Last post on Jun 17, 2013 at 12:37 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Ford Edge, Car Leasing, Car Buying, SUV
#369 of 782 2008 Ford Edge FWD Limited !!
Dec 03, 2007 (9:52 am)
He is my lease deal
Dont pay higher than this for 2008 Edge Fwd LIMITED
Here are the details of lease term :-
2008 limited with :-
Panoramic Vista Roof
Sirius Satellite Radio
Rear Cargo Management System
All weather mats
TOTAL MSRP $33,225.00 ......
Edmunds Invoice is $31,100 on this ( does not include ad fee ).
X-plan price $31,500
Take $1000 off beacuse of ford lease offer prog.
Ford Credit charges a $595 acquisition fee on every vehicle that it leases.
* $0 down.
With X-plan there is no document fee.
I am in South Carolina & have to pay only $300 sales tax.
No 5-7% every month.
Tag & title $ 39
*36 months ..................15K miles / year
*50% Residual Value.
*2% lease rate aka money factor
I doubt I can do better than this.
Gl to all
#370 of 782 Re: 2008 Ford Edge FWD Limited !! [car_crazi]
Dec 03, 2007 (1:25 pm)
Looks like you did good! Congrats.
#371 of 782 Need help! Am I getting ripped off?
Dec 03, 2007 (6:25 pm)
Ok, so I am looking at getting a 2007 Ford Edge AWD SEL black clearcoat with charcoal leather interior. Options include trailer tow package, all weather rubber mats, panoramic vista roof, navigation system, 18" painted aluminum wheels, reverse sensing system, and sirius sat radio. The dealership has a sticker on the car for 36,440. They said that they will sell it to me at invoice for 34,315.05. I still feel that this is too much, but they said that is what they bought the car for.
I told them that I want a payment around $400, but this is the best that they said they can do...
Total Cap cost......34,537.36 ( which includes down payment of 372.64 and Assignment Fee of 595.00)
Residual Value 48% which is 17,491.20
Money Factor of 0.5%
They said that there is a 1500 rebate but then are charging 1500 combined inception fees and excess cash/rebate/equity.
36 months with 15k miles and 6.60% taxes
In the end my payment would be 516.66 a month. MUCH HIGHER THAN I WANT. I am a female and went in alone and so I feel that they are taking advantage of that. What do you guys think??
#372 of 782 Re: Need help! Am I getting ripped off? [jlbradshaw]
Dec 03, 2007 (10:56 pm)
I am in the process of negotiating a 2007 SEL Plus.
I was offered invoice pricing. When I balked at invoice on a leftover, the dealer then offered invoice price but offered to include Wear Care coverage. I don't know his cost, but all local dealers in S.Florida charge $690 for it. Dealer fee ($698 ripoff) waived.
Quoted Nov 30th
Terms 15K, 36 Months
Purchase Price $31013
Money factor .75
Inception $595 + 1st Month Payment=$1002
Wanted to wait until today in case December incentives changed. Try to get more from your dealer. You may not get cash, but at least ask for something of value- like Wear Care for agreeing to take a leftover. 2007s depreciating by the day.
If he doesn't move, walk away. Check another dealer.
#373 of 782 Need help negotiating an Edge lease...
Dec 04, 2007 (4:03 am)
I have a strong feeling that the lease price I was offered is too high, and came here to get advice on that. First things first, I have never leased/bought a car on my own, so this whole process has been incredibly frustrating and confusing for me. And like a prior poster, I'm a young female who went in alone. Here's the deal:
I came in looking for a lease, flexible on terms, etc. I have a vehicle appraised for trade at 9k. We did a couple of different calculations - using the trade as part of a lease, and also as part of a purchase. Overall, the lease rates were as follows:
Sticker on the car (I believe - we went through a few different cars, but this is ballpark) was around 36-37k for a Limited AWD with many options. I have X-plan, so it was going to go down to around 34-35k.
With the trade (basically 9k down), 39 mo lease with 15k miles/yr, my payments were estimated at $409/mo. With that much down, this sounds high to me (especially after what some of you have paid with 0 down).
Granted, the car is a bit more expensive, but it seems like 9k down should make a bigger dent than that - when I calculated what I will have paid overall for a 39 month lease including my trade, it comes out to something like $640/month, which sounds really high, considering the X-plan and everything. Any advice would be GREATLY appreciated.
I'm in Northern Virginia/ DC area by the way...
Is it best to just sell my current car (not include in the lease) and then use what I get out of that to pay off my lease? My parents are not very much help because they've never had a trade in (always just from lease to lease), but a woman at one of the other dealerships I visited said I was throwing away 9k...any thoughts?
Thank you all so much - this forum is great and very helpful for us inexperienced car buyers...
#374 of 782 Re: Need help! Am I getting ripped off? [jlbradshaw]
Dec 04, 2007 (5:57 am)
I'm a girl too and have been watching this forum in prep to lease an Edge too...
from what I have learned.... YOU SHOULD BE LOOKING AT A 2008 for a better lease deal! Am I right guys?
#375 of 782 Re: Need help! Am I getting ripped off? [jlbradshaw]
Dec 04, 2007 (7:38 am)
You should be able to lease a similarly equipped 2008 Edge Limited for that kind of money. I would run, not walk, away from that dealer. I think there is some dealer cash on the 2007's in addition to the rebates. You should get your cap cost reduced by 100% of that, not get ripped off for additional inception fees. I assume you are not trading anything and this is a clean, straight lease transaction you are talking about. Where in the US do you live? If you are not in an area that has an excessive winter you sure don't need to pay the extra $1400 or so for AWD as compared to FWD. I had a friend just lease a 2008 Lincoln MKX with the Limited Edition and all options except Nav. for $550 per month with zero down. The MSRP on that car was over $42,000! Good luck!
#376 of 782 Re: Need help! Am I getting ripped off? [bancroft162]
Dec 04, 2007 (7:39 am)
The 2008 residuals are a lot higher than the 2007 models. The 2007 interest rate is lower, but the higher residual may well offset the higher interest rate.
#377 of 782 Re: Need help negotiating an Edge lease... [somakiss]
Dec 04, 2007 (7:46 am)
Don't put your trade equity doen on the lease. If the leased car is totalled a week after you get it you LOSE that entire down payment. Better to save that and then just use it to help make the lease payments over time. If you have good credit your lease payment with zero down should be somewhere around $500 or a little more a month. You might check the residuals/rates for a 36 month lease vs. a 39 month lease. That won't leave you as much time at the end with no warranty coverage.
#378 of 782 Re: Need help! Am I getting ripped off? [hardhawk]
Dec 04, 2007 (9:00 am)
I live in Utah, and the AWD is the reason that I am getting the edge. Right now I drive a Cadillac CTS with RWD and I can't get anywhere when it snows. Do you think that it should be possible to get a payment close to 400 with that Edge? Are those inception fees normal? With the inception fees, it zeroes out any rebates! I am not trading in anything because they couldn't give me enough for my cadillac, so yes it is a clean, straight lease on my part (not the dealers obviously)! I went into the dealers and told them that I thought that the payment was way too high and that I felt that I was getting ripped off and so they took me in front of their computer and "proved" to me that they were only making $100 on this deal! Yeah right huh? They showed me the invoice that supposedly "we don't usually show this to buyers," and it showed invoice price at 34315.05. Do dealers really pay that much for it? Can they lower the price to less than that? What numbers on my deal need to change to get the monthly payment lower?
P.S. Thanks so much for all your help!