Why do you want to roll your negative equity into the new lease? The dealer isn’t “absorbing” the remaining payments, they’re just adding it to your new lease. You’d most likely be better off riding out the rest of your lease and starting with a clean slate in 6 months…
I’d rather not roll anything over, I was under the impression Ford had some early lease return offers but doesn’t seem the Edge is part of that program right now.
“I have 6 months remaining on my Ford Edge $575 monthly payment…Monthly Payment: $686.68…My goal is to sign and drive and get at or below my current lease payment.”
You currently pay $575, your new payment is $686. Goal not achieved.
I am in the same boat, several payments left and upside down on current lease by several grand due to huge overmileage. I had thought of rolling it but abandoned the idea because I don’t want that baggage on my mind for the next three years, so instead I am going to out of pocket to terminate current lease, and up miles on my next so that I’m back to a level playing field.
I think in most cases the lease pull aheads are not from manufacturers and instead from dealers, in which case they will nail you in some other way to cover it.
Unless you come up with that $3500, you won’t get down to current lease payment.
As others have said, ride it out. The Explorer isn’t going anywhere and it makes 0 sense to continue down the same fiscally irresponsible path of rolling in negative equity simple because you want a new car.
The Explorer might not be the best choice either. It failed an important crash test recently. The Acadia usually leases rather well. Combined with the $700 Costco Cash card promotion that GM usually has in the holiday season, it will definitely lease better than this atrocious offer on an Explorer.
Thanks for the feedback everyone. Outside of my lease are the $550 figures achievable with no money down? Or could they be better? I know the discount off the MSRP could be better as well.
You can get the same type of car, with the same or better features, for much less. Take a look at the market page. QX60 is in the mid 300’s. A Volvo, XC90 or BMW SUV can be had for that payment. If it was me, I would do some more research and look for a better value.
Terrible deal, plus you have to put money down, which runs counter to your stated goal. General rule around here is never put money down and only pay what you absolutely have to pay to drive the vehicle off the lot.
Ride out the lease and then if you want to lease a similar size SUV for cheap, check out a QX60 or Grand Cherokee, you can get those for under $400/month, and well equipped at that.
