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Ford Edge Lease Questions
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Vehicle: Edge SEL, pewter/lt gray, al. wheels, cargo system, roof rails, sat. radio.
State: TX
MSRP: $28,740
Price: $26,200
Res.: 52%
Finance: .5
Payment: $418 (36mo/12mi)
They were to far off on my trade and I'm not going to buy a new car without getting rid of the old one first, but I would still like some clarity, because I think (and want) the payment should be lower.
I would also like to see the residual be a little higher, but they say this is set by Ford.
Any thoughts appreciated.
Edge AWD SEL+
$1250 rebate
63% residual
.75 money factor
Received today from a Ford dealer. The money factor is obviously off by some factor. I can't figure out if this dealer is quoting me the APR (.75%) or if it's some weird multiple of the money factor (actually 0.00075 or 1.8% APR). Any ideas? It looks like the rest of the money factors in this thread are also quoted in that same strange fashion.
I asked him about it and he responded by telling me that:
"Rate = Money Factor in a lease. The rate that we use to work a lease payment on the Edge is .75. The 3 factors we use to get a lease payment is Rate, Residual and Rebate and of course the cap cost and high MSRP."
Completely unhelpful!
.00031
Very, very low..
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Prices Paid, Lease Questions, SUVs
I've decided to replace my Pacifica lease with an Edge.
The dealer did not have the combination I was looking for on the lot but said he could locate one for me.
I asked for a ballpark number on one one the lot that was close to what I'm looking at.
He gave me $460 for 36 month/12k miles or $490 for 36 month/15k miles. It seemed really high.
Since I hadnt seen this site yet, I didnt ask for the breakdown. He told me that roughly $100 was due to taxes.
According to him in CT, property taxes are included in the lease price (wasnt that way with Chrysler). Even so, it seemed high.
I built the same car as he quoted me on FordDirect site and the numbers are waaaayyy lower.
Any help or suggestions are appreciated.
PS.. this is the same dealer that I need to return my Pacifica to.
I may have to turn it in slightly early due to the low availability of FWD SEL pluses in my area. If I wait until late Aug/ early Sep, I think I will have to take what is left over and not have a good choice of colors, etc.
Does anyone know what the residuals and lease rates are for a 24 month FWD SEL plus now. According to the FordDirect site, there is a 1750 cashback now also. That helps alot.
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Thanks
Ellen
Edge SEL+ FWD residual 12,000/24 month 62% /36 month 51%
15,000/24 month 60% /36 month 49%
Edge SEL+ AWD residual 12,000/24 month 63% /36 month 52%
15,000/24 month 61% /36 month 50%
Lease interest rate is .75% for 24 month and 1% for 36 month
Hope this helps.
They should have a lower residual than the SEL.
I looked at the options sheet bteween the SE and SEL a and there's nothing I must have to move up.
My guess is the difference on the SEL FWD and AWD is about $11/month with A-plan pricing.
$369 per month for SEL AWD, (does not have sat radio or roof or nav) for 36 months, 15K per year everything included. This was by far the best price and I shopped 6 dealerships in NY and NJ. No one came close to this deal - even had 2 dealers tell me that I was making up the payment. I got the car before the new pricing on 7/9, but I have no regrets. This is a GREAT site and helped me to be able to get this car. Thanks Again!
I told him I would be flexible with the colors.
I feeling like he is jerking me around.
I'm concerned that this will drag me into August.
I know it is like looking into a crystal ball but does anyone have a prediction on what the money factor and residuals will look like in August.
Don't get me started on getting rid of them...I would love to see my property taxes go away but CT will never do it. We have some of the wealthiest communities in the country and some of the highest per capita income. Even when they started getting millions from 2 of the largest casinos in the world, our taxes went up!