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Lincoln MKZ Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey rj123456. I just did a little research on the Zephyr for you. Back in 2006, Ford Credit's base lease rate and residual value for a 36 month lease of a 2006 Zephyr with 15,000 miles per year were 1.0% and 46%, respectively.

    Flash forward to today, and while this car's lease rate is about the same, its residual value is only 41%. As I suggested in my previous post, the residual value for an equivalent car today is indeed less than it was when you leased yours several years ago.

    A 5% drop in residual values may not seem like a lot, but on a $35,000 car with a $3,000 discount were talking about an increase of nearly $50 per month on a 36 month lease. This example is actually less extreme than many of the other drops in residual values that I have seen over the past several years.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi b0ywonda. Here's the information that you're looking for. Ford Credit's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Lincoln MKZ with 12,000 miles per year are 3.5% and 50%, respectively.

    When negotiating your lease, make sure to take the $1,000 bonus cash that Lincoln is currently providing on this car into account.

    Good luck in your quest for a new ride and make sure to stop back to let us know how everything turns out.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rj123456rj123456 Posts: 128
    It's a double whammy. Back in 2006 I remember calculating my eff int rate was like .75%. A 46% residual is right on the money based on current used car prices on the '06s...why are they assuming 41%? It's incredible that a car will lose almost 60% of its value in 3 years!
  • rj123456rj123456 Posts: 128
    I'm in shock. This is the first lease I've ever done and Ford Credit wants almost $3K in wear and tear items. The biggest item is over $2,000 for new wheels. Two of the wheels have VERY minor scratches, 1 has a noticeable scratch and the 4th is scratched up as I ran close to a curb. But I still don't understand why it's that much.

    I tried to reason with them on the phone and they said they can't do anything as the estimate is made up by an "independent" agency (Datascan). I bet if they came up with reasonable quotes Ford will fire them and give the contract to another "independent" company.

    Any suggestions on what to do? The original dealership closed, so Ford said I could return it to any dealership.

    On the plus side I am about 1,500 miles shy of the 33K allowed. Not that they give me any credit for that.
  • faellaffaellaf Posts: 6
    I'm currently leasing a 2010 MKZ so I can't comment on your particular situation. However, I had a similar situation with Lexus when i turned in my '06 ES330. I received a "bill" for $800.+ for a set of tires and a minor dent. That "inspection" was done by an "independent" appraiser (owned by Toyota).
    Fortunately, I had my car serviced 2 months earlier and the service report proved that I had more than ample tread left on the tires and that the report was a "fraud".
    It ended with all the charges being cancelled. I also took pictures of the car before I turned it in including the odometer..
    My opinion, they;ll do anything to part you from your money.
  • Hi Car man:
    Can you please give me the Sept lease numbers for an MKZ?
    My preliminary inquiry for a 39 mo 15K per year lease resulted in:
    MSRP 41,000...Sale Price...35,000 Interest 2.25% and Residual of 46%
    Dealer acknowledged a $2,000 cash back, but not for the lease.
    The initial work up using the above reflects a 535 monthly payment w/o taxes which seems high. What is your take on this deal and the absence of any cash back incentive on a lease for this vehicle.
    Thanks.
  • Hi jimmydean7. Here's the information that you're looking for. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2010 Lincoln MKZ 2WD with 15,000 miles per year are 2.25% and 46%, respectively. As you can see, this is right in line with what you were quoted.

    I don't believe that Ford is currently providing any cash incentives on leases of this car.

    The $6,000 discount that you were quoted on this car certainly looks attractive to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • A reporter is looking to speak to a recent buyer of a Lincoln vehicle. Please send your daytime phone number to ctalati@edmunds.com by Tuesday, October 13, 2009.

    Thanks,
    Chintan
    Corporate Communications
    Edmunds.com

    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.

  • I'm currently leasing a 2007 Mercury Milan set to expire in 6 months. I am looking to upgrade to the 2010 Lincoln MKZ. I have 6 months of payments remaining of $307.34 for the Milan ($1844.04). Here is what I was quoted for a loaded MKZ with Nav Package, Ultimate Package, Technology Package, 17" Chrome Rims, Moonroof, Rapid Spec 103A:

    -They will pay my 6 remaining months on Milan
    - They pay first month's payment
    - They waive security deposit
    Basically sign and drive
    - Sticker price 41,175
    - Residual: 49%
    - 39 month lease (with first month paid)
    - 10,500 a year
    - Monthly Payment: 529.88

    Is this a good deal? Where can I negotiate? I do need more miles.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi kam41765. Ford Credit's current base lease rate and residual value for a 24 month lease of a 2010 Limcoln MKZ AWD with 18,000 miles per year are 0.25% and 54%, respectively.

    This car's 36 month numbers are 2.5% and 46%. Its 39 month numbers are 2.75% and 44%.

    I believe that 18,000 miles per year is the highest mileage allowance that Ford Credit publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is usually less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Ford's incentives for this car vary by region, but in most areas there is only the $2,750 cash on leases that you mentioned.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I'm looking to lease a 2011 Lincoln MKZ FWD with no options. Can you provide the current Ford Credit base lease rate interest rate for a 36 month lease with 10k per year and residual value.

    Thank you.
  • Hi jay222. Ford Credit's lease rates on the MKZ vary by region. They're anywhere from 1.25% to 2.25%. I would be happy to tell you what this car's exact rate is in your neck of the woods right now if you tell me what state you are in.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • 10sfan10sfan Posts: 136
    I would also be interested in that rate on the 27 month lease program they now have available in Wisconsin. Also, any other information that may be relevant on this new program.
  • jerrys2jerrys2 Posts: 181
    Just dropped my '08 MKZ at the former Ford dealership that is now Ford, Lincoln,Mercury. Have an under dash rattle which should be fixed under warrantee.

    Don't kow how the repair will be but the physical service facility was at best marginal even for a Ford stand alone.

    If Ford plans to succeed with Lincoln in the luxury market they must upgrade these new dealerships. At this point I do not plan to consider Lincoln as my next car in the next 12 to 18 months.
  • Hi jerrys2,

    I can imagine the rattling in the dashboard of your 2008 MKZ can be unsettling. If you have anything that you need assistance with during the repair process, don’t hesitate to private message me with your request. If you do send me a message, be sure to include you VIN I can also document your concerns.

    Cory
    Ford Customer Service Division
  • Hi jerrys2,

    My apologies, but I have a correction for my previous post. Please contact the Ford Customer Relationship Center at 800-392-FORD if you need assistance during the repair process.

    Cory
    Ford Customer Service Division
  • Hi 10sfan. According to the latest information that I have seen, Ford Credit's November base lease rate and residual value for a 27 month lease of a 2011 MKZ with 15,000 miles per year are 0.5% and 57%, respectively.

    Ford is currently also providing a $2,675 cash incentive and waiving the first month's payment on leases of this car.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • I'm thinking of leasing a 2011 MKZ Hybrid. The MSRP is around $42,000. I have a few offers for a 39 month lease, of $559 to $589 month. How do I sort out what's a good deal and what's not?
  • If you recently considered or bought a Lincoln MKZ or MKZ hybrid, a reporter wants to talk with you. Please respond to pr@edmunds.com no later than Friday, February 4, 2011 with your daytime contact information and a few words about your decision.

    Karen-Edmunds Community Manager

  • amcdadamcdad Posts: 61
    Hi,

    Does anyone have information on February 2011 incentives/MF/residuals for the Lincoln MKZ Hybrid? Looking at 15k miles a year and 36 months -or a more incentivized lease length if there is one such as 27 or 39. Thanks!
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