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Keep or Get New Edge At The End Of My Lease


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Hi There,

Newbie here!!! I checked several of the catagories but could not come up with the right place to post this topic! So, I apologize in advance! :-)

 

Quick question...Hubby and I leased the '07 Edge SEL Plus when they first came out. We did this knowing that it was a production/introduction year vehicle and might have some issues and if there was anything major we could just walk away from it. Well, in about 12 months, our lease is up and we are having a hard time deciding on if we should just keep this one or trade up to the new 2010s. The decision has pretty much been made from the standpoint that we LOVE the Edge and if we do trade up, we will probably get another one. But the thought of finally being car-payment free in a few years is also a nice thing to look forward too also.

 

The only issues we have had with the car is:

1. the know tranny leak and had that fixed, under warranty

2. the trunk/hatch button burnt out and had to be replaced, under warranty

a. when this was fixed, there is a 'brain' module that controls quite a bit for the interior and that had to be replaced too, again under warranty.

3. blown turn signal tail light, fixed ourselves (but based on some topics I have been reading (www.fordedgeforum.com/index.php?showtopic=2594) we need to relook at the harness as I do remember some discoloration)

 

We really love everything about this vehicle, the look, the ride, the comfort, etc. and would not be in this dilemma if we were not so attached to it. Weird, huh???

 

OK experts...Lemme have your thoughts, opinions, recommendations, etc. on what to do next.

Edited by AnnieW1025
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On one hand if you like the car it will be a lot cheaper to buy it than to get a new one. But before you do that you need to compare the lease buyout cost with the cost of a similar vehicle on the used car market - sometimes it's a lot cheaper to turn that one back in and buy the same vehicle used from another dealer or private party - depends on how they valued the vehicle when they wrote the lease and what the used car market is like in your area. Of course knowing the vehicle history can be worth a lot, too.

 

On the other hand if you want something different or different features that you don't have now this would be a good time to do it, understanding that it will cost an additional $10K-$20K.

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