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Lincoln MKZ Lease Questions

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  • Hi amcdad. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2011 MKZ Hybrid with 15,000 miles per year are 4.5% and 54%, respectively.

    The numbers for an otherwise identical 39 month lease are 4.75% and 52%.

    Car_man
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  • cosanostracosanostra Posts: 74
    edited February 2011
    Car_man -

    Do you know the rates/residuals for a 36 month 12k/year lease for the 2011 MKZ Hybrid? I'm located in Nebraska if the rates vary by region. Thanks!
  • Hello cosanostra. Ford Credit's base lease rte and residual value for a 36 month lease of a 2011 Lincoln MKZ Hybrid with 12,000 miles per year are 4.5% and 56%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    De Nada cosanostra.

    Car_man
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  • debraaz1debraaz1 Posts: 10
    Dear Car man-
    I am in Phoenix,looking for a MKZ hybrid and there are none here, I had to drive a loaded non hybrid .....and liked it.

    I took the advise to just establish if I like the car or not and didn't say if I was interested in leasing or buying,
    I asked to contact me when one is coming in and they have:
    A MKZ hybrid arrived today in white platinum tri coast, camel interior with Navigation and upgraded THX sound, sunroof - I have not seen the sticker -
    I asked what they would sell me the car for and they quitted me $1000 over invoice, $38,826. ( Without seeing the sticker).

    I asked what the lease or purchase deals would work out to they told me
    a 39 month lease would be $5000 down and $487 a month for 39 months( no mileage listed yet)
    I emailed back and asked what the residual and money factor is and they said the money factor is 5.25% and the residual is 54%
    they quoted a purchase
    The sale price is $38,826 TTL  with $5,000 cash down at 4.99% you are at 625 a month for 72 months. 
    Both seem rather high..
    I saw your numbers and haven't a clue how to figure a lease out with money factor and residual, with the cost I have at 41000 over invoice, what should the lease work out to, I do not want to put $5000 down on a lease.
    Are the leases I see on the ads on TV valid for the hybrid- I really need help car man
    ">I have no idea what i am doing!!!
    Debra
  • I am disappointed if those are truly the correct money factor (0.00219) and residual (54%). What was the terms? 27, 36, 42, etc.. months? Still, those numbers are depressing.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Debra. $1,000 over invoice doesn't seem unreasonable considering the fact that there aren't many MKZ Hybrids in your area. Ford Credit's base lease rate for this car is 4.75%. Make sure that the dealer uses that lease rate and not 5.25% to calculate your payment.

    $5,000 is way too much money to put down when leasing. I always advise consumers not to make any capitalized cost reduction on leased vehicles. If they do they risk losing any money that they put down if their vehicle is totaled in an accident or stolen.

    I'd be happy to work up a payment on this car for you, but I need both its MSRP and its selling price to do so (you only mentioned the former).

    Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Car_man
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  • 10sfan10sfan Posts: 136
    Hi Car Man, sitting a a lease proposal for a 2011 FWD MKZ. MSRP $35,675, selling price $34,050, with cash due at signing is after the $3,500 cash back program (subject to state sales tax). 36 month term for $399.00 per month.

    In addition to the above tax, a tire tax, title and service fees, a $440 Security Deposit fee was removed when I mentioned it was not in the Lincoln Red Carpet Lease advertisement. Now a $595.00 acquisition fee was included, also not stated in the Linclon Red Carpet Lease advertisement.
    Your thoughts are appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi 10sfan. Ford Credit charges a $595 acquisition fee on every vehicle that it leases. The dealer won't be able to waive this fee. You can either pay it at lease signing or roll it into our vehicle's capitalized cost to make it part of your monthly payment.

    The selling price that you were quoted looks good. It's probably only around a couple hundred dollars over dealer invoice, after as you mentioned the $3,500 cash incentive is taken into account.

    Car_man
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  • Are the numbers for 39 month, 15k/year on '13 MKZ FWD 2.0 Ecoboost out yet? Thanks.
  • Yes they are coleblooded. Ford Credit's current base lease rate and residual value for a 39-month lease of a 2013 Lincoln MKZ Non-Hybrid FWD with 15,000 miles per year are 2.25% and 50%.

    Car_man
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  • It'll take some time. I lease a 12 MKZ and I also work for a Lincoln dealer. I traded out of my 11 to my 12 just so I could wait it put until the lease improves. When the new model year launches for anything you'll pay top dollar to drive one. You still have renewal rebates but its better to wait 6 months or so after launch until the programs improve. I've seen the new model and its a whole lot more vehicle than the current model. I do expect to pay more for the new one considering but I won't pay the premiums you'll have to pay the first quarter or two that they're out. Hope that helps.
  • Yea I know. Already negotiated to a reasonable amount under sticker. I'm starting to hate my dealer's service department, so it'll be a huge relief to get rid of my current car.
  • Hi Car_man,
    I'm looking for the current numbers for leasing a 2013 MKZ. I'd like to know money factor and residual for 36mo, 36k, but if there is a better deal with 39mo I'd be willing to sign up as well. Any current rebates? Also, are the numbers here different for the gas model vs the hybrid, even though stickers are the same? Thanks for your help!
  • nighthawkn117nighthawkn117 Posts: 7
    edited February 2013
    Hi Car_man,

    I'm also interested in 2013 lease rates for the MKZ. Looking for 36 - 39 Months. 15K miles and 19500.

    Looking for 3.7 AWD.

    Thank you in advance for all your help.
  • Hi nighthawkn117. Ford Credit's February base lease rate and residual value for a 36-month lease of a 2013 MKZ AWD with 15,000 miles per year are 1.0% and 54%.

    The numbers for an otherwise identical 39-month lease are 1.25% and 52%.

    Car_man
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  • berisky1berisky1 Posts: 20
    Anyone lease a top dollar MKZ yet, in California? Interested to know drive off and monthly.
  • ajpbf7ajpbf7 Posts: 63
    Hello Carman,

    Hope you are doing well. Could you please post the MF and Residual for the 2013 Lincoln MKZ(non-hybrid)? If you could post the numbers for the 24 and 36 month lease with 10k miles per year. I would appreciate it. Also, any lease cash or trunk money availble on the vehicle yet?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm doing very well thanks ajpbf7. Ford Credit's April base lease rate and residual value for a 24-month lease of a 2013 MKZ with 10,000 miles per year are 0.25% and 64%. The numbers for an otherwise identical 36-month lease are 0.25% and 55%.

    There really isn't much in the way of cash incentives on the redesigned MKZ yet.

    Car_man
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  • jberardijberardi Posts: 4
    Great intel, Car_man, thanks.

    Can you please tell me mf/residual for a 39mo lease at 12K and 15K mileage? I would ask same for 36 months, but I presume that 39 will offer the better deal. Is that a fair assumption?

    I had my 2011 MKX serviced the other day and started talking to the sales guys about the MKZ. They're telling me that there's equity in my MKX, but haven't shown a number yet. Is there a general calculation that I can apply? I'm in month 16 of 39 and have 16,000 miles with 39K alotted. No damage.

    Thanks, JB
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks and you're welcome jberardi.

    Ford Credit's April base lease rate and residual value for a 39-month lease of a 2013 Lincoln MKZ 2WD with 15,000 miles per year are 0.5% and 51% respectively.

    The residual value for a lease with 12,000 miles per year would be 2% higher.

    You're right, the 39-month term would likely result in a slightly lower monthly payment than the 36-month term.

    I'd be surprised if you could get out of an MKX 16 months into a 39 month lease without having to pay anything, but stranger things have happened. Just make sure that the dealer isn't burying any costs in your MKZ lease.

    Car_man
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  • shellzshellz Posts: 33
    edited May 2013
    Hello Car_Man,

    Do you know what the May interest rate and residual are for the MKZ Hybrid w/ Preferred package are? I'm looking at 36 months and 12,000 miles a year. I am in Texas if that matters.

    Thanks in advance!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Sure shellz. Ford Credit's May buy rate lease money factor and residual value for a 36-month lease of a 2013 MKZ Hybrid with 12,000 miles per year in Texas are 4.0% and 60%.

    Lincoln is waiving the first month's payment on leases of this car right now.

    Car_man
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  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    That doesn't seem like very aggressive lease rates.

    I looked up the pricing on a website and it looks like they are selling for around $900 OVER invoice in my area. In that case, then the capitalized cost is not that great either.
    Are there some other lease incentives in the MKZ or are there much better lease deals for May on some competing cars?
  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    36939 MSRP
    36087 Capitalized Cost.
    3 years, 36,000 miles.
    $0 cap reduction.
    What should the drive off costs, return costs and monthly payments be in California based on these numbers?
  • shellzshellz Posts: 33
    edited May 2013
    Compared to the competing hybrids, the rates don't look terrible to me. I'm pretty sure the rate is the same on a Fusion Hybrid and an Avalon hybrid -- about 4%. Looks like the residuals on both of those cars is also between 58-60%. My thinking is just to wait and see--these are all new cars so the manufacturers don't need to be aggressive. But I would think that with gas prices being relatively low, they might start to incentivize the hybrids in the next couple of months.
  • jaxs1jaxs1 Posts: 2,697
    edited May 2013
    They don't look "terrible," but there is nothing aggressive about it.
    4% sounds low compared what someone might have paid years ago, but today's interest rates are very low in general. I can finance for under 2% at my credit union. There is no amazing discount from MSRP and there is no unusually high residual. This all adds up to a very so-so lease that is not compelling at all.
    They must be in short supply. They are not trying very hard to push leases on this vehicle.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    While Lexus is slowly introducing more support on the MKZ, since it was just recently redesigned they are trying to hold off on any aggressive offers for as long as possible.

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  • magician2166magician2166 Posts: 10
    edited June 2013
    Lincoln has a terrible customer service. I had ordered my 2013 Lincoln MKZ in October 2012. I was among the first ones who did so. They informed me in April 2013 after waiting 6 months due to the production delays that they cancelled my order by mistake. Imagine that. They ordered another vehicle for me and offered $900.00 incentive for their mistake. I waited another 8 weeks to find out that my car was damaged in transit and needs repairs. My repeated attempts to find out from my dealership and Lincoln Customer Service when finally I will be getting the car did not bring any results. I walked away from this joke on June 7th. 2013 after waiting 8 months and never got the car. Meet a new Lincoln Luxury.
    I want people to know that Lincoln's ignorance and total disregard do not translate into extra they charge. If people are willing to go with Lincoln, they should understand that they will not get Lexus or Audi type service. They will not get it, period.
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