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Ford Edge Lease Questions

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Comments

  • hardhawkhardhawk Member Posts: 702
    You can get the headrest DVD'S and the BAMR. Best of both worlds.
  • svofan2svofan2 Member Posts: 442
    Is that from factory or does it have to be aftermarket?....I would like that a lot but how much and where do you get it?...if it is aftermarket then one must be careful if you are leasing correct?...
  • hardhawkhardhawk Member Posts: 702
    The ones in the brochures appear to be a dealer installed option, but one that could be added before delivery and thus included in the base cap cost of the lease and be fully warranted. I have added dealer installed accessories to leases before. The key is to add them before delivery and the whole cost is written right into the lease. Of course, they stay with the car when it goes back, but that is not a problem. My kids have their own portable DVD's so I am not interested, but I would be if we didn't have them already. I want the BAMR and the headrest DVD is the only option for something built in that I am aware of.
  • svofan2svofan2 Member Posts: 442
    Yes,you are right,it does appear in brochures but the reality (at least in my area NJ) is that most dealer will install the head rest dvd by an outside shop(most dealer do not want to deal with this since they believe that there is not enough money in it). My opinio is that if it is not factory installed I stay away from any items,specially the ever popular remote start,boy have heard horror stories about them. For the dealer will reffered you to the local shop "that do all the work for them"ad it is guarantee!...yes bu THAT gealer if you have aproblem in FL and go to a Ford dealer they will tell you that if it did not come from factory they can not help you...too much headaches for me...and my grand daughter will be happy with her own dvd,which is the reason for me to have one in the car..thanks for your help
  • jwmjo1jwmjo1 Member Posts: 1
    I'm new to the whole leasing thing, and I'm really unsure of what I'm getting into. I am supposed to close tonight on a new base Edge SE with convience package and roof rails and sign a lease.

    I've been quoted the following:

    1250 cash down
    + my trade vehicle at $12000 (I owe 5600, and KBB says its trade in is 10,000)
    will give me a payment of $250 for 36 months / 36,000 miles
    with x-plan pricing

    My credit is less than great at 630 (I was told this matters for some kind of ford tiers or something)

    What should I look for before signing?

    Thanks for any help.
  • svofan2svofan2 Member Posts: 442
    I don't know if it is too late (youshould have found out before the last minute)but if you are not keeping the trade in money the deal stinks.
    Look $1250 + $6400 = $7650...that in my opinion and I don't know much is excessive to put down on a lease,specially on a vehicle that is at the end of the year 2007...what was the sticker price and what was the negotiated price before all this money came into play?.....there is a cash back from FORD I believe,don't remember how much...be careful and good luck to you
  • mkill2001mkill2001 Member Posts: 7
    I am about to lease a ford edge... what should i be paying per month for a base ford edge se... msrp @25,500... 15k miles per year.. 39 months... $4,000 down?? i have never leased before, so this is really confusing to me... with the specs above the best price I have received is $289 per month
  • svofan2svofan2 Member Posts: 442
    Sorry but i am no expert, I do have my first lease still until April 08...but from I have heard here the $4000 down appears to be excesive...I hope some of the guys that come here read your post and can advise you properly..good luck...
  • mkill2001mkill2001 Member Posts: 7
    i just need to know if the price is too high.. i understand why you shouldn't put down a large downpayment, but i need too and i cant explain why... buy the way, the $289 base model was FWD
  • svofan2svofan2 Member Posts: 442
    All I cans say without making an idiot of myself is that at this time of the year when all dealers are trying to clear their inventories of 07 because the 08 are coming, those proces sound extremely high...you should be getting a rebate and a very good discount and the be able to put less down...check other dealers in your are it may be worth your while....good luck
  • mkill2001mkill2001 Member Posts: 7
    yea, i thought so... i am going to try negotiating the price of the car with the AAA or costco auto discount program
  • svofan2svofan2 Member Posts: 442
    good luck to you, but do yourself a favor...try another dealer..and then go to COSCO,sometimes the dealer will negotiate further down than COSCO if they are ia position of trying to get rid of cars...
  • fordlifer3fordlifer3 Member Posts: 33
    This forum was great. I made a worksheet that even had the sales manager "stumped." price fell. Also asked for factory to dealer cash number. They admitted Ford has passed out $1,000 "certificates" to dealers to use as they see fit. Because I asked, I got one in my deal which, as you see, put the car $700 UNDER actual invoice. Dealer agreed to $300 over invoice. I know the car biz well. Blue Oval-No Gimmick large NJ dealership. Here was the deal I made.

    36 month/15,000 mile lease/residual 50%

    MSRP - $34,369

    Sale Price - $32,600 (or so, I chucked my worksheet, but it was 300 over the true invoice).

    Less $1,000 dealer certificate. Adj Cap Cost $31,122. Residual $17,180. My only cash down was in lots of rebates, $1,000 swap, $750 Edge lease, $500 lease loyality, and $500 college grad (wife) or $2,750. All I paid upfront was tags, first payment, and $135 dealer "doc" fee totaling about $900. Payment including 7% New Jersey sales tax is $412 month X 36 months. With $2,750 rebates, $1,000 manufacturer to dealer cash, and discount, I got over $5,0000 off MSRP. Best yet, I turned in my 24 month RCL on another car and Ford picked up last 3 payments under early bird program.
  • svofan2svofan2 Member Posts: 442
    You sound excited and you should be, it appears that you have done extremely well...what NJ dealer you used?....I get X-plan pricing (which is few dollars under dealer invoice), but you did even better...good luck and enjoy it with the best of health...nothing like being in the right place at the right time..right?..
  • fordlifer3fordlifer3 Member Posts: 33
    Holman Ford in Turnersville. They have always treated me right, and negotiated a fair deal. I also buy from Holman Lincoln/Mercury in Maple Shade when I want that type. Could not see spending another $8,000 for a MKX. Just do not get it on that one.
  • svofan2svofan2 Member Posts: 442
    Great thanks....I do know Holman since we have attebded Mustabg shows there...I do own an SVO Mustang that I show...
    Good luck and thanks again.
  • pinkeepinkee Member Posts: 1
    I am Looking to lease a 2007 Edge SEL+ tomorrow sticker 32,965. Can you send me the e-mail from James Walsh with your lease amount so I can be ready.
  • fordlifer3fordlifer3 Member Posts: 33
    term/miles.

    try the free calculator at leaseguide.com I think). See my post for my #s
  • hardhawkhardhawk Member Posts: 702
    Car man, can you tell me the residuals and rates for October leases on a 2007 Edge? Looking at a FWD SEL+ for 36 month, 12,000 mile per year and 10,000 mile per year numbers. Thanks. Do you have any rate and residual info. on the 2008 Edge FWD Limited yet? Looks like there is $2000 in total incentive (1500 lease + 500 dealer) on the 2007. Have no idea what the incentives are for the 2008's.
  • hardhawkhardhawk Member Posts: 702
    Car Man: Scratch my last request. Have ordered a 2008 Edge with the following proposed deal. 2008 Edge Limited FWD, trailer tow, cargo mgmt., power liftgate, Sirius radio. MSRP $32,170. Cap cost. of $30,675.95, which is invoice plus adv. fees of $458. 2% interest rate, 52% residual, 8.3% local sales tax on each payment, and $1000 in total lease cash back. Monthly payment of $450 including tax. Deal could change if rate, residual or incentives change at delivery, but my bet is they won't be worse and might be better in December. Tell me your thoughts.
  • ventr4thventr4th Member Posts: 9
    I was just quoted a price of $468/month for a 36 month lease on the 2008 Ford Edge Limited with is like an SEL but has more things on it - like Sync, rear sensors, leather, etc. I was quoted a price the numbers below for a 2008 Lincoln MKX ...Here is the information that you requested on a lease . 24mo/10,500miles/with a rebate of $1,500 / $1,428.22 due at signing is $545 plus tax at 62% residual & .50% rate . 39mo/10,500miles/with a rebate of $1,500 / $1,372.44 due at signing is $493 plus tax at 52% residual & 3.0% rate .

    I think you got ripped off by your salesman.
  • ventr4thventr4th Member Posts: 9
    I just returned from the Ford dealer in Ft. Lauderdale who quoted me a lease rate of $468/month for a 2008 Ford Edge Limited (similar the the 07' SEL Plus?) with Sync and power liftgates. This is for a 36 month lease with sales tax included.

    Last week I test drove the 2008 Lincoln MKX at the dealership in Pompano Beach, FL. Their price for the base model (no liftgate but it includes Sync and air conditioned seats which are not available on the Edge) is as follows:

    Here is the information that you requested on a lease. 24mo/10,500miles/with a rebate of $1,500 / $1,428.22 due at signing is $545 plus tax at 62% residual & .50% rate . 39mo/10,500miles/with a rebate of $1,500 / $1,372.44 due at signing is $493 plus tax at 52% residual & 3.0% rate .

    What other lease questions should I be asking?

    I do not have the MSRP's for either of these cars but if anyone out there has leased either a 2008 Ford Edge Limited or a 2008 Lincoln MKX can you tell me if the lease rates are competitive? I can't imagine why anyone would pay nearly the same for an Edge as for a Lincoln?
  • gonecruzangonecruzan Member Posts: 13
    Well, I just turned in my Explorer and came home with an edge. I was gonna jump into another explorer, had it picked out and went to go pick it up however the dealer made me test drive the new edge. I have to admit. I loved it. IMO, there was actually more leg room in the edge than the explorer front & back. And I can still fit 4 golf bags in the trunk. :-) Here was my deal. I got an Edge Limited AWD fully loaded - DVD Entertainment. MSRP of $38,260. I put down $2,500 out of pocket which included the first payment, title, taxes, fees & dest. charges. My lease is for $394/month for 36 months and 12k/yr. I'm wondering how I did. Any input would be great. Thanks Guys!
  • pbs0626pbs0626 Member Posts: 18
    Hello, Could you please lease rates and residuals on a 07 Edge SEL for 12K or 15K miles, 36 or 48 months.
    Thank you so much!!
  • sfowler22sfowler22 Member Posts: 8
    I am also interested in lease rates and residuals on a 07 Edge SEL+ FWD for 39 months, 48,750 miles, good credit.
  • barryjonesbarryjones Member Posts: 1
    Car_Man,
    I'm going to look at leasing a 2008 Edge Limited in the next week or two.

    If you get the chance, can you tell me the current Ford Credit rate for 36/39 month leases (12K)? Residuals?

    Been looking over these threads and appreciate all you do. I've learned quite a bit, but there are some numbers that can't be found without help.

    Thanks again in advance.
    Barry
  • ddeliseddelise Member Posts: 353
    Hello -

    Can you provide the lease information - Residual, Money Factor, Rebates, and Acquisition Fee - for a 36 month, 12k lease in Florida.

    I am interested in either the SEL or Limited models, FWD.

    Thanks!

    Damon
  • djhalptertdjhalptert Member Posts: 115
    There is NO WAY those numbers are correct. Please post line by line of your Lease Contract. What was your residual 99%??? NO FREAKING WAY!!!!

    I don't get why people post fake numbers on these boards, I guess it makes them feel better about themselves.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hardhawk. A selling price of dealer invoice on a leased 2008 Ford Edge is really like $500 over dealer invoice once the lease cash that is currently available on it is taken into account. That is a pretty good deal. Furthermore, the lease rate that you were quoted is right in line with Ford Credit's base rate for this model right now. This looks like a good deal to me, especially given the fact that you are ordering your vehicle rather than taking delivery of one from dealer stock.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ventr4th. The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the model that you want and then have the dealer that you are working with calculate your monthly payment using its base lease rate. You definitely should find out the MSRP and selling price of the Edge that you are interested in prior to finalizing your deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you are looking for, pbs0626. In most areas, Ford Credit's current base lease rate for a 36 month lease of a 2007 Ford Edge SEL is .50%. you definitely do not want to lease this vehicle for 48 months. The 48 month rate is much higher, at around 4.0%. Ford is currently providing $1,000 bonus cash and an additional $500 to $1,000 lease cash on the 2007 Edge (the exact amount varies by region). Make sure to take this cash into account when negotiating the capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sfowler22. Ford Credit's current base lease rate for a 39 month lease of a 2007 Ford Edge is 0.75%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks Barry. I'm glad that you have found these discussions so helpful. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge Limited 4WD is currently 3.5% and 55%, respectively in most areas. The numbers for an otherwise identical 39 month lease are 3.75% and 53%. When negotiating your lease on this vehicle, make sure to take the $500 bonus cash and $500 lease cash that Ford is currently providing on it into account. Ford's cash incentives on the '08 Edge are slightly better in select areas. If you tell me what state you are in, I can tell you if you are in a region that has a better program on this model than the one that I mentioned.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Damon. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Ford Edge SEL 2WD with 12,000 miles per year are 2.0% and 52%, respectively. The numbers for an otherwise identical lease of a 2008 Edge Limited 2WD are exactly the same. As you can see, Ford publishes lease rates instead of money factors for the vehicles that it leases. You can convert its publishes lease rates into approximate money factor equivalents by dividing them by 2400.

    Ford is currently providing $500 bonus cash and $500 lease cash on the '08 Edge in your area. Make sure to take this cash into account when negotiating your vehicle's capitalized cost. Ford Credit charges a $595 acquisition fee on every vehicle that it leases.

    Car_man
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  • gonecruzangonecruzan Member Posts: 13
    I don't understand why you wouldn't believe me. Why would I make that up? I will look at the write up of my lease and post it when I get home. :mad:
  • djhalptertdjhalptert Member Posts: 115
    I don't believe you because it is mathmatically impossible. To answer your second question, I don't have any idea why you would make it up. I am a frequent leaser and have been doing the math on the Ford Edge since it came out and there is NO WAY you could possibly lease a 2008 Ford Edge LIMITED MSRP $38,000+ with only $2,500 down which included taxes, fees, etc. for $394 per month. You could probably lease a 2007 Edge for this much but not a 2008, NO WAY. Post ALL of your numbers from your contract line by line.
  • steevosteevo Member Posts: 389
    THe math works fine if they went below invoice...and there is 750 rcl cash plus 500 customer cash available on the lease...The numbers work if you plug them in if the dealer went down that low. And maybe there was some equity in that Explorer he traded...
  • steevosteevo Member Posts: 389
    On further review...He also put down 2500.. SO depending on what taxes are in his area could be over 1000 as a ccr..So the math works out fine.
    Nice deal!
  • djhalptertdjhalptert Member Posts: 115
    You're high. Get a calculator. The $2500 included destination, taxes, title fees, first months payment. SO REALLY HE ONLY "PUT DOWN" $1,000 OR SO MAYBE EVEN LESS. Like I said, IMPOSSIBLE. And he hasn't posted the numbers so he is a (NON-TRUTH SPEAKING PERSON). I hope that is an acceptable description since they didn't like the word I used on my last post that was removed.
  • gonecruzangonecruzan Member Posts: 13
    Ok, well I'm not sure what numbers you want me to post. This is only my second leased vehicle so I'm not sure which ones are important. Let me know what numbers you want me to post and I will post them. I am in NJ so our taxes are 7.0% and keep in mind that this is the 2nd vehicle I have leased from them. If the deal is that good, why not come down to my dealer and see for yourself. I am a betting man and would love to bet you a new remote starter that that is what I put down and is what I am paying!
  • steevosteevo Member Posts: 389
    Post the final Capitalized Cost of the vehicle from your lease contract. The rest can be extrapolated.
    Nice deal :D
  • hardhawkhardhawk Member Posts: 702
    Since I am leasing a new Edge soon, I would like to see the following info on your deal. MSRP, miles per year, FWD or AWD, model and model year, Cap cost, cap cost reductions or additions, acquisition fee, interest rate on the lease, and residual. Also, do you pay sales tax on the payments only as they come due or on the whole car up front? Thanks for sharing!
  • steevosteevo Member Posts: 389
    From his first post :
    "I got an Edge Limited AWD fully loaded - DVD Entertainment. MSRP of $38,260. I put down $2,500 out of pocket which included the first payment, title, taxes, fees & dest. charges. My lease is for $394/month for 36 months and 12k/yr."

    So from there figure he got the 750 Red Carpet cash and the 500 customer cash(at leat thats what it is in NY). The current lease is 3.5%/55% . We know its 2008 because its a Limited. Only unknown is what the final selling price or Capital Cost of the vehicle was.....
  • hardhawkhardhawk Member Posts: 702
    Thanks for that info. He must have gotten a heck of a low cap cost to get the monthly number that low! If you take out the first month payment from the $2500 that whacks any cap cost reduction to $2100. If you estimate another $500 for title, tags, personal property tax, etc. that whacks it down to $1600 cap cost reduction. Even with $1250 in cash (only $1000 in KS) he would still have had to get a cap cost well below invoice to make that monthly payment number work. Is the monthly payment number inclusive or exclusive of sales tax?
  • steevosteevo Member Posts: 389
    Thats what we need to know...Figure its possible to be 1000 or so under invoice due to the 1250 in incentive cash, but its still a stretch.
  • mdarellimdarelli Member Posts: 1
    Can anyone tell me what the residual and money factor are on 2008 Ford Edge Limited FWD for a 39-mo lease. I am in northern California and the dealer is telling me the residual is 49% and the money factor is 4.5%. The residual on this vehicle seems low and the money factor high. Thank you for your wisdom.
  • hardhawkhardhawk Member Posts: 702
    My dealer tells me for a 36 month, 12000 mile per year lease on that model the residual is 52% and the lease rate is 2%. Hope this helps.
  • gearhead_8gearhead_8 Member Posts: 4
    My bottom line deal...
    2008 SEL AWD List: 33860 (seating pkg / vista roof / prem chrome whls / reverse sens / sync / sirius /...) 2500.00 trade 200.00 down 36mo @ 15k/yr - 355.00 per month inc. 8% NY state tax. I have been reading through the forum quite a bit, and learned a lot.... we originally started with a similarly equipped 07 and numbers came in very high. We then switched to an 08, and some back and forth we arrived at the deal. There was no discussion of residuals & money factors - only montly payments and a little negociating on the trade in.
  • actraveleractraveler Member Posts: 9
    Hi Board!

    Never leased before, but I feel that this may be more practical at this point in my life.

    Here's what I can tell you--

    I am in Southeast Florida (West Palm area).

    The Maroone Group has a 2007 Ford Edge SEL Plus leftover. Invoice pricing is $29550 according to Edmunds. I can qualify for X-Plan which is usually Invoice + $100, but I intend to offer $29000 for the unit (unless you have a better suggestion). They have tons of leftovers and if they don't want the deal, I found 2 other dealers with acceptable alternatives.

    So assume a price of $29000. Sales tax in Palm Beach County is 6.5%. I am interested in 24mo/15K per year or 36mo/15K per year.

    I plan $0 down other than rebates which according to Ford's website is $1500 for 2007 models and I have another $500 from another rebate source (American Quarter Horse Association) Total down $2000 (through rebates).

    I have excellent credit so I will qualify for top tier rates.

    What should I be looking at in terms of a lease payment?

    Thanks for your help,
    Hal
  • ddeliseddelise Member Posts: 353
    You will probably not get a very good lease rate on a 2007 model. The lease rate will probably be Ford standard, and the residuals will be very bad too.

    If you want to lease, you should look at a 2008 model - the final lease cost will be much less than a 2007.

    If you want to buy and plan on owning for a few years, then the 2007 might make better sense.

    Damon
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