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Ford Edge, Car Leasing, Car Buying, SUV
#548 of 778 Great Deal in The San Fernando Valley
May 13, 2010 (2:50 pm)
Galpin on Roscoe can't be beat - Blew Vista near where I live away. Vista was 545 a month, that was "the best they could do".
2010 Edge Limited
3 year 31,500 mile lease (10,500 per year)
This is what Galpin, over the internet negotiated.
They took 1,000 off from a Ford friend (search the internet for a PIN #)
They took 3,000 off for cash back
They gave me an extra 2,500 off
Total rebates: 6,500.00
Then they took 2K off the cap cost (how, I don't know, maybe someone can tell me, but my paperwork says 37,734.92 on a 40,095.00 sticker)
I put 2,600 down.
The 40,095 car was now 30,378.33
Leased for $475.00 per month
Here's the out of pocket:
First Mo Payment: 475.00
tire fee 8.75
Upfront taxes 721.66
DMV filing fee 29.00
Doc Fee 45.00
Residual value 19,243.20
For the SAME car, Vista couldn't go below $545.00. Galpin did it for $475.00. Saved myself $2,520.00 over the course of the lease.
I hope I did good.
#549 of 778 Re: Great Deal in The San Fernando Valley [bgk99]
May 23, 2010 (6:40 pm)
What features/packages did that 2010 Edge Limited have? Given that the price initially went up to $40K, I'm guessing it has the panoramic vista roof, leather seats (I think that's standard with the Limited) and nav system? I'm looking at about the same thing, and want to call Galpin for a similar quote.
#550 of 778 Ford Edge Lease
Jun 23, 2010 (3:36 pm)
is now a really good time to lease a 2010 Edge? my old lease is up so i've been getting quotes. $0 down, base model, no extras, 36 mo. 10.5k/mi yr. quotes are coming back around $355/mo (inlcuding tax). this is about $40-50 cheaper a month than the last time i got quotes 3 months ago. what has changed? Also, is it alway better to go with a 36 mo lease vs. 39 mo? any feedback is much appreciated.
#551 of 778 Re: 5500 off msrp [Car_man]
Sep 05, 2010 (12:44 pm)
Howdy, Car_Man.... My aunt is looking into an SEL AWD (I heard about a 5500 rebate on the limited - any truth to this? She may jump on that, depending), either 2010 or 2011 (depending on stock on Long Island, NY), so I'd appreciate lease numbers for both 2010, and 2011, and both 24 and 36 month leases. Thank you very very much!
#552 of 778 Re: 5500 off msrp [peteyboy30]
by Car_man HOST
Sep 07, 2010 (2:53 am)
Hi peteyboy30. Ford is currently providing a $4,250 cash incentive on leases of the 2010 Edge in your aunt's area. In addition to that, it has a $1,000 conquest cash offer for current owners of non-Ford products in that area as well...for a total of $5,250.
Ford Credit's base lease rate and residual value for a 24 month lease of a 2010 Edge SEL AWD with 15,000 miles per year are 0.25% and 51%, respectively.
The numbers for an otherwise identical 36 month lease are 3.5% and 45%.
As far as the 2011 model goes, Ford is providing a $750 cash incentive on leases of the '11 Edge in your aunt's area, again plus the aforementioned conquest cash.
Ford Credit's current base lease rate and residual value for a 24 month lease of a 2011 Edge SEL AWD with 15,000 miles per year are 0.25% and 60%.
The numbers for an otherwise identical 36 month lease are 3.75% and 55%.
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#553 of 778 2011 Ford Edge Limited - Lease Questions
Sep 15, 2010 (4:18 am)
I just went to my local Ford Dealer and test drove the new 2011 Edge. I absolutely love it. We crunched some #'s and I was wondering what you all think.
I am looking to lease the 2011 Ford Edge Limited with the 301A package. Base MSRP for the car is 36,995. We worked it out give me 2750 in dealer rebates, 4% APR, 52% residual and with 4,000 down the total monthly payment for the car would be $449 a month. Does that seem high to anybody with 4k down?
I just dont understand how my sister has a fully loaded acura tsx at 37K MSRP and only pay $405 with no money down a month. Also, my friend just picked up a fully loaded maxima with no money down and paying $409 a month. How is it that my monthly can me so much higher with 4k down?
#554 of 778 Re: 2011 Ford Edge Limited - Lease Questions [jsabia85]
Sep 15, 2010 (2:31 pm)
Out of curiosity on your 2011 ford edge lease, How long was the term of the lease and how many miles per year were included ?
#555 of 778 Re: 2011 Ford Edge Limited - Lease Questions [jsabia85]
Sep 15, 2010 (3:07 pm)
The Edge has a lower residual value and a higher money factor (interest rate), so the money you pay goes towards a bigger loan. A typical lease loan is generally made up of three things: depreciation, interest and taxes. The depreciation is made up of the difference between the agreed upon sale price and the residual value. Therefore, a high residual value and a low sale price yields a smaller loan. Then you factor in the money factor or interest. Then, depending on which state you live in, you take that number, divide into your term (generally 36 months) and add on the sales tax.
Cars like the TSX have amazing residual value, AFHC also charges fairly low interest on their leases plus they give pretty good discounts. Thats the best formula for low payments. The Maxima has a decent residual, but Nissan isn't charging a lot of interest on their leases plus they are discounting the Maxima like mad. That is why your friend and sister can get so much car for so little money.
Lesson here is that not all cars lease the same, so you need to do your homework. Ford cars aren't very strong when it comes to leasing, so I as much as the Edge intrigues me, I don't think leasing would be wise.
#556 of 778 2011 Ford Edge money factor and residual question
Sep 15, 2010 (7:55 pm)
Can you please supply the current residual value and money factor for a 2011 Edge Limited with 301A package and 15,000 miles per year. I am open to 24,36 or 39 month lease. I saw that you had provided info in a post earlier, however I am having a hard time converting the 0.25% interest rate to the money factor so that I can figure out what my payments should be.
Thanks in advance
#557 of 778 Re: 2011 Ford Edge money factor and residual question [scoot84]
by Car_man HOST
Sep 17, 2010 (3:35 am)
I'd be happy to help you out, scoot84. Ford Credit's September base lease rate and residual value for a 24 month lease of a 2011 Edge Limited AWD with 15,000 miles per year are anywhere from 0.25% to 1.25% and 60%, depending upon what part of the country you are in.
The numbers for a 36 month lease are 3.75% to 5.5% and 55%.
The numbers for a 39 month lease are 4.0% to 5.75% and 53%.
You can convert these lease rates into approximate money factor equivalents by dividing them by 2400. So for example, a lease rate of 0.25% would be equivalent to a money factor of around .00010.
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