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Prices Paid: Buying & Leasing Experiences 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
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Replying to: chuck68516 (Oct 15, 2009 9:54 am) You better jump on it! What area do you live in? I would like to know what interest rate and residual value they quoted you. I'm in the Cleveland, OH area and I was quoted WAY higher even with A Plan.
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Replying to: chornie (Oct 15, 2009 10:13 am)
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Replying to: chuck68516 (Oct 15, 2009 11:10 am) Here in OH it is 49% residual, 1.00% rate and higher tax...big difference! Enjoy your new Edge! |
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| Does anyone know what the residuals and rate are in the Atlanta Area for a SEL? Also what are the incentives? | |
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Anyone know what the residual and money factor for an SEL AWD in Northeast Pennsylvania are? Also- Ford has so many incentives and I'm not sure which are available on their Red Carpet Leases. Would like to know for both 27 and 36 month leases. Thanks |
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Replying to: chornie (Oct 02, 2009 7:39 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: varick222 (Oct 06, 2009 5:22 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: kinng (Oct 07, 2009 7:36 pm) As I said earlier, once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". If your vehicle's purchase price is less than or similar to its current value on the open market then you may want to consider buying it. If not, walk away. As far as how much a similar new Edge would cost to lease, I would be happy to work up a sample lease payment for you if you provide me with the MSRP and approximate selling price of the truck that you're interested in. You can find that information over in the New Vehicle Pricing section of Edmunds.com. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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I have a question about a Ford Edge 2010 lease "deal"... 2010 Ford Edge Limited FWD MSRP: $38,915.00 Z Plan Pricing: $35,000.00 (I am not sure what the actual price is) Doc Fee: $275.00 (I thought this was max $75) Title, License: $400+ (They are not sure of the actual amount but will charge this and if it is less, I will get a refund) Wear Care: $675.00 (I think this was the actual price) Acquisition Fee: $595.00 Rebates: $3,500 39 month 10,500 $537 per month for 39 months Residual is 47% Interest Rate/Money Factor 4% This "deal" is in Central Florida. After they told me one price and then I met with Finance to sign the papers, the price was different - higher of course. Even though I was told by the salesman the price included tax, finance told me the price went up because tax was not included. I asked to see all the numbers. The finance person became very sarcastic and started belittling me, she was also rolling her eyes and making a lot of movements - very unprofessional. She started reading off the prices from her computer screen and tilted the screen so I could barely see it. To get the price back to the original quoted price the salesman gave me, finance changed the warranty to 36 months to leave me without a warranty for the last 3 months of my lease. I took out my phone and started searching the web to show them how I believed the Doc Fee is only supposed to be $75. The salesman came into the finance office as I was searching and wanted to know what I was doing. I told him and he became irate. The salesman and finance woman mentioned how I can trust them and I am getting a sweet deal. They are not making a profit - they are losing money. When I mentioned the spif(?) check, I was told the dealership gets that and they are personally losing money by putting this deal together. They told me if I don't sign tonight, I could forget the deal. So, I got up and left. The salesman called me 20 minutes later asking me to come back tomorrow night. Questions..... 1) Is this a good deal? 2) Do I have to take wearcare? 3) Why am I being charged for a warranty? 4) Shouldn't I be charged the exact amount for registration and license fees? 5) What is the Residual and Interest Rate/Money Factor for Florida. I have good credit if that makes a difference. 6) Isn't the doc fee supposed to be $75? 7) What is Acquisition Fee? Thanks in advance!
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Replying to: rockymtnwulf (Oct 22, 2009 9:27 pm) 1. Is "Z" plan pricing the price the dealer would give you on the vehicle before any rebates? 2. Did you put any money down? 3. Are rebates applicable to "Z" plan pricing or do you just get the "Z" without rebates? 4. What is the sales tax rate percentage in Flordia? I'll use your provided numbers, make some assumptions and detail the lease calculations below: Known Factors: MSRP: $38915 Residual: $18290 (MSRP multiplied by 47%) Money Factor: .00166 (4% divided by 2400) Toal Dealer fees: $1945 (Doc fee $275, Title $400, Wear Care $675, Acq. fee $595) Selling price of vehicle: "Z" plan pricing $35000 minus Rebates $3500 = $31500 Depreciation Value: (amont of vehicle you will lease) Selling price ($31500) plus dealer fees ($1945) minus residual ($18290) =$15155 Depreciation Payment on Lease: Depreciation ($15155) divided by 39 (length of lease in months)= $388.59/month Interest Payment on lease: Selling Price ($31500) plus residual ($18290) multiplied by money factor (.00166)= $82.65 per month Base Payment on Lease: Depreciation Payment ($388.59) plus Interest Payment ($82.65) = $471.24 per month Sales Tax Payment: (I am using 9%, that's what it is here in PA) Base Lease Payment ($471.24) multiplied by slaes tax rate (.09) = $42.41 per month Total Lease Payment: Base Lease Payment ($471.24) pus Sales Tax Payment ($42.41) = $513.65 per month These calculations assume you can use rebates and a sales tax rate of 9%. It also assumes you put no money down. If you put any OOP, deduct it from the selling price of the vehicle. I'm not sure on the Wear Care, I personally would not accept it. If you choose not to, deduct it from the dealer fees listed above to refigure the payment. One more thing to check is I was told by a dealer here in PA just yesterday that the residual on a 10,500 mile lease of an Edge SEL AWD was 50% and not 47%. 47% was for a 15K a year lease. This is becuase of the lower miles the vehicle would have at the end of the lease. Hope this helps some. |
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