Lincoln MKX Lease Questions

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  • nybriangnybriang Member Posts: 2
    I am pricing out the Lincoln MKX and wanted to know the residuals and money factor. Does anyone know??
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi nybriang. I can give you an idea of what this truck's lease rate is currently like. In order for me to do so though, I am going to have to make some assumptions about what part of the country you are in and how long you want to lease it for. For now I will assume that you are in New York (I'm guessing that this is the case based upon the "ny" part of your user i.d.) and that you want to lease for 36 months. Let me know if any of these assumptions are incorrect. Ford Credit's current base lease rate for a 36 month lease of a 2007 Lincoln MKX in New York is 2.0%. As you can see, Ford Credit publishes lease rates instead of residual values for the vehicles that it leases. You can convert its published lease rates into approximate money factor equivalents by dividing them by 2400. Let me know if you need any additional info.

    Car_man
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  • zoitsa21zoitsa21 Member Posts: 1
    I have been waiting for the MKX to hit the showrooms floors and now that they are here, (detroit)I was wondering why Ford is not offering any rebates? I have leased two Lincoln LS's in the past 5 years and always got great rebates. Along with the A-Plan that I receive I usually don't blink an eye however rebates are really needed if Ford wants to sell this. Any upcoming rebates from the manufacturer coming soon?? And is the panorama sunroof worth the money?
    Thanks.
  • bradlicbradlic Member Posts: 8
    I ordered my MKX about 2 week ago. I agree with you that there should be rebates and at the very least owner loyalty cash. I am in the Detroit area with A-Plan as well. I guess I will be attending the auto show this week in search for auto show bonus cash coupons.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi zoitsa21. Manufacturers usually try to ride new or redesigned vehicles for as long as they can without providing any sort of incentives on them. The demand for new vehicles often enables them to do this. Ford would be in big trouble if they had to provide large cash incentives on the Edge and MKX right out of the gate. It would be an indication that it was either priced way too high or was not well received by the public. I am sure that Ford will eventually have to introduce cash incentives on the MKX, but it may be a number of months before it happens.

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  • pablo651pablo651 Member Posts: 7
    I will be shopping for a MDX in the Las Vegas area on the A Plan,what figures are they quoting in the Detroit area ??
  • heyjewelheyjewel Member Posts: 1,046
    "I will be shopping for a MDX in the Las Vegas area on the A Plan,what figures are they quoting in the Detroit area ?? "

    Sounds like quite a Vegas gamble - trying to convince Acura to sell u a vehicle on a Ford A plan.

    (Anyone for STOOOPID letter names still???)
  • bradlicbradlic Member Posts: 8
    Here is the prices I was quoted for a MXK in Detroit:

    MSRP: $39,080
    18,000/ Miles Year
    24 mos
    $2500 down ~$3100 due at delivery
    $440 month. A-Plan

    MSRP: $41,880
    18,000/ Miles Year
    24 mos
    $2500 down ~$3100 due at delivery
    $496 month. A-Plan
  • monkstermannmonkstermann Member Posts: 27
    ok, what the heck is the "A-plan"??? :confuse: What's the deal? Can anybody get it if they wish?
    You gotta give those of us who live in places other than Detroit a little slack. :D

    thx
  • bradlicbradlic Member Posts: 8
    A-Plan is the discount Ford employees get on new Ford Motor Company vehicle products.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi pablo651. I suspect that you mean the Lincoln MKX and not the Acura MDX :P . I don't blame you for getting confused with the alphabet soup of new vehicle names out there. Ford Credit's lease program for this vehicle varies by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 MKX AWD with 15,000 miles per year are 1.5% and 51%, respectively. If you provide me with the full MSRP and approximate selling price of the exact model that you are interested in I would be happy to estimate what your lease payment should be.

    Car_man
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  • pablo651pablo651 Member Posts: 7
    Thank You Car_man, I did mean the MKX and your figures are all I need. I am going back and forth on a purchase between the MKX & the Lexus RX350 and this site has been invaluable, Thanks Again.
  • mistereedmistereed Member Posts: 9
    Here is an offer I received. Anyone seen anything better? Comments? I live in Ohio.

    The figures on the MKX we optioned for you are as follows:

    39 mos lease @ 10,500 miles per year:
    MSRP: 42,115.00
    X plan : 39,446.85
    L.E.V.%:52%
    lease end value:21,899.80
    APR %: 1.75%
    amount due @ start:1,176.76(includes 1rst payment,security deposit,cap cost,annual fees)
    total monthly payment:546.76
  • mistereedmistereed Member Posts: 9
    MSRP 43890.00
    XPlan 40945.37
    ?7.00% + Up Front Sales Tax? 1485.39
    ?Bank Acquisition Fee? 595.00
    39 mo/10,500/yr
    LEV=51%
    LEV=22,383.90
    mo pmnt 529.28
    lease charge 47.38
    base mo payment 576.66

    questions
    1)i thought taxes were based on the monthly payment and not "up front"?
    2)what is a bank acquisition fee for 595.00?
    3)dealer said APR is 1.75 so i cant figure out how they came up with $47.38/mo for that?
    4)does dealer have any say in the LEV%? my previous quote for same term w/slightly different options had [email protected]%
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're very welcome, pablo651. Good luck in your quest for a new vehicle.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi mistereed. Different states use different methods for calculating sales tax on leased vehicles. I am not personally familiar with how it is calculated in the state of Ohio, but you may be able to find out by visiting one of the following sites: Ohio Bureau of Motor Vehicles or Ohio Department of Taxation.

    All banks that lease vehicles to consumers charge what is known as an acquisition fee. Ford Credit charges an acquisition fee of $595 on every Ford, Lincoln, or Mercury vehicle that it leases. Individual dealers do not have the authority to waive this fee, but you can add it into your vehicle's capitalized cost to make it part of your monthly payment instead of paying it at lease signing if you want.

    The 1.75% lease rate that you were quoted is right in line with Ford Credit's base lease rate for a 39 month lease of a 2007 Lincoln MKX right now. You can use the formula that is outlined in the following article to calculate what the monthly payment on this truck should be: Calculate Your Own Lease Payment. In order to use the formula though, the lease rate that you were quoted has to be converted into a money factor. To do that you have to divide it by 2400. So, a lease rate of 1.75% is equivalent to a money factor of around 0.00073.

    Vehicles' residual value percentages are set by the bank that you are leasing through. Individual dealers do not have the ability to alter banks' residual values, so they are not negotiable.

    Car_man
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  • bfeldstein1bfeldstein1 Member Posts: 14
    I recently looked at an MKX with both Elite and Ultimate packages and heated rear seats (MSRP $43,530). The dealer quoted me a selling price of $42,000. I know that the invoice price is $39,635. How much above invoice have people been paying? I was quoted a lease price of $714 per month for 36 months and 15K miles per year. There was no money down other than tax and tags. It still seemed like a high monthly payment. What kind of deals jave people been getting?
  • lasher30lasher30 Member Posts: 18
    Would like all of your expert opinions on this lease offer I got...

    Ultimate Package, Towing, Sirius, and Roof Rack
    MSRP: $39,025
    Lease Payment: $558.55
    Lease Length: 24
    Miles/Year: 10,500
    Cap Cost: $36,641.12 (X-plan)
    Money Factor: 0.00125
    Residual: 65%
    No first mo payment or SD. Only title and plates due at signing
  • txlablovertxlablover Member Posts: 8
    What is money factor and residual value for the MKX in Texas? I am looking at both the FWD and AWD, either 36 or 48 months at 12,000 miles/year.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hello bfeldstein1. I was playing around with the MKX at the New York Auto Show recently and I must say that I really liked it. I particularly liked the "Medium Camel" interior. Lincoln is currently providing $500 lease cash plus it is waiving the first month's lease payment on the 2007 MKX. The price that you were quoted is $2,365 over invoice, which really is equivalent to $2,865 over once the lease cash is taken into account. I am not intimately familiar with what the market is like for the MKX right now, but if I was in the market for one I personally would want a larger discount than that. If you are in an area that has a couple of Lincoln dealers it wouldn't hurt to shop around a little bit. When you arrive at a price that you are comfortable with, make sure that the dealer uses Ford Credit's base lease rate of 1.75% (for 36 months) to calculate your monthly payment.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi lasher30. You never mentioned the selling price of the MKX that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    For now I can tell you that the money factor that you mentioned is way too high. Ford Credit published lease rates instead of money factors for the vehicles that it leases. One can convert money factors into approximate lease rate equivalents by multiplying them by 2400. So a money factor of .00125 is equivalent to an interest rate of around 3%. Ford Credit's actual base lease rate for a 24 month lease of an MKX is only 0.25%. This is a very attractive rate that you need to make sure you are getting.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Greetings txlablover. 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. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX 2WD or AWD (their lease programs are the same) with 12,000 miles per year are 1.75% and 52%, respectively. The numbers for an otherwise identical 48 month lease are 4.5% and 43%. When negotiating your lease on this truck, keep in mind that Lincoln is providing $500 lease cash and waiving the first month's lease payment on it.

    Car_man
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  • magoo99magoo99 Member Posts: 13
    Does anyone know the lease factors for the MKX for the month of May.... money factor and residuals for either a 36k or 45k miles and any incentives that apply to a May lease.
  • dylcondylcon Member Posts: 8
    Stopped down at Lincoln to get a price on a new MKX for a lease and was wondering if this was considered a fair deal (I thought so).

    A loaded MKX AWD with the Elite pkg, came to a selling price of $41,875.

    On a 24 month lease with 10,500 miles/yr the payments were $520/mo including tax; I'd have to put $1,800 down.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Here's the information that you're looking for, magoo99. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX with 15,000 miles per year are 1.5% and 50%, respectively. With only 12,000 miles per year, this truck's residual value would be 2% higher. As you can see, Ford Credit publishes lease rates for the vehicles that it leases instead of money factors. You can convert its published lease rate into an approximate money factor equivalent by dividing it by 2400. When negotiating your lease on this truck, make sure to take advantage of the $1,000 lease cash that is currently available on it. This cash will help you to negotiate an attractive capitalized cost.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi dylcon. What is this truck's full MSRP? I ask because it will show me how much of a discount you are being given, which will help me to formulate an opinion of your deal. Make sure that the dealer that you are working with is using Ford Credit's amazing base lease rate of 0.25% to calculate your monthly payment.

    Car_man
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  • dylcondylcon Member Posts: 8
    Car man,

    What is the residual on a 36 month lease with 10,500 miles/yr...53% or 54%?
  • dylcondylcon Member Posts: 8
    Something's not right with this deal I was just offered on an x plan.

    Lincoln MKX
    MSRP $41,650
    X plan price $38,857
    Lease cash rebate $1,000
    $1,000 cash down
    36 months, 10,500 miles/yr
    52% residual

    $601/pr month?

    Shouldn't the residual be higher (area zip 34677) on this vehicle, and the monthly payment lower (around $548)?
  • billsyrbillsyr Member Posts: 5
    I find this site very informative. Want to say thanks to all the buyers and to Carman for sharing.

    We're in the market for a MKX with a dealership visit scheduled for Tuesday. We're going to Driver's Village, North Syracuse (Cicero maybe). It's one of these new mega dealerships that sell almost every brand of car. I did some online viewing and got a call from the dealership of course. Before I go, can you give me some heads up of what to look for. What to ask. We have a Jeep Grand Cherokee with an expiring lease. We looked at the new Jeeps and found them way off the mark in quality; cheap actually for the price and lease forward dealers are not available on most of what they do have so we asked the sale rep to show us something else. He suggested either the Lincoln or a Nissan. We're going to test drive both and I'm sure they'll want to make us an offer. How does one get the 'best offer' on paper so you can leave...think about it and maybe even comparison shop. What is the current lease rates in our area for 15k/yr. We also have a '99 Grand Am to trade in. How should I go about this and keep the deal fairly clean and not let it all become the monthly payment sales tricks?

    thanks !!!!
  • ridge2ridge2 Member Posts: 7
    will be getting my MKX - vivid red MKX next week. Is there a way to know if I have a good lease deal?

    I am leasing the MKX with only the ultimate package showing MSRP of $38440 for $444 a month.
    Here are the details
    - May incentives of $1250 cash rebate
    - $1000 MFG to customer rebate sent to me from FORD
    (no other money put down),
    - 39 months with 12000 miles,
    - money factor based on 1.5% top tier credit
    _ Monthly lease including taxes $444 a month.
    - Only other expense will be my "out the door" which I will pay separately for a total of $1567
    THis is in New Jersesy
    Hoping I am getting a good lease deal.
  • bromanobromano Member Posts: 6
    Dear Ridge2. We're in the process of buying much the same car in a dif color. Offer we got was $38,000 at 1.5%, too. We haven't talked payments yet. The dealer here (Drivers' village), has not mentioned the incentives and rebates you noted in your message....so that's good to hear about. I'll have to ask! Thanks. :blush:
  • ridge2ridge2 Member Posts: 7
    Dear Bromano,

    Go to the Ford site and select special offers. There you will see all the lease special that are being offered. The one until July 2007 is a cash rebate of $1250. you can bring it with you that is what I did.
    The other one that I had was a special offfering to me from FORD - not sure why I received it ( I was leaseing from another company) but glad they sent it to me - I receive that 3 months ago in the mail.
    Good luck Hope we both are getting a good deal.
    :confuse:
  • billsyrbillsyr Member Posts: 5
    We pretty much closed on our MKX deal this morning. I have a question. We applied an employee "X" plan to the cost. We were told that it is applied to the MSRP. Is that correct?
  • dylcondylcon Member Posts: 8
    Nobody seems to care and answer in this forum so....it seems to be a waste of time to ask any questions.

    Good luck.
  • ridge2ridge2 Member Posts: 7
    I think you are right. My guess is after everybody is finished with the neg and has their car. THey don't bother looking back here.
    Here wishing you a good driving experience :D
  • hardhawkhardhawk Member Posts: 702
    I don't know if we are supposed to e-mail Car Man direct or just post here. There never seem to be any responses here. It would be nice if he posted each month the residuals, money factors, and incentives for each vehicle. Then we would not have to ask and gamble on hearing back. I am sure there is lots more action on some of the other lease boards, so in fairness he is very busy.
  • cad4mecad4me Member Posts: 21
    that's a good deal. It looks like the price of the car is marked down to about 35K using the current interest rates on 39 mo leases. May be there is little more room depending on how bad the dealer wants to close it out.
    you may be able to get a better deal with 24 mo lease; interest rate is .25% currently.
  • carquestion2carquestion2 Member Posts: 1
    How do you check the accuracy of what the dealer lists as the residual value of the vehicle at the end of the lease period?
  • billsyrbillsyr Member Posts: 5
    Well, we picked up our Lincoln MDX and it's super. Gas mileage on a long trip we took this weekend was about 19mpg. Comfort was good except the front headrests. They lean forward and really are in the way. I went so far as to turn y wife's around so she could sit comfortably. Besides that the car rides very nice and the systems all work perfectly. The center backseat armrest does interfer with rearview to a minor degree. Our final price was very cometitive. I didn't get a chance to compare this to the new Ford Escape but I've been told it's very much the same car; just more expensive.
  • jak51jak51 Member Posts: 17
    I picked up my MKX Saturday. I got to use X-plan for the lease. I understand what you are saying about the headrests, but they are not as uncomfortable as in the Edge. They seem to lean even further forward in the Edge's I test drove and were really uncomfortable so I went with the Lincoln. The vehicle rides smoothly and finally got a vehicle that has some decent OEM tires on it. Amazed that at idle I don't feel engine vibration through the steering wheel at all! I have owned Nissan, Toyota and Honda and always had some engine feedback through the steering wheel. The only one besides the MKX that didn't was the Lexus RX350 but that was thousands more.
  • mistereedmistereed Member Posts: 9
    Does anyone know the published lease rates and risidual % for the following

    MKX MSRP 43230

    36 mo 10.5k/12k
    39 mo 10.5k/12k

    Any help appreciated - this is for Ohio
  • jak51jak51 Member Posts: 17
    I can tell you for 36 months the rate is 1.5% and the residual is 52% for a MKX and 51% for a MKX w/Ultimate package on 12K. I was told there were no anticipated changes for June, when I signed my papers May 31st. I am in IN, I would think they should be the same for Ohio.
  • ridge2ridge2 Member Posts: 7
    When I purchased my car last month in May I was told it was 49% - I live in NJ. I thought that was low but each dealer told me the same when I was pricing the car.

    I do have it and like the car a lot. But the glare is bad. But one gets use to it. :shades:
  • jak51jak51 Member Posts: 17
    If your lease was 15K and you have the Ultimate package the residual was 49%. I have a 12K lease which puts the residual 2% higher.

    The glare can be a challenge at times. I have the stone interior which is not too bad. I believe the glare is enhanced by the steep angle of the windshield. I just got off my Honda Pilot lease and it's windshield was not as angled as the MKX. It had some glare on sunny days even with the dark interior but not a much as the MKX.
  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi dylcon. The 36 month, 10,500 mile per year residual value for a base 2007 Lincoln MKX is currently 53%.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    You're very welcome, billsyr. I'm glad that you find this site so helpful. Dealers are usually fairly hesitant to provide consumers with written quotes on vehicles and rightfully so because if they let you leave the dealership with a written offer there is a good chance that you will shop it all over town and never come back. The best way to get a good deal on the Lincoln MKX that you are interested in is to comparison shop for the lowest possible selling price. Once you have a selling price that you are comfortable with, have the dealer that gave you it calculate your truck's lease payment using its base lease rate. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX with 15,000 miles per year are 1.5% and 50%, respectively.

    I see that you are considering trading in your Grand Cherokee when you get your new vehicle. There's nothing wrong with trading in your current vehicle when leasing, just make sure that you have the dealer that you trade it in to cut you a check for any equity that you have in it rather than using the proceeds from it as a down payment for your lease. I always advise consumers against making large down payments when leasing. Those who do risk losing all or part of the money that they put down if their leased vehicle is totaled in an accident or stolen and never recovered.

    Car_man
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  • CarMan@Edmunds[email protected] Member Posts: 38,514
    Hi mistereed. Ford Credit's base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX (non-Ultimate) with 12,000 miles per year are 1.5% and 52%, respectively. The numbers for an otherwise identical 39 month lease are 1.75% and 50%. If you were to lease this truck with only 10,500 miles per year, its residual values would be 1% higher. When negotiating your lease on this truck, make sure to take the $1,000 lease cash that Lincoln is providing on it into account. It will help you to negotiate an attractive capitalized cost for your lease.

    Car_man
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  • ridge2ridge2 Member Posts: 7
    I don't understand the numbers that are presented don't seem to jive with what I was told by the dealership at the time of leasing - but I believe I got a very good deal with a 39 month lease for $431 a month with 12 miles per year, and no additional money down but the rebates and a cash promotion of $1000 that was given to me by the Ford Motor company. But they told me the residual was 49% :confuse:
  • prairiecritterprairiecritter Member Posts: 2
    This site is awesome...and this is my first post! :) While my eyes have been opened wide with great information, I'm embarassed about all the money I've wasted over the years, due to my lack of education about leasing! :cry:

    (But on to business) Does anyone have updated lease rate information for the MKX? I'm looking at an MKX AWD with the Ultimate package. I'm probably most interested in a 36-month lease with 12k miles/yr, but would consider a 10.5k/yr lease, depending upon how the rates shake out.

    I'd appreciate any guidance you can give me...thanks so much in advance!
  • hardhawkhardhawk Member Posts: 702
    Car Man:

    Can you post the lease rates and residuals for the 2007 MKX Ultimate both AWD and FWD for 36 and 39 month leases with 12000 miles per year? The information was supposed to change today. Thank you.
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