Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Ford Edge Lease Questions

1181921232440

Comments

  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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: 38,518
    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 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: 38,518
    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    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
    Host
    Prices Paid: Buying & Leasing Experiences Forum
Sign In or Register to comment.