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Ford Edge Lease Questions

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Comments

  • svofan2svofan2 Member Posts: 442
    ...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 Member 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 Member Posts: 442
    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 Member 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
  • elliemaejelliemaej Member Posts: 79
    Sorry, I forgot the $1750 rebate.
  • chuck68516chuck68516 Member 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 Member 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 Member 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.
  • elliemaejelliemaej Member Posts: 79
    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.
  • shite4brainsshite4brains Member Posts: 7
    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?
  • chuck68516chuck68516 Member 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%
  • leaserbuyleaserbuy Member Posts: 10
    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.
  • shite4brainsshite4brains Member Posts: 7
    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 Member 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 Member Posts: 195
    FYI if you could get the above deal your payment would be about $345 per month.
  • chuck68516chuck68516 Member Posts: 195
    Sorry, the above FYI was intended for shite4brains.
  • chuck68516chuck68516 Member 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.
  • leaserbuyleaserbuy Member Posts: 10
    My mistake, I listed the MSRP as the sale price.
  • svofan2svofan2 Member Posts: 442
    ..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 Member 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 Member 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.
  • shite4brainsshite4brains Member Posts: 7
    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 Member 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 Member Posts: 195
    You are right. Just keep pressure on them, they have to bend/break eventually.
  • chuck68516chuck68516 Member 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 Member Posts: 702
    I will check it out. Thanks!
  • sportsgirlsportsgirl Member Posts: 6
    I do not know anyone employed by Ford.How can I obtain the X-plan? Thanks for your help.
  • chuck68516chuck68516 Member 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.
  • sportsgirlsportsgirl Member Posts: 6
    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 Member Posts: 195
    Are you talking about an Explorer or Expedition? What dealer are you looking at?
  • sportsgirlsportsgirl Member Posts: 6
    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 Member 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.
  • sportsgirlsportsgirl Member Posts: 6
    **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 Member 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!!!!!!!!!!!!!!!!!!!!
  • elliemaejelliemaej Member Posts: 79
    Does anyone have an idea of what the 2008 residuals will be?
  • svofan2svofan2 Member Posts: 442
    Chuck, I am surprise that they didn't just give the Hummer....practically nobody wnats them because of the bad gas mileage...right?
  • chuck68516chuck68516 Member 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 Member 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.
  • leaserbuyleaserbuy Member Posts: 10
    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?
  • leaserbuyleaserbuy Member Posts: 10
    Above is for a SEL with leather and the trimmings
  • chuck68516chuck68516 Member Posts: 195
    I'm coming up with total monthly payment including tax $390.12

    Some thoughts
    1. They need to come WAY down on the "sale price"
    2. Unless your credit is terrible you should be getting 0.75%
  • leaserbuyleaserbuy Member Posts: 10
    1) In your opinion what is way down in price? comparable?
    2) Credit is good and in tier 1
  • svofan2svofan2 Member Posts: 442
    Chuck, I am begining to consider you a friend....the trade in value of a vehicle is based on wholesale price that all dealers will give (some more others less,it all depends on what they will do with vehicle) so when they sale to public they charge retail...KBB gives #'s that most dealers do not follow. Most of them have their "own blue book" that changes weekly and likely daily..
  • svofan2svofan2 Member Posts: 442
    Sportsgirl go to BlueOval.com,and look for the section "employees" there youw ill find how ask for an X-plan #, it is usally given by Fords's employees by Ford and it is called X-Plan for friends and neighbors..good luck
  • svofan2svofan2 Member Posts: 442
    Chuck, I think you are partially correct, all I know, and don't get mad at this NJ guy...remember, I will go NB and you will armor your EDGE and come to NY (with your BAMR)...but I do get pin # for X plans and the dealers, once you use it, they do get into the Ford system to verify if you are legit (name and your lat 4 digits of your social). The only advantage is that the dealer can not charge you for anything else except tax,registartion and plates and it is usually a few dollrs below dealer invoice. Most dealers in the NY/NJ/CT area like to charge upwards of $300..for doc and whatever else the can dream off..
  • chuck68516chuck68516 Member Posts: 195
    The dealer's trade-in value is based on what they want to give you. Not wholesale or market value but rather, the amount of net profit they want to gain/lose on your trade.
    That's why I ALWAYS DEMAND KELLY BLUE BOOK OR NADA TRADE-IN. The dealers will always low ball THEIR PRICE to you on trade-in. If you look at NADA and KBB, then demand the higher one you always come out better off.
  • chuck68516chuck68516 Member Posts: 195
    I have one friend who used the X-Plan he got online from the University of Notre Dame. He generated a pin then went to the dealer. They didn't ask him for anything. So essentially he fraudulently obtained X-Plan. I don't know if any particular dealer will check or require the documentation like they are supposed to. I am just saying, if you are getting only X-Plan on a 2007 model in August, they are coming out way ahead on you and they probably don't care how you get your X-Plan pin number. They are saving money by giving you only X-Plan discount. My dealer just quoted me $5,000 OFF PLUS ACQ. INCLUDED. X-Plan would have been about $2,000 off and you still pay acquistion fee and any other document fee, etc. DON'T USE THE X-PLAN IN AUGUST.
  • leaserbuyleaserbuy Member Posts: 10
    1) In your opinion what is way down in price? comparable?
    2) Credit is good and in tier 1
  • chuck68516chuck68516 Member Posts: 195
    As I have been saying for weeks, I don't get why your dealer's are still barely giving any discount on MSRP. I emailed my dealer last week and he immediately gave me a quote of almost $5,000 off MSRP with acquisition fee included. I'm not saying every dealer can do this but they should come close. Obviously my dealer is still making a lot of money even after giving a huge discount.

    I would think the minimum acceptable would be $2,500 off sticker plus rebates.

    If your credit is "Tier 1" you should be getting the 0.75%

    Everything is negotiable. Ask your dealer WTF is up with his numbers. Tell him that you have been researching and you know the current Ford lease rate. If you have to use the "I got a quote across town from such and such" line, do it.

    Realize who is helping who. They need your sale more than you need their car. You are doing them a favor by taking one of their 11 month old cars off their lot and you have to account for depreciation. If Ford wanted to intervene badly enough they would change the August residuals to 40% to compensate for the vehicle's depreciation. The dealer would then be forced to reduce the sale price to make the vehicle still attractive to buyers. They don't do that because they don't want to take the ability of the dealer to make his money on some poor sap who only gets $1200 off MSRP. Keep fighting.
  • svofan2svofan2 Member Posts: 442
    Chuck!...no hello ,how are you?...just went for the neck..whoa!!!!....you are rough.....I understand what you are saying but what I said is generally speaking....you can demand all you want all they have to do is shift the figures on you and that way make you think that you win..I know...I know...they can't do that to you..specially in NB (just kidding not get out of control now)....again I am talking about the tactics used in this part of the country...and believe me or not I believe that in your neck of the woods things work a little different...people are different and so are business....and different for the better....come over and I will show you....East coast/West coast..different world....
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