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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

What is this discussion about? Ford Edge, Car Leasing, Car Buying, SUV


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#482 of 520
Re: 2009 Edge LTD [Car_man] by elliemaej
May 15, 2009 (3:52 am)
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Replying to: Car_man (May 15, 2009 2:30 am)

Thanks CarMan, my lease is not up until Aug but my dealer sent me a postcard that they will take it back 2 payments early. I really like my Edge and would like another one. The residuals and lease rate dont seem as good as when I leased but it could have been because it was so late in the model year.
Now I need to dig out my old lease spreadsheets from my as last least and plug in the new numbers.
Thanks again.
#483 of 520
Why to NEVER put money down on a lease by hardhawk
May 15, 2009 (6:43 pm)
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What happened to us is a classic example of why one should never put any significant money down on a lease. We put zero down on our 2008 Edge Limited lease in November of 2007. The Edge was flawless and we really liked everything about it. Late last month we had a house fire and the Edge was in the garage, going up in flames. Had we made a down payment in order to reduce the monthly payments, we would have lost that money when the Edge was destroyed and our insurance would have had to pay less. As it is, our insurance is "buying" the Edge and thus the lease is paid off and we will have payment from the company for sales tax and registration fees. Zero out of pocket costs plus no lost down payment.
 
#484 of 520
Re: 2009 Edge LTD [elliemaej] by Car_man HOST
May 18, 2009 (1:48 am)
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Replying to: elliemaej (May 15, 2009 3:52 am)

No problem elliemaej. Unfortunately, in general the residual values that are available today are not as attractive as the ones that were available several years ago. For a period of a number of years, banks were overestimating vehicles' future values. Things started to get bad when gas prices exploded last summer, which took their toll on the resale value of all trucks. As the recession began to grip the economy this weakness in resale values gripped all used vehicle prices. The banks that are heavily involved in leasing are being forced to take huge charges for their residual value exposure. As a result, they are much more conservative today with their resids.
 
Good luck in your quest for your new ride. Let us know if you have any other questions and how things turn out.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#485 of 520
Re: 2009 Edge LTD [Car_man] by elliemaej
Jun 02, 2009 (5:21 pm)
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Replying to: Car_man (May 18, 2009 1:48 am)

Hi Car Man, I was wondering if you know if the rates and residuals have changed now that we are in June. It seems that the incentives have gone up.
The stock of Edges is pretty high in my area so I am hoping for a good deal.
If you could give me the rate and residuals for 36/12k for the SEL and Limited Trims in both AWD and FWD, that would be great.
#486 of 520
Re: 2009 Edge LTD [elliemaej] by Car_man HOST
Jun 05, 2009 (3:04 am)
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Replying to: elliemaej (Jun 02, 2009 5:21 pm)

Hi elliemaej. I have seen Ford's June lease program. Unfortunately, it varies by region. For now I will take a stab in the dark and guess that you are in the NY area. Let me know if you want the program for somewhere else.
 
Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 Ford Edge SEL or Limited AWD with 12,000 miles per year in its NY region are 1.25% and 44%, respectively. The numbers for an otherwise identical lease of an '09 Edge SEL or Limited FWD are 1.25% and 43%.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#487 of 520
Re: 2009 Edge LTD [Car_man] by elliemaej
Jun 16, 2009 (7:27 am)
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Replying to: Car_man (Jun 05, 2009 3:04 am)

Thanks CarMan, I do believe that CT falls into the NY area but not 100% sure. I have notice lately that 2010 models are showing up in the online inventory of some dealers. Have any 2010 lease rates been announced yet?
#488 of 520
Early Bird Lease return by elliemaej
Jun 22, 2009 (5:12 pm)
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I received an postcard from Ford stating that I can return my lease early (2 months).
When I went to the dealer today to discuss my options, he stated that mileage would be prorated. For some reason,I was under the impression that they didnt do that. Can anyone confirm this to be true?
My only reason for returning the car early was to avoid the over mileage fees.
I will wait until the end of my lease and pay it then.
#489 of 520
Re: 2009 Edge LTD [elliemaej] by Car_man HOST
Jun 29, 2009 (4:44 am)
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Replying to: elliemaej (Jun 16, 2009 7:27 am)

You're very welcome, elliemaej. Yes, Ford actually just introduced a special lease program on the 2010 Edge late last week.
 
Ford Credit's current base lease rate and residual value for a 36 month lease of a 2010 Ford Edge SEL or Limited AWD with 12,000 miles per year in its NY region are 3.25% and 46%, respectively.
 
Ford is currently providing a $1,000 cash incentive on leases of this model.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#490 of 520
Re: 2009 Edge LTD [Car_man] by elliemaej
Jul 03, 2009 (3:48 pm)
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Replying to: Car_man (Jun 29, 2009 4:44 am)

Thanks for the info CarMan. I ended up with an '09 SEL w/ Sync, Auto Lift gate, Leather and Sun Roof.
X-plan price. The dealer took back my lease 2 months early ('07 Edge SEL +, 24 month)and they ate my overmileage.
I ended up buying because the leasing was not very attractive (compared to 2 years ago). I was able to get the 0% for 60 months.
I am happy with my new Edge, so far. Not too many changes from the '07.
#491 of 520
Re: 2009 Edge LTD [elliemaej] by Car_man HOST
Jul 06, 2009 (2:06 am)
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Replying to: elliemaej (Jul 03, 2009 3:48 pm)

No problem, elliemaej. Thanks for letting us know how everything turned out. It sure sounds like the dealer bent over backwards to get you into a new Edge. If you had a pleasant dealer experience, you can tell others about it over in the Dealer Ratings & Reviews section of this site.
 
You can't argue with 0% financing for 5 years. If I was in the market for an Edge, that's probably the way that I would go. Enjoy your new ride !
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

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