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Lincoln MKZ Lease Questions

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  • jberardijberardi Posts: 4
    Great intel, Car_man, thanks.

    Can you please tell me mf/residual for a 39mo lease at 12K and 15K mileage? I would ask same for 36 months, but I presume that 39 will offer the better deal. Is that a fair assumption?

    I had my 2011 MKX serviced the other day and started talking to the sales guys about the MKZ. They're telling me that there's equity in my MKX, but haven't shown a number yet. Is there a general calculation that I can apply? I'm in month 16 of 39 and have 16,000 miles with 39K alotted. No damage.

    Thanks, JB
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks and you're welcome jberardi.

    Ford Credit's April base lease rate and residual value for a 39-month lease of a 2013 Lincoln MKZ 2WD with 15,000 miles per year are 0.5% and 51% respectively.

    The residual value for a lease with 12,000 miles per year would be 2% higher.

    You're right, the 39-month term would likely result in a slightly lower monthly payment than the 36-month term.

    I'd be surprised if you could get out of an MKX 16 months into a 39 month lease without having to pay anything, but stranger things have happened. Just make sure that the dealer isn't burying any costs in your MKZ lease.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • shellzshellz Posts: 33
    edited May 2013
    Hello Car_Man,

    Do you know what the May interest rate and residual are for the MKZ Hybrid w/ Preferred package are? I'm looking at 36 months and 12,000 miles a year. I am in Texas if that matters.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Sure shellz. Ford Credit's May buy rate lease money factor and residual value for a 36-month lease of a 2013 MKZ Hybrid with 12,000 miles per year in Texas are 4.0% and 60%.

    Lincoln is waiving the first month's payment on leases of this car right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    That doesn't seem like very aggressive lease rates.

    I looked up the pricing on a website and it looks like they are selling for around $900 OVER invoice in my area. In that case, then the capitalized cost is not that great either.
    Are there some other lease incentives in the MKZ or are there much better lease deals for May on some competing cars?
  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    36939 MSRP
    36087 Capitalized Cost.
    3 years, 36,000 miles.
    $0 cap reduction.
    What should the drive off costs, return costs and monthly payments be in California based on these numbers?
  • shellzshellz Posts: 33
    edited May 2013
    Compared to the competing hybrids, the rates don't look terrible to me. I'm pretty sure the rate is the same on a Fusion Hybrid and an Avalon hybrid -- about 4%. Looks like the residuals on both of those cars is also between 58-60%. My thinking is just to wait and see--these are all new cars so the manufacturers don't need to be aggressive. But I would think that with gas prices being relatively low, they might start to incentivize the hybrids in the next couple of months.
  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    They don't look "terrible," but there is nothing aggressive about it.
    4% sounds low compared what someone might have paid years ago, but today's interest rates are very low in general. I can finance for under 2% at my credit union. There is no amazing discount from MSRP and there is no unusually high residual. This all adds up to a very so-so lease that is not compelling at all.
    They must be in short supply. They are not trying very hard to push leases on this vehicle.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    While Lexus is slowly introducing more support on the MKZ, since it was just recently redesigned they are trying to hold off on any aggressive offers for as long as possible.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • magician2166magician2166 Posts: 10
    edited June 2013
    Lincoln has a terrible customer service. I had ordered my 2013 Lincoln MKZ in October 2012. I was among the first ones who did so. They informed me in April 2013 after waiting 6 months due to the production delays that they cancelled my order by mistake. Imagine that. They ordered another vehicle for me and offered $900.00 incentive for their mistake. I waited another 8 weeks to find out that my car was damaged in transit and needs repairs. My repeated attempts to find out from my dealership and Lincoln Customer Service when finally I will be getting the car did not bring any results. I walked away from this joke on June 7th. 2013 after waiting 8 months and never got the car. Meet a new Lincoln Luxury.
    I want people to know that Lincoln's ignorance and total disregard do not translate into extra they charge. If people are willing to go with Lincoln, they should understand that they will not get Lexus or Audi type service. They will not get it, period.
  • @ magician2166 I ordered one in I believe the end of November of 2012 and somehow my order got cancelled as well. And they gave me no type of resolution but to put in another order and wait for who knows how much longer. Got an ES instead.
  • joshcsjoshcs Posts: 8
    I am new to leasing and I just wanted to find out from those of you who've leased an MKZ what the average credit score that's needed. Mine is right at 720. What were your rates?
  • You should be fine with 720. They can't move those vehicles from the lot, so they will be very happy to have you. The lease depends on the selling price of the specific vehicle you negotiate with the dealer. Choose the equipment you want to have, select the vehicle and tell dealer to find you a car they or another dealer have in stock. It is harder to negotiate the price if nobody has the car you want and dealer has to order it for you from the manufacturer.
    As an example, 39 month lease with 15000 miles per year with only tax upfront should run you around $515.00 per month for the car with MSRP: $45,000.00 and selling price of $42,685.00
    Research the car on this site. Find out what is dealer's cost and any ongoing promotions. Then build the car on www.lincoln.com
    Send quote request to multiple dealerships (at least 5-7). Be specific to what you want. Once you gather all the information, only then go to the dealer. Remember they are in business to make money on you, not to help you anyway they can. They are not your friends and most of them are not sincere.
    Lincoln has a promotion now. The first month is free. Negotiate hard with them. Remember this is not an Audi. I hope you read my post # 151. Lincoln MKZ is a good car, especially 3.7L. I personally drove multiple times. I hope I answered your question.
  • You made a wise decision. I am very happy for You. Enjoy it! :-)
  • mnz1999mnz1999 Posts: 12
    edited June 2013
    CarMan, what's the MF and Residual value for 36 months 18000 miles and 36 months 20000 miles? And Also what's the buying price point i should be looking at (discount from MSRP)?

    thanks in advance
  • zombiemanzombieman Posts: 14
    Hey Car_Man,

    What is Ford Credit's money factor and residual value on the 2013 MKZ? I'm in Texas and would like both the non-Hybrid models (2.0 & 3.7) and the Hybrid numbers.

    Also have you heard from your contacts anything on upcoming/future promotions on the MKZ? We're fast approaching the introduction of the 2014 model year as I was told that any factory custom orders right now (with a lead-time of 6-8 weeks) would probably be 2014 models.

    Thanks!
  • joshcsjoshcs Posts: 8
    Thanks for the detailed reply. I really appreciate it! I am hoping to submit my credit app tomorrow and pick the vehicle up on Friday. Any extra things I need to know before submitting anything online? Does it take longer? And I'm doing 19.5k miles. Vehicle is 47k, but negt. price is right at 42.5k. This is my first lease and wanted a cushion on the miles, just in case.
  • I never submitted the application online. I always did it through dealer. It seems you are getting a good deal. Good Luck to You with the car. Enjoy it!
  • joshcsjoshcs Posts: 8
    Lincoln has their own Lease specific application, but the dealer said I could use their application for a lease also. I know dealers have a wider range of lenders, but does that matter on a lease?
  • Ford Financial is a good company to use. Manufacturer's financial institution have the best programs the most of the time since they are interested in selling their vehicles. If the specific dealer uses someone else for lease or finance, then the rates might vary widely. Investigate it yourself. Do not take dealer's word for it.
    All the best!
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