Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
SUVs Ford Edge Ford Edge: Lease Questions
520 messages, Last post on Nov 12, 2009 at 3:41 PM
You are in the Ford Edge Forum. Your Hosts are steve_ & tidester
|
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. |
|
|
|
|
Replying to: wnuk (Oct 23, 2009 8:29 am) My advice is to shop around. The higher the MSRP, the lower they can go on sale price. (more money to play with). So on your Limited you better get a ton off that price. Go to the highest volume Ford dealer in your area. Tell them upfront that you do not want to mess around. Tell them you want their best sale price and it better be well below invoice and then you want the rebates deducted on top of that. Worst case scenario is they say they can't do it. Some states LIMIT the amount a dealer can charge for a document fee and some states do not regulate it at all. I personally limit it to ZERO dollars as it is just extra dealer profit and every dealer who charges it will gladly waive it if you ask. It's just paper. Why should I pay $199 for paper? What's next, they charge you a light fee for sitting in the office with the flourescents on? A chair fee for waiting for 30 minutes for the finance guy to get his papers shuffled correctly? An ink pen fee for having to use their ink to sign the contract? Etc, etc, etc. They are already charging you for all this stuff. It's called selling you a vehicle. McDonalds doesn't sell you a Big Mac and then ask you to buy the container for an extra dollar and napkins for 50 cents each and another 50 cents for the bag. All that should already be figured into the price of the Big Mac.
|
|
|
Replying to: rockymtnwulf (Oct 22, 2009 9:27 pm) |
|
|
Replying to: chuck68516 (Oct 23, 2009 11:34 am)
|
|
|
|
|
Replying to: wnuk (Oct 23, 2009 8:29 am) No money down. Rebates are applicable just like X Plan pricing. Sales tax is 6% here. I called the dealership and told them to forget it. I just don't get it, the way the market is - why are they still playing their damn games. It is getting annoying. This dealership is about 40 miles from me. There is a dealership extremely...A LOT closer - a couple of miles away. I went to them first and I was told... A Ford Edge lease is approximately $700 - $800 per month. They told me it is that high because Ford is not in the leasing business and rather you finance the vehicle than lease. So Ford keeps their lease rates high to prevent people from leasing. WTF?!?! I have a car - a fairly new one. I want (don't need) a bigger and more comfortable ride. The Edge met my needs but I will not play their games and I really don't feel like playing these games anymore.
|
|
|
|
|
Replying to: cey1 (Oct 23, 2009 2:11 pm) |
|
|
|
|
Replying to: chuck68516 (Oct 23, 2009 11:34 am) Was any extras thrown in such as Wear Care, Acquisition Fee? |
|
|
Replying to: rockymtnwulf (Oct 25, 2009 5:10 am) Just by getting rid of the wear care and using 6% sales tax I come up with a payment of $481.17 per month. Funny you should mention about the first Ford dealer you went to. First thing- he is badly mistaken and sounds like he just doesn't want to deal with leasing a vehicle. Secondly, I went to a Ford dealer on Tuesday this past week to get leasing prices on an Edge he had on the lot. I still have yet to hear back from him. A dealer like that won't get my business. I agree with you, as bad as it is in the auto industry right now, I'm amazed how some dealers still treat people. With the advent of the internet, so many more people are educated on car buying yet dealerships still come up with some crazy numbers sometimes. On the other hand- I have also been getting lease prices from Chevy dealers on a new Traverse. Two dealers have been bending over backwards to get me the numbers I want- once they realized I can calculate my own figures using their pricing, residual, and money factors. Heck, I just had a sales manager yesterday admit to me he didn't know chevy was leasing again and he e-mailed me this morning (Sunday morning mind you) saying he is calling GMAC on Monday to get all their leasing info, he doesn't even have it. He did tell me that if the numbers I gave him are correct (they are based on another dealer I'm working on), he should be able to do the deal I'm looking for.
|
|
|
Replying to: wnuk (Oct 25, 2009 9:10 am) 27 Month lease rate with 10,500 miles per year Residual of $53% Money Factor is .0001 (.25%) $2250 Red Carpet lease rebate 36 Month with 10,500 miles per year jumped to Residual of 50% Money Factor of .00166 (4%) $2250 Red Carpet lease rebate. I asked about the rebate as Edmunds.com is showing this additional rebate: "$1,000 Promotional bonus cash is available towards the purchase of a new 2010 Edge. May be combined with other cash programs, APR or lease specials." edmunds rebates I was told there is nothing showing on Ford's end about this, only the $2250 Red Carpet Lease rebate. Anyone have any idea or knowledge of the $1000 rebate being shown on edmunds?
|
|
|
Replying to: wnuk (Nov 09, 2009 10:57 am)
|
|
You are here:
Forums
SUVs Ford Edge Ford Edge: Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Ford Edge
Browse by Board
Browse by Topic
