Howdy, Stranger!

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





Ford Edge Lease Questions

1568101127

Comments

  • chuck68516chuck68516 Posts: 195
    You are definitely right about pushing for a lower sale price. Even X-Plan is way lower than this. My dealer just quoted me by email at almost $3100 off MSRP with acquisition included, so really almost $3700 off.

    Your numbers don't really add up though. Are you paying sales tax upfront?? That's weird. Usually sales tax is paid on your monthly payment. Is that a state requirement or are they trying to mess with you a little?

    I'm coming up with a monthly payment of $418.92 even paying the taxes up front. Strange. Are you not getting the 0.75%
  • Please do me a favor and make some sense out of the last offer made to me.

    SEL (moonroof, chrome wheels etc..)
    Sale price - 32,205
    Invoice - 30,619

    36 months / 12,000 miles with the following due.
    with Drive off + cap reduction = $2980 down (first month payment included)

    49% residual
    Tier 1 qualifying at 1.00%
    with $1750 rebate/customer cash

    35 monthly payments at $349 + tax (8.25% - final monthly payment should total around $377.00).

    Chuck...anyone else with some good lease knowledge. With that money down, it does not appear to be a good monthly payment. Note: also attempted to contact Woodhouse Ford. In over a week, they only responded once. Have not been able to make contact with them.
  • Chuck:

    Thanks for your thoughtful reply.

    The rate I was quoted is 1%. Perhaps the quarter point accounts for the $6 difference in your numbers.

    I'm not paying the sales tax upfront. It is added on as part of the adjusted cap cost.

    They are quoting me a selling price that is $1875 below MSRP and $463 above Edmonds invoice. When you add in the rebate ($1750) the discount from MSRP totals $3,625.

    Does the $3,100 - $3,700 discount you are receiving before or after the rebate?

    Anyone else want to add their $0.02? I'd be especially interested in a word from Car Man (and others) saying "Based upon the data you have provided you should be able to wrest a few concessions and dollars as follows....Offer XXX and let them come to you"
  • chuck68516chuck68516 Posts: 195
    No, I didn't mean you were paying the sales tax out of pocket. I just don't get how they got that number (sales tax: $809.71) It's not 5% of the sales price, not 5% of the net cap minus residual. It's not 5% of your monthly payment. I don't get it.

    The about $3,100 was before rebate but included acq fee. He quoted me a rebate of $1,250. So, really total it would be NEARLY $5,000 off sticker. ($3,100 sale price, $1,250 rebate, $595 acq fee included). If you can qualify for the additional $500 rebate it would be almost $5,500 OFF STICKER with no out of pocket.

    I was inquiring about this quote for elliemaej. If you are interested, the dealer is Woodhouse Ford in Blair, NE. They said they could deliver a car for $0.30 per mile both ways. I got my Edge from them in April and immediately was quoted by email a little over $28,800 on an MSRP of $32,690.

    I just don't get how some of your dealers are still not even giving invoice prices on these 2007's. It's like they want to keep them forever.
  • chuck68516chuck68516 Posts: 195
    FYI if you could get the above deal your payment would be about $345 per month.
  • chuck68516chuck68516 Posts: 195
    Sorry, the above FYI was intended for shite4brains.
  • chuck68516chuck68516 Posts: 195
    LEASERBUY--
    I think if you're tier 1 you should be getting 0.75%. Also, you didn't give MSRP so it is impossible for anyone to comment on your deal. You need the MSRP to calculate the lease. I will say that you are putting way too much down. You should be able to get a payment of $377 with nothing down.
  • My mistake, I listed the MSRP as the sale price.
  • svofan2svofan2 Posts: 440
    ..one should be about the lease numbers even if I go with an X- Plan selling figure?....is there still room for someone to take advantage of me?...at the dealer of course
  • chuck68516chuck68516 Posts: 195
    You should be able to get X-Plan on your 2008 which would be okay. You can still get taken on the rent charge and fees.

    The X-Plan just guarantees a certain discounted sale price.
    It doesn't shield you from any of their money grubbing tactics.
  • chuck68516chuck68516 Posts: 195
    Here's what we would need to calculate your payment for you.
    It can't be calculated on "OUT OF POCKET" or "TOTAL DOWN

    NEGOTIATED PRICE: The agreed upon sale price of the vehicle
    NET CAP COST: Sale price minus rebates, minus down payment, plus the acquistion fees, other fees. DON'T INCLUDE YOUR FIRST MONTHLY PAYMENT HERE

    Also check your actual residual price. Make sure they are actually giving you 49% or whatever the contract says.
    They could quote you 49% then put a number below that in the contract.

    It doesn't matter what invoice is. I said in a previous post that I couldn't believe people were still paying over invoice. I was just saying that would be a starting point at negotiations. I would expect you could do way better than that. My dealer said $5,000 off sticker, I don't see why most dealers couldn't at least come close to that.
  • Chuck:

    You're a great American. Your advice and insight is truly appreciated. I'm in Maine so I don't think the Nebraska deal is going to makes sense at $0.30 per mile. Still, there are at least 30 2007 Edge's within 100 miles of me. I'm very flexible about color and options. I'm going to grind on a few people and push for a better deal. With the economy in turmoil, the market on the skids, credit getting tighter and the 2008s in the pipeline, I gotta think as the end of the month draws near somebody is going to want move some metal off the lot and come down in price along the lines you have described. I'll keep you apprised. Thanks again.
  • hardhawkhardhawk Posts: 702
    Chuck:

    What is your dealer doing on Expedition leases? I have a 5000# boat to tow and the Edge won't pull it. Eddie Bauer regular length Expedition would fit the bill nicely. I am in SE KS so Blair, NE is not that much of a strect for me.
  • chuck68516chuck68516 Posts: 195
    You are right. Just keep pressure on them, they have to bend/break eventually.
  • chuck68516chuck68516 Posts: 195
    I'm not sure about the Expeditions. The website says they have 26. www.woodhouse.com When I got my Edge and checked on one for ellimaej I just went to their website and found a vehicle and clicked the contact us button. They responded to me the next day with an incredible offer. They don't mess around. If you don't get a response right away, don't be surprised. The dealership is a madhouse due to the fact that they sell so many cars. The salesmen I talked to both said they can normally only get to their email twice per day. I would like to think that they would give you the best deal you can get.
  • hardhawkhardhawk Posts: 702
    I will check it out. Thanks!
  • I do not know anyone employed by Ford.How can I obtain the X-plan? Thanks for your help.
  • chuck68516chuck68516 Posts: 195
    If you go to google and search X-Plan PARTNER CODE you will easily turn up a PARTNER CODE. PARTNER CODE is a 5 digit code that is used to initially log in and generate an X-Plan pin number. Go to www.fordpartner.com and use the PARTNER CODE you found to log in and generate your pin number. Are you supposed to actually be employed by, or belong to an organization that gave you the partner code, YES. Do they check, MAYBE THEY DO, BUT PROBABLY NOT. The reason they don't check is that 99% of the time they probably don't actually have you use your X-Plan pin number. They will simply give you what the X-Plan price would be. Reason being, they are actually SAVING MONEY by allowing you to use X-Plan pricing that you don't actually qualify for rather than giving you an honest market value discount. If you are using an X-Plan on a brand new 2008 it may be a decent deal. If you are using it on a 2007 that has been sitting there collecting dust for 10-12 months, they are definitely taking advantage of you.
  • Thanks for your help. I located a code, and as long as I dont have to prove employment.....I want a 2007 an EB or Limited.I am in Miami and the best offer I found was:EB-$28,300,plus running-$695,navi-$2505,pedals $150,roof rails-$95,sirius-$195 and Dest.-$695.Total $32,635.I was quoted $27,493.00 plus tax,title. I think that this car has been there awhile because the destination charge is $695 and not $735. According to Edmunds-invoice is $30,147 and rebates are $3007 =$27,140. The dealer is $353 over invoice. What should I aim for? Would using X Plan be better?
  • chuck68516chuck68516 Posts: 195
    Are you talking about an Explorer or Expedition? What dealer are you looking at?
  • Chuck-
    I was talking about an Explorer. I did not do any better on the Mountaineer. The Mercury dealers want to give only $1200 off MSRP plus the rebate. For 2007 vehicles, this seems crazy. I am trying to buy one of them for the least amount possible but I am having trouble. I spoke with several dealers in my area (miami).
    Thanks
  • chuck68516chuck68516 Posts: 195
    Are you buying or leasing? The lease cash on the Explorer right now is $3,000 OFF.

    I don't understand why some of these dealers aren't willing to make any good deals. You know they are desperate to get rid of the 2007's. On those huge selling vehicles like the Explorer, if they have 20 of them still on the lot in August, you are looking at getting a minimum of 1/3 off sticker (including rebates). If it's $30,000 expect to pay about $20,000.

    For example, when my wife and I bought our 2003 Explorer, we paid $18,600 for a vehicle that MSRP'd at just over $30,000.

    How are you approaching these salesmen? I always use the "I'm trying to decide between this and the (insert biggest competitor here)". If you're like me and you have multiple Ford dealers in your city, try the "So and so (dealer) told me they would do this deal." IT WORKS EVERY TIME. Worst case scenario you tell them they are INSANE and leave and they call you tomorrow begging you to come back in.
  • **1/3 off MSRP!! Do I then add destination? These dealers want fees too!! I would prefer to lease but residuals cause the leases to be high, so I could buy if price is better. Sawgrass Ford has 33 Explorers---13 EB and 6 Limiteds. Maroone Margate has 6 EB and 4 Limits. World Ford has equally as many. I have spoken to these people several times and have gotten nowhere. I would love to buy a Limited w/power running boards etc for 1/3 off MSRP. I cant seem to get these people moving. What do you suggest?
  • chuck68516chuck68516 Posts: 195
    I'm not saying you can necessarily get it for 1/3 off MSRP in your area. I am saying that is what I have done here. I also negotiated my F-150 lease from $26,840 down to $18,000.

    You are looking at getting a 2007, the vehicle has depreciated for 12 months. If your dealers won't negotiate price, wait for a 2008 and use the X-Plan. DO NOT BUY A 2007 FOR $1200 OFF MSRP. If you do you will go upside down on your loan.

    Offer them $20,000 and see what happens. What's the worst that could happen, they laugh. At least then they will counter offer.

    When we traded in our Explorer for our Hummer we only came out ahead by $1,200. AND WE BOUGHT IT FOR $18,600. A DISCOUNT OF $12,000!!!!!!!!!!!!!!!!!!!!
  • Does anyone have an idea of what the 2008 residuals will be?
  • svofan2svofan2 Posts: 440
    Chuck, I am surprise that they didn't just give the Hummer....practically nobody wnats them because of the bad gas mileage...right?
  • chuck68516chuck68516 Posts: 195
    Wrong. Look at some facts.

    The 2006 H3 gets 16 City 19 Hwy.
    2007 Explorer 13 City 18 Hwy.
    2005 Expedition 13 City 18 Hwy.

    Practically everyone I come across says the same thing. "YOU MUST HATE THE GAS MILEAGE." Ummm...NO I DON'T. It actually gets ABOVE average gas mileage for it's class. I love it.
  • chuck68516chuck68516 Posts: 195
    Also, it didn't have anything to do with the demand for Hummer H3's. It had to do with the crappy trade-in value on the Explorer. They gave me Kelly Blue Book trade-in value. Unfortunately, I owed only $1,200 less. My point was, if you are paying near MSRP on an Explorer, you are going to take a huge loss when you go to trade it in.

    I got $12,000 off, and only came out ahead $1,200 on Kelly Blue Book trade-in value. If I would have only gotten $2,000 off MSRP I would have been WAY IN THE HOLE on my loan.
  • Chuck,

    From previous posts, I have tried to include as much info as possible.
    MSRP - 30265
    Sale Price - 29765
    - 1750 rebate
    = 28015

    Residual is 49% with a guaranteed future value of 14830 at the end of the lease.
    The money factor is 1.25 (??)
    $375.80 + tax (8.25) for 39 months and 12,000 miles.

    The numbers do not add up. Do you have any suggestions? or do you have a specific contact with the dealership you received such a good deal from?
  • Above is for a SEL with leather and the trimmings
1568101127
This discussion has been closed.