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Ford Edge, Car Leasing, Car Buying, SUV
#431 of 790 2008 Ford Edge SEL FWD
May 20, 2008 (11:40 am)
This is my first time posting here, so forgive me if I say things incorrectly.
I was offered this by a dealer in Southfield (metro Detroit), Michigan:
2008 Ford Edge SEL FWD
Options: Sync; Audiophile System; Panoramic Roof; Sirius; Cloth interior...
Adjusted price w/A Plan and Ford Loyalty - $25601.65
36-month lease; 15,000/year
Residual - .46
Money Factor .0009375 (2.25% APR)
$616 due at signing including 1st pymt
Monthly Payment $ 388.32
My question is, does this sound like a good deal? By my calculations using the Money factor and resid, I come up with a bottom line payment of $367.04 with tax.
It seems alright to me, but - - - I just want to be sure, since you're the experts. Has anyone gotten any better pricing? Should I haggle for lower payments?
Thanks in advance for your input!
#432 of 790 Question about Lease rates in San Diego
May 20, 2008 (11:04 pm)
My wife and I have been looking into an Edge for quite some time and we're thinking about pulling the trigger this weekend.
Specs are as follows:
Power fold down seats
We're in San Diego, CA 92122.
The local dealer has one in Vapor Silver. We didn't get into invoice, but...
sticker was $31,770...
He quoted us:
$2750 in rebates
$2,000 down, $299 per month, 36 months, 15k
This was without running our credit and using the xplan that my wife gets through work. When I told him I didn't want to put anything down, he said it depended on my credit -- maybe a safety deposit?? He also said that for every $750 less I put down my monthly payment goes up $20.
My wife and I both have decent credit, seven hundred and change. Do you think we'll qualify for the Red Carpet low lease rate? If so, what % is that? Residual?
Thanks in advance,
#433 of 790 Car_man - Current Edge Lease Info Please
Jun 01, 2008 (5:54 pm)
Hi Car man,
We're looking for the lease info on a 2008 Edge SEL or Limited in the Pittsburgh, PA area. We can do 10,500 miles per year for 24, 36, or 39 months. MSRP of the Limited we like is $36,140 and we have not negotiated a price yet. We're still in the info gathering phase so if you can give us an idea of a monthly payment it would be appreciated too. $34,965 is the MSRP of the SEL we like if that helps any.
#434 of 790 Re: 2008 Edge Limited AWD Lease [jga638]
Jun 01, 2008 (6:08 pm)
No one is replying out of kindness. In a word......no.
#435 of 790 Re: Question about Lease rates in San Diego [wufibug]
Jun 01, 2008 (6:34 pm)
That is a pretty good deal. Some thoughts though....
1. Never put money down on a lease. If you total it driving it off the lot you are out that $2,000. Put that money in the bank and pay your slightly higher monthly payment with it.
2. If it is a FWD Edge SEL and the current residual is 46% and MF is 2.25% then the dealer gave you an additional (approx.) $2500 off sticker plus rebates and your down payment. That is a pretty good deal but you could probably do better. The new incentives come out 6/30. I'd wait it out if possible. The deals will only get sweeter as the new model delivery date gets closer.
I got $350 per month, nothing down on a SEL MSRP $33K. They need your business more than you need a car this week. Wait until after 6/30 or let them come down even more on sticker.
#436 of 790 Re: Car_man - Current Edge Lease Info Please [baggs32]
Jun 05, 2008 (1:22 am)
Hi baggs32. Let's work up a lease payment on this vehicle for you and see what we come up with. You never mentioned its selling price, so for now I will assume that you will be able to get a $2,000 dealer discount plus the $1,750 lease cash that is available on it in your area. According to my calculations, if you were to lease a 2008 Ford Edge Limited AWD that has an MSRP of $34,965 and a selling price of $31,215 through Ford Credit right now for 24 months with 10,500 miles per year, your zero down, pre-tax monthly payment would be around $443. The payment for an otherwise identical 36 month lease would be around $428. The 39 month payment would be $420.
Prices Paid: Buying & Leasing Experiences Forum
#437 of 790 Car Man - Give me your thoughts
Jun 07, 2008 (4:10 pm)
Recent quote: Edge Limited AWD - Loaded - MSRP 38,520
Lease deal I was recently quoted in NJ is $250 under X-plan price - selling price was $35,900 - before 3,000 rebates (inclduing FMCC rebate).
36 month - 15K miles a year
Residual - 47% or 18,104
APR was 2.25 or .000933 money factor
Sales tax number looked a little high at $1,501. Is sales tax in NJ (7%) calculated off the selling price less residual or off MSRP less residual?
Monthly payment - $498 all in.
Money down was $1,617 which only included first month payment, doc and motor vehicle fees and bank acquisition fee of $595.
Let me know your thoughts on the deal? Is it possible to get bank fee removed? Should I wait till end of month to get better deal...Any thoughts would be appreciated.
#438 of 790 Re: Car Man - Give me your thoughts [madden01]
Jun 07, 2008 (7:14 pm)
If you negotiated a selling price of $32,900 and could qualify for the 4.9% financing through Ford for 72 months your payment would be $528. Only $30 more and you would OWN IT.
Don't lease this car for $500 per month. You could lease a BMW X3 for $475 easily. Take the traditional loan or walk away.
#439 of 790 Paging Car-Man
Jun 14, 2008 (4:06 pm)
I am hoping you can post the June money factor's and residuals for an 08 SEL Edge.
24,36 or 39 mos
10,500 miles a year.
Thanks in advance for your very valuable service.
#440 of 790 Ford Edge SEL (FWD) - need info for my parents
Jun 18, 2008 (9:54 am)
My parents are interested in leasing a 2008 Ford Edge SEL - no options. The MSRP is 29,020 with destination, and the invoice is 25,076 (inc. the 2K cash back). Are there any other incentives in the NY/NJ region, and should they aim for a price of less then the 25,076?
Please advise what the residual and money factor are for a 3 year, 36K mile lease. if you know July's rates that would be helpful too.
They are getting quotes of around 410/month (all-in), but I believe this seems high compared to what I've read on this forum. Thanks again...