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Prices Paid: Buying & Leasing Experiences Ford Edge Lease Questions
466 messages, Last post on Sep 05, 2008 at 3:48 AM
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Replying to: hardhawk (Dec 04, 2007 7:38 am) P.S. Thanks so much for all your help!
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Replying to: jlbradshaw (Dec 04, 2007 9:00 am) MSRP: The factory sticker price on the window sticker and includes destination fee. Capital cost: The "selling price" of the car. This should be no more than the invoice price for the car including destination fee. I just got my wife's 2008 Edge for that number. It was about $500 over what the Edmunds website shows for the invoice price as it includes regional advertising fees the dealer pays. DO NOT figure rebates in at this point! Rebate & Incentives: Whatever you qualify for should here be deducted off of the Capital cost figure you started with. Right now I am aware of $1500 in rebates/cash available with a Salt Lake City zip code. There may be more. Ask the dealer to show you the "Vincent Report" for that car's VIN. It will have all available incentives for that exact car. Residual Amount: This is the percentage that the car retains at the end of the lease. Yours was 48% for the lease you asked for according to the dealer. THe 2007 residual is lower than a 2008 and also varies between AWD and FWD. Lease interest rate: This is the rate they charge on the lease. Yours was .5%, which is excellent. The 2008 rate is 2%. Acquisition Fee: Ford charges $595. THis should be added to the capital cost for calculations. Document fees: Dealer may charge a small fee. Sales tax/property tax/title/tag: Each state is different. IN KS sales tax is added to the payments each month. Property tax is paid when you get your tag along with the tag fee. THERE SHOULD BE NO OTHER FEES OR CHARGES! They may try to sell you Wear Care, which is additional insurance. There should be no "inception" or other fees-Period!! When you have all these numbers, go to www.leaseguide.com/calc.htm This is a lease calculator site that lets you double check the numbers the dealer gives you. If they are not pretty close, you are being ripped off. Even selling at invoice, a dealer gets a 3% holdback payment from Ford, so even if they sell you at invoice, they are making 3% of MSRP. Sorry for the long post but hopefully you can use this information and the lease calculator to show them in black & white why you will not pay more that you should! A reputable dealer will be honest with you and not try to take advantage.
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Replying to: hardhawk (Dec 04, 2007 11:05 am)
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Replying to: hardhawk (Dec 04, 2007 12:15 pm)
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Replying to: jlbradshaw (Dec 04, 2007 12:20 pm)
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Replying to: ddelise (Dec 04, 2007 12:50 pm)
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Replying to: hardhawk (Dec 04, 2007 1:23 pm)
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Replying to: ddelise (Dec 04, 2007 1:51 pm)
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Replying to: hardhawk (Dec 04, 2007 2:22 pm) Here's the kicker.......The first guy, Marco, called me back and wanted to know what he could do to sell me the car, I told him get my payment around $400. He called me back several times later explaining fees to me, but unwilling to lower the price of the car. So I told him that I am going to have to go somewhere else. He is faxing me the information right now "the lowest I can go", but the payment is still close to 500! How are you guys finding such great deals, I am finding nothing at all unless I go to a stripped down model.
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Can anyone help? First time trying to lease. 2008 Edge AWD Limited (yes I fell for the rear cargo cover option). Dealer says it will be here in early January sometime. Retail list price $34,600, Invoice as per Edmunds and kbb is $32,390. I am looking for a 36 month deal with either 12,000 or 15,000k mi/year. BTW -I live in Ohio if that makes any difference. Can put down two to three thousand - no trade. I am expecting payments in the high $300's. Can anyone help this novice?
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