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Ford Edge Lease Questions

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Comments

  • 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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  • 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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  • 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.
  • tkschlegtkschleg Posts: 1
    Hey Car man,
    I'm turning in a Volvo lease on Aug. 23 and looking to lease a Ford Edge Limited in Dupage county, IL. One dealer told me that he is hearing rumors that Ford Credit will change their residual's due to the recent losses reported and the fact that Chrysler is getting out of the leasing business. He said it could save me about $100.00 per month if I sign before Aug.1.

    Do you know how often Ford updates the residuals or money factors? Is it set every month at the first of the month?

    Is this high pressure sales to get the sale in by the end of the month or is there some truth to it since Ford Credit lost $2 Billion?

    Thanks,
  • eshaneeshane Posts: 1
    in Miami, FL 15k/36mo 0 down plus plus paying my last two lease payments on acura 463/mo... msrp is 31,385...dealer offer is 479/mo all in...is this a good deal? if not, what is the ballpark i should be looking at? Thank you for your assistance!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi tkschleg. Even though Chrysler completely stopped leasing and General Motors' lease program is much worse this month, I believe that Ford's August lease program is the same as it was in July. It is possible that Ford might reduce its lease support after its current program ends on September 2nd, but I haven't heard any rumors to that effect yet. It sounds more like the dealer was trying to create a false sense of urgency to get you to finalize your deal ASAP.

    Car_man
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  • Just leased an Edge limited (FWD) 2008 -- Here is my deal, hope it helps.

    MSRP: 36,620 (Nav, Pan roof, everything but AWD)
    Sell Price: 29,999 (includes 2k factory loyalty)
    Residual = 56% (24mos)
    Money factor = .0003 (.75%)
    $300 down + drive off costs (the 300 down payment was to come off drive off but they screwed up the paper work -- no big deal)
    Base payment = $398.14

    I'm in Massachusetts so I'll have to add 5% sales tax and excise tax for a total payment of $439.00

    Good luck.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks for taking the time to give back and share the details of your deal, ihatedealers. Hopefully you didn't hate your dealer experience too much :). Don't forget to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new Edge :shades: .

    Car_man
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  • Thank you for the reply Car Man -- great website!
    I should explain why I am "Ihatedealers" -- I went to 3 different Ford dealers for quotes on the exact same MSRP/Equip Edge. I was quoted 3 different residual values ranging from 52% to 56% (24mo 10.5k) -- all in the same month within 4 days of each other. This website helped me determine the ballpark residual. I went with the dealer that gave me the highest. Anything under the true residual factor goes in the dealer's pocket. I hate the fact that they will look you in the eyes and LIE.

    If you are going to buy / lease a car -- this website is a MUST!

    PS - I still think I left money on the table.
  • You're very welcome. I'm glad that you like the forums so much. I'm not sure why these dealers quoted you different residual values for the vehicle that you are interested in. Unlike money factors and lease rates which dealers are often allowed to mark up, dealers are not allowed to alter vehicles' residual values. Perhaps there was some confusion surrounding the terms of the lease that you were interested in or the trim level of the vehicle that you wanted. Either way, I'm glad that everything worked out well for you.

    Car_man
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  • I am looking at an '08 Edge Limited, 13500k miles, 36 month lease....looking for a ballpark as to whether the dealer is full of 'you know what'. Here is what he sent me via email....any opinions would be GREATLY appreciated. My current lease is due and I really need a new vehicle. I like the Edge but I don't want to be taken. Thanks in advance!

    Selling price: z-plan 30635.65
    Residule:43%
    Money factor: .25%
    Rebates: 1250+500=1750total
    The payment came out to 445 per month and a total out of pocket of 550.
    The mileage is 13500 per year for 36 months.
    Be careful because most of the other dealerships in the area are going
    with out side banks that charge disposition fees and other fees to lure
    you in and also pick apart you at termination. The normal disposition
    fee is around 500. at lease end.
    Our lease is a ford red carpet lease no hidden extras!!!!
  • I'm trying to find the Residual, Money Factor, and any applicable rebates for the 08 and 09 Edge SEL or Limited. I live in Dallas, TX currently, and can't seem to find these numbers anywhere online...or I'm just looking in the wrong location (most likely the case!)

    Thanks!
  • Hi morriru. You've come to the right place. Through November 18th, Ford Credit's base lease rate and residual value for a 36 month lease of a 2009 Ford Edge SEL 2WD with 15,000 miles per year are 1.25% and 45%, respectively in most areas. I believe that he numbers for an otherwise identical lease of an '08 Edge are 0.25% and 41%.

    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.

    I don't believe that Ford is currently providing any cash incentives on leases of the '09 Edge in your area, but it does have $4,000 on the '08 Edge in its Southwest region (I believe that is where Dallas resides).

    Car_man
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This discussion has been closed.