x 36 with $2200 total out of pocket. THE TRICK HERE IS TO HAVE AS LITTLE AS POSSIBLE OUT OF POCKET. Incase you total the car the money out of pocket is gone forever. Not insured, and not well spent.
  • I have until Saturday 4/19 to close this deal:
    2008 AWD-LMTD Black. 36 months; 10.5K per year;
    Leather; Vista; Nav; 20" wheels; X-PLAN Price;
    $1600 out-of-pocket. $505per month.
    All comments and advice welcome.
    Thanks :confuse:
  • bg1811bg1811 Posts: 5
    Car Man. I don't understand the various terms such as money factor, lease rates, etc. Is there any way you can give an example of a Edge with a MSRP of 34,000 and what you times what times what divided by and so forth. I need an example of these various terms used in an example. Thanks. I'm interested in an Edge for my wife but I'm having difficulty in using all this info.
  • raloraralora Posts: 14
    Car Man,

    I need May's lease & RV for the following: Ford Edge Limited 36/mo. lease term
    15,000 miles/yr.

    Thanks,
    RL
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Eric. $4,000 is way too much money to put down on a lease. I always advise consumers not to make large down payments on leased vehicles. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you would be better off going with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings bg1811. It sounds like you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. Once you have read them, let me know if you have any specific questions about leasing an Edge.

    Car_man
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This discussion has been closed.