Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
Ford Edge Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
What I am looking for is someone who can provide actual numbers so I can make a better decision as opposed to "I think" or "I heard".
Likewise, if someone has the numbers for a similarly priced 2008 SEL, that would be even more helpful--except rebates $1000 not $2000.
Thanks,
Hal
Can you guys help me in this as this is my 1st lease & hope it can help many new buyers.
Here are the details of lease term
2008 limited with :-
Panoramic Vista Roof
Power Liftgate
Sirius Satellite Radio
Rear Cargo Management System
TOTAL MSRP $33,225.00 ........I have not negotiated the price yet.
Edmunds Invoice is $31000 on this.
They will take $1000 off beacuse of ford lease offer prog.
Ford Credit charges a $595 acquisition fee on every vehicle that it leases
* $0 down.
I am in South Carolina & have to pay only $300 sales tax.
No 5% every month.
*36 months ..................15K miles / year
*50% Residual Value ( Can I negotiate here ? )
*2% lease rate aka money factor
M...Payment $489.18
I am missing something & how can we get it better ?
Thanks.
I'm trying to negotiate a lease on a 2008 Edge SEL AWD and this is the deal the dealer has presented:
MSRP - 33685
Selling Price - 31876.95
Rebate - 1000
Down Payment - 2500
Residual - 16,505.65 (49% 39 month lease, 15K miles)
APR 2.5%
"Startup" costs - 747.89
Monthly Payment zero down 459.45
Monthly Payment with 2500 down 388.78
The math more or less adds up. Howeever, a couple things don't seem right. For one, the residual. I'm seeing posting on here of 50 to 52%, what's with 49%? Second, isn't Ford offering 2% financing one a 36 month lease? And what's with the 39 month lease? Warranty is only 36 months. Last, what is the $747.89 "Startup" cost.
Is there something I'm missing?
Thanks
So I should expect round about $500 over edmunds invoice ?
I know about the X plan but In your opinion what will be the
difference between X-plan & edmunds invoice price.
Thanks!
I hope to join the family soon. Please do post the info after you get the deal done.
I am also trying to get my deal done within next 2 days.
Damn that 8% on every lease payment. :mad:
Thanks again
32522 Ford Credit Owner Loyalty
32530 AAA eCoupon (Might be self explanatory but where do you get the eCoupon from?)
32518 Earlybird
32494 Partner Recognition Plus Prvate Offer (I am eligible for X-Plan)
Thanks,
Hal
MSRP: $32,170 FWD Limited, Trailer tow, Pwr Gate, Rear Cargo Mgmt, Sirius
Cap Cost: $30,628 (X Plan) Invoice including $458 in Regional Ad Fees was $30,676
Acquisition Fee: $595
36 month, 36,000 miles
Residual: 52%
Lease interest rate: 2%
Rebates: $1,000
Doc Fees: $95 I was getting a good enough deal I did not complain about these.
Zero down: Out the door for first payment only. No security deposit.
Monthly payment before local sales tax: $416
Monthly payment including 8.3% sales tax: $451
I feel I got a fair deal and my wife loves her new Edge. Creme Brulee with camel leather. Installed Weathertech floor liners and cargo liner in black as black goes better with the black trim in the new camel interior. They look great.
Thanks to CarMan and others who have been so helpful.
He is my lease deal
Dont pay higher than this for 2008 Edge Fwd LIMITED
Here are the details of lease term :-
2008 limited with :-
Panoramic Vista Roof
Power Liftgate
Sirius Satellite Radio
Rear Cargo Management System
All weather mats
TOTAL MSRP $33,225.00 ...... :shades:
Edmunds Invoice is $31,100 on this ( does not include ad fee ).
X-plan price $31,500
Take $1000 off beacuse of ford lease offer prog.
Ford Credit charges a $595 acquisition fee on every vehicle that it leases.
* $0 down.
With X-plan there is no document fee.
I am in South Carolina & have to pay only $300 sales tax.
No 5-7% every month.
Tag & title $ 39
*36 months ..................15K miles / year
*50% Residual Value.
*2% lease rate aka money factor
M...Payment $460.76
I doubt I can do better than this.
Gl to all
I told them that I want a payment around $400, but this is the best that they said they can do...
Total Cap cost......34,537.36 ( which includes down payment of 372.64 and Assignment Fee of 595.00)
Residual Value 48% which is 17,491.20
Money Factor of 0.5%
They said that there is a 1500 rebate but then are charging 1500 combined inception fees and excess cash/rebate/equity.
36 months with 15k miles and 6.60% taxes
In the end my payment would be 516.66 a month. MUCH HIGHER THAN I WANT. I am a female and went in alone and so I feel that they are taking advantage of that. What do you guys think??
I was offered invoice pricing. When I balked at invoice on a leftover, the dealer then offered invoice price but offered to include Wear Care coverage. I don't know his cost, but all local dealers in S.Florida charge $690 for it. Dealer fee ($698 ripoff) waived.
Quoted Nov 30th
Terms 15K, 36 Months
Residual 45%
Purchase Price $31013
Money factor .75
Inception $595 + 1st Month Payment=$1002
Monthly $382+Tax=$407
Wanted to wait until today in case December incentives changed. Try to get more from your dealer. You may not get cash, but at least ask for something of value- like Wear Care for agreeing to take a leftover. 2007s depreciating by the day.
If he doesn't move, walk away. Check another dealer.
Hal
I have a strong feeling that the lease price I was offered is too high, and came here to get advice on that. First things first, I have never leased/bought a car on my own, so this whole process has been incredibly frustrating and confusing for me. And like a prior poster, I'm a young female who went in alone. Here's the deal:
I came in looking for a lease, flexible on terms, etc. I have a vehicle appraised for trade at 9k. We did a couple of different calculations - using the trade as part of a lease, and also as part of a purchase. Overall, the lease rates were as follows:
Sticker on the car (I believe - we went through a few different cars, but this is ballpark) was around 36-37k for a Limited AWD with many options. I have X-plan, so it was going to go down to around 34-35k.
With the trade (basically 9k down), 39 mo lease with 15k miles/yr, my payments were estimated at $409/mo. With that much down, this sounds high to me (especially after what some of you have paid with 0 down).
Granted, the car is a bit more expensive, but it seems like 9k down should make a bigger dent than that - when I calculated what I will have paid overall for a 39 month lease including my trade, it comes out to something like $640/month, which sounds really high, considering the X-plan and everything. Any advice would be GREATLY appreciated.
I'm in Northern Virginia/ DC area by the way...
Is it best to just sell my current car (not include in the lease) and then use what I get out of that to pay off my lease? My parents are not very much help because they've never had a trade in (always just from lease to lease), but a woman at one of the other dealerships I visited said I was throwing away 9k...any thoughts?
Thank you all so much - this forum is great and very helpful for us inexperienced car buyers...
from what I have learned.... YOU SHOULD BE LOOKING AT A 2008 for a better lease deal! Am I right guys?
P.S. Thanks so much for all your help!
MSRP: The factory sticker price on the window sticker and includes destination fee.
Capital cost: The "selling price" of the car. This should be no more than the invoice price for the car including destination fee. I just got my wife's 2008 Edge for that number. It was about $500 over what the Edmunds website shows for the invoice price as it includes regional advertising fees the dealer pays. DO NOT figure rebates in at this point!
Rebate & Incentives: Whatever you qualify for should here be deducted off of the Capital cost figure you started with. Right now I am aware of $1500 in rebates/cash available with a Salt Lake City zip code. There may be more. Ask the dealer to show you the "Vincent Report" for that car's VIN. It will have all available incentives for that exact car.
Residual Amount: This is the percentage that the car retains at the end of the lease. Yours was 48% for the lease you asked for according to the dealer. THe 2007 residual is lower than a 2008 and also varies between AWD and FWD.
Lease interest rate: This is the rate they charge on the lease. Yours was .5%, which is excellent. The 2008 rate is 2%.
Acquisition Fee: Ford charges $595. THis should be added to the capital cost for calculations.
Document fees: Dealer may charge a small fee.
Sales tax/property tax/title/tag: Each state is different. IN KS sales tax is added to the payments each month. Property tax is paid when you get your tag along with the tag fee.
THERE SHOULD BE NO OTHER FEES OR CHARGES! They may try to sell you Wear Care, which is additional insurance. There should be no "inception" or other fees-Period!!
When you have all these numbers, go to www.leaseguide.com/calc.htm This is a lease calculator site that lets you double check the numbers the dealer gives you. If they are not pretty close, you are being ripped off. Even selling at invoice, a dealer gets a 3% holdback payment from Ford, so even if they sell you at invoice, they are making 3% of MSRP.
Sorry for the long post but hopefully you can use this information and the lease calculator to show them in black & white why you will not pay more that you should! A reputable dealer will be honest with you and not try to take advantage.
Here's the kicker.......The first guy, Marco, called me back and wanted to know what he could do to sell me the car, I told him get my payment around $400. He called me back several times later explaining fees to me, but unwilling to lower the price of the car. So I told him that I am going to have to go somewhere else. He is faxing me the information right now "the lowest I can go", but the payment is still close to 500!
How are you guys finding such great deals, I am finding nothing at all unless I go to a stripped down model.
There is a Japanese saying that when translated to English says, "Always appear to cooperate."
When negotiating for a car, DO NOT alienate yourself from the salesman. manager, or dealership. It will make them want to work with you LESS. Do they want your business? ABSOLUTELY! Do they want to be called a--holes or treated disrespectfully? NO!
AND what they seem to hate most are internet know-it-alls so learn what you can but DON'T share your knowledge with them. Just negotiate with what you know.
NEVER talk about a trade-in until you have negotiated the price of your new car.
The key to negotiation (I am a professional REALTOR for 25 years) is to have it appear that everyone wins in a successful negotiation.
Therefore, insist on invoice pricing. I buy/lease a car about every 2 years, and I have NEVER (yes, NEVER) paid a penny over invoice. Sometimes you can tell them you're a member of a local Credit Union and can even get it for $100-$200 under invoice. Are you a BJs or Costco member? Mention that too.
Once you establish a price, then the key is the interest rate. From there, ask for a complete accounting of evry penny to look for the "fat" in their bottom line price.
Whatever you do, DO NOT burn your bridges behind you because you just may have to go back a dealer you walked away from if they have the only model you are looking for. That's a bad position to be in.
Hal
The other fees to me appear to be state fees and are all legit - no negotiating. The dealer is collecting and passing on to the state.
Damon
2008 Ford Edge Limited AWD
Black Clearcoat
Loaded with everything
MSRP 38383.00
Getting it at invoice of 36,819
Residual of 51%
Money Factor of 2.0
15k miles
36 months
1800 rebate
Payment is quoted at 540.00/month
I know, a lot higher than the initial 400 I was wanting! HAHA We figure that if this is a good deal then we would get it because it is a lot more vehicle to me. What do you guys think?
Good Luck! It's a cool car, I'm quite happy with it so far.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
We are driving to Fl in husbands car on Jan 9- Apr 3
Thought we would wait on the 2008 Edge Lease until
April when we return.
or are the very best deals at the end of the year? and
should we move now and leave it sit while we are gone?
My wife works for a major airline, and as they buy large volumes of Fords, she can get the discount.
It's a great program because the X-Plan price is set by Ford to the dealer. The dealer can't charge a "dealer fee" add-on either. That's a Ford rule, and the X-Plan price is usually +/- $100 of invoice price. Also, most all rebates apply.
I've seen some people on blueovalforums offering these codes, but there is limited transferability so don't pay for one. If you can get the car for invoice, you'll be close in price, but the dealer fee maybe something you can't get out of.
Hope this helped.
Hal
new to the site as I have been happy with my 02 Cherokee for a long time. I am looking at leasing a new 08 edge as I know I am city living in downtown st louis. The model I am looking at is as follows. any assistance with lease rates payments I should target etc would be appreciated.
I would be putting 0 or little down. and am in the ST Louis area
2008 Limited black
20" premium wheels
class 2 trailor tow
interior appearance upgrade
panoramic roof
thanks
MSRP (Sticker Price) $36,210.00
Discount Price $34,381.95
Term/Miles 24mo 12,000 miles a year total of 24,000 at the end of your lease
Lease Rate .75%
Residual 62%
Cash Down 0.00
Ford Rebate $1,250.00
Your Sales Tax Rate 7.741%
Govt Fees (personal property tax and Plates) $216.00
Taxes $984.48
Security Deposit (Refundable at the end of lease) $575.00
Payment $570.88
Total due at signing $1145.88
thanks alot for your help!!
Let's come up with some approximate pricing so that we can estimate this truck's monthly payment. The Edge that you described has an MSRP of around $36,320 and a dealer invoice price of $33,855. Ford is currently providing $1,250 lease cash on this model in most areas. If we subtract that from the invoice price and add $500 for the dealer we come up with a capitalized cost of $33,105. Using these numbers, I come up with a 36 month, 15,000 mile per year, zero down, pre-tax monthly payment of around $458.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum