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Ford Edge Lease Questions

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Comments

  • chuck68516chuck68516 Posts: 195
    I was messing around yesterday and emailed my dealer inquiring about a Creme Brulee Edge they have and how much it would cost to have it delivered to Connecticut. Suprisingly, it was only $0.30 per mile (both ways). So you can really start branching out on your search. Even if you were to have one delivered from my dealer in Blair, Nebraska, you would only be paying $790.

    Also, just to let you know, his FIRST OFFER WAS OVER $3,000 OFF MSRP. Who knows what it would be if I would have haggled.

    X-Plan would be less than $2,000 off.

    Just a thought.
  • Thanks Chuck... I looked at their site the other day and have an email out to the internet sales guy. Unfortunately the only Creme Brulees listed on their site do not have the Vista Roof. But I will take your advice and keep looking. I went to my dealer today and I'm down to my last choice of colors (red). While I like the red, I drive a red car now and was hoping to make a change with the Edge. I brought up ordering an '08 but they told me it would take 10 - 12 weeks. They are bringing the red one for me to drive on Monday. I am going to see what they will do on the price. If they are not willing to drop it below x-plan, I think I'm gonna go elsewhere.
  • I live in Knoxville, TN and am looking to lease an SEL fwd with MSRP of 30,195 that they will have delivered from Atlanta. I have no trade and will receive the .75% apr. I am dealing with Ray Viles Ford at zip 37705. I feel like I'm being Jacked around because they are telling me for 36 mo. 15,000 miles that I would have to put down $1,000 to be at $485mo. I have tried to calculate this myself with no fees while receiving the #1,250rebate and adding the $595. Can someone break this down for me and help me with where I should be at. I dont want to put any money down except first payment and taxes..
  • chuck68516chuck68516 Posts: 195
    Hi,

    It's not as hard as it seems, once you do it a few times anyway. Here's the breakdown on the info you provided. It literally takes me 2 minutes to figure.

    There are 3 parts to calculating a lease. You calculate them then add them together to get your payment.

    1. Depreciation Fee = ( Net Cap Cost – Residual ) ÷ Term
    After your rebates, down payment, adding in acquisition
    fee the figures are as follows:
    ($28,540 minus $14795, i.e. 49%) divided by term (36)=
    the monthly depreciation fee of $381.79

    2. Finance Fee = ( Net Cap Cost + Residual ) × Money Factor
    You stated you would get the best lease rate currently
    available at 0.75% APR. You have to break that down to
    money factor for the calculation. To do this divide
    0.75 by 2400 = 0.0003125
    So...($28,540 plus $14795.55 = $43335.55 multiply by
    0.0003125 = the monthly finance fee of $13.54

    3. Add the two figures together = $395.33
    Step 3 also involves adding in your sales tax, which you
    didn't provide. I will guess 9.25%. So, $395.33 plus
    9.25% = YOUR MONTHLY PAYMENT OF $404.58

    I am assuming that by MSRP you meant sticker price and not the price they agreed to sell it to you for. That is a very important distinction and will make all these numbers useless. I also guessed the current residual is still 49% on the FWD 36 month 15,000. It may be more or less, check your dealer's number.

    Depending on your state laws, you may have DMV or property taxes added in there also. I don't know how every state works. But I would definitely ask your dealer what other fees they are adding in and for a complete breakdown of how they got their number. If they are adding in Wear Care (security deposit) I would definitely waive it, it's not required. It is a dealer scam to make more money on the lease. Any document fee, or similar I would also decline. The only legitimate fee is the acquisition fee of $595 and perhaps your DMV, Property Tax.

    Also, why are you just getting MSRP minus the rebate? Negotiate down to at least invoice. It's August.
  • chuck68516chuck68516 Posts: 195
    Sounds like a good plan. The red was my second choice, I like my Blazing Copper the best. The Vista Roof is pretty much a unique selling point of the Edge. If you don't get it you might as well get a Nissan Murano or similar. I don't normally have mine all the way open but I like to have the sunshade open to get some light in. It's really great to go for a drive on a cool night. Keep looking. :D
  • I just got the latest quote from my dealer and he is tring to push a 1.5% APR on me. I believe that my credit score is high enough (almost 800) to be eligible for the lowest rates. Is it possible that they raised the rates recently?
    I am getting more and more frustrated with this guy.
  • Thanks for the info, I think they are just being tight asses over there.. I'm going to check out a few other dealers..
  • svofan2svofan2 Posts: 440
    ...i am planning on buying an 08 EDGE but delete the glass roof...maybe where you leave this is not a concern but for me here in NJ/NY area is a BIG concern. A couple of years ago while traveling with a friend (showing me his new EXPEDITION 03)on a relative "nice" area,when we went under an overpass someone threw a brick and it broke the glass and landed on my lap...maybe i am paranoid (if so...so be it...or maybe is my age) but I see no attraction on the glass roof as well as convertibles when you live in realtive proximity of urban areas...out in the beautiful country of course.
    I do see many other valuable easons on why to buy an EDGE but the roof I think could very low on must buyers...just my thoughts..and enjoy the Sun!!!
  • chuck68516chuck68516 Posts: 195
    What else really sets the Edge apart from the competition besides the Vista Roof? IT IS THE MAJOR SELLING POINT. GO TO THEIR WEBSITE AND SEE HOW MUCH THEY PROMOTE IT AS THE MAIN FEATURE OF THIS VEHICLE.

    I don't really see any reason to not get it aside from personal taste. But, I don't think living in a city makes a difference either way. By the way, I live in a city of 300,000+ people. Contrary to most NY/NJ peoples' way of thinking, Nebraska isn't a giant farm with 4 families like Little House On the Prarie.

    If you don't want the Vista Roof, fine. I was just giving my opinion on it SINCE I OWN ONE. If the Edge you get doesn't have the Vista Roof you will probably have at least one person per week ask you if it has "THAT GIANT SUNROOF THINGY" so you might as well get it.
  • chuck68516chuck68516 Posts: 195
    Sounds like they are trying to pull a fast one on you. I was under the impression that the current deals would not expire until 10/1/07. Also, I got the best rate at the time of 0.5% with a credit score of 780. Ford is very lax in their financing. I suspect you would have to have terrible credit to qualify at 1.5%. That's how they make their money. They either screw you on residual, financing or fees. Sometimes all of the above if you're not careful.
  • I had to pass on the vista roof. Like most cars with sunroof's, it takes up a few inches of headroom for the mechanicals.

    I'm 6'4", and I'm fine wihout the roof but with it I only had 1/2" of clearance, and that was with the seat tilted back a notch.

    -Larry
  • svofan2svofan2 Posts: 440
    ..boy!...you are really touchy about the BAMR (BIG A^& MOON ROOF).....besides caps indicate you are LOUD (yelling) about the roof,calm down.
    I only explain MY reason for not getting it.
    Besides, I never implied that people living in small cities in Nebraska (beautiful state)of 300,000 people are "a little house in the praire", but I can't be impressed.
    When one lives and works in an island (Manhattan) that sees 8,000,000 people everyday Monday to Friday and has witness and expirience many things that occur almost daily, things that the rest of the country only hear in the news.
    I see your point, maybe you can see mine....
  • chuck68516chuck68516 Posts: 195
    I wasn't being loud/angry. I use caps to make points. Like when I said "IT IS THE MAJOR SELLING POINT. GO TO THEIR WEBSITE AND SEE HOW MUCH THEY PROMOTE IT AS THE MAIN FEATURE OF THIS VEHICLE." What's angry/loud about that statement????? What do you find threatening about "THAT GIANT SUNROOF THINGY"????

    Again, I was just giving advice about the Edge SINCE I OWN ONE. Yes, you give up 2.2 inches of head room. But I am 6'4" tall and I have plenty of head room in my Vista equipped Edge. To each his own. I was just stating my opinion. You were the one who was all defensive about why you aren't getting one.
  • So, I left the dealer a message with my calculations vs. theirs. While I like the salesman, he doesnt deal with the numbers so he put the manager on the phone. I once again told him how I came up with my numbers. He agreed that the lease worksheet they use is very confusing (the funny thing is that I work for the company that runs their dealer services system but I dont work in that division). They just plug in the numbers and the worksheet does the rest.
    Anyway, the numbers look like this...
    24 months/ 12k miles
    MSRP - 34130
    Selling price - 32296
    residual (63%) 21501
    .75 APR
    acq fee & DMV fee - 795 (paying up front, my choice)
    lease payment of 450.
    base - 394
    prop tax - 32
    sales tax - 24.
  • svofan2svofan2 Posts: 440
    I understand you perfectly....I wish I lived in your beautiful state,but all I said is that when you travel in places like Manhattan and its surrounding areas where there are hundreds of overpasses and crazy people, you run a big chance of damage to the roof, like it happened to my friend and I (remember that?).
    I believe that there many good features about the EDGE BESIDES the wonderful moon roof......happy?...
  • chuck68516chuck68516 Posts: 195
    How much are you putting down?
  • chuck68516chuck68516 Posts: 195
    I think there are lots of great features on the Edge too. What I said was, "The Vista Roof is pretty much a unique selling point of the Edge." Meaning, other cars in it's class don't offer it and it is what the Edge is most known for.

    I didn't put that in caps so as not to offend you.

    I have been to Manhattan 4 times. I enjoyed every visit.

    I am sorry that there are idiots out there that do that stuff but it isn't an incident that only occurs in NY. Wherever there is a bridge, you will find idiots throwing stuff off from time to time. Last year a car was hit with a bowling ball through the windshield while going under an overpass on I-80 here.

    The lack of a sun roof didn't help that guy out as he died of blunt force trauma.

    If you are getting an Edge and don't get the Vista Roof you will probably regret it. Just like I regret not getting the Nav.
  • svofan2svofan2 Posts: 440
    .. I was not offended.....you appear to be a good person (guy/gal)....I do understand you...and about tha poor person..that incident could not be helped ...we all windshields on our cars....but not a need to have a full glass roof....I think after this small give and take you have almost convinced to order my 08 with a BAMR....and then travel to Nebraska and show off it to you...lol...
    ...afetrall nebraska is only 1200 mile from me and I have friend in Lincoln as well as a small town 30 miles west of Lincoln called Beaver Crossings...you see....I know people in the "little house on the praire"...lol....
  • chuck68516chuck68516 Posts: 195
    If you come here with your BAMR, i will reinforce mine with some armor plating and drive to Manhattan.
    :)
  • Chuck, I am paying first months payment plus the 795 (595 acq fee and 170 motor vehicle registration fee) up front. That was my choice. I prefer to not pay sales tax on these items. If they were included, my payment would go up $34/month. Why pay an extra $50 in sales tax (6% in Ct) if not needed. Plus I will put the out of pocket cost on my credit card and get the miles (of course, I will pay it off when the bill comes in)
  • svofan2svofan2 Posts: 440
    ...THAT is funny.....your silence indicated to me that you were surprise about my knowledge about Nebraska,right?...come on admited!...lol....what color you got and what euipment?...I promise not make any comments...so speak freely...lol
  • chuck68516chuck68516 Posts: 195
    Of course I knew you had been to Nebraska, you said it was a beautiful place. Ha, ha.
    Expect to see an armored Blazing Copper SEL+ with Vista, reverse sensing, 18" chrome, 6 disc MP3. Brick proof.
  • svofan2svofan2 Posts: 440
    Besides your infamous BAMR,how do yu like it and how many miles do you have?....what was your price before taxes etc...?....any issues with brakes?....a/c?....
  • chuck68516chuck68516 Posts: 195
    I'm not getting that calculation. If the net cap cost is
    $32,296 and residual is $21,501, your depreciation fee is $450 per month. Then add rent charge, $16,81, sales tax, $28. $32 property tax. Monthly payment is $526.60
  • Sorry, I forgot the $1750 rebate.
  • chuck68516chuck68516 Posts: 195
    Aaah yes the rebates, I forgot as well!
    You're right paying the $795 will save you $130 total over the lease. $39 per month by my calculations.

    I figured you were rounding numbers but here goes....

    DEPRECIATION = $376.88
    RENT CHARGE = $16.26
    BASE MONTHLY PAYMENT = $393.14
    SALES TAX WILL DEPEND ON CALCULATING IN PROPERTY TAX FIRST AND I DON'T KNOW HOW THEY DO THAT.

    IT ADDS UP!!!!!!!!!! FINALLY, THEY ARE MAKING SENSE!!!!!!!
  • chuck68516chuck68516 Posts: 195
    Just rolled over 2,800 miles on my way home from work today. My MSRP was $32,690 and I ended up getting a GREAT DEAL at about $28,000+ cap cost. I put nothing down on 36 month lease FWD 10,500 miles per year. I drove it to Okalhoma within 3 weeks of getting it and put 1,300 miles on it so that shows I pretty much keep it in town most of the time. I am around 700 miles under my limit so far. I am planning a trip to Austin, TX this October to watch The Huskers beat the Texas Longhorns. That will be around 2,500 miles or more round trip.

    No issues with brakes. I also didn't get the gripe about people not being able to close the lift gate due to it allegedly being too heavy. The brakes are better than my 2004 F-150 that I had before the Edge and the lift gate is easier to close than my 2003 Explorer my wife had before her H3. My only real complaint as of now is the dash being a little too reflective of light and not waiting for the 2008 to get the SYNC. Other than that I am happy. I get a lot of positive compliments. Plus, my wife wants to trade cars. She used to hate to drive my F-150. I told her I would think about it in a year or two.
  • chuck68516chuck68516 Posts: 195
    It still shocks me that they are only coming down $1,834.

    When I sent my dealer the email the other day he responded immediately at about $3,100 OFF MSRP and included acquisition fee in that so really almost $3,700 off MSRP.

    If you were going to go with my dealer's numbers your payment would be $355.84 per month (assuming your property tax is about 8%) on a vehicle MSRP of $33,775. And he only quoted me a rebate of $1,250 so if you could get the additional $500 these numbers would be less.

    Of course you would have to pay $800 to get the car delivered but that would be your only out of pocket ($800). So all in all that beats your dealer's price by around $100 per month and you would be out your down payment of $5 more dollars.

    MSRP: 33,775

    SALE PRICE: 30,688

    REBATE: 1,250

    RESIDUAL: 21,278.25

    ACQ FEE: already included

    TERM: 24 MONTHS

    MILES: 12,000 PER YEAR

    JUST AN FYI.
  • Thanks for the info and the confirmation Chuck. I looked at your dealer and unfortunately, he does not have a car with the options I need/want. Also in this area the pickings are getting very slim and my dealer had to locate this car 2 states away. I'm happy with the deal. Would I like to pay less, of course. I am only keeping it for 2 years (most likely less if they run pull back specials).
    I was toying with the idea of waiting on an '08 (really want sync and possibly the auto liftgate, my Pacifica has that and I like it) but I don't want to extend my current lease and without the rebate and low APR, I doubt it will be as affordable. I'll have to wait for an '09.
  • Any informed opinions of the following lease offer are appreciated. Terms are zero down and 36 mos/12,000.

    Edge SEL+ (roof, chrome wheels, audiophile, sat rad, tow, cargo mgmt)
    MSRP:$34,810
    Invoice $32,472
    Selling Price: $32,935

    Acquisition: $595
    Title: $23
    5% sales tax: $809.71
    Rebate: $1750.00

    Adjusted Cap Cost: $32,612
    Residual: 52%/$18,101.20
    Drive off/monthly = $424.00

    I'm of the mind that I should push for a selling price closer to invoice before the rebate is applied. Any suggestions?
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