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Lincoln MKX Lease Questions

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  • houston8houston8 Member Posts: 3
    The '08 MKX I am looking at has a sticker of $43610. I would like to lease it for 39 months at 15k/year. What (with no money down) should I expect to pay per month after negotiating a price? Also, after a price is negotiated how (based on Ford's current lease rates) do you determine the exact lease price?

    Thank you! I'm planning on leasing one this week.
  • houston8houston8 Member Posts: 3
    OK, so no response, but I think I got a pretty good deal given that the incentives are not all that great right now. Here's what I am picking up today:
    08 MKX, Elite, Ultimate, Limited Edition.
    39mo/15k per year
    MSRP (inc dest.) $43088
    $1500 Lease Rebate
    $35500 Trade (Payoff same)
    $2218.75 (tax credit)
    49% Residual
    3% Lease Rate
    $0 down (except first month)
    $567/month
    This includes some sort of Extra Care Coverage that covers up to $2500 in excessive damages at the end of the lease.
    Anyone want to weigh in as to how good a deal I got?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 737capt. According to the latest information that I have seen, if you were to lease a 2008 Lincoln MKX AWD through Ford Credit for 36 months with 12,000 miles per year, its base lease rate and residual value would be 2.25% and 53%, respectively. When negotiating your lease on this vehicle, make sure to take the $1,500 lease cash that is currently available on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    A houston8 we have a problem :). You never mentioned the selling price of the MKX that you are interested in. I will calculate a sample lease payment on it for you, but I am going to have to make an assumption about the selling price. For now I will assume that you are being given a $3,000 dealer discount on this truck. Let me know if its selling price is different than this. According to my calculations, if you were to lease a 2008 Lincoln MKX 2WD that has an MSRP of $43,610 and a selling price of $39,110 (MSRP - $3,000 dealer discount - $1,500 lease cash) through Ford Credit right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $529.

    You can use the formula that is outlined in the following article to calculate lease payments on your own: Calculate Your Own Lease Payment.

    Car_man
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  • fogarty19fogarty19 Member Posts: 7
    I'm trying to figure out if i'm getting a decent deal. I'm interested in leasing a 2008 MKX with an MSRP of 42225 and I am paying $39,500, edmunds.com says the dealer invoice price is 38,800. I'm also getting $2,000 in incentives ($1,500 rebate + $500 college incentive program). I was interested in leasing it at 24 months with 12,000 miles. The dealer here (Indiana) quoted me at 0 down for $565 a month (i think that is without taxes, if it is that + 6% sales tax would make it $598). Can you tell me if that is a decent deal? Also what should it be a month if i went up to 36 months
  • mandkolemandkole Member Posts: 3
    If 37500 is your adjusted cap, based on a 63% residual, I calculated about $538/mo w/out tx. What residual did they use? A 61% residual would have been right about what you were quoted. The key to the 24mo lease is the nice money factor of .5% or .000208.

    The 36mo lease has a MF that is 5x higher at 2.5% or .00104. I recalled residual being about 51%. Your payment would be very close to the same.
  • scumfrogscumfrog Member Posts: 9
    My lovely wife would like to lease an MKX. She wants it all prettied up w/4wd. I have been offered a 15k lease rate of $599/month w/ approx. $3500 down. I think I can do better. I would appreciate any info and would like to thank you all in advance.
    Scumfrog
  • houston8houston8 Member Posts: 3
    There's no reason to put ANY money down on a lease except for the first month's payment. Our 08 MKX has every option except 4WD and stickered for $43300. We paid $39600 plus got a $1500 rebate (I had a trade of $36k so we saved quote a bit of tax). Our payment for a 36 month, 15K lease is $564 including tax. The only thing we paid was the first month's note.
    Hope this helps.
  • scumfrogscumfrog Member Posts: 9
    Thank you Houston. If I may ask, are you in the Chicagoland area? Your info is very helpful.
    Thanks
    Scumfrog
  • cindystarcindystar Member Posts: 8
    The '08 MKX I am looking at has a sticker of $44610. I would like to lease it for 39 months at 12k/year. What (with3000 TOTAL down) should I expect to pay per month after negotiating a price? Also, after a price is negotiated how (based on Ford's current lease rates) do you determine the exact lease price?
    OR NOTHING DOWN JUST (500)
    :blush:
    Thank you! I'm planning on leasing one this week. NY/NJ AREA
  • infinitimninfinitimn Member Posts: 146
    Cindy, there are some good deals out there. But never put more than the absolute minimum down on a lease. $3,000 is about $1400-$1500 too much. If the car is totaled or stolen you will never see that money again. I was looking for an MKX before I decided to go with an Acura RDX. I saw some pretty good deals in the ad for Maplecrest in Northern NJ, or Wayne LM.
  • kylechoffmankylechoffman Member Posts: 79
    Looking at the current zero due at signing offer on MKX for 459 a month for 39 months.

    Interested to know what the Rate/ MF are on those and how they change with a 24 month lease, 36 month lease and either 15k or 18k miles a year.

    Thanks

    PS i have xplan pricing available and am interested to know if the demand on these is big or not. I live in socal and havent seen any of these on the road.
  • txbelle1txbelle1 Member Posts: 66
    I am wanting to lease a MKX for 36 months, 12k miles per year in Tx with a MSRP of $36,999. Please let me know the residual, money factor and how the current "red carpet lease" special they have effects me. Is the $2000 cash back taken off the price I negotiate for the car? Lastly, how much should I expect to pay for tax, tile and license, TTL and my payment per month. The dealer told me their would be 2800 cash due and the ad for the lease special on Lincoln's website indicates $0 at signing. Thanks!!
  • marks1965marks1965 Member Posts: 10
    I'm starting to look at new leases, either the MKX or the Lexus RX350. I am looking for a 36 month lease/12,000 miles per year, AWD, Navigational and rear dvd system. I am in northern NJ. I am likely going to go to Town Motors in Englewood. I want to put down as little as pssibloe, of course. Anyone have recent experiences that they can share.
  • vinnieg1vinnieg1 Member Posts: 53
    I jist leased an MKX w/ ultimate package for 39 months 0 down sign and drive $500 per month. Without ultimate package about 450 per month. 10.500 miles oer year. Miles per year are negotiable. Good Luck.
  • marks1965marks1965 Member Posts: 10
    Thanks for the infromation. What geographic area are you in.
  • vinnieg1vinnieg1 Member Posts: 53
    Orlando Florida
  • hamomhamom Member Posts: 13
    I just got a quote yesterday from Schultz Lincoln in Nanuet, NY. They are telling me that 36 mo, 15K miles a year, with all the options you mention...do money down, except first payment...and they are quoting me $600 a month. This is a car with every bell and whistle....
  • marks1965marks1965 Member Posts: 10
    Thanks for the info. I would be looking at 12,000 miles, so maybe less than $600 may work. It's interesting because I have a Murano right now, with every bell and whistle. The price of the truck at the time I leased it was more than $43,000, which is comparable to the Lincoln With no money down, my monthly payment is $409.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello kylechoffman. Ford Credit's base lease rate and residual value for a 24 month lease of a 2008 Lincoln MKX AWD with 15,000 miles per year are 0.50% and 57%, respectively. The numbers for an otherwise identical 36 month lease are 2.25% and 48%. The residual values for leases with 18,000 miles per year would be 2% lower. As you can see, 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. Make sure to take the lease cash that is available on this truck into account when negotiating your lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi txbelle1. Lincoln's normal cash incentives are not compatible with its special lease program, but it does have specific cash incentives that are. I believe that Lincoln's current lease cash on this model is $2,000. In addition to this, Lincoln is waiving the first month's payment on leases right now. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Lincoln MKX AWD with 12,000 miles per year are 2.25% and 50%, respectively. As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its base lease rate into an approximate money factor equivalent by dividing it by 2400.

    Car_man
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  • txbelle1txbelle1 Member Posts: 66
    Thanks for the info! So, I should deduct $2000 cash from my final negotiated sales price correct? Then convert the lease rate of 50% by dividing by 2400?
    Also in Tx how would I figure out TTL? In the advertisements it indicates $0 dwn sp can I roll TTL into my lease payment rather than pay up front for TTL?
  • leeseleese Member Posts: 8
    What do I expect with regard to Lease payments - more or less per month for 24 months vs. 36 months.

    Also, do you expect the lease deals to get sweeter in the coming months for the 2008 vehicle?
  • marks1965marks1965 Member Posts: 10
    Car Man, if you are around here's the deal. Trying to get your input as to whether this is a good deal and what you would recommend to do. I received the following quote today from a Lincoln dealer in Northern NJ: Tax and MV fees down (about $2000). The truck is fully loaded with the panoramic roof, navigational system, THX radio, all the bells and whistles, etc., etc. et. Dealer will also install Headrest DVD feature for $530/month, 39 months, 12,000 miles, residual at 50%. First, would you (or anyone else out there) consider this a good deal. Second, I have a Murano with 5 payments left ($400/month or $2000). The dealer offered to take my truck, pay it off, and then increase my monthly payment $50 to cover the cost of the old lease. Is this something to consider, or are there any benefits to paying off the Murano lease myself.
  • marks1965marks1965 Member Posts: 10
    Trying to get anyone's input as to whether this is a good deal and what you would recommend to do. I received the following quote today from a Lincoln dealer in Northern NJ: Tax and MV fees down (about $1500). The truck is fully loaded with the panoramic roof, navigational system, THX radio, all the bells and whistles, etc., etc. et. Dealer will also install Headrest DVD feature for $549/month, 39 months, 12,000 miles, residual at 50%, purchase price of $40,200. First, would you (or anyone else out there) consider this a good deal. Second, I have a Murano with 5 payments left ($400/month or $2000). The dealer offered to take my truck, pay it off, and then increase my monthly payment $50 to cover the cost of the old lease. The dealer also offered to give me one payment towards my lease. Should I have them pay off my lease, or are there any benefits to paying off the Murano lease myself, with the payment from the dealer.
  • hamomhamom Member Posts: 13
    Hi...I was quoted lease prices today for a 39 mo. lease...no money down...`15K miles...elite and ultimate packages...all the bells and whistles. I am getting quoted
    $591.66 a month. Is that a good deal?
  • hamomhamom Member Posts: 13
    ok..so we have been negotiating w/the dealer...and now we have them at $569 a month..no money down...w/elite, ultimate, rubber floor mats, 20inch chrome wheels, and heated rear seats. Is this a good deal? It's 39 month w/15K miles a year. This is for the AWD....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, txbelle1. Yes, negotiate as low a selling price as possible on the MKX that you want, stipulating that you want to have any available cash incentives subtracted from that. Don't just assume that the dealer will automatically deduct them.

    I am not personally familiar with how sales tax is calculated on leased vehicles in Texas, but you might be able to find out by visiting the Texas Department of Transportation or Texas Taxes.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marks1965. You never mentioned the selling price or MSRP of the MKX that you are interested in leasing. These are important numbers 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 what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or another knowledgeable community member will gladly give you our opinion on this deal you if you let me know what these numbers are.

    As far as your Murano lease goes, I personally don't see any reason to get out of it several months before its scheduled end date. Doing so only wastes your remaining payments. You probably would be better off waiting a couple of months to get something new.

    Car_man
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  • lentillentil Member Posts: 3
    Hi
    I was wondering if you could tell me if this is a good price.
    Its for a 2008 MKX w. the Ultimate package
    no money down just the first months payment.
    MSRP- 38,860
    Our price- 34,860
    39 months
    10,500 miles
    474.00 monthly payment
    Thank you in advance!
  • hamomhamom Member Posts: 13
    that sounds about right. I just got the mkx, w/ultimate, elite, 20inch wheels, heated back seats...15,000 miles a year...no money down...39 months...and my payment is $570...so the extra $100 I am paying accounts for the other package, wheels, milage, etc..I think it sounds right...
    I love my car...it's been almost a week...and I LOVE the way it drives...handles...it's excellent. Good luck!
  • lentillentil Member Posts: 3
    Thanks for the reply. We are going to pick it up today. I hope we love it as much as you!
    Thanks again :)
  • klafter53klafter53 Member Posts: 2
    got deal- 0 down (1250 fees) 450 a month (includes tax)- AWD w/ Ultimate Package, 20inch chrome wheels, splash guards- 39 months, 12K per year-
    54% residual.... I think its a good deal- every other dealer was around 2K down 525 a month w/o tax....
    thoughts?
    and how does everyone enjoy thier MKX?
    MSRP was 40,656.00 by the way
  • edwood666edwood666 Member Posts: 2
    Could somebody tell me what is money factor and residual for this month?
    36 month 10K miles per year for FWD

    Thank you
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello edwood666. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2008 Lincoln MKX FWD with 10,500 miles per year are 2.5% and 48%, respectively. As you can see, 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.

    Car_man
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  • michaelvg1michaelvg1 Member Posts: 5
    I went into the Wayne, NJ dealership yesterday and was interested in signing for a MKX. They only had AWD and I was not interested in the package with NAV or the roof and whatever. I have NAV on my cell phone. They came out with a price of $500 per month with nothing down @ 12k a year for 39 months. I did not tell him that I was elegible for the 'A' plan. I went outside, was told I can get the A plan price, went back in there and they said the $500 per is the best price. I think that is BS. I figured I would be able to get it for a lot less on the A plan.

    Any thoughts out there? I want to turn in my 2006 Lincoln LS early.

    Any help would be greatly appreciated.
  • Zack99Zack99 Member Posts: 8
    Car Man,

    Do you know the current lease program by Ford credit for the MKX. That is, the money factor and residual - for 12k both for 36/39 month lease.
    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Zack99. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2009 MKX AWD with 12,000 miles per year are 0.25% and 46%, respectively. The numbers for an otherwise identical 39 month lease are .50% and 44%.

    As you can see, 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.

    Car_man
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  • Zack99Zack99 Member Posts: 8
    Thanks for the info. However, is the lease numbers any different for the
    FWD model.
  • boomboom4boomboom4 Member Posts: 10
    Car Man. Please give me your thoughts on the following lease. 2009 Lincoln MKX MSRP43320 cap cost 40553.62 residual 46% 36 months 12000 miles per year apr 0.25% Acquistion fee 595.00 total due at inception 710.77 pament 549.78 plus 6%tax =582.77. It seems a little high to me. Thank you.
  • Zack99Zack99 Member Posts: 8
    Car_Man

    I was just offered the following deal:

    2009 MKX FWD
    39 months 12k/yr
    MRSP 39180
    Invoice : 37073 { includes advertisement fee of $ 935)
    Rebates $3000
    Bank fee - $595
    Price paid - 33741 (after rebate) + 595 bank fee
    Cap Cost 34336
    Residual 43% 16847
    Money factor 0.25%
    Monthly rate with $0 down and all taxes included in monthly rate (8.25%)
    is $505
    and first month paid by Ford - current promotion. Due at signing license and title fee of $ 68.

    Is this a good deal?

    Car_man, you mentioned in a previous post the residual value on an AWD 39 months is 44%. Is the residual value on a FWD different ie. 43 % ( this was dealers residual value)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Zack99. The lease rate is same for the FWD model as it is for the AWD model, but the FWD's residual values are 1% lower.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi boomboom4. The lease rate that you were quoted looks good. It's right in line with Ford Credit's base rate for this model. Now let's take a look at this truck's selling price. A base 2009 Lincoln MKX AWD has a spread of around $3,150 between its full MSRP and its dealer invoice price. Add to this the $1,250 cash incentive that is currently available on leases and you have a total of at least $4,400 to play with during your negotiations.

    You were quoted a $2,766 discount on this truck. That would not be enough of a dealer discount for me if I was in the market for one. I personally would want at least another grand knocked off of the selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Zack99. It's weird that the dealer used the $3,000 consumer cash that is currently available on the '09 MKX in the lease. I don't believe that this cash is available on vehicles that are being leased through Ford Credit. Instead there is a $1,250 cash incentive on leases.

    The lease rate that you were quoted and dealer invoice minus all of the available cash incentives is a great deal though if that's what you are getting.

    Car_man
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  • Zack99Zack99 Member Posts: 8
    Dealer changed price after signing binder for 505/month. Now wants 543/month.
    I refusedl. Dealer would not honor signed binder.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey Zack99. Wow that's annoying, but it makes sense I guess. I didn't think that the dealer was applying the available incentives correctly. If I was in your situation I would definitely take my business elsewhere.

    Car_man
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  • michaelvg1michaelvg1 Member Posts: 5
    They paid off out my Lincoln LS v8 3 months early for a total of $1250. Sign and Drive MKX AWD, the new Dark Silver Ultimate Package for $450 per month sign and drive. They even paid my first payment.
    Don't have to make a payment until April.
  • KMS2009KMS2009 Member Posts: 3
    Hi Car man

    it looks like Lincoln is currently pushing their "low mile" lease on the MKX. on their web site they are advertising 0/0/0 for 499 a month.

    Can you please tell me the MF and residual value on a FWD 39 month/10,500 miles per year lease, Is lincoln still offering the "$1250" discount? Thanks in advance
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi KMS2009. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2009 Lincoln MKX AWD with 10,500 miles per year are 0.50% and 45%, respectively. Ford's lease programs often vary by region. If you tell me what state you are in I can confirm that this is the program that is available in your area.

    As you can see, Ford Credit publishes lease rates instead of money factors for the vehicles that it leases. You can convert its lease rates into approximate money factor equivalents by dividing them by 2400.

    Ford is providing a cash incentive of up to $500 on leases of the '09 MKX in select regions.

    Car_man
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  • ebeyderebeyder Member Posts: 1
    Hey Car Man,

    Are there currently any incentives (specifically lease cash/rebate) available for the MKX, MKS, and MKZ in the NY region?

    I am looking at all three depending on which is the best value.

    Thanks
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