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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
Car Man or anyone - I could use some help with a lease proposal on 2007 Edge SEL Plus with Nav and Vista roof. MSRP 34375 after using X-Plan adj, cap cost is 33273. Dealer added in $690 security deposit is this optional - actually he charged it as the Wear Care program? and also added in $595 acquistion fee. .50% rate and residual factor of 50% with 15,000 miles. for 36 mos. Mo. payment is $491.19. No out of pocket and no trade-in just the $1250 cash applied. I think this seems high based on what I have read others have gotten in this forum??
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Replying to: kat123 (May 12, 2007 12:23 pm) |
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Replying to: kyfdx (Jan 02, 2007 6:57 pm) MSRP = $32,690 Gross Cap Cost = $34,424.78 Residual = $19,485.90 Acq Fee = $0 "waived" yeah right, more like hidden elsewhere Depreciation = $13,200.81 Rent Charge = $1,944.03 Total of Base Payments = $15,144.84 Lease Payments = 36 Base Payment = $420.69 Sales Tax = $25.24 Total Payment = $445.93 Trade-in = $1,500 Rebates = 750 Total of ALL Monthly Payments = $17,857.55 With all my homework, calculations, plans, it seems I still got messed over. The highlight would be that I spent no money and left with my car, IF you can call that a highlight. |
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I hope that I have all the pieces to the puzzle of leasing because I need to make a quick decision. I've read the Edge thread forward and backward but still can't decide if this is a deal worth signing. Here are the numbers: Edge Sel+ Sticker: $30,865.00 Rebates and Incentives: -$2,000 Cap Cost: $29,464 Lease Term: 36 months Lease End Value: $15,332.00 Residual: 53% Money Factor: .5 Base Monthly Payment: $352.00 Sales Tax: 6% Monthly Payments: $373.00 The salesman wants me to give $1000.00 at signing to cover first months payment, tag, taxes on something I can't remember, taxes on the rebates and incentives, plus whatever else is considered inception fees. Any left over money is, I guess, considered money down, which I know is a no no. Can someone please tell me if this is a deal worth signing? Thanks a million!!
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Replying to: discover3 (Jun 04, 2007 2:43 pm) A: isn't 53% of $30,865 = $16,358.45? B: You don't pay taxes on rebates or incentives. Inception fees due at signing should only be an acquisition fee, documentation fee, and first month's payment. Waive the Wear Care Program (security deposit) it isn't required and is pretty much a rip off. C: If the Sticker is $30,865 and cap cost reduction (rebates) is $2000 CAP COST SHOULD BE $28,865. If they are adding in acquistion fee, documentation fee, security deposit (Wear Care) to make the CAP COST TOTAL $29,464 then they shouldn't be asking you to pay it all again (the $1,000 you were talking about at closing). I would seriously challenge some of these tactics. They can play "shuffle the numbers" all they want but YOU need to decide what makes sense and after reading that, I don't think much of it does.
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Replying to: chuck68516 (Jun 04, 2007 2:57 pm) However, when I plug in your numbers: Cap Cost: $28,865.00 Residual: $16,358.45 I come up with: Base Payment: $347.40 Monthly Finance Charge: $9.42 Tax: $21.40 Total Monthly Payment: $378.22 Which is more money than the $373.98 the salesman quoted me. Perhaps the only discrepancy is the $1,000 and what it is used for?? In any case, aside from the fact that some of the salesmans explanation sounds weird, is the final monthly payment, with tax, of $373.98 reasonable? Thanks again!
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Replying to: discover3 (Jun 04, 2007 4:28 pm) However, I was able to whittle them down to $349 per month on a SEL+ MSRP $32690. I would shoot for that if possible. Good luck. And don't get the Wear Care.
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I'm looking to lease a 2007 Ford Edge SEL+ with leather seats, trailer tow pkg, vista roof, cargo mgmt, reverse sensing system, 18" wheels, sirius, 6-CD changer. Invoice is $31,383.85. I'm already over my mileage on my current Ford lease which terminates in October, so I want to get out early and Ford will pay my last three payments owed. On my initial visit to a local dealer in Florida, I was quoted the following: $1750 cash incentive; 15,000 miles; 39 months at $416.97 per month plus tax of 29.19 per month for a total of $446.00 per month. Initial payment due at signing. After reading what others are paying, I'm realizing that this is NO deal which really irritates me since I'm returning to the same dealer I leased my current car from. How should I factor in the fact that Ford is paying the last three payments of my current lease plus (hopefully) paying my overage miles? What would be considered a good deal in this situation? Thank you!!
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Replying to: mallratt (Jun 06, 2007 5:39 pm) |
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Replying to: buffalo78 (May 09, 2007 10:12 am)  . Car_man Host Prices Paid Forum |
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