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Lincoln MKX Lease Questions

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  • Here is what I got today
    2008 FWD white chocolate
    36 month, 15,000miles/year
    ultimate package,panoramic sunroof,20inch wheels

    Payment is 522/month
    they are writing me a check for a 3months left of my lease 317/month(chevy malibu)
    My down payment including all fees is 768
    So I am out the door getting 915-768= 183( I walk away with 183 bucks)
    thought this was a decent deal
  • I purchased a MKX last May. Fairly satisfied but I'd suggest if you are open to options, that you look at the Ford Escape. It's carbon copy of the Lincoln for a lot less money. If you go with the MKX, you should be able to get a fully loaded unit for less around $500/month not including any trades or dwnpymt money. The car is not selling like Lincoln had hoped, most likely because the Excape is cutting deeply into sales. Obviously not a swift move on the part of Lincoln to copy cat a product and then try to sell it for 20% higher than the Ford.

    Operationly, the MKX gets about 20mpg. The A/C seats are cool [no pun intended] but very uncomfortable and the blind spots are something everyone should observe when you test drive the car.
  • You refer to the Ford Escape -- I think you mean the Ford Edge. The Ford Edge Limited 2008 with power lift gate lease rate for 36 months was $468. The Lincoln MKX without the Power liftgate is quoted as $493/month plus tax. The quote below is from my local lincln dealer for the MKX.

    24mo/10,500miles/with a rebate of $1,500 / $1,428.22 due at signing is $545 plus tax at 62% residual & .50% rate . 39mo/10,500miles/with a rebate of $1,500 / $1,372.44 due at signing is $493 plus tax at 52% residual & 3.0% rate .
  • I'm looking at a 2008 MKS AWD with a sticker of $41,725, and invoice of $38,223. Since IL taxes leasors based on the total purchased value of the vehicle, what would be reasonable 36, 39, & 48 months rates on this vehicle in IL with 15,000 miles per year?
  • I stand corrected about the Ford. The Edge is the correct model. The 39 mo. MKX lease is about what we were quoted back in June with that residual.
  • The initial quote I received for a 2008 MKX from the Lincoln dealer in Pompano Beach, FL was only about $40/month higher then the quote I got from the Ford dealer in Ft. Lauderdale for the 2008 Edge Limited with power liftgate. The Ford dealer personnel couldn't figure out how to use the Sync system so I ended up walking out and driving about 20 minutes to the Lincoln dealer. They had a Silver MKX on the lot with chrome wheels so I made an impulse lease with the Ultimate package (power liftgate, etc.) plus $895 for chrome 20 inch wheels.

    Here is the breakdown from the "Red Carpet" lease order form for a 24 month lease with 10.5K annual miles:
    Agreed Value $37023 (after $1500 rebate)
    Lessor Services $499
    Acquisition Fee $595
    Base payment $470.75
    Sales tax $28.25
    Monthly Payment $499

    Down payment of $3772 (I think this is where they got me because we started out with a down payment of $750. I got confused with all the add ons but I wanted the car so bad that I just handed the lease manager my credit card ...not a good idea)
    First payment $499
    Sales tax on down payment $236.35

    DID I PAY TOO MUCH OR DID I GET A GOOD DEAL??????

    I signed all the papers yesterday and went to pick up the car at 4pm today. After two hours the salesman could not get the Sync system to work with my new Motorola Bluetooth Krazer1 so we will try again tomorrow. I did get the Sync system to Sync up with a 40GB laptop external drive with about 8,000 songs. Sirius came with the car but on the way home it only received the Christian Broadcasting Network!

    I called my wife from my cell phone after I left the dealer and magically the call came up over the radio. I guess it takes awhile for the Sync process to work for the first time --- it had to download 250 numbers from my cell.
    Awesome sound system, terrific ride (my wife has a 2007 Cadillac SRX and I love the Lincoln 1000% more then the SRX).

    The Sync system is not for the technologically handicapped but I see its potential and with about another ten hours with someone at the dealership who remembers what they learned during training then I hope it lives up to its potential.
  • des4des4 Posts: 1
    I am looking to lease a 2008 MKX that is loaded with everything but the mood light package and no trailer package. Adding tinted windows for driver & passenger side, Cargo cover for the rear and DVD in head rests.We are tradeing in a 2004 Taurus that we still owe $8000.00 on. Every other dealer the top offer on our trade was around $4500.00 and this is the offer from the dealership.

    MSRP is $42,880
    49% Residual
    3.00 % Apr
    1,500 Rebate
    15,000 miles per year
    39 month lease

    679.33 per month, & due at signing

    How does this offer look?
  • You're right, tommyboy4. The lease rate that you were quoted does look a little high. According to the latest information that I have seen, Ford Credit's current base lease rate for a 36 month lease of a 2008 Lincoln MKX is only 2.75%. Make sure that the dealer that you get your vehicle from uses this rate to calculate your monthly payment.

    A base 2008 MKX has a spread of around $2,700 between its full MSRP and its dealer invoice price. So the $2,238 dealer discount that you were quoted on the unit that you are interested in looks pretty good to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi lakerunner4h. Let's assume that you are able to negotiate a selling price of around $500 over dealer invoice on the MKX that you are interested in. According to my calculations, if you were to lease a 2008 Lincoln MKX AWD that has an MSRP of $41,725 and a selling price of $37,223 ($500 over invoice minus $1,500 lease cash) through Ford Credit right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $499. The payment for an otherwise identical 39 month lease would be $493. The payment for a 48 month lease is worse than both the 36 and 39 month options so you don't want to go that route.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • I was wondering if anyone has the current residuals and money factors for a 36 month, 12,000 miles per year lease?
  • 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.
  • 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
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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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    Prices Paid: Buying & Leasing Experiences Forum
  • 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
  • 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 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 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 Posts: 9
    Thank you Houston. If I may ask, are you in the Chicagoland area? Your info is very helpful.
    Thanks
    Scumfrog
  • 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 Posts: 137
    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.
  • 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 Posts: 20
    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 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 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 Posts: 10
    Thanks for the infromation. What geographic area are you in.
  • vinnieg1vinnieg1 Posts: 53
    Orlando Florida
  • hamomhamom 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 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 Posts: 38,515
    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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    Prices Paid: Buying & Leasing Experiences Forum
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