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Ford Edge Lease Questions

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Comments

  • elliemaejelliemaej Posts: 46
    I'm looking for an SEL +, FWD, BAMR, Sirius & Reverse sensing system. I am partial to the Creme Brulee (or other light color) but I know that I may not have to luxury of being too picky. I have access to the Ford Direct for X-plan but I do not think the dealer inventory is up to date.
    I checked against my local dealers and the Ford site show many more than the dealer actually had on site.
    Also, you can only search 5 or 6 dealers at a time and you have to enter new zip code. Kind of a pain...
  • hardhawkhardhawk Posts: 702
    You are correct about the Ford inventory search process being a pain. Check out zip code 67301. My dealer has a very well equipped Dune Pearl Edge with all the toys. Don't know where you live so it might be too far to travel to get it if it met your needs. The Chrysler/Dodge inventory search gives you they option of plugging in a search by city/state, so that helps a lot.
  • hardhawkhardhawk Posts: 702
    We will see what August brings on the interest rate front. The last month of a quarter is usually when the best deals are offered to get quarterly sales numbers up. December, March and June usually have great deals, with August and September good for end of model year deals.
  • elliemaejelliemaej Posts: 46
    Thanks for the info Hardhawk.... I live in CT, KS is a little far to go for a car. Hopefully my dealer will find something for me. Otherwise, I may have to wait for the '08.
    Since my lease is up at the end of Sept, I may have to look at alternative transportation for the short term.
  • timber02timber02 Posts: 1
    We've been quoted a price of 30,996 on a 2007 sel+ with AWD. The car has the panoramic roof, 18"wheels, reverse sensing system, sirius, and audophile cd. The MSRP is 34,010. This price includes the 1,000 cash back. If we were to lease, does the 1250 RCL apply? Any idea what the interest rate, residual would be for a 15,000/36 lease? Do you think we can do better on the price? I am looking to close the deal in the next day or so, so all advice is greatly appreciated!
  • hardhawkhardhawk Posts: 702
    Sorry you are so far away! It might be possible to extend your current lease for a month or two if you have ordered a 2008 and it is not in yet. One great thing about ordering is that you get exactly what you want. I am looking at several different vehicles and if I can't find a 2007 like I want, I will probably order a 2008. My dealer has offered to order me one each of the different vehicles I am considering and then I can pick the one I want and he will keep the others for stock. I may take them up on that. My current lease expires in October but the dealer wants my current car so said early termination of the lease will be no problem if I find a 2007 that works. If I order a 2008 I will wait to time it to arrive in early December as the best lease deals for the new models seem to start in December. I have another car I can drive if I have a gap period.
  • elliemaejelliemaej Posts: 46
    Can someone check my figures for this 24 month 12k miles AWD lease. I've tried to follow the formulas but I want to double check before my dealer gives me his numbers.
    I used 63% residual and .75 money factor.
    Please let me know what you think.
    AWD
    msrp 33665.00
    xplan 31908.00
    rebate 1750.00
    cap cost 30158.00
    residual 21208.95
    rent 372.88
    int 15.92
    tax 23.33
    total 412.13
  • chuck68516chuck68516 Posts: 195
    I don't get why people are still just getting x-plan discount. I leased my Edge in April and got way under x-plan. IT'S AUGUST 1st!!!!!!!!!!! They are giving away cars now, the Edge is no exception. You can get them to do X-plan when the car is brand new. The Edge has been sitting on lots for 8 or 9 months!!! If you look at the GM supplier discount which is GM's version of the X-Plan, it says something in the fine print about not being effective after March. Meaning after the cars have been collecting dust on the lot for 7 months, they will give you a way better discount than "X-Plan."
  • Chuck, While I appreciate your comments, I was hoping to get replies regrading my calculations. The quotes I am getting are over $50 a month higher than my calcs and would like to know if I am doing something wrong.
    Can anyone help??
  • hardhawkhardhawk Posts: 702
    I would ask the dealer to break down the components of the quote. Cap cost, fees, residual, interest rate, etc. Make them show you how they arrived at that figure! They will do it and they will know you are serious and checking the figures. I always ask for the components and then run my own number. I even show them my calculations and ask them to explain the difference. One time I had forgotten the acquisition fee in my calculations. In KS, you pay sales tax on each payment, so if that is true where you are, be sure to include your sales tax rate into the lease calculator you are using. Hope this helps!
  • Ik, here is the breakout that I got from my dealer... He is off today and I cannot get answers to how they derived at these numbers. When I build this exact car on Ford's site, 24 months/12k miles, I get a monthy cost of 399 (before taxes.This isnt even in the ballpark of what line of bull they are giving me... Please look at the "quote worksheet" numbers for me and let me know what you think!
    Thanks
    Ellen
    1 date 20-Jul
    2 date 19-Aug
    3 lease Inst. RCL
    4 MSRP 34360
    5 Selling Price 33395
    6 Aftersale 179
    7 Capped fees 595
    8 Serv cont 0
    9 Wear Care 0
    10 Cas Cap Reduc 0
    11 Rebate 1750
    12 AdjCapCost-CL/AH 31419
    13 AL/AH Code no
    14 CL prem 0
    15 AH Prem 0
    16 taxes 895.72
    17 apr 1.00%
    18 term 24
    19 Aftersale 0
    20 residual 63%
    21 prepaid mileage 0
    22 residual 21646.8
    22a base payment 471.16
    23 local tx .10% 33.4
    24 tax rate 6% 30.27
    25 Monthly Payment 524.83
    26 one pay amt 0
    27 Amt due at start 1184.67
    28 Security Dep 0
    29 Upfront Fee 349
    30 Upfront Fee 165
    31 cust cash 0
    32 cashUse/Surplus -1184.67
  • hardhawkhardhawk Posts: 702
    The sales price is too high. Should be no higher than invoice in August with 2008's coming out next month. The $179 "aftersale" is a big ?? to me. The capped fee appears to be the acquisition fee. The taxes of $895.72 are a ?? to me. In KS, sales tax is only on the payments, which seems to be added here down below the payments. Property tax here is paid when you get your tag, not to the dealer. The two upfront fees are ??? as is the cash use/surplus of $-1184.67, which seems really ??? Are you upside down in a trade in? I would demand an explanation of every number on the printout or look for another dealer. There are way to many ??? there for me. I think you are being taken to the cleaners. But that is just my opinion.
  • chuck68516chuck68516 Posts: 195
    Just tell your salesman that you are going to go somewhere else. Go in and tell him you were looking at a payment of about $400 per month. If he can't do it walk and be sure and say "I'm going to the other Ford dealer." They prey upon people's "have to have" attitude. You are doing him a favor by taking an Edge off his hands, not the other way around.
  • Thanks!! I am going to call my salesman today. I will have him explain every number. I thought the selling price was high also but they throw so many numbers at you, it gets confusing. I am not trading in anything. I am turning in my lease after my last payment. Does the fact that he has to locate the vehicle do anything to the numbers? They never mentioned that it would cost more to locate the car (they only have 2 left on their lot). As for local taxes, in our state, we pay property taxes once a year. With Chrysler, they rebilled me, Ford adds it to the lease payment.
    I will give you guys an update after my call.
  • Ok, just got off the phone with the Salesman. The reason the selling price was so high, he was rolling in my last 2 lease payments. Once he took that out it was back to the X-plan price. I got explainations of the other charges, it got alot better.
    The 179 was for etching. I told him no. 595 was acquisition, 349 was conveyance, and the 165 is motor vehicle (I cannot transfer my plates). 1131 @ signing (3 numbers above), my payment will be 463. 404 base + 26 state tax + 33 prop tax. It is more than I want to spend but actually lower than I was prepared to pay.
    Does this sound reasonable to everyone else?
    Now hopefully he can find me a nice Creme Brulee,AWD, BAMR, Reverse Sensing & Sirius. Unfortunately, I will probably have to do some give and take to get what I want.
    The car quoted was not available but it also had the 750 tires and towing package. I do not need or want either of these. So if I am lucky enough to get one without these, the price will come down.
    Wish me luck!
  • chuck68516chuck68516 Posts: 195
    The only required "FEE" is the acquisition fee. The "etching", documentation, etc. are all just ploys by the dealer to make more money on the lease. Ford only requires the acquisition fee. The other ones are all negotiable.
  • svofan2svofan2 Posts: 440
    Wouldn't you be better of waiting a amonth or so and try to get an 08..better yet order an 08 so it may come closer to the end of your current leaseand most important with what you really want?....Ford has a forgives plan right now until the end of August for 3 months of lease payments...unless your lease is with other mnfctrer...good luck....too bad you don't have a x plan id number becuas eif you did you will not pay for anything extra like doc fees etc...
  • chuck68516chuck68516 Posts: 195
    You don't have to have an X-Plan pin number. You just have to find an honest dealer that will not try to screw you. Or more likely, find a dealer who isn't honest and tell him you aren't paying all those stupid fees.
  • Svofan...I do have X-plan. The selling price is the X-plan price. My current lease is with Chrysler, so the forgiveness wont work. Do you have something that says that if you are x-plan you do not have to pay doc fees?? I would love to have that go away.
    As for the '08, I will be out of my lease before the '08s come out. Right now there are rebates that I'm sure wont be available on the early '08s as well as the lease money rates.
  • chuck68516chuck68516 Posts: 195
    I don't know if I can say this any more clearly, but I will try. Your dealer is trying to screw you. All those fees are made up. Only the acquisition fee is legitimate. YOU DON'T HAVE TO PAY ANY OF THEM. Get a backbone and say "I AM NOT GOING TO PAY ANY OF THOSE FEES." If they don't go for it go somewhere that will. Also, as I said earlier, to be getting only X-Plan as the "sale" price is OUTRAGEOUS. You can get X-Plan the day the vehicle arrives. They need to come WAY down on that price. If they do not, GO SOMEWHERE THAT WILL. I have bought 6 Ford vehicles and never, ever, ever, even came close to only getting X-Plan. That is the only reason to buy a Ford is that you can get HUGE discounts. It's AUGUST. They have to start making room for the new 2008 models. They are suckering you. At least call some other dealers and tell them about the deal this dealer is offering you. ANY dealer you call will be able to beat it EASILY because it is a terrible deal.

    The reason I know this is because 4 MONTHS AGO I leased an Edge SEL+ Vista, Chrome, reverse sensing, MSRP $32,690 for 36 months with ZERO DOWN, only first payment due at signing FOR $349 PER MONTH tax included. It is possible!!!!!!!!!!!!
  • hardhawkhardhawk Posts: 702
    If the deal you are being offered is the best the dealer will do, and other dealers are not willing to do better, then I would ask a number of dealers in your area if they would order a 2008 Edge per your specifications, without you being bound to buy it. What you want is a popular model/options/color combo, so it would not be hard to sell if you don't lease it. You could then see what interest rates, etc. will be available when it comes in. You could extend your current lease by a month or two without any problem to give you breathing room and take the urgency out of your situation. My Magnum lease ends in Oct. and I still don't know what I am going to do. My dealer has offered to order any models I want just like I want them, and then I can pick which one I want to lease. I am also looking at 2007 leftovers in larger SUV's since they are having huge lease cash and bonus cash added right now. I love the Edge/MKX, but also like the MKZ, Aspen, Durango, and Expedition. It is great having so many choices. The Edge has had cheap lease interest rates for months, so my guess is that that will continue for the 2008 models. Ususally no later than December the great deals will start being offered on the 2008's. If you must act now, you might try to find out what dealer the Edge you want is located at and contact them directly to see what kind of deal they will give you. Good luck and keep us posted!
  • chuck68516 - Your entry on August 5, stated you leased Ford Edge four months ago for what appears to be a great deal. I'm currently working out the details of a lease.........is it possible to get a lead on the state and/or possible dealerships that offered you such a deal?

    Or anyone else for that matter....
  • chuck68516chuck68516 Posts: 195
    The dealer's name is Woodhouse Ford in Blair, Ne. Just outside of Omaha. They sell cars all over the U.S. becuase they can beat almost any deal. I think the salesman said they sold around 27,000 cars to EVERY state in the U.S. in 2005.

    My brother just bought a 2007 Chrysler from them and they didn't have what he wanted on the lot so they had to get one from Illinois. They drove 300 miles to his house to let him use one of their new Dodge Calibers as a rental car until his car could be transported to the lot (about 10 days). Then they still beat his local dealer's best price by $1200. They are amazing. I will be leasing/buying from them forever.
  • In some states/cities it can be a benefit.

    I'm in Northern Virginia. In Virginia, Ford state-averages the property tax and you pay an average of all the counties. If you live in a high-cost area, such as Fairfax, it can be a benefit.

    Ford may do this in other states but I'm not sure.

    -Larry
  • Picked up a 2007 Edge SEL Plus AWD in Light Sage. ALL options except for the BAMR (I'm 6'4" tall, and the mechanics take up too much headroom...):

    Sticker Price: $35,455.
    Sale Price: $33,991 ($500 over Invoice).

    Down Payment: $7700
    Rebate: $1250

    36 months/10.5k miles.

    Residual Rate: 53%
    Residual: $18796.45.

    Monthly Payment: $324.52. Includes all taxes, fee's and property tax payments.

    I know that's a large down payment but folks, I've done the $450 to $500 payment thing and I was on pins and needles the entire contract. I'm just not going to do that to myself any more. It's a comfort thing :)

    -Larry
  • My dealer is having a real hard time locating the combo that I want. I have compromised on the FWD vs AWD, now I am not going to get my 1st or 2nd choice of colors. At this point I may be better off extending my current lease and order an '08. I'm assuming that I will loose the incentive cash but does anyone have any ideas of what the residuals and money factors will look like. If I order what I really want, it will definately lower the MSRP but if I lose the $1750 and the good money factor, it may end up costing me more. Any ideas??
  • chuck68516chuck68516 Posts: 195
    I'm not sure how much your property taxes are but unless they are $120 per month, you got taken on this deal. Your payment pre-property tax, should have been about $200 per month including sales tax. Your base payment before rent charge should be about $175 per month.

    You're right about your $7700 down payment being "large" but it is also not a very good idea. If you're car were to be totalled tomorrow, you would be out that $7700. The insurance company will not reimburse you for your down payment. Drive extremely defensively for the next 36 months. What fees or other charges did they put in the lease? Wear Care? Undercoat? Etc.
  • Can you break this down for me? I don't see how $200 a month figures... That's only $7200 in payments, not including any taxes at all.

    -Larry
  • chuck68516chuck68516 Posts: 195
    Consider expanding out your search area. Like I said in a previous post, my dealer sells cars to every state in the U.S. including Alaska and Hawaii. I'm not saying they are necessarily the answer but if you have driven the Edge and know what options you want on it any dealer should be able to easily locate an Edge and you could lease it over the phone/internet. Your dealer probably just wants you to buy the one sitting on their lot. They most likely aren't even trying to look for an Edge elsewhere.

    What options and colors do you want? I'm sure we would all be happy to look/search around for you.
  • chuck68516chuck68516 Posts: 195
    You said the sales price was $33,991
    Rebates $ 1,250
    Down Payment $ 7,700

    Base payment
    (pre-rent charge,taxes) $25,041 minus residual of $18796.45 equals $6244.55 divided by term (36) = $173.46 BASE PAYMENT PER MONTH.

    I don't know your rent charge or sales tax or property tax but my base payment on my lease of ZERO DOWN, 36 month, 10,500 miles per year on MSRP $32,690 was $326.17 and my sales tax was $22.83 with a total payment of $349.

    So with the limited info you gave I am estimating your monthly payment should be under $200. AGAIN, DEPENDING ON YOUR PROPERTY TAX. But there is no way your property tax is $120 per month.
This discussion has been closed.