Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Ford Edge Lease Questions
520 messages, Last post on Nov 12, 2009 at 3:41 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
Hey all, my wife and I are about to lease an Edge and here's the deal they gave us. Is it any good? We researched Edmund's and Lease Kit so we have a vague understanding...the MSRP is 34,230, he knocked it down to 32,810. It's for an SEL/black/leather/premium pkg/17" chrome rims//vista roof/audiophile/parking sensors/seat settings and I think that's it.. The money factor is .5 and he said the residual was 17,500. it's a 36 month lease. the down payment is 2,300 the taxes (which we were told to pay upfront) are about 1,300 and our payment will be 350.00. they are offering a 500.00 return to us as a deal by the dealer...please help! I hate math!!! 
|
|
|
Replying to: vkeane (Apr 25, 2007 7:39 am) The offer is decent (in addition to the $500 customer cash, there is also $1250 lease money he's apparently applied). Couple thoughts: 1 - try not to put ANY money down - as you will see from reading these forums, it's a bad idea because if the car gets jacked up somehow or stolen, you're out that money. In this case, if you don't put any money down, your monthly payment will jump to approx $420/mo (BUT, you can take that money you were going to use as a down payment, put it in a savings account, and pay that extra $70/month that way) 2 - Again, the offer is decent, but I think you can do a bit better. Looks like he's offering the car at around $1000 OVER invoice (inv. is approx $31,900), so you have room to maneuver. If you bargain him down to invoice, you can get a no-money-down payment of around $390/mo. 3 - Taxes, schmaxes. Whether you pay them now or later is irrelevant - you're gonna be taxed either way - don't let that confuse the issue. 4 - And just for you, Mr. Fear-The-Math, here's how he came up with the numbers for your CURRENT offer on the Edge (you can use these formulas to figure everything out yourself in the future - just plug in numbers): --- Lease payments are figured by adding the monthly rent PLUS interest PLUS tax to get your monthly payment. So... To calculate the monthly "rent"(on the depreciated value of the car) ($28760.00 - $17500.00)/36 months = $312.78 (monthly "rent") (Cap Cost* MINUS Lease-end value) DIVIDED BY the term To calculate the monthly finance charges ($28760.00 + $17500.00) X .0002083 = $9.64 (monthly finance charge) (Cap Cost PLUS Lease-end value) MULTIPLIED BY Money Factor** To calculate the monthly tax ($312.78 + $9.64) X 8.25% = $26.60 (monthly tax) (rent PLUS finance charges) MULTIPLIED BY your state's sales tax Thus, rent + finance charges + tax = your payment $312.78 + $9.64 + $26.60 = $349.01 monthly payment Don't let the numbers overwhelm you - knowledge is a kick-ass thing. Take your time to digest - it all makes sense and will make things much easier for you. Hope this helps. By the by... * Cap Cost is the agreed upon price of the car minus any $$ down and incentives. In your case, this means you took the agreed upon price of the car ($32810) and subtracted $2300 DP, $500 customer cash, and $1250 lease cash = Cap Cost of $28760 ** The Money factor is derived by dividing the lease rate (0.5%) by 2400.
|
|
|
Replying to: crispyj (Apr 25, 2007 9:17 am) |
|
I am looking at buying a Ford Edge SEL plus with vista roof, chrome wheels, nav, etc. The MSRP is $34,930. I have $1000 coupon from a previous lease and there is $1250 in rebates. The payments I am being offered is for a 39 month lease, 15K miles, $390 a month (including 8.25% tax). I think they are selling it to me at about $450 over invoice. Seems like a good deal, but it is so confusing.
|
|
OK, another dealer that is a friend(ish) gave me this: an SEL+ AWD with vista roof, 18" chrome rims, reverse sensing, audiophile and I think keyless entry system?. 36 months at 12000 miles a year. 1450 at signing and everything rolled into the payment which is 427.91 (which he's saying is about 7 bucks over invoice...any ideas? it works out about 77 bucks more a month but nothing upfront really. It's a total of 2804.76 when all added up.
|
|
|
|
Going to go pick my Edge tomorrow. 2007 Edge SEL+, Blazing Copper Metallic, Charcoal leather. Panoramic Roof, 18 inch chrome wheels, reverse sensing system, Sirius, Audiophile CDX6. MSRP $32,690. 36 month lease, ZERO DOWN, 10,500 miles per year, $349 per month with only 1st payment due at signing. Tried to get me to pay some $199 aquisition fee but I wasn't having it. I said "One of us has 23 Edges on the lot, the other does not." His response, "Touché." As long as they don't pull any antics I will be driving it home tomorrow.
|
|
|
Replying to: chuck68516 (Apr 26, 2007 2:05 pm)
|
|
|
This is our deal on the above car. Is it a good deal? MSRP 36480 - Sales Price $34962 color -light sage metallic Incentives applied are $1250 and $500. Trade in on 2003 Ford Excursion nets a generous $2600 since truck needs tires and a/c servicing. Lease term is 39 months/ finance rate is .75/ 15k miles per year. Monthly payment will be $385 for 39 months - no $ out of pocket Residual is .49 Just noticed a etch fee of $125 and ACQ fee of $595. Is this fair? Monthly payment is $385 for 39 months. No out of pocket $.
|
|
|
|
|
Replying to: hardhawk (Apr 27, 2007 7:45 am)
|
|
|
Replying to: chuck68516 (Apr 28, 2007 3:09 pm) |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Ford Edge Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Ford Edge
Browse by Board
Browse by Topic
Today's Chats
