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Lincoln MKX Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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 Posts: 20
    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 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 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 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 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 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 Posts: 38,515
    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 Posts: 38,515
    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 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 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 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 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
  • 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 Posts: 38,515
    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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  • 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.
  • 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.
  • 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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  • Thanks for the info. However, is the lease numbers any different for the
    FWD model.
  • 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.
  • 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)
  • 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.

    Car_man
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  • 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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  • 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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  • Dealer changed price after signing binder for 505/month. Now wants 543/month.
    I refusedl. Dealer would not honor signed binder.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    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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  • 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 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 Posts: 38,515
    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 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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