I already have a 2014 Ford Edge Sport (I like the car, go figure) and I’m trying to get myslef into a new one so I’ve talked to a local dealership and we’ve worked out some numbers. I basically told the dealer to beat my last lease numbers on a car with higher MSRP. That was on friday I did this and then I found this site and my mind was a lil’ blown… so I’m trying to figure out if my potential deal is good or not
HELP.
Here’s some background info.
Old Lease:
$3,500 down
35 payments of $386
New Lease (in negotiations):
$3,500 down
35 payments of $379
This new lease has a higher MSRP vehichle with a lower lease payment (same Down).
I’ve provided a pict of the computer monitor provided from the dealership that I Hope gets uploaded so you can see the details of the deal. If not I’ll provide a link to the image on dropbox.
Being Naive in the lease game, that’s the reason for putting money down.
The sales manager I got this screenshot from didn’t have an answer to “Does ford do Multiple Security Deposits?” question. She said I think we do but I’m not sure. She was going to get back to me about it.
I can restructure the $3,500 from a down into MSD’s.
Questions how many MSD’s should I put down? How much would that be?
Dug a bit further and called Ford Finace directly and they said Ford Credit does in fact do MSD on leases.
They would talk to the Finance person at the dealership directly to walk em’ through it when we close the deal. This sound interesting, I’ll go into it further when I go down there and finish this deal.
That is not terrible, but because of how interest on leases is calculated (cap cost plus residual times MF), lower is better. The more expensive the vehicle, the more impactful using MSDs to lower interest rates. Mercedes is around 0.00100 (2.4%) depending upon model, while Volvo has many vehicles with 0.00001 (0.02%).
