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Ford Edge, Car Leasing, Car Buying, SUV
#50 of 778 Re: 2007 Edge Sel + Lease [advicepls]
by Car_man HOST
May 07, 2007 (2:58 am)
Hi advicepls. The truck that you described has a spread of around $2,500 between its full MSRP and its dealer invoice price. You are being given around a $1,500 discount on it, which is assume is before the $1,250 lease cash. This is a pretty good deal for an Edge SEL Plus right now. Furthermore, the lease rate that you were quoted is right in line with Ford Credit's base lease rate for this truck. You would be better off having the dealer cut you a check for any equity that you have in your trade rather than using the proceeds from it as a down payment for your lease (you risk losing it if your Edge is in an accident or stolen), but other than that this looks like a good deal to me.
Prices Paid Forum
May 09, 2007 (11:12 am)
Just picked up my EDGE yesterday. SEL+awd Black with charcoal leather. Vistaroof, rear sensors, audiophile sound, rear cargo management, and all-weather floormats. MSRP 34,485.
Selling price 32,365
36 mos, 15k/year
lease rate .5%
$0 down $0 due at signing
Would of liked a lower payment but they came up on my trade, so I actually walked away with some extra money in my pocket.
Love the vehicle! I was originally looking at the Mazda CX-9 but availability was frustrating. Really didn't need the third row of seats. Went back and looked at the Edge.... glad I did!!
Only complaint is that it was nice and clean till the birds in my neighborhood decided to "Hit" me a few times.
#52 of 778 Picked up my new EDGE SEL+ this week!
May 09, 2007 (6:24 pm)
First of all i would like to thank CARMAN and Carspace as it does a great service. THANK YOU!
here's my deal:
2007 EDGE AWD SEL+ Pewter clearcoat w/trailer tow package,all weather mats,vista roof,rear cargo system,18" chrome clad wheels,reverse sensors,sirius sat for 6 months,audiophile 6 cd 9 speaker upgrade
LEASE 36 MONTHS/ 12K MILES
Residual 53% or $18,463
Interest rate .5% or money factor .0002083
Selling price 33,000 (their invoice was $32,948, X-plan $32,891--$ 400 or so higher than edmunds invoice price of $32,489 because of FDAF/LMDA ASSESSMENT ? which i believe is advertising related?)
Cap Cost Breakdown: 33,000
+ $ 595 Acquistion fee
+$ 1111 Tax
-$ 1250 Ford Lease cash
-$ 1090 Cash down
$32,366 Cap cost
(32,366- 18463=$13903 divided by 36 months= $386 a month
(32,366 + 18463 = 50,829 x .0002083 = $10.59
$396.59 A MONTH
First month's payent 396 + tire 7.50+ title 365 + 141 doc fee = $910 + 1090 cash down = $2,000 at signing.
I know they advise to put 0 money down but in my head i want a payment under $400 a month!
This deal also included dealer taking back my 2004 mountaineer with 1 payment of 338.00 left and also had an add-on of $495 Appearance Package which entails pinstriping and extra door and wheelwell moldings. (which does make it look sharper)
Overall a pretty good experience, dealer let me take car home overnight to throw wife and kids in it. Went back and forth the next day with G.M. and finally hammered out the deal. I'M satisfied and THE EDGE DRIVES GREAT. I HOPE this info will help others as i know i checked this site quite often. I'll post a review on edmunds after 1, 000 miles . PEACE.
#53 of 778 after further review...
May 09, 2007 (7:07 pm)
I have been checking out this forum for awhile. I leased my Edge on April 27th and got a GREAT deal. Some of you guys could have/should have done better. The last 2 posts especially make me feel like I totally robbed my dealer blind. Edge SEL Plus, MSRP $32,690. 36 month lease, 10,500 miles per year, nothing down except 1st payment, $349 per month. The 12,000 miles per year would have been around $12 more. Still, I think some of you guys should have held out a little longer and got a better deal. Especially the guys who put cash/trade money down. The last poster's deals would have been pretty good if he wouldn't have put any money/trade down. To each his own, personally though, I wouldn't pay more than $400 per month on any Ford Edge. I love it for what I paid for it, but let's face it guys, you could lease a BMW X3 for about $425-$450 per month.
#54 of 778 Re: after further review... [chuck68516]
May 10, 2007 (5:57 am)
Yeah, I hear ya. I could've done better, but the sticking point in my deal was the amount they gave me for my trade which allowed me to walk away with a considerable amount of $ in my pocket. Plus the dealer only had 8 on the lot and mine was the only one in the area that had the options I wanted.
Look at the fine print in some of those BMW lease adds... 4k down and only 10k miles a year. not gonna work for someone who needs 15k and doesn't want to put anything down. Me, I'll take the cash back and pay off my college loans! But like you said to each his own.
#55 of 778 Re: after further review... [chuck68516]
May 10, 2007 (7:26 am)
hi chuck, i don't mind being criticized but your #'s are kind of screwy. first you say $195 acq fee then it's $595. a selling price of 28,724 is $ 1800 under invoice. is 28,724 your revised cap cost?(like 30,474-1250 lease cash - 500 loyalty cash=28,724 because 28,724 is a crazy selling price? but lets say it was and you added the $595 acq fee to make 29,319-residual of 17653(54%)=11,666/36=$324
$324+ $9.5(.5 interest)=333.50 say tax = 6%(? may be higher)=$20= $353.50 plus where are your motor vehicle fees at? somethings askew?
BUT HEY I'M HAPPY WITH MY DEAL! PEACE
#56 of 778 Re: after further review... [rwheiler]
May 10, 2007 (2:36 pm)
Nothing's askew. Meant DOCUMENTATION FEE Not ACQUISITION FEE. DOCUMENTATION. Yes, they added the ACQUISITION FEE, say it together with me, ACQ-UIS-ITION FEE of $595. My sales tax is 7% and I have never been required to pay any DMV, registration fee on any of my leases EVER. They simply put a temporary tag on your windshield and you have 30 days to go down and pay the fee at the DMV. I don't even think you can do it the other way.
If you need someone to explain how not to get #$%*-ed let me know.
I'm glad you are happy with your deal, I WASN'T attacking your deal, just saying because of deals like your's, I am EVEN HAPPIER with my deal.
#57 of 778 Re: after further review... [rwheiler]
May 10, 2007 (2:49 pm)
By the way, just to clarify, you also get an extra % point on the residual for the 10,500 miles per year.
#58 of 778 Re: after further review... [chuck68516]
May 10, 2007 (3:16 pm)
yeah the extra point was added by me,look closer 54% and your # still doesn't jive. pull out the contract and post you #'s cause your $349 don't jive and it would be a DISSERVICE TO PUT UP FAKE NUMBERS. 7% tax adds another couple of dollars than i show. PEACE
May 10, 2007 (3:42 pm)
MSRP = $32,690
Gross Cap Cost = $28724.84
Residual = $17,325.70 (53%)
Aqusition Fee = $595
Depreciation = $11,399.14
Rent Charge = $342.98
Total of Base Payments = $11,742.12
Lease Payments = 36
Base Payment = #326.17
Sales Tax = $22.83
Total Payment = $349.00
Total of ALL Monthly Payments = $12,564.00
I asked the dealer if he could beat another dealer's price quote of $349.22 on a similar vehicle. This is the deal that I got. THEY BEAT IT BY $0.22. The numbers are weird because they were trying to beat the $349.22. They have to be to get a payment of EXACTLY $349 and NO CENTS.
What's the mystery?