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Lincoln MKZ Lease Questions

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  • hardhawkhardhawk Posts: 702
    Car Man: Here is what I am looking at. 2007 MKZ FWD. MSRP of $34,465. Selling price of $32,661 less $500 rebate. 10,500 miles per year. 51% residual. 2.25% rate 39 month term. Dealer says payment is $494.90 per month. This may include about 8% sales tax on each payment. I am checking on that. What is your take on this?
  • andycintiandycinti Posts: 2
    Carman - My dad is a retired Ford employee and I am considering a lease of an MKZ. The Z plan pricing on the Ford web site is about $2,600 - $3,000 below MSRP depending on options selected. My question is this: am I always better off just telling the sales guy I am buying/leasing on z plan as soon as I walk in? Is it possible I may be able to get a better deal than z plan in a few months when they start clearing out 2007 inventory? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hardhawk. The car that you described has a spread of around $2,800 between its full MSRP and its dealer invoice price. That puts the $1,800 discount that you were quoted at around $1,000 over invoice. If you are in an area that has a decent level of competition and you shop around I would not be surprised if you were able to beat this price by $500 or so. According to the latest information that I have seen, Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKZ 2WD with 10,500 miles per year are 1.75% and 51%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi andycinti. I personally doubt that you will be able to negotiate a deal that's much better than the Z-Plan price on your own.

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  • setampsetamp Posts: 16
    Does anyone know the residual % and the interest factor used for the new MKZ 39 month lease promotion? Also, any help would be appreciated for selling price. I just hit the local dealership and they have a BUNCH of MKZ's on the lot.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi setamp. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKZ 2WD with 12,000 miles per year are 1.5% and 49%, respectively. When negotiating your lease on this car, make sure to take advantage of the $500 lease cash that is currently available on it.

    Car_man
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  • Hello, I was wondering, if anyone on this board, has some info
    on the financial numbers for the 2008 Lincoln MKZ. What I am looking for is the residual and interest rate for the 2008 model. I was going to wait about 30 days and lease one with the new Sync system in it. Any help I would appreciate it.
    Thanks.
    Fltrucker :shades:
  • Car_man or anyone else who wants to contribute. I am hoping to lease an mkz, 12k miles, 36mos (39 ok). The msrp is 33,005.00 and my credit scores are between 640 and 670 and my wifes are between 660 and 680. I have a tradein but I am only hoping to get enough for it to pay it off.
    What do you guys think a pretax payment might be like with zero down?
    Thanks.
  • Question:
    Is cheaper for me to buy or lease this 2008 MKZ?
    Assumptions:
    • MSRP = $33,680
    • Price if purchased (including $1,000 cash back)= $29,206
    • Lease price (including $500 factory allowance)= $29,706
    • Own or lease for 24 months
    • Drive 12,000 miles per year
    • Two year residual value = 62% of MSRP
    • If Buy, pay all cash – no financing required
    • If Lease, pay $5,000 down plus $350 start-up fee
    • Consider lost opportunity cost for cash tied up for purchase option at 5%
  • Hi casolorz. This car's lease payment will depend upon the selling price that you are able to negotiate on it. The selling prices of leased vehicles are negotiable. The lower your car's selling price is, the lower its monthly payment will be. For now, I will assume that you will be able to negotiate a $2,000 discount on this car. Add to this the $500 lease cash that is currently available on it and we arrive at a total capitalized cost reduction of $2,500. According to my calculations, if you were to lease a 2008 Lincoln MKZ that has an MSRP of $33,005 and a capitalized cost of $30,505 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $415.

    Car_man
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  • Hi dandydon2. Whether is it cheaper to lease this car for two years or to purchase it and sell it after two years depends upon how realistic you believe its residual value is. Ignoring the interest expense, theoretically if this car's residual value accurately reflects what it will be worth in two years one would come out about the same if they purchase or leased it. Residual values are not perfect though. In fact, I suspect that Ford Credit is overestimating this car's residual value. If that is the case, you would be much better off leasing and letting them take the hit than absorbing the additional depreciation on your own.

    Furthermore, Ford is currently providing a special 1.75% interest rate on leases of the 2008 Lincoln MKZ. This is an additional benefit of leasing because this is a much lower interest rate than you would be able to get if you were to finance this car through an independent bank. Plus, you should be able to do better than 1.75% by investing the money that you would have laid out had you paid cash for this car.

    If I was positive that I was going to only keep this MKZ for only two years I personally would definitely lease it.

    Car_man
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  • Thank you very much, that gives me a great idea of what to look for. How can I easily find out the money factors? that will greatly help me figure out what car to get (looking at the acura tsx as well).

    --Carlos
  • Looking real close at an MKZ.
    I am a Cadillac man and the new CTS is looking real good, but right now they have bad lease rates.

    I also like what I am hearing about reliability of the MKZ.
    Drove vehicle, liked the power, AWD, THX, Xenon, Light wood trimmed interior looks sharp.

    What I have from my local dealer is:

    MSRP: $34370
    Rebate -500
    Disc -1479
    Total $32391
    2% Interest
    54% Residual
    39 month Lease 12K
    9% State Tax
    Approx $800 add on Lease Fees
    $446 per month $1K Down
    $475 per month $0 Down

    I know I can whittle them down probably $20 or $30 per month.

    Any comments to make my decision easier.

    Thanks
  • I am not sure but that doesn't sound like its even below invoice. You should probably start there, then take out rebates.
    I am hoping to get a deal on them but I am waiting for one with SYNC.
  • I just returned from the Ford dealer in Ft. Lauderdale who quoted me a lease rate of $468/month for a 2008 Ford Edge Limited (similar the the 07' SEL Plus?) with Sync and power liftgates. This is for a 36 month lease with sales tax included.

    Last week I test drove the 2008 Lincoln MKX at the dealership in Pompano Beach, FL. Their price for the base model (no liftgate but it includes Sync and air conditioned seats which are not available on the Edge) is as follows:

    Here is the information that you requested on a lease. 24mo/10,500miles/with a rebate of $1,500 / $1,428.22 due at signing is $545 plus tax at 62% residual & .50% rate . 39mo/10,500miles/with a rebate of $1,500 / $1,372.44 due at signing is $493 plus tax at 52% residual & 3.0% rate .

    What other lease questions should I be asking?

    I do not have the MSRP's for either of these cars but if anyone out there has leased either a 2008 Ford Edge Limited or a 2008 Lincoln MKX can you tell me if the lease rates are competitive? I can't imagine why anyone would pay nearly the same for an Edge as for a Lincoln?
  • ddeliseddelise Posts: 339
    Hello -

    Looking for the current 36 or 39 month (whichever has better rates) Money Factor and Residual for the 2008 MKZ FWD in Florida. Also, what are the current lease incentives.

    Thanks - Damon
  • ddeliseddelise Posts: 339
    Looking for 12k miles/yr., along with acquisition fee.

    Thanks - Damon
  • bhmr59bhmr59 Posts: 1,598
    I know someone who just leased an MKZ. (She is very badge conscious.)

    I can't imagine why anyone would pay the thousands of extra dollars for this car just because the badge says "Lincoln" instead of "Ford."
  • I considered the milan and the mkz a while ago and test drove both. There is really very little in common between these two cars when it comes to driving them. True the milan and fusion do look nice but the inside quality, features and driving experience was totally different.
    I guess it all comes down to what you enjoy, if I had gone with a sedan I would definitely have gone with the mkz over the milan. Just try pushing the gas real hard on the milan and then do the same on the mkz, its not about the acceleration but the down shift, its just so much smoother. Also the steering was annoyingly soft on the milan, the mkz had fairly soft steering too but not as bad as the milan.
    When it comes to inside comfort, the milan is a nice regular car, the mkz feels like you just sat down on your lazy boy at home, its so comfortable that it almost makes that THX on the screen worth the money (I wouldn't have gotten that but then I am not into audio very much).

    It really comes down to what you like to have, in my case I just couldn't get over the lack of some basic features, mostly power features like memory seats and automatic things like windshield wipers.
  • You're very welcome, Carlos. Unfortunately, I am not aware of any resource that provides information on banks' actual lease programs to the general public. You should be able to find out what the lease programs are like for most vehicles that you are interested in by visiting the appropriate discussions here though.

    Car_man
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  • Hi ventr4th. It's great that you found out what the lease rates and residual values are for the vehicles that you are interested in, but you also need to find out what their MSRPs and selling prices are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. This information will make it easier to tell how good a deal you are getting.

    Car_man
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  • Hey Damon. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Lincoln MKZ 2WD with 12,000 miles per year are 2.25% and 53%, respectively. The numbers for an otherwise identical 39 month lease are 2.25% and 49%. As you can see, Ford Credit publishes lease rates instead of money factors for vehicles. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. When negotiating your lease, make sure to take advantage of the $1,000 lease cash that Lincoln is currently providing on this model.

    Car_man
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  • Hey Damon. Ford Credit charges a $595 acquisition fee on every vehicle that it leases.

    Car_man
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  • Hi,
    I am looking to lease a 2008 MKZ this weekend. I went to a dealership last week just to see what my payments would be. without much negotiating it came to $1500 down $315 Month for 36 months 12000 miles a year. I was told that there is a $1000 dealer incentive on the lease. Is this a good deal or can I do better. Would apprecaite anyone information you can share. :D

    Thanks,
    Matt
  • ddeliseddelise Posts: 339
    Can you provide more detail?

    What is the MSRP and selling price? What does the $1500 down cover (start-ups or is it all capital cost reduction)?

    As it looks, from the computations I have made, that is an excellent lease deal.

    Damon
  • I am not sure of the details - it was done very quickly. The selling price was around $32,150, The list was $34,000. I was just looking at the time. I read a few posts back that someone had purchased a new MKZ for $27,000 is this still possible? Are there any rebates available?

    Thanks
  • modonmodon Posts: 1
    great site. i have a dealer off on a 2008 mkz , list 30,918. the lease offer is 5500 down, plus first months payment , pay 354 per month. includes all taxes and licenses.
    lincoln is running a special , 319 per month for 39 months, 2500 down, taxes and license extra. i live in missouri which i thohgt taxes only part of the price. the dealer said our county tax of 7.5% would be paid on 40% the first year and like increments. this makes no sense to me. looks like total sales tax if i buy it is 2400 and license in only 50 per year.
    do you know how they figure sales tax in mo. and doesent the 319 sound much better? both 12,000 miles
  • Car Man

    Our local dealer has about 10 leftover 2007 MKZ's they'll blow out at cost. I can figure the payment if you can tell me what are the residuals and money rate on a 2007, 30, 36 or 39 month lease with at least 15k a year? Can you still buy more liles at 10-15 cents a mile up front?

    Thanks!
  • Also looking for residuals and money rates for an '07.

    Thanks.
  • 737capt737capt Posts: 14
    Anyone have the latest residuals and money factor and any rebates for a 36 month lease on a MKZ FWD in South Florida?
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