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Prices Paid: Buying & Leasing Experiences Ford Escape Hybrid Prices Paid and Buying Experiences
705 messages, Last post on Feb 06, 2009 at 11:46 AM
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I'm debating purchasing the 2008 Ford Escape Hybrid 2WD. Originally, I thought I'd get a better deal on a 2007 model because of all the extra incentives. The vehicle has a base MSRP of $25,655.00 and a base invoice of $24,198.00. Accounting for dealer holdback (3% off total MSRP), Blue Oval holdback (additional 1.25% off total invoice), and current factory-to-dealer rebate of $500.00, I've come up with a dealer cost of $22,625.88. Add in the destination charge and subtract the $3000.00 in customer rebates, and I'm down to $20,290.88 for the base model. Anyway, after adding in all the options I want (Premium Package, Safety Package, and Moonroof) and my local tax rate, I've come up with a total w/options cost of $25,987.30. That's $7,397.40 off MSRP & $5,031.48 off invoice). Take out another $2600 for the tax credit, and I'm down to $23,387.30. Then, of course, I have to add in *some* profit for the dealer. Now, here's the issue... Going through all that rigamarole with the 08 model has given me a total cost of $25,698.23 (after the $3000 tax credit and, again, I have to add in profit), which is $2310.93 more than the 07, and only $4336.67 off MSRP and $1,873.23 off invoice... That really seems crazy to me, based on previous vehicles I've purchased (course, they've always been marked up more than the Escape). Anyway, I've read--from Ford--that the 08 is slated to have an 11% better residual value than the 07 model... If that's the case, it might be worth it just to go for the 08. That, coupled with all the new features, may be my best choice. Of course, the drastic markdown in the 08 will certainly have a negative effect on the prior models' resale value, anyway. It should also be noted that I used this same formula with both the 07 and 08 Mariners. Oddly enough, both of them came in at just over $200 more than the 08 Escape... So the 08 Mariner is on my mind too. *sigh* Any thoughts before I purchase?
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A large local newspaper is looking to interview consumers who are considering purchasing a Ford vehicle. If you are interested in speaking to the reporter, please reply to jfallon edmunds.com no later than Friday, April 20, 2007 with your daytime contact info.
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Replying to: adamdonaghey (Apr 19, 2007 1:31 am)
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Replying to: treagan (Apr 19, 2007 10:22 am)
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Replying to: adamdonaghey (Apr 19, 2007 10:58 am)
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Very happy with my experience... Had two dealers in a bid frenzy and ended up getting the vehicle for $907.48 off... invoice. That's right, invoice. That's $2750.48 off sticker. I basically figured the cost of the vehicle (including holdback) and added 3% profit for the dealer. I did not include any dealer prep fees, nor the Ford Advertising Dealer Fund (of which dealers have to pay $360 per vehicle). In this case, the dealer *really* did make only a few hundred bucks... Bottom line, is despite the fact that these are brand new, harder to come by, and *really* not marked up by much (dealers really don't make much money on these hybrids), you can still get a great deal. That, coupled with the $3000 federal credit and the fact that I paid cash, just bought me an investment. I highly recommend picking one of these up if you can! I'll just sit back and wait for the 60MPG F150s slated to come out next!
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OK, so I saw a dealer who offers cars on ebay as well, and contacted them about a FEH that was listed at $31K, but the description was base model. He told me it was fully loaded, and I said I wasn't interested in the nav package because it's just too expensive of an add on, and after I told him which packages we were looking for (moonroof, audiophile, hybrid premium) he said he could get one "out the door" (meaning with TT&L) for $29,300, not including my $500 college grad rebate. So, we decided to go down and test drive the one they DID have (the fully-loaded one) since we hadn't actually driven a FEH yet. Got down around 3, drove it and decided we really liked the ride, so we were prepared to see if he could get the one he mentioned they could get (less nav package) in ice blue, or (our preference) "if there's one like that in the green, we can wait longer." He went back to the manger's area for awhile, and we watched TV, and came back asking if we liked the one we drove. I said yes, and he said how about that for $30,500, out the door). I asked if that included the college discount, and he said nope, take that off, and it's $30K. Interested? So, we said yes, and also got the $500 factory-to-dealer rebate that's out now. Then all the financing paperwork began (in spite of me having gone through FMC's credit application a few days ago, in preparation). Declined all the options except GAP insurance (which made a difference of about $2/mo financed). About 2 hours later, we drove away with a kiwi green FWD that has the premium package, navigation, chrome, moonroof and stepbars (only thing I woulda totally skipped, but eh), for $29,290 or about $1,100 over invoice. The salesman mentioned to us that we picked a good time to shop (end of the month), which is something that a car salesman friend of mine confirmed -- they have monthly quotas, so feel more pressure at the end of the month. He also mentioned that they have a limit of how many hybrids they'll have on the lot at any given time. Now, I'm not sure who imposes this limit, but I'm thinking in this case it's the dealership's manager, because this was slightly out in the country south of Houston (at Ron Carter in Alvin), where trucks are a much bigger draw. But, worked in our favor, because end of the month, and faced with seeing if another dealer would swap out their inventory == let's sell the one here. So, all in all, a pretty smooth and surprising experience. 
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Replying to: shaendra (Apr 29, 2007 8:10 am) 1) GAP coverage. I wouldn't suggest buying GAP coverage from the actual dealer. If you feel you must have that insurance, purchase it from your insurance carrier. It's typically far less and since you generally purchase six month premiums, you can always get rid of it, as needed. 2) End of the month myth... It's always the right time to buy a vehicle. The fact of the matter is, a salesman always wants to move a vehicle (despite what he/she may say) and a salesman is always willing to negotiate a good deal. The only factors that will change the amount a dealer is willing to negotiate are consumer rebates and factory-to-dealer incentives. If you're willing to wait for a rebate or an incentive, you will obviously get a better deal.
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Replying to: adamdonaghey (Apr 29, 2007 2:32 pm)  The end of the month didn't make any difference to us... timing was coincidental, in this case, so it was a non-factor for our purchase. Waiting for rebates is probably something we could have done better on, but who knows when those will come? We had a sudden need for a replacement (one of our two up and died, doh!) GAP coverage was all of about $345, so I'm not sweating it at all. I feel fine with the deal we got. Thanks for pointing these out, though! Always good for folks to hear about different angles, going in.
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Replying to: treagan (Apr 19, 2007 11:48 am) Brian |
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