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Ford Edge Lease Questions

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Comments

  • lunchmeatslunchmeats Posts: 8
    Did you do a deal if so what was the bottom line. I am shopping for a similar car can you e-mail the dealer and sales person.

    Thanks
    Ivan
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the info that you're looking for, ralora. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge Limited 4WD with 15,000 miles per year are 2.25% and 47%, respectively in most areas.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jga638jga638 Posts: 1
    Does this appear to be a good offer:

    MSRP 32,305

    Options: Mats 55
    Vista Roof 1495
    Pwr Liftgate 490
    Cargo Mgt 65
    Sirius 195
    Destination 705

    Total 35,310

    Total Out-of-Pocket $2000
    12,000 miles/yr
    $450/month

    I ran the numbers and it looks good as far as I could tell, but I would like to hear from others -I haven't leased/bought in many years. Opinions greatly appreciated. Thanks.
  • dirtballdirtball Posts: 1
    Hello All,

    This is my first time posting here, so forgive me if I say things incorrectly.
    I was offered this by a dealer in Southfield (metro Detroit), Michigan:

    2008 Ford Edge SEL FWD
    Options: Sync; Audiophile System; Panoramic Roof; Sirius; Cloth interior...
    MSRP 31410.00
    Price 28601.65
    Adjusted price w/A Plan and Ford Loyalty - $25601.65
    36-month lease; 15,000/year
    Residual - .46
    Money Factor .0009375 (2.25% APR)
    $616 due at signing including 1st pymt
    Monthly Payment $ 388.32

    My question is, does this sound like a good deal? By my calculations using the Money factor and resid, I come up with a bottom line payment of $367.04 with tax.
    It seems alright to me, but - - - I just want to be sure, since you're the experts. Has anyone gotten any better pricing? Should I haggle for lower payments?

    Thanks in advance for your input!
  • wufibugwufibug Posts: 1
    Hello,

    My wife and I have been looking into an Edge for quite some time and we're thinking about pulling the trigger this weekend.

    Specs are as follows:

    2008 SEL
    Vista Roof
    Blk Leather
    Cargo Management
    Power Liftgate
    Power fold down seats
    Sync
    18" Chromes

    We're in San Diego, CA 92122.

    The local dealer has one in Vapor Silver. We didn't get into invoice, but...

    sticker was $31,770...

    He quoted us:

    $2750 in rebates

    $2,000 down, $299 per month, 36 months, 15k

    This was without running our credit and using the xplan that my wife gets through work. When I told him I didn't want to put anything down, he said it depended on my credit -- maybe a safety deposit?? He also said that for every $750 less I put down my monthly payment goes up $20.

    My wife and I both have decent credit, seven hundred and change. Do you think we'll qualify for the Red Carpet low lease rate? If so, what % is that? Residual?

    Thanks in advance,
    wufibug
  • baggs32baggs32 Posts: 3,210
    Hi Car man,
    We're looking for the lease info on a 2008 Edge SEL or Limited in the Pittsburgh, PA area. We can do 10,500 miles per year for 24, 36, or 39 months. MSRP of the Limited we like is $36,140 and we have not negotiated a price yet. We're still in the info gathering phase so if you can give us an idea of a monthly payment it would be appreciated too. $34,965 is the MSRP of the SEL we like if that helps any.
  • djhalptertdjhalptert Posts: 115
    No one is replying out of kindness. In a word......no.
  • djhalptertdjhalptert Posts: 115
    That is a pretty good deal. Some thoughts though....

    1. Never put money down on a lease. If you total it driving it off the lot you are out that $2,000. Put that money in the bank and pay your slightly higher monthly payment with it.

    2. If it is a FWD Edge SEL and the current residual is 46% and MF is 2.25% then the dealer gave you an additional (approx.) $2500 off sticker plus rebates and your down payment. That is a pretty good deal but you could probably do better. The new incentives come out 6/30. I'd wait it out if possible. The deals will only get sweeter as the new model delivery date gets closer.

    I got $350 per month, nothing down on a SEL MSRP $33K. They need your business more than you need a car this week. Wait until after 6/30 or let them come down even more on sticker.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi baggs32. Let's work up a lease payment on this vehicle for you and see what we come up with. You never mentioned its selling price, so for now I will assume that you will be able to get a $2,000 dealer discount plus the $1,750 lease cash that is available on it in your area. According to my calculations, if you were to lease a 2008 Ford Edge Limited AWD that has an MSRP of $34,965 and a selling price of $31,215 through Ford Credit right now for 24 months with 10,500 miles per year, your zero down, pre-tax monthly payment would be around $443. The payment for an otherwise identical 36 month lease would be around $428. The 39 month payment would be $420.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • madden01madden01 Posts: 1
    Recent quote: Edge Limited AWD - Loaded - MSRP 38,520

    Lease deal I was recently quoted in NJ is $250 under X-plan price - selling price was $35,900 - before 3,000 rebates (inclduing FMCC rebate).
    36 month - 15K miles a year
    Residual - 47% or 18,104
    APR was 2.25 or .000933 money factor
    Sales tax number looked a little high at $1,501. Is sales tax in NJ (7%) calculated off the selling price less residual or off MSRP less residual?
    Monthly payment - $498 all in.
    Money down was $1,617 which only included first month payment, doc and motor vehicle fees and bank acquisition fee of $595.

    Let me know your thoughts on the deal? Is it possible to get bank fee removed? Should I wait till end of month to get better deal...Any thoughts would be appreciated.
  • chuck68516chuck68516 Posts: 195
    If you negotiated a selling price of $32,900 and could qualify for the 4.9% financing through Ford for 72 months your payment would be $528. Only $30 more and you would OWN IT.

    Don't lease this car for $500 per month. You could lease a BMW X3 for $475 easily. Take the traditional loan or walk away.
  • cobrakaicobrakai Posts: 2
    I am hoping you can post the June money factor's and residuals for an 08 SEL Edge.
    24,36 or 39 mos
    10,500 miles a year.
    Thanks in advance for your very valuable service.
  • njblokenjbloke Posts: 6
    My parents are interested in leasing a 2008 Ford Edge SEL - no options. The MSRP is 29,020 with destination, and the invoice is 25,076 (inc. the 2K cash back). Are there any other incentives in the NY/NJ region, and should they aim for a price of less then the 25,076?

    Please advise what the residual and money factor are for a 3 year, 36K mile lease. if you know July's rates that would be helpful too.

    They are getting quotes of around 410/month (all-in), but I believe this seems high compared to what I've read on this forum. Thanks again...
  • Karen_CMKaren_CM Posts: 5,018
    A reporter from a national newspaper is looking to speak to consumers who just purchased a new Ford Edge within the past six months and whether it had anything to do with gas prices. If you’re interested in speaking to the reporter, please contact Chintan Talati at ctalati@edmunds.com with your daytime contact information no later than June 23, 2008.

    Community Manager If you have any questions or concerns about the Forums, send me an email, karen@edmunds.com, or click on my screen name to send a personal message.

  • daddyjakesdaddyjakes Posts: 13
    I am fairly new to leasing and this may be basic to many but I need some help understanding. Northern NJ.

    MSRP 32425
    Resid 49% for 12k a year lease
    MF said it was 2%
    doc 149
    MV 416
    Bank 595

    He said there was 2k and 1k in incentives, I assumed that 3k would take the car down to 29,425 before I negotiate. I tried to start at invoice go from there. He said 31,000 is a great deal. Shouldn't the 3k in incentives start me under 30k? He said with 2k down he could for 400 a month. Shouldn't the agreed upon price be lower?

    Thanks in advance
  • awinnerawinner Posts: 22
    Here is what the dealer emailed me directly for the Edge 2008 SEL. "Sun and Sync" package w/ power lift/18" chrome wheels/cargo maintenence...I think the MSRP was 34,200 less 2 discounts in showed on sticker, so it then said $32,400. I think this is a little high....1st they said they would still honor Sun and Sync package...as they still advertise this on TV...so he said it was 279/month, total d/o 2100...but then this is what he sent me.....the audi A4...it looking better by the minute.

    Ok, here is the breakdown:

    36 month lease
    12k miles per year
    $3645 combined rebate
    Gap Insurance Incl (Comes in Fords Red Carpet Lease program)
    $2953.87 customer cash including drive off
    $354.20 including tax
    $15,986.40 purchase option at end of lease

    36 month lease
    12k miles per year
    $3645 combined rebate
    Gap Insurance Incl
    $3948.27 customer cash including drive off
    $324.82 including tax
    $15,986.40 purchase option at end of lease

    24 Month Lease
    12k miles per year
    $3645 Combined rebate
    Gap Insurance Incl
    $2956.87 customer cash including drive off
    $330.78 Including tax
    $19316.90 Purchase option at end of lease

    24 Month Lease
    12k miles per year
    $3645 Combined rebate
    Gap Insurance Incl
    $3978.32 customer cash including drive off
    $287.78 Including tax
    $19316.90 Purchase option at end of lease

    Sorry for the delay Andrew. I've been quite busy today! Hopefully this is informative and if you have any questions, please let me know. As you can see, the two year program is very, very good. I wouldn't see any need to go to a three year term since it is not saving you any money. Can't beat those payments for that car though!
  • awinnerawinner Posts: 22
    could you please tell me the name of the dealership you got the car from...sounds like a good deal.
  • As with nearly any Ford vehicle, the best strategy is to go to a high volume dealer and assume you can AT LEAST get $500-$1000 under X-Plan price plus alll rebates.

    You can go to www.fordpartner.com and type in the code DAVET to figure out X-Plan pricing. It will allow you to search your local dealer's lot and will tell you the exact X-Plan pricing. I would make an outlandishly low offer at first (around $5,000 under sticker and then add rebates) and gauge the salesman's reaction. Eventually you will get to middle ground.

    Remember, they need to sell you a car more than you need to buy a car.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cobrakai. In most regions, Ford Credit's current base lease rate and residual value for a 24 month lease of a 2008 Ford Edge SEL AWD with 10,500 miles per year are 0.75% and 60%, respectively. The numbers for an otherwise identical 36 month lease are 2.25% and 50%. The 39 month numbers are 2.5% and 48%. 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.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, njbloke. In your area, Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge SEL AWD with 12,000 miles per year are 2.0% and 49%, respectively. In addition to the $2,000 lease cash that you mentioned, I believe that Ford is also providing $1,000 bonus cash on deals through Ford Credit.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi daddyjakes. You've got the right idea. Forget about the cash incentives at first and negotiate the lowest possible selling price on the Edge that you want. Given the current dismal state of the auto industry, I don't think that you will have any trouble getting an Edge in your area for dealer invoice and then have the dealer subtract the available cash incentives from that. You can look up the dealer invoice price of the exact truck that you want over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • bg516bg516 Posts: 15
    i looked up the x price and used it for a price at the dealer, but they asked for a pin number to give me the price, of course what do i know about pin numbers. any advice, so i can use your great informatiton and get the deal?

    barry
  • bg516bg516 Posts: 15
    spoke to my ford dealer, they want a pin number for an xplan price, problem is that i am now retired and do not have one.

    does anyone have a pin number that i can use??

    thank you
    bg
  • cusamanocusamano Posts: 2
    Hi Car man
    We're looking for lease info on a 2008 Edge Limited in Miami, FL. 10,500 miles p/yr for 39 months. We have negotiated a price of $29,995 can you give us an idea of what monthly payment we should be looking at either with zero down or with $800 down. Thanks
  • Refer to my previous message about using the code to log in to the Ford Partner web site. There it will say, "GENERATE PIN." You can then enter in your info to generate a pin. NOTE: They may still ask you for proof of membership to the organization that is assigned to that particular code. DAVET is the code assigned to members of the Disabled American Veterans organization.

    My second response is why are you talking to that dealer if they won't go under X-Plan? Ask them to give you under X-Plan or walk away.
  • bg516bg516 Posts: 15
    thank you, i am a member of the disabled american vets, so i hopefully will be able to get one.

    barry
  • bg516bg516 Posts: 15
    i am buying a volvo, they do give a better price with the xprice. i don't know why, but they are able to do a better deal.
    i went ahead and sent it to them

    thank you again, you really helped me out,
    the only question is will there be gas in a few months to buy at any price, i am old and recall the 70's when i had to go every other day and wait in line to buy a whole 8 or 9 gallons of gas. I will live the the poor fuel milage this last time around, but i am worried about getting it. Now that i am retired, i only drive the truck (SUV) about 500 a miles a month.

    thanks
    barry
  • daddyjakesdaddyjakes Posts: 13
    Car_man

    Thanks for the reply and the advice. I went today and got down to invoice fairly easy but when I mentioned the cash back incentive it didn't really change anything. Just so I am clear, if get the price down to 28k and there is 3k of incentives, the price should be near or at 25k right? Would or should the incentive take me well below invoice?

    Thanks in advance
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, daddyjakes. Yes, to truly get the Edge that you are interested in for dealer invoice you would have to pay $2,250 to $2,750 (the regional lease cash that is currently available on this truck below invoice).

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • topps9898topps9898 Posts: 17
    Hi all,

    First time post; a newbie to both this forum and car buying. I need some help and this looks like the right place.

    I am looking to lease a new ford edge, I am just interested in the sel AWD with the Vista roof. I want a 3yr lease at 12k per year and was hoping to stay around 300 per month.

    My dealer is offering me a Dealer Demo with 3600 miles on it. It is a limited with voice navigation, sirius, matts and the vista roof. Leasing a Demo doesnt bother me as much because it is a lease and I will give it back.

    Below are the details

    3 yr lease $3500 down 12K miles per yr

    "Dealers terms"
    The money factor is 2. The doc fees are $125 and the Motor vehicle fees are approximately $421.70. The tax is $1195.96. There is no security deposit and Gap insurance is automatically included. The residual for three years at 12,000 miles per year is 47%. The monthly payment for two years was $209 and the payment for three years would be $336.

    Dealer
    Standard Price $32,305.00
    RUBBER MATS $55.00
    Vista Roof $1,495.00
    Navigation $1,995.00
    Sirius $195.00
    Destination & Delivery $705.00
    MSRP $36,750.00

    Rebates $3,500.00
    $33,250.00
    Demo/Dealer Discount $1,140.00
    Price $32,110.00

    This seems a bit high. I definetely think that a car with 3600 miles on it should be coming with a much larger discount then $1140. Can anyone give me some advice on this deal and how I should negotiate going forward. Fords rebates end on 7/31 and I am hoping to make a decision by then. Thanks in advance for your help.
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