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Lincoln MKZ Lease Questions

CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
edited May 2015 in Lincoln
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  • fsufanfsufan Member Posts: 35
    Thanks Car-Man, can you shed some light on the national "signature sales event" program Lincoln has going on right now:
    2006 Lincoln Zephyr
    $364 a month,
    39 month Red Carpet Lease.
    $0 Cash Due at Signing
    $0 Down Payment
    $0 First Month's Payment
    Security deposit waived.
    Excludes tax, title and license fees.
    Specifically, interest rate/money factor, not sure what Ford uses. The residual value for 12K & 15K per year. MSRP of the base vehicle is $29,660. I think Lincoln has $1000 customer cash back that is used as a cap cost reduction. Is the acquisition fee waived or rolled into the payment? Thank
  • rj123456rj123456 Member Posts: 140
    Here's a question. I saw a promo ad for a Zephyr with $4K down 39 month lease for $179+tax. This was the base model with 3 options: THX, Cooled Seats, 17" chrome wheels for an MSRP of $32,045 (incl. destination charge).

    I don't know what the residual value they were using. This seems like a terrific deal, is it?
  • kmoskmos Member Posts: 5
    Carman, can you comment on the previos posts. Thanks.

    Can you actually lower the monthly paymnt on the red carpet lease special? I am trying to get a pymnt under $300 per month. The current special said $364/mnth w/ zero down.

    Thanks in advance.
  • rj123456rj123456 Member Posts: 140
    Yes, I ended up with $0 down and $294/month 39 months $16,250 residual. The only catch I can see is 10,500 miles per year.
  • kmoskmos Member Posts: 5
    Hi rj123456

    How did you get the monthly paymnt so low without a down payment?
  • rj123456rj123456 Member Posts: 140
    It was the Memorial Day weekend special and I went at 7pm on Monday.

    In fact the Zephyr was not even on my radar screen till I read the ad and the #s were too good to be true. And in the process of trying to screw me with various warranties and other payments I think they got themselves all wrapped up in knots trying to undo it. The effective APR on the lease is 0.74%.
  • BeamerManBeamerMan Member Posts: 64
    Yes Carman it is me again on this side. I am going to lease a 07 Lincoln MKZ. What types of pitfalls from Ford leasing should I look for? What is their lowest money factor at this time? Is the 39 month lease they are currently advertising a good deal? Again, thanks as always.
  • BeamerManBeamerMan Member Posts: 64
    Hi Pat or Karens, I never rexceived an answer from my July post so here we go again. Iam getting ready to enter the domestic world of Lincoln. Hope I am not disappointed. What is a good money factor for a red carpet lease, I will be looking at 10 k miles and 36 months with 0 down. I have the best of credit am coming off a BMW lease. Also any word on the availability would be appreciated. Thanks so much, Beamerman
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BeamerMan. I don't think that there are any "pitfalls" to look out for when leasing through Ford Credit. Just negotiate as low a selling price as you can on the car that you are interested in and then make sure that the dealer that you are leasing it through is using a reasonable lease rate. I actually haven't seen Ford Credit's lease program for the 2007 Lincoln MKZ yet. It may not have a special lease program on it yet. You mentioned that you saw a special advertised lease for this car, where did you see it and how much was it? The only special offer that I have seen on the MKZ is 2.9% financing for up to 3 years, 3.9% for 4 years, 4.9% for 5 years, and 6.9^ for 6 years.

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  • BeamerManBeamerMan Member Posts: 64
    Carman. so glad you are back! I have an xplan for the car, are you familiar with that? It is approx. 1 % over invoice. Seems anyone can get one. I am just worried about the money factor. Glad you are back, Wayne.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks, BeamerMan. I heard that you were looking for me. I am very familiar with Ford's X-Plan. It is a very good deal. I still haven't seen any info on leasing the MKZ. As I mentioned earlier, Ford may not have introduced a special lease program on it yet. It it has not launched one recently, I suspect that it will by October.

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  • BeamerManBeamerMan Member Posts: 64
    As usual Carman, I will await your sage advice. You are the man! Thanks so much, Wayne.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Wayne.

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  • realtorken1realtorken1 Member Posts: 14
    Any updates on Lease specials?
  • carman77471carman77471 Member Posts: 14
    Ford is offering .000625 = 1.5 for tier 0 credit (perfect) :)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey realtorken1. Lincoln is still providing lease rate and lease cash support on the 2007 Zephyr. Its lease program varies by term, but its base lease rate for a 36 month lease is currently only 1%. Plus it has $1,500 lease cash to help you negotiate an attractive capitalized cost.

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  • BeamerManBeamerMan Member Posts: 64
    Hi Car_man, Where are those lease terms available, I can't find them on your website.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BeamerMan. I don't believe that Edmunds.com lists the details of manufacturers lease programs on this site, just their special financing rates and cash incentives.

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  • vinnie7vinnie7 Member Posts: 1
    Firt time on this web site. Does anyone out there know what flexibility dealers have on the current MKZ lease offer. It's 39 month, $399 per month, 0 down. Can extras be negotiated at no charge???
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome vinnie7. Most manufacturers' advertised lease payments leave a little meat on the bone so to speak in terms of vehicles' selling prices. Savvy consumers who shop around are usually able to beat manufacturers' advertised leases. Shop around and negotiate as low a selling price as you can on the MKZ that you are interested in and then have the dealer that you are working with calculate its lease payment using its base lease rate of 1.75%.

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  • sabrina39sabrina39 Member Posts: 1
    Hi carman. I'm new to this site. Never did forum stuff before, but I started reading all the stuff about leases and I feel pretty good about it now. Do you know what the money factor and residual is on a lincoln MKZ today?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome sabrina39. I'm glad that you've learned a lot about leasing from this forum. Ford Credit's lease program for the Lincoln MKZ varies by term, mileage allowance, and region. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year and I will provide you with info on this car's most widely available lease program. If you provide me with the aforementioned information I will be able to give you a more detailed response. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKZ with 15,000 miles per year are 1.5% 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 published lease rates into approximate money factor equivalents by dividing them by 2400. So a lease rate of 1.5% would be equivalent to a money factor of around .00063.

    Car_man
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  • pegasus17pegasus17 Member Posts: 536
    Carman, u rock. Please help me decipher the current lincoln promo on the MKZ. Zero o-t-d, 39 months, 386/month, base vehicle (MSRP=29950). looking for residual and money factor and alternate residual for 12000 miles...THX
    info: http://www.lincoln.com/shoptools/special_offers.asp?vehicle=mkz&year=2007&zipcod- e=
  • jg1515jg1515 Member Posts: 4
    I'm trying to get a better grasp on the whole lease thing, but I just wanted to share the one and only quote I've gotten so far: Base MKZ 2007 no options from Long Island NY:

    $368.06/month & $1951.00 up front for bank fees, etc. Both prices include NY sales tax of 8.625% I forgot what the quote was on the car...I thought he said $28.7K, I can't remember. Also was quoted an additional $800 for HIDs and the rear spoiler (which I think is ABSOLUTELY necessary for the back of this car!)
  • pegasus17pegasus17 Member Posts: 536
    re: 25
    click the link in post24 to see the current lincoln national offer which is 386/month (w/o tax) and zero out the door; it makes no sense to accessorize a leased vehicle since that money is wasted after lease turn-in. just my .02
  • newleaserrrnewleaserrr Member Posts: 3
    This may be a stupid question, but if Lincoln is offering $0 down, $0 cash, first month free and $386/mo. for a 39 month lease, what do you negotiate? Does it matter to negotiate the cap cost and residual? If you're paying $386/mo, why would anything else matter? It won't affect your payment would it? I would not buy the car after the lease, but probably step up to a lexus.
    Just wondering if I'm missing something...
  • pegasus17pegasus17 Member Posts: 536
    Not a stupid question at all. Sometimes the manufacturers advertised leases include a substantial amount of dealer profit as well as the subsidized lease rate and residual. You MAY be able to do better than 386 if the dealer wants to move cars before April 2.
  • newleaserrrnewleaserrr Member Posts: 3
    Thanks Pegasus. If I understand, you're saying see what I could get as a lease based on a negotiated cap cost, residual, $0 down, etc. and see if it compares to the $386 deal, right? That makes sense.
  • pegasus17pegasus17 Member Posts: 536
    The residual percentage and lease rate (aka money factor) are set by FMC. The cap cost includes a certain amount of dealer profit which they don't disclose. If you figure out what that is, it becomes negotiable and you may end up with a better deal than 386 (which is high IMO). Good luck and remember information is power when it comes to leasing!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks pegasus17. I am familiar with the $386 per month advertised lease that you referenced in your post. I believe that the selling price that was used to arrive at this lease payment is around $950 over dealer invoice, which isn't bad. If you are in an area that has a decent level of competition, you may be able to beat the selling price that the advertised deal is based on by a couple hundred dollars, lowering the monthly payment by a few dollars per month. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKZ with 12,000 miles per year are 1.5% 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 published lease rate into an approximate money factor equivalent by dividing it by 2400.

    Car_man
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  • hardhawkhardhawk Member Posts: 702
    Car Man: Here is what I am looking at. 2007 MKZ FWD. MSRP of $34,465. Selling price of $32,661 less $500 rebate. 10,500 miles per year. 51% residual. 2.25% rate 39 month term. Dealer says payment is $494.90 per month. This may include about 8% sales tax on each payment. I am checking on that. What is your take on this?
  • andycintiandycinti Member Posts: 2
    Carman - My dad is a retired Ford employee and I am considering a lease of an MKZ. The Z plan pricing on the Ford web site is about $2,600 - $3,000 below MSRP depending on options selected. My question is this: am I always better off just telling the sales guy I am buying/leasing on z plan as soon as I walk in? Is it possible I may be able to get a better deal than z plan in a few months when they start clearing out 2007 inventory? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hardhawk. The car that you described has a spread of around $2,800 between its full MSRP and its dealer invoice price. That puts the $1,800 discount that you were quoted at around $1,000 over invoice. If you are in an area that has a decent level of competition and you shop around I would not be surprised if you were able to beat this price by $500 or so. According to the latest information that I have seen, Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKZ 2WD with 10,500 miles per year are 1.75% and 51%, respectively.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi andycinti. I personally doubt that you will be able to negotiate a deal that's much better than the Z-Plan price on your own.

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  • setampsetamp Member Posts: 16
    Does anyone know the residual % and the interest factor used for the new MKZ 39 month lease promotion? Also, any help would be appreciated for selling price. I just hit the local dealership and they have a BUNCH of MKZ's on the lot.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi setamp. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKZ 2WD with 12,000 miles per year are 1.5% and 49%, respectively. When negotiating your lease on this car, make sure to take advantage of the $500 lease cash that is currently available on it.

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  • patrick2patrick2 Member Posts: 2
    Hello, I was wondering, if anyone on this board, has some info
    on the financial numbers for the 2008 Lincoln MKZ. What I am looking for is the residual and interest rate for the 2008 model. I was going to wait about 30 days and lease one with the new Sync system in it. Any help I would appreciate it.
    Thanks.
    Fltrucker :shades:
  • casolorzcasolorz Member Posts: 88
    Car_man or anyone else who wants to contribute. I am hoping to lease an mkz, 12k miles, 36mos (39 ok). The msrp is 33,005.00 and my credit scores are between 640 and 670 and my wifes are between 660 and 680. I have a tradein but I am only hoping to get enough for it to pay it off.
    What do you guys think a pretax payment might be like with zero down?
    Thanks.
  • dandydon2dandydon2 Member Posts: 77
    Question:
    Is cheaper for me to buy or lease this 2008 MKZ?
    Assumptions:
    • MSRP = $33,680
    • Price if purchased (including $1,000 cash back)= $29,206
    • Lease price (including $500 factory allowance)= $29,706
    • Own or lease for 24 months
    • Drive 12,000 miles per year
    • Two year residual value = 62% of MSRP
    • If Buy, pay all cash – no financing required
    • If Lease, pay $5,000 down plus $350 start-up fee
    • Consider lost opportunity cost for cash tied up for purchase option at 5%
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi casolorz. This car's lease payment will depend upon the selling price that you are able to negotiate on it. The selling prices of leased vehicles are negotiable. The lower your car's selling price is, the lower its monthly payment will be. For now, I will assume that you will be able to negotiate a $2,000 discount on this car. Add to this the $500 lease cash that is currently available on it and we arrive at a total capitalized cost reduction of $2,500. According to my calculations, if you were to lease a 2008 Lincoln MKZ that has an MSRP of $33,005 and a capitalized cost of $30,505 through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $415.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dandydon2. Whether is it cheaper to lease this car for two years or to purchase it and sell it after two years depends upon how realistic you believe its residual value is. Ignoring the interest expense, theoretically if this car's residual value accurately reflects what it will be worth in two years one would come out about the same if they purchase or leased it. Residual values are not perfect though. In fact, I suspect that Ford Credit is overestimating this car's residual value. If that is the case, you would be much better off leasing and letting them take the hit than absorbing the additional depreciation on your own.

    Furthermore, Ford is currently providing a special 1.75% interest rate on leases of the 2008 Lincoln MKZ. This is an additional benefit of leasing because this is a much lower interest rate than you would be able to get if you were to finance this car through an independent bank. Plus, you should be able to do better than 1.75% by investing the money that you would have laid out had you paid cash for this car.

    If I was positive that I was going to only keep this MKZ for only two years I personally would definitely lease it.

    Car_man
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  • casolorzcasolorz Member Posts: 88
    Thank you very much, that gives me a great idea of what to look for. How can I easily find out the money factors? that will greatly help me figure out what car to get (looking at the acura tsx as well).

    --Carlos
  • smokiejoesmokiejoe Member Posts: 26
    Looking real close at an MKZ.
    I am a Cadillac man and the new CTS is looking real good, but right now they have bad lease rates.

    I also like what I am hearing about reliability of the MKZ.
    Drove vehicle, liked the power, AWD, THX, Xenon, Light wood trimmed interior looks sharp.

    What I have from my local dealer is:

    MSRP: $34370
    Rebate -500
    Disc -1479
    Total $32391
    2% Interest
    54% Residual
    39 month Lease 12K
    9% State Tax
    Approx $800 add on Lease Fees
    $446 per month $1K Down
    $475 per month $0 Down

    I know I can whittle them down probably $20 or $30 per month.

    Any comments to make my decision easier.

    Thanks
  • casolorzcasolorz Member Posts: 88
    I am not sure but that doesn't sound like its even below invoice. You should probably start there, then take out rebates.
    I am hoping to get a deal on them but I am waiting for one with SYNC.
  • ventr4thventr4th Member Posts: 9
    I just returned from the Ford dealer in Ft. Lauderdale who quoted me a lease rate of $468/month for a 2008 Ford Edge Limited (similar the the 07' SEL Plus?) with Sync and power liftgates. This is for a 36 month lease with sales tax included.

    Last week I test drove the 2008 Lincoln MKX at the dealership in Pompano Beach, FL. Their price for the base model (no liftgate but it includes Sync and air conditioned seats which are not available on the Edge) is as follows:

    Here is the information that you requested on a lease. 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 .

    What other lease questions should I be asking?

    I do not have the MSRP's for either of these cars but if anyone out there has leased either a 2008 Ford Edge Limited or a 2008 Lincoln MKX can you tell me if the lease rates are competitive? I can't imagine why anyone would pay nearly the same for an Edge as for a Lincoln?
  • ddeliseddelise Member Posts: 353
    Hello -

    Looking for the current 36 or 39 month (whichever has better rates) Money Factor and Residual for the 2008 MKZ FWD in Florida. Also, what are the current lease incentives.

    Thanks - Damon
  • ddeliseddelise Member Posts: 353
    Looking for 12k miles/yr., along with acquisition fee.

    Thanks - Damon
  • bhmr59bhmr59 Member Posts: 1,601
    I know someone who just leased an MKZ. (She is very badge conscious.)

    I can't imagine why anyone would pay the thousands of extra dollars for this car just because the badge says "Lincoln" instead of "Ford."
  • casolorzcasolorz Member Posts: 88
    I considered the milan and the mkz a while ago and test drove both. There is really very little in common between these two cars when it comes to driving them. True the milan and fusion do look nice but the inside quality, features and driving experience was totally different.
    I guess it all comes down to what you enjoy, if I had gone with a sedan I would definitely have gone with the mkz over the milan. Just try pushing the gas real hard on the milan and then do the same on the mkz, its not about the acceleration but the down shift, its just so much smoother. Also the steering was annoyingly soft on the milan, the mkz had fairly soft steering too but not as bad as the milan.
    When it comes to inside comfort, the milan is a nice regular car, the mkz feels like you just sat down on your lazy boy at home, its so comfortable that it almost makes that THX on the screen worth the money (I wouldn't have gotten that but then I am not into audio very much).

    It really comes down to what you like to have, in my case I just couldn't get over the lack of some basic features, mostly power features like memory seats and automatic things like windshield wipers.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Carlos. Unfortunately, I am not aware of any resource that provides information on banks' actual lease programs to the general public. You should be able to find out what the lease programs are like for most vehicles that you are interested in by visiting the appropriate discussions here though.

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