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Ford Edge Lease Questions

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Comments

  • steevosteevo Posts: 330
    Post the final Capitalized Cost of the vehicle from your lease contract. The rest can be extrapolated.
    Nice deal :D
  • hardhawkhardhawk Posts: 702
    Since I am leasing a new Edge soon, I would like to see the following info on your deal. MSRP, miles per year, FWD or AWD, model and model year, Cap cost, cap cost reductions or additions, acquisition fee, interest rate on the lease, and residual. Also, do you pay sales tax on the payments only as they come due or on the whole car up front? Thanks for sharing!
  • steevosteevo Posts: 330
    From his first post :
    "I got an Edge Limited AWD fully loaded - DVD Entertainment. MSRP of $38,260. I put down $2,500 out of pocket which included the first payment, title, taxes, fees & dest. charges. My lease is for $394/month for 36 months and 12k/yr."

    So from there figure he got the 750 Red Carpet cash and the 500 customer cash(at leat thats what it is in NY). The current lease is 3.5%/55% . We know its 2008 because its a Limited. Only unknown is what the final selling price or Capital Cost of the vehicle was.....
  • hardhawkhardhawk Posts: 702
    Thanks for that info. He must have gotten a heck of a low cap cost to get the monthly number that low! If you take out the first month payment from the $2500 that whacks any cap cost reduction to $2100. If you estimate another $500 for title, tags, personal property tax, etc. that whacks it down to $1600 cap cost reduction. Even with $1250 in cash (only $1000 in KS) he would still have had to get a cap cost well below invoice to make that monthly payment number work. Is the monthly payment number inclusive or exclusive of sales tax?
  • steevosteevo Posts: 330
    Thats what we need to know...Figure its possible to be 1000 or so under invoice due to the 1250 in incentive cash, but its still a stretch.
  • Can anyone tell me what the residual and money factor are on 2008 Ford Edge Limited FWD for a 39-mo lease. I am in northern California and the dealer is telling me the residual is 49% and the money factor is 4.5%. The residual on this vehicle seems low and the money factor high. Thank you for your wisdom.
  • hardhawkhardhawk Posts: 702
    My dealer tells me for a 36 month, 12000 mile per year lease on that model the residual is 52% and the lease rate is 2%. Hope this helps.
  • My bottom line deal...
    2008 SEL AWD List: 33860 (seating pkg / vista roof / prem chrome whls / reverse sens / sync / sirius /...) 2500.00 trade 200.00 down 36mo @ 15k/yr - 355.00 per month inc. 8% NY state tax. I have been reading through the forum quite a bit, and learned a lot.... we originally started with a similarly equipped 07 and numbers came in very high. We then switched to an 08, and some back and forth we arrived at the deal. There was no discussion of residuals & money factors - only montly payments and a little negociating on the trade in.
  • Hi Board!

    Never leased before, but I feel that this may be more practical at this point in my life.

    Here's what I can tell you--

    I am in Southeast Florida (West Palm area).

    The Maroone Group has a 2007 Ford Edge SEL Plus leftover. Invoice pricing is $29550 according to Edmunds. I can qualify for X-Plan which is usually Invoice + $100, but I intend to offer $29000 for the unit (unless you have a better suggestion). They have tons of leftovers and if they don't want the deal, I found 2 other dealers with acceptable alternatives.

    So assume a price of $29000. Sales tax in Palm Beach County is 6.5%. I am interested in 24mo/15K per year or 36mo/15K per year.

    I plan $0 down other than rebates which according to Ford's website is $1500 for 2007 models and I have another $500 from another rebate source (American Quarter Horse Association) Total down $2000 (through rebates).

    I have excellent credit so I will qualify for top tier rates.

    What should I be looking at in terms of a lease payment?

    Thanks for your help,
    Hal
  • ddeliseddelise Posts: 339
    You will probably not get a very good lease rate on a 2007 model. The lease rate will probably be Ford standard, and the residuals will be very bad too.

    If you want to lease, you should look at a 2008 model - the final lease cost will be much less than a 2007.

    If you want to buy and plan on owning for a few years, then the 2007 might make better sense.

    Damon
  • hardhawkhardhawk Posts: 702
    I have been told that the lease interest rate for the 2007's is about 1.5% lower than for the 2008's. The killer will be in the lower residual for the 2007 as opposed to the 2008.
  • Thanks guys for your input. It was helpful but limited.

    What I am looking for is someone who can provide actual numbers so I can make a better decision as opposed to "I think" or "I heard".

    Likewise, if someone has the numbers for a similarly priced 2008 SEL, that would be even more helpful--except rebates $1000 not $2000.

    Thanks,
    Hal
  • hardhawkhardhawk Posts: 702
    I am going to be leasing a 2008 Edge Limited in a matter of days as my ordered Edge was shipped from the factory on 11/19. I have actual numbers for a FWD 2008 Edge Limited for a 36 month 36000 mile lease. They are 52% residual, 2% lease rate, $595 acquisition fee, X Plan cap cost less $1000 rebates. Is that specific enough for you? Why don't you ask the dealer for the numbers? You can get MSRP and invoice (w/o ad fees) from Edmunds as well as a link to a lease calculator to double check your dealer's numbers. The rebates vary depending on geographical area as does your local sales tax rate so the best source of information is your local dealer where you would actually be leasing the car. The residuals and lease interest rates vary by term and mileage on the leases. Get actual numbers from the dealer then bring them to this board for comment or to compare to what others are actually getting.
  • Hi,

    Can you guys help me in this as this is my 1st lease & hope it can help many new buyers.

    Here are the details of lease term

    2008 limited with :-

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

    TOTAL MSRP $33,225.00 ........I have not negotiated the price yet.

    Edmunds Invoice is $31000 on this.

    They will take $1000 off beacuse of ford lease offer prog.

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



    * $0 down.

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

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

    *50% Residual Value ( Can I negotiate here ? )

    *2% lease rate aka money factor

    M...Payment $489.18


    I am missing something & how can we get it better ?

    Thanks.
  • hardhawkhardhawk Posts: 702
    You can't negotiate the residual and the lease interest rate seems about right and not marked up. The only real place you have for negotiation is the cap cost and things like document fees and the like. Please keep in mind the invoice figure you have does not include local or regional advertising costs, so it is probably at least $400-$500 low. If you can get them to use invoice for the cap cost with you getting the $1000 incentives that is probably about as good as you are going to get. The lease I am going to be signing in the next day or two uses X-plan price for the cap cost, I get the rebates, and the residual and lease interest rate are all as per Ford's rates and not marked up by the dealer. I am happy with that deal.
  • hdutyhduty Posts: 5
    Hi,

    I'm trying to negotiate a lease on a 2008 Edge SEL AWD and this is the deal the dealer has presented:

    MSRP - 33685
    Selling Price - 31876.95
    Rebate - 1000
    Down Payment - 2500
    Residual - 16,505.65 (49% 39 month lease, 15K miles)
    APR 2.5%
    "Startup" costs - 747.89
    Monthly Payment zero down 459.45
    Monthly Payment with 2500 down 388.78

    The math more or less adds up. Howeever, a couple things don't seem right. For one, the residual. I'm seeing posting on here of 50 to 52%, what's with 49%? Second, isn't Ford offering 2% financing one a 36 month lease? And what's with the 39 month lease? Warranty is only 36 months. Last, what is the $747.89 "Startup" cost.

    Is there something I'm missing?
    Thanks
  • hardhawkhardhawk Posts: 702
    Your residual is lower because you want a 15000 mile per year lease. $595 of the startup cost is the acquisition fee.
  • Thanks hardhawk :)

    So I should expect round about $500 over edmunds invoice ?

    I know about the X plan but In your opinion what will be the

    difference between X-plan & edmunds invoice price.

    Thanks!
  • hardhawkhardhawk Posts: 702
    The advertising fees are different from region to region and/or if the dealer is in a city with a local ad group. I am in a rural area and the ad fees here are a little over $400 as we only have a regional ad group. My ordered Edge arrived yesterday so we should be picking it up today. My dealer will show me the x-plan price on the invoice so I have not seen that yet. I will post my final numbers after the deal is done. One of the nasty things here is that our sales tax is over 8% and we pay it on every lease payment.
  • Congratz on new edge hardhawk

    I hope to join the family soon. Please do post the info after you get the deal done.

    I am also trying to get my deal done within next 2 days.

    Damn that 8% on every lease payment. :mad:

    Thanks again
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