I wanted to provide a quote received on a 2018 Ford Edge SEL and kindly ask for further guidance. I don’t believe the quote is that great. Details from the dealer:
D- plan price is $39,235.37
Current rebates (we currently have 3 certificates that we can give to a customer that buys an Edge. They are worth $250 each) with the 3 certificates is $5,750
Just FYI we give those out first come first serve. So if someone buys an Edge before you guys decided the price would be $750 higher
Int rate is 1.65%
Payment with tax would be $436.71
This is with 10,500 miles per year and you paying 1st payment and license and title fees.
[2018 Ford Edge SEL] (https://www.maguiresduncannon.com/new/Ford/2018-Ford-Edge-4f76e56b0a0e0a1743487e6b10cdd4e0.htm?searchDepth=1:4)
Thank you for any input!
We need more details - Term, Fees, Tax rate, etc.
Also, did you confirm the money factor and residual from edmonds to make sure it isn’t being marked up?
36 months / 10,500 mi year
Pennsylvania
From Edmunds
MF .65% and RV 48%
$5000 lease cash
Well, right off the bat they are marking up the interest a full point.
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Further details from the dealer:
The figures on the web site are for a purchase. The deals differ between a purchase and a lease.
The $500 conditional offer is an owner loyalty program but you must currently own a ford vehicle.
The D-plan price of $39,235.37 is before the rebates. That price is actually $1,396.00 under dealer invoice. That is the price that a Ford dealership employee gets to buy for. Ford then pays the dealership to handle the sale since you are buying it under cost. That’s why each employee only get 2 of those a year. I just double checked rebates and I actually had them incorrect. They are only $5,500 and not $5,750. Those rebates include college grad and 3 certificates that we still have. The certificates we earned from ford last quarter and are essentially bonus discounts that we can offer customers. They are not advertised by Ford anywhere.
The rate of 1.65% is actually very low. Going rate on a car loan is about 4%. So Ford is buying the rate down to make it that low.
After the D-plan discount and the rebates the actual cost is only $33,735.37 That’s $10,149.63 off of the original pricing before discounts and rebates.
We don’t have any additional room to discount off of d-plan pricing.
The correct payment is actually $444.46 with the rebates adjusted to the correct number of $5,500
Sounded like this dealer went as low as he was willing to go. Were you able to find someone else willing to beat the price? What did you end up doing?
