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Lincoln MKX Lease Questions

kyfdxkyfdx Posts: 27,640
Ask your MKX lease questions here!

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Prices Paid, Lease Questions, SUVs

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  • I am pricing out the Lincoln MKX and wanted to know the residuals and money factor. Does anyone know??
  • Hi nybriang. I can give you an idea of what this truck's lease rate is currently like. In order for me to do so though, I am going to have to make some assumptions about what part of the country you are in and how long you want to lease it for. For now I will assume that you are in New York (I'm guessing that this is the case based upon the "ny" part of your user i.d.) and that you want to lease for 36 months. Let me know if any of these assumptions are incorrect. Ford Credit's current base lease rate for a 36 month lease of a 2007 Lincoln MKX in New York is 2.0%. As you can see, Ford Credit publishes lease rates instead of residual values for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. Let me know if you need any additional info.

    Car_man
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  • I have been waiting for the MKX to hit the showrooms floors and now that they are here, (detroit)I was wondering why Ford is not offering any rebates? I have leased two Lincoln LS's in the past 5 years and always got great rebates. Along with the A-Plan that I receive I usually don't blink an eye however rebates are really needed if Ford wants to sell this. Any upcoming rebates from the manufacturer coming soon?? And is the panorama sunroof worth the money?
    Thanks.
  • I ordered my MKX about 2 week ago. I agree with you that there should be rebates and at the very least owner loyalty cash. I am in the Detroit area with A-Plan as well. I guess I will be attending the auto show this week in search for auto show bonus cash coupons.
  • Hi zoitsa21. Manufacturers usually try to ride new or redesigned vehicles for as long as they can without providing any sort of incentives on them. The demand for new vehicles often enables them to do this. Ford would be in big trouble if they had to provide large cash incentives on the Edge and MKX right out of the gate. It would be an indication that it was either priced way too high or was not well received by the public. I am sure that Ford will eventually have to introduce cash incentives on the MKX, but it may be a number of months before it happens.

    Car_man
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  • I will be shopping for a MDX in the Las Vegas area on the A Plan,what figures are they quoting in the Detroit area ??
  • heyjewelheyjewel Posts: 1,046
    "I will be shopping for a MDX in the Las Vegas area on the A Plan,what figures are they quoting in the Detroit area ?? "

    Sounds like quite a Vegas gamble - trying to convince Acura to sell u a vehicle on a Ford A plan.

    (Anyone for STOOOPID letter names still???)
  • Here is the prices I was quoted for a MXK in Detroit:

    MSRP: $39,080
    18,000/ Miles Year
    24 mos
    $2500 down ~$3100 due at delivery
    $440 month. A-Plan

    MSRP: $41,880
    18,000/ Miles Year
    24 mos
    $2500 down ~$3100 due at delivery
    $496 month. A-Plan
  • ok, what the heck is the "A-plan"??? :confuse: What's the deal? Can anybody get it if they wish?
    You gotta give those of us who live in places other than Detroit a little slack. :D

    thx
  • A-Plan is the discount Ford employees get on new Ford Motor Company vehicle products.
  • Hi pablo651. I suspect that you mean the Lincoln MKX and not the Acura MDX :P . I don't blame you for getting confused with the alphabet soup of new vehicle names out there. Ford Credit's lease program for this vehicle varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 MKX AWD with 15,000 miles per year are 1.5% and 51%, respectively. If you provide me with the full MSRP and approximate selling price of the exact model that you are interested in I would be happy to estimate what your lease payment should be.

    Car_man
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  • Thank You Car_man, I did mean the MKX and your figures are all I need. I am going back and forth on a purchase between the MKX & the Lexus RX350 and this site has been invaluable, Thanks Again.
  • Here is an offer I received. Anyone seen anything better? Comments? I live in Ohio.

    The figures on the MKX we optioned for you are as follows:

    39 mos lease @ 10,500 miles per year:
    MSRP: 42,115.00
    X plan : 39,446.85
    L.E.V.%:52%
    lease end value:21,899.80
    APR %: 1.75%
    amount due @ start:1,176.76(includes 1rst payment,security deposit,cap cost,annual fees)
    total monthly payment:546.76
  • MSRP 43890.00
    XPlan 40945.37
    ?7.00% + Up Front Sales Tax? 1485.39
    ?Bank Acquisition Fee? 595.00
    39 mo/10,500/yr
    LEV=51%
    LEV=22,383.90
    mo pmnt 529.28
    lease charge 47.38
    base mo payment 576.66

    questions
    1)i thought taxes were based on the monthly payment and not "up front"?
    2)what is a bank acquisition fee for 595.00?
    3)dealer said APR is 1.75 so i cant figure out how they came up with $47.38/mo for that?
    4)does dealer have any say in the LEV%? my previous quote for same term w/slightly different options had LEV@52%
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, pablo651. Good luck in your quest for a new vehicle.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mistereed. Different states use different methods for calculating sales tax on leased vehicles. I am not personally familiar with how it is calculated in the state of Ohio, but you may be able to find out by visiting one of the following sites: Ohio Bureau of Motor Vehicles or Ohio Department of Taxation.

    All banks that lease vehicles to consumers charge what is known as an acquisition fee. Ford Credit charges an acquisition fee of $595 on every Ford, Lincoln, or Mercury vehicle that it leases. Individual dealers do not have the authority to waive this fee, but you can add it into your vehicle's capitalized cost to make it part of your monthly payment instead of paying it at lease signing if you want.

    The 1.75% lease rate that you were quoted is right in line with Ford Credit's base lease rate for a 39 month lease of a 2007 Lincoln MKX right now. You can use the formula that is outlined in the following article to calculate what the monthly payment on this truck should be: Calculate Your Own Lease Payment. In order to use the formula though, the lease rate that you were quoted has to be converted into a money factor. To do that you have to divide it by 2400. So, a lease rate of 1.75% is equivalent to a money factor of around 0.00073.

    Vehicles' residual value percentages are set by the bank that you are leasing through. Individual dealers do not have the ability to alter banks' residual values, so they are not negotiable.

    Car_man
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  • I recently looked at an MKX with both Elite and Ultimate packages and heated rear seats (MSRP $43,530). The dealer quoted me a selling price of $42,000. I know that the invoice price is $39,635. How much above invoice have people been paying? I was quoted a lease price of $714 per month for 36 months and 15K miles per year. There was no money down other than tax and tags. It still seemed like a high monthly payment. What kind of deals jave people been getting?
  • lasher30lasher30 Posts: 18
    Would like all of your expert opinions on this lease offer I got...

    Ultimate Package, Towing, Sirius, and Roof Rack
    MSRP: $39,025
    Lease Payment: $558.55
    Lease Length: 24
    Miles/Year: 10,500
    Cap Cost: $36,641.12 (X-plan)
    Money Factor: 0.00125
    Residual: 65%
    No first mo payment or SD. Only title and plates due at signing
  • What is money factor and residual value for the MKX in Texas? I am looking at both the FWD and AWD, either 36 or 48 months at 12,000 miles/year.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello bfeldstein1. I was playing around with the MKX at the New York Auto Show recently and I must say that I really liked it. I particularly liked the "Medium Camel" interior. Lincoln is currently providing $500 lease cash plus it is waiving the first month's lease payment on the 2007 MKX. The price that you were quoted is $2,365 over invoice, which really is equivalent to $2,865 over once the lease cash is taken into account. I am not intimately familiar with what the market is like for the MKX right now, but if I was in the market for one I personally would want a larger discount than that. If you are in an area that has a couple of Lincoln dealers it wouldn't hurt to shop around a little bit. When you arrive at a price that you are comfortable with, make sure that the dealer uses Ford Credit's base lease rate of 1.75% (for 36 months) to calculate your monthly payment.

    Car_man
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