Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
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
One thing the dealer warns about is the risk of their being no rebates available (or less of a rebate) by the time comes in from the factory (and estimated 8-week window). It would be really lame to order a Limited with only the specific optiosn we want (rather than splurge on a top-equipped '11 Edge) in an effort to save money, if today's rebates are gone and not replaced in 8 wks (near the holidays).
I guess I'd ask, has anyone has had dealer rebates actually "go away", before taking delivery of the vehicle.
Thanks
Stephen
The rebates just changed on the '11 Edge, for the worst. The rebate had been $1,000; then, just last week, a second rebate of $500 went into effect making $1,500 in rebates available total...
I was quoted a sale price of $37,761 for an '11 Edge Limited, with option package 302A & rubber floor mats last week. The MSRP on the car is $41,920. The sale price included the $1,500 in rebates. I was given the price last week, and when I went in to negotiate the price would not budge - they contended the sale price given was the invoice price minus the rebates. We left, because the car is more than we planned to spend and had to think about it... plus getting one price with no further negotiation is odd to us so we weren't ready to pull the trigger right away.
Fast-forward to this week - the $1,000 rebate has suddenly gone away from the Ford website and now there's just the $500 rebate. I was really shocked. I now knew that the sale price I was given the week before really was the best price I could get at this point, even if I started fresh at another dealer. Ordering an Edge was definitely out because this abrupt change in rebate amounts showed how you can't count on rebates to be there when the ordered vehicle comes in.
, the dealer honored th
Fortunately, even though the $1k rebate from Ford went away, the dealer honored the sale price given to me the week before (by their internet sales person). I thought that was really good of them to do that (maybe they'll back-date the paperwork or something so they can still get the rebate...or maybe they'll eat the $1k, who knows). I know some dealers are scummy and will offer "1 day only" prices and stuff like that. These guys said they'd honor the price given to me until the car sold.
For those buying right now, I would ask the dealer if they would honor the recent full $1,500 rebate. If not, then I would wait until the rebates improve... One thing this dealer said is that Ford is cutting back on '11 Edge production, and that they weren't getting any more until the end of the year. But she said this before I pulled the final trigger (maybe a slight sales ploy).
12k mi/year: 1500 down, $579/mo.
15k mi/year: 1500 down, $599/mo.
Both leases offers were for 39 months. I ended up buying from a different dealer. Both dealers are in MA.
This is for a 10,500 miles per year
469 ------------------------------, $2999 total down & deposit.
2011 Edge Limited AWD(fully loaded)
MSRP: $43,235
1st quote:
$2,100 down
39 months
10,500 miles
$480 month including taxes
2nd Quote:
$2,000 down
39 months
10,500 miles
$399 month NOT including taxes
We're pretty happy with that deal, putting us almost $4k below MSRP and $2,100 under invoice after the incentives.
Going to pick it up this week!
EDIT: Sorry, this was in the Indianapolis, IN area, Don Hinds Ford.
Go into any dealer with your PIN number and they'll show you the price as it's printed on the invoice. Further, the dealer is not allowed to add any other charges to the price.
How much will I be able to save by buying Ford Edge with comparable features vs RX350?
RX350 comes with lot of standard features like the keyless push button start, leather interior, power lift gate.
If you're leaning towards the luxury brands and want a Ford you should look at the '11 Lincoln MKX. Substantially upgraded from the Edge in interior feel and quality and has the SYNC tech. it also has the longer warranty like the RX and (I would hope) a little more pleasant dealer experience then you would probably get at a Ford dealer. It gets better mpg than the RX as well on regular gas while having more HP.
Good luck.
What you say makes sense.
I have never been to a Lincoln dealer. I recall being in a Lincoln Towncar limo rides being the most comfortable ride ever.
Anyway, I will check that out. I if price is comparable, I may look for pre-owned Lexus.
I like the Volvo XC90 and new coming soon Tourag. Only thing I am afraid is reliability of Volvo and VWs break down in a middle of nowhere (it happened to my brother in his 05 Tourag).
Thanks again.
The base RX is $38850. You should be able to get that discounted as well but, I agree, maybe not as much. Ford already has a rebate on the 2011 I see so the spread may be more like $5k. Still within reason if that is the vehicle someone wants. Edmunds puts the difference in TMV prices at about $4300 which is close to what I said. Of, course I've found that you can beat TMV in most areas just like you mentioned with Edge price. The RX can be had for less than TMV too.
People can come on these forums and say anything about what they can get a vehicle for so I leave that up to to OP to do their homework. I was just trying to throw some pros and cons up there to help.
I still think if someone is looking for one of the premium crossovers the Lincoln MKX deserves serious consideration.
Also, how strict are they with proof of student status or employee PIN number?
I really enjoy reading the posts in this forum and have finally decided it's time to take the plunge and lease one of these great American cars.
Thanks.
Bankston Ford in Frisco, TX is saying my Armada is worth only $19,500 and my payoff is $28,516, putting my deep in the hole.
Their initial offer is the EDGE at $1,616.61 off of MSRP plus FORD incentives of $2,750.00.
Their initial offer has me financing $48,726, which is quite a bit over MSRP, and the dealer claims that this will make a 72 month APR higher, like 7% or even 7.99%.
The Edmonds Used Car report says my Nissan is worth $21,691.00, which is higher then the dealer is offering.
I am trying to get my 72 month payment to under $700.00 per month, including my negative equity on my trade in.
Any suggestions of help from Car_Man or anyone???
Thank you!
Good Luck.
If you commute and don't constantly haul heavy cargo, my best suggestion would be to park the Armada and use it only when you need it's hauling capacity. Ride out the lease & start setting aside a few bucks a month to cover the mile overage charge. Buy a used compact or midsize sedan for use as a daily driver. The sedan should be far cheaper to drive (better mileage, cheaper maintenance overall, probably cheaper to insure).
That may not be advice you want to hear (read), but I'm giving my honest and frank opinion. The Armada's status put you in a bad place financially and the best way out is to minimize costs until you can correct it. Unless you need to get rid of an unreliable or crash victim car, rolling one car's payoff into the next car's loan is just avoiding dealing with reality.
That's a crazy idea. If he doesn't have the few thousand to raise his head above water for the trade how would he have the few thou needed to purchase a second car. The sales tax, doc fees, title fees, maint on a used car, insurance and initial cost of a second vehicle would be way more than some excess mileage charges.
Just ride out your lease and save some money for the extra mileage charge and then go into another lease on something a little more suitable for your lifestyle. A fwd Edge that gets 27mpg hwy and has close to the carrying capacity of the Armada is not that bad of choice. I assume you know what you're doing and need that carrying capacity. If not, all bets are off.
I can afford an EDGE, and it is what I want to get. I also have a 5 year old, so carrying her in something smaller and less safe is not an option for me. I also am in Sales, and take clients with me frequently to lunch and whatnot, and need something nice and roomy.
I know buying a new car and suffering the depreciation is a bad thing, but I am finally going to stop leasing sue to my mileage, and go into a loan where I can not worry about miles (even though I know we all pay for miles one way or the other)
I am simply trying to get the best deal I can. I have submitted an offer to them and we will see what they say, and got a lot of the info from Edmonds. What a great site this is!
If the OP continues at 24K miles/year for the remaining 15 months that comes to 30K more miles at 18 cents/mile or another $5400 in mileage surcharges. That's $360/month.
Driving the Armada will cost $789/month + the lease payment + all the other required maintenance.
Hyundai has a good offering in the 2011 Sonata. It's a "nice and roomy" large 4 door sedan with a 5-star safety rating. Take a brand new 2011 Sonata SE. With 0 down and @ 4%/72 months, the payment is $354. Call it $400 once you add for taxes and whatnot.The combined EPA rating on the Sonata is 26 MPG so monthly fuel costs would be $231. The Sonata is at a base of $631/month to own & operate.
To keep things simple, assume maintenance costs are the same. A sedan (with new tires and full warranty) will be cheaper to maintain than a V8 powered SUV but let's forgive that for the moment. The question is, then, are other expenses like insurance, going to top the $151/month difference in cost. For me they would not as my car is running just over $70/month to insure.
So sure, we can say forget buying a used sedan. Buy a NEW one and it's still cheaper.
And again, to be blunt, you should step back and gauge wants v. needs. Most sedans are just as safe if not safer than SUVs. Plenty of sedans are also quite roomy for up to five people. Since you're looking at the Edge I'm assuming you don't need 3rd row seats/capacity for 6-8.
You're considering a loaded Edge with a $41K sticker. There are Edges starting just over $27K (the price of a fully loaded Sonata 2.0T, incidentally). How much of that $14K in trim and options are wants v. needs? Get the needs but given the nature of the upside down Armada you should minimize the wants. Dropping $7K in options would reduce your new monthly by around $100, which would go a long way towards getting you out of the hole.
Whatever you wind up buying, try to make it last for at least 1-2 years beyond when it's paid off. But when you do pay it off, continue making the payments to an investment account. That way, when the time comes to buy the next car you'll have a good size down payment you can use. The money can double as a fund to tap to pay for repairs if needed.
You assumed she just wanted to save money any way she could. I assumed she knew what she wanted and that was to replace her big honking SUV with a little bit smaller CUV which turns out to be exactly what she wanted. I wasn't trying to convince her to have two vehicles, one of which she clearly doesn't want just because it can save a few bucks. Maybe she only has one parking place, maybe she just doesn't want to worry about two cars. Too many unknowns to be recommending additional vehilces IMO.
But I will admit that what you suggested wasn't crazy from a dollars and cents point of view if the person wants two vehicles one of which is a midsize car or something like that.
Eventually you can sell the car and then you can over pay for that Edge and dig yourself back into another huge hole.
I really want a Limited with 20 inch wheels and Pan roof. Does anyone have any idea what I should be paying? Or how much I should get in total rebates? Please help.
Andrea
MSRP: $43,4,00
Negotiated Price : $40,900
Roll in amount: $5,000 (old lease)
Total Lease Amount: $45,900
Buy Down: $4,500
Term: 39 months / 19,500 miles
Lease Factor: 1.75%
Residual value: 50%
A monthly payment doesn't really help determine what a good price is, and you really shouldn't be tricked into shopping for a car based on a "monthly payment" price. This is one of the main ways that consumers end up paying too much for a vehicle.
You need to determine the best PRICE for the vehicle. After that, you need to work on the financing separate from the purchase price. Make sure you know what the loan term is (# of months) and the interest rate. If the loan term is long and/or the interest rate is too high, it doesn't matter what the monthly payment is - it's too much.
MODERATOR /ADMINISTRATOR
Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
Share your vehicle reviews
We're looking for the Ford Edge- got an offer from-- its Edge SEL, but loaded with extras, including the 202 A package, Voice Sycn, Navigation, Moonroof...it barely seems different the the Limited actually its so loaded...offer is $459/month, $2000 down, 36 mo lease , 15 k miles per year....so your $399 could possibly be better pending how much you had to put down and how many miles in that ???? please let me know ASAP!!! thanks!!
You might not be able to since I'm sure that 2.82% is for "new" purchases. You'd be refinancing which many times doesn't qualify for those low rates. Check with your bank to be sure.
I am looking to purchase a 2011 Edge SEL. I am trading a 2008 SEL with 42k miles on it, Good condition and a 2008 Lincoln Navigator - Good condition. In total, I owe approx. $46k on the two trade-in vehicles. The Edge I have been looking at has an MSRP of $35,585. Any thoughts or suggestions. Thank you!!!!!
Not what you want to hear but don't even bother trying to do this deal. You are so far upside down you're going to need a front end loader to dig you out.
Go over to real world trade in values and post the information - you're not going to like it.
Thank you!
I've been working on this deal for the better part of 2 weeks and I wanted some advice. Negotiating a lease on a edge SEL
Msrp-$ 39008
$2750 in rebates
Money factor .5% (seems super low, this is NJ)
Residual - 64%
total out of pocket - $1000
Price per month-420
Does this sound reasonable? When I calculate the coat on the lease payment calculator using these figures I get a much lower monthly payment but then again, I'm $50 less than where I started with a much better equipped vehicle.
What do u think?? Thanks for all your help!
I regret not getting the package with the back up camera but have lived w/out it for 3 years.Also I have a black one and really wanted the white tri coat but hey...the price was right on the 2007.
My husband has been encouraging me to look at a 2011 Edge - specifically with the Vision package and adaptive cruise control. I have resisted looking for several reasons...I am of the school of thought that you drive,drive,drive a car until you get to the point of outlay over value.
Having said this while I had my car in for an some maintenance work this weekend I saw a 2011 Edge Limited AWD(white tri color) with just about everything except the tow package. The car is listed as used ( it has 7100 miles on it) and it is $34,990.00 I believe new it would be $38,760.00.
I am actually considering buying it - the dealer said my trade is $18,500.00 ( I thought this was a tad south of where it should be but not substantially) So I have apprx 4700.00 left on my 2007 and the remainder of the purchase price (minus trade) is $16,490 and that brings my total out of pocket or out of pocket/finance amount to $21,190.00
If I buy this car I will likely not buy another car for 6-8 years. If I stay with my 2007 I MIGHT buy another car in 3 - 4 years ...mainly because of the increased technology on the newer cars.
I will finance part of this purchase (regardless if I buy now or several years down the road). I like to keep my monthly payments low (right now i am at $240.00) not because that is all I can afford but because that is what I am comfortable with.
Thoughts,suggestions? If i wait a few years my trade will be considerably less and the price of a new car will be higher so given that this car is slightly discounted because it is used does this represent a good deal and make sense? or should i just stay with what I have ( which will be paid off in about 19 months)
Thanks