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Lincoln MKX Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi lasher30. You never mentioned the selling price of the MKX that you are interested in leasing. This is an important number for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    For now I can tell you that the money factor that you mentioned is way too high. Ford Credit published lease rates instead of money factors for the vehicles that it leases. One can convert money factors into approximate lease rate equivalents by multiplying them by 2400. So a money factor of .00125 is equivalent to an interest rate of around 3%. Ford Credit's actual base lease rate for a 24 month lease of an MKX is only 0.25%. This is a very attractive rate that you need to make sure you are getting.

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings txlablover. Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX 2WD or AWD (their lease programs are the same) with 12,000 miles per year are 1.75% and 52%, respectively. The numbers for an otherwise identical 48 month lease are 4.5% and 43%. When negotiating your lease on this truck, keep in mind that Lincoln is providing $500 lease cash and waiving the first month's lease payment on it.

    Car_man
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    Prices Paid Forum
  • magoo99magoo99 Posts: 13
    Does anyone know the lease factors for the MKX for the month of May.... money factor and residuals for either a 36k or 45k miles and any incentives that apply to a May lease.
  • dylcondylcon Posts: 8
    Stopped down at Lincoln to get a price on a new MKX for a lease and was wondering if this was considered a fair deal (I thought so).

    A loaded MKX AWD with the Elite pkg, came to a selling price of $41,875.

    On a 24 month lease with 10,500 miles/yr the payments were $520/mo including tax; I'd have to put $1,800 down.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, magoo99. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX with 15,000 miles per year are 1.5% and 50%, respectively. With only 12,000 miles per year, this truck's residual value would be 2% higher. As you can see, Ford Credit publishes lease rates for the vehicles that it leases instead of money factors. You can convert its published lease rate into an approximate money factor equivalent by dividing it by 2400. When negotiating your lease on this truck, make sure to take advantage of the $1,000 lease cash that is currently available on it. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi dylcon. What is this truck's full MSRP? I ask because it will show me how much of a discount you are being given, which will help me to formulate an opinion of your deal. Make sure that the dealer that you are working with is using Ford Credit's amazing base lease rate of 0.25% to calculate your monthly payment.

    Car_man
    Host
    Prices Paid Forum
  • dylcondylcon Posts: 8
    Car man,

    What is the residual on a 36 month lease with 10,500 miles/yr...53% or 54%?
  • dylcondylcon Posts: 8
    Something's not right with this deal I was just offered on an x plan.

    Lincoln MKX
    MSRP $41,650
    X plan price $38,857
    Lease cash rebate $1,000
    $1,000 cash down
    36 months, 10,500 miles/yr
    52% residual

    $601/pr month?

    Shouldn't the residual be higher (area zip 34677) on this vehicle, and the monthly payment lower (around $548)?
  • billsyrbillsyr Posts: 5
    I find this site very informative. Want to say thanks to all the buyers and to Carman for sharing.

    We're in the market for a MKX with a dealership visit scheduled for Tuesday. We're going to Driver's Village, North Syracuse (Cicero maybe). It's one of these new mega dealerships that sell almost every brand of car. I did some online viewing and got a call from the dealership of course. Before I go, can you give me some heads up of what to look for. What to ask. We have a Jeep Grand Cherokee with an expiring lease. We looked at the new Jeeps and found them way off the mark in quality; cheap actually for the price and lease forward dealers are not available on most of what they do have so we asked the sale rep to show us something else. He suggested either the Lincoln or a Nissan. We're going to test drive both and I'm sure they'll want to make us an offer. How does one get the 'best offer' on paper so you can leave...think about it and maybe even comparison shop. What is the current lease rates in our area for 15k/yr. We also have a '99 Grand Am to trade in. How should I go about this and keep the deal fairly clean and not let it all become the monthly payment sales tricks?

    thanks !!!!
  • ridge2ridge2 Posts: 7
    will be getting my MKX - vivid red MKX next week. Is there a way to know if I have a good lease deal?

    I am leasing the MKX with only the ultimate package showing MSRP of $38440 for $444 a month.
    Here are the details
    - May incentives of $1250 cash rebate
    - $1000 MFG to customer rebate sent to me from FORD
    (no other money put down),
    - 39 months with 12000 miles,
    - money factor based on 1.5% top tier credit
    _ Monthly lease including taxes $444 a month.
    - Only other expense will be my "out the door" which I will pay separately for a total of $1567
    THis is in New Jersesy
    Hoping I am getting a good lease deal.
  • bromanobromano Posts: 6
    Dear Ridge2. We're in the process of buying much the same car in a dif color. Offer we got was $38,000 at 1.5%, too. We haven't talked payments yet. The dealer here (Drivers' village), has not mentioned the incentives and rebates you noted in your message....so that's good to hear about. I'll have to ask! Thanks. :blush:
  • ridge2ridge2 Posts: 7
    Dear Bromano,

    Go to the Ford site and select special offers. There you will see all the lease special that are being offered. The one until July 2007 is a cash rebate of $1250. you can bring it with you that is what I did.
    The other one that I had was a special offfering to me from FORD - not sure why I received it ( I was leaseing from another company) but glad they sent it to me - I receive that 3 months ago in the mail.
    Good luck Hope we both are getting a good deal.
    :confuse:
  • billsyrbillsyr Posts: 5
    We pretty much closed on our MKX deal this morning. I have a question. We applied an employee "X" plan to the cost. We were told that it is applied to the MSRP. Is that correct?
  • dylcondylcon Posts: 8
    Nobody seems to care and answer in this forum so....it seems to be a waste of time to ask any questions.

    Good luck.
  • ridge2ridge2 Posts: 7
    I think you are right. My guess is after everybody is finished with the neg and has their car. THey don't bother looking back here.
    Here wishing you a good driving experience :D
  • hardhawkhardhawk Posts: 702
    I don't know if we are supposed to e-mail Car Man direct or just post here. There never seem to be any responses here. It would be nice if he posted each month the residuals, money factors, and incentives for each vehicle. Then we would not have to ask and gamble on hearing back. I am sure there is lots more action on some of the other lease boards, so in fairness he is very busy.
  • cad4mecad4me Posts: 2
    that's a good deal. It looks like the price of the car is marked down to about 35K using the current interest rates on 39 mo leases. May be there is little more room depending on how bad the dealer wants to close it out.
    you may be able to get a better deal with 24 mo lease; interest rate is .25% currently.
  • How do you check the accuracy of what the dealer lists as the residual value of the vehicle at the end of the lease period?
  • billsyrbillsyr Posts: 5
    Well, we picked up our Lincoln MDX and it's super. Gas mileage on a long trip we took this weekend was about 19mpg. Comfort was good except the front headrests. They lean forward and really are in the way. I went so far as to turn y wife's around so she could sit comfortably. Besides that the car rides very nice and the systems all work perfectly. The center backseat armrest does interfer with rearview to a minor degree. Our final price was very cometitive. I didn't get a chance to compare this to the new Ford Escape but I've been told it's very much the same car; just more expensive.
  • jak51jak51 Posts: 17
    I picked up my MKX Saturday. I got to use X-plan for the lease. I understand what you are saying about the headrests, but they are not as uncomfortable as in the Edge. They seem to lean even further forward in the Edge's I test drove and were really uncomfortable so I went with the Lincoln. The vehicle rides smoothly and finally got a vehicle that has some decent OEM tires on it. Amazed that at idle I don't feel engine vibration through the steering wheel at all! I have owned Nissan, Toyota and Honda and always had some engine feedback through the steering wheel. The only one besides the MKX that didn't was the Lexus RX350 but that was thousands more.
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