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Lincoln MKX Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ebeyder. Lincoln is currently providing a $500 cash incentive on leases of the 2009 MKX through Ford Credit. It also has $1,500 on the 2009 MKZ, but no cash on the 2009 MKS.

    If you're talking about just regular old consumer cash that is not available on leases, there is $3,500 on the '09 MKX / MKZ and again none on the '09 MKS.

    Car_man
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  • 4x44x4 Member Posts: 114
    What kind of payment am I looking at on a loaded out FWD MKX.....msrp on these has been around 45K....nav, sun roof, etc....and how much do you have to put down on a lease? i assume the smallest amount possible

    also looks like there are no incentives for June?
  • jcurtistxjcurtistx Member Posts: 1
    My wife and I are looking at a 2009 MKX to lease for 39 months and I am trying to figure out if the price I am getting is a decent deal or not. The sticker price for the car is $46035 and they are willing to take the price down to $500 below invoice plus take another $2100 (some kind of rebate) off the price of the car taking with the selling price down to just over 40k. After all is said and done and they factor in something called a "Tax Credit" which knocks my tax down to 1.25%, my monthly payments are about $640 ($0 down).

    I have never leased before so we are doing our homework to see if this is a decent price or not. The residual price they are giving me is 43% which is about $19,500 after 39 months.

    http://planolincoln.mcdavid.com/New-Inventory.aspx?InventoryId=27613521

    Just as an FYI, they have 41 MKXs on the lot...

    Thoughts?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi 4x4. Ford is providing incentives on the Lincoln MKX in June.

    As far as how much you have to put down on a lease goes, consumers can and should put nothing down when leasing. When I say nothing down, I mean no capitalized cost reduction. Even on a zero down lease, lessees still have to pay their vehicle's first month's payment, security deposit, acquisition fee, and any other required fees at signing (unless they roll some of these charges into their car or truck's capitalized cost).

    Let's work up a sample lease payment on the truck that you are interested in and see what we come up with. According to my calculations, if you were to lease a fairly loaded 2009 Lincoln MKX FWD that has an MSRP of $45,575 and a selling price of $39,901 ($500 over dealer invoice minus the $2,100 bonus cash that is available right now) through Ford Credit right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $596.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jcurtistx. $500 under dealer invoice and the deduction of the available $2,100 bonus cash is an excellent price on a 2009 Lincoln MKX.

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

    Check out the articles and let us know if you have any specific questions.

    Car_man
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  • stunts1stunts1 Member Posts: 3
    On 7/7/09 I signed a contract to lease a new 2009 Lincoln MKX. I live in N.Y. (I also brought the car home that day) (The rebates totaled $2850.00 ) Two days later (7/9/09) I got a call from the dealer saying that Ford will not reimburse him on one of the $750 rebates because I leased a Lincoln and not a Ford. He is saying that I have to come down to the dealer and sign a new contract and that my monthly payment would have to go up. Do I have to go and sign a new contract since I have already signed the contract, all of the other paper work and have had the car for 2 days?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi stunts1. If Ford did not accept your contract you probably will have to sign a new one in order to keep your MKX. If I was in your situation I would put up one heck of a fight to make sure that my monthly payment didn't increase. From my perspective, the dealer made a mistake and they should eat the difference in order to keep your payment the same. If they won't do that, then tell them that you will give the truck back and that you want the money that you paid at signing refunded. There's no guarantee that this will work, but it's worth a shot. Good luck, and let us know how everything turns out.

    Car_man
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  • ajoagajoag Member Posts: 4
    Car_man,
    What is the residual and current lease rates for 2010 MKX? Also, are there any thing changed for August 2009? I believe, last promotions and incentives ended Aug 3, 09.

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ajoag. Lincoln's incentives on the 2010 MKX are basically the same in August as they were in July. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2010 MKX AWD with 15,000 miles per year are 2.75% and 48%, respectively.

    When negotiating on this truck, which I was pleasantly surprised with when I had an opportunity to spend some time with one, make sure to take advantage of the $1,000 bonus cash that Ford is currently providing on it.

    Car_man
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  • ajoagajoag Member Posts: 4
    Thanks car_man. A dealer in my area is offering lease rate of 3.0% and 48% residual for 36 months/10500 miles per year. He says is lease program has changed this month. Wonder if that is true?
  • gstzmangstzman Member Posts: 1
    Hi there!
    MSRP $45,180
    Discount $3,347
    Rebate $1,500
    Sale Price $40,333
    Demo with 3,983 miles on it.
    Want to do a 39 mo lease with 0 down.
    Sounds like 2.75% and 43% are about right on lease rate and residual.
    I don't think this would be a very good deal on a brand new car.
    I think he should get down to $36,000 for a sale price.
    Should I ask for more than that since it's a demo and an '09?
    Thanks much!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, ajoag. I'm pretty sure that the numbers that I provided you with is the correct program for August.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gstzman. The truck that you are interested in has a spread of around $4,000 between its full MSRP and its dealer invoice price. The $3,347 dealer discount that you were quoted puts you at around $650 over invoice, that's a pretty good deal on a normal MKX.

    The problem is that this is a demo model. The problem that I have with demos is that I usually find that dealers are not willing to provide a substantial enough additional discount for me personally to justify purchasing what essentially is a low mileage used vehicle over an otherwise identical brand new one. I personally would want at least another $2,000 knocked off of this vehicle's price to go for a demo with 4,000 miles on it. At the very least, you should get the dealer to knock another $1,000 off of the $650 over invoice price because this is a demo.

    Car_man
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  • jayriderjayrider Member Posts: 3,602
    As an older gent, would add a suggestion to negotiation re the dealer mistake. Make sure it was a mistake. Be very controlled and respectful in communications. Tell them that you love the car and this 750 error is making a good thing feel bad. You can't increase your payments and would like to know what they feel would be a fair resolution. Don't throw out the "take this car back card yet" Listen to what they have to say--take notes. Don't accept or reject --- ask to talk with the owner. I'm sure the f&I guy would be pleased to have you discuss his mistake with the boss. Be nice -- you won't give them an excuse to label you as an a-hole. If they ask you what you want make sure you know what they offered. Of course, you want a total pass on the 750. Hope you get it. If you split the difference, I would ask for 4 years of maintenence [oil/rotations/filters] at least for your 325.. Maybe car-man can add a way to offset the 325. Of course I would wait until after I had a respectful discussion with the owner before I'd give a dollar. These guys are used to screamers in the complaint process. You have much more control if you stay firm, rational, and reasonable.
  • finsrightfinsright Member Posts: 3
    Need quick advice. Have Lease quote for $599.99 per month, no money down, residual 51%, Lease rate 2.5%. MSRP is 42,230, basically doesn't have Navigation, Pan Roof, heated rear seats......$2500 rebate.....I need to know quickly, is this good deal or can he do better?
  • kyfdxkyfdx Moderator Posts: 236,760
    Car_man is the leasing expert, and I'm sure he'll be along soon..

    But, one way to judge a leasing deal... is to know the selling price they are using to calculate the lease.. You'll have to ask them for that number. The last Ford-related lease paperwork that I saw was pretty specific about all aspects of the deal, so this info shouldn't be hard to get.

    You'll also need to specify length of term..... and, if that number includes taxes... and, how much you'll have to pay at lease signing for your "no money down" deal..

    regards,
    kyfdx

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi finsright. The lease rate that you were quoted to lease the MKX that you're interested in looks great. How good a deal this is depends upon what selling price you are being charged for the truck that you're interested in. the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is important for consumers to find out exactly how much they are being charged for the vehicle that they want before agreeing to lease it.

    One could back into an approximate selling price using the numbers that you provided in your post, but it's better to hear it straight from the horse's mouth. Let us know how much you are being charged for this MKX and I'm sure that either myself or another community member will gladly let you know what they think.

    Car_man
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  • dollar_pounddollar_pound Member Posts: 46
    Hi I am looking to lease MKT or Merc R/GL class, cant make up my mind yet. MKT seems better value. Can you post the lease rates for MKT, I do see any forum for it so assuming the interest is less. Any help would be great...thanks as always car_man!
  • dollar_pounddollar_pound Member Posts: 46
    Its down to the GL now. The MKT has cramped third row and you can barely fit anyone above 5ft!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, dollar_pound. Through January 11th, Ford Credit's base lease rate and residual value for a 36 month lease of a 2010 Lincoln MKT 2WD with 15,000 miles per year are 5.5% and 48%, respectively.

    This car's lease program varies by term and mileage allowance. You never mentioned what either of these variables are so I had to make some assumptions. Let me know if you want something different.

    Car_man
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  • mandkolemandkole Member Posts: 3
    Carman--
    Our 24mo, 15k/yr lease ends on our fully loaded spec edition unit; nav, panaroof, 2tone interior, 27k miles, etc. The residual is $27K. We talked about buying the car, but with the market decline since lease start, don't really know if it makes sense. I've seen nada values in the $29-31K range. I've talked with a local dealer who requested that I complete inspection and let them see what they can buy it for, with the thought that they sell it back (for a few bucks profit of course). If this gets me into the car for less than residual it may make sense, but don't want to waste my time.

    thanks--
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mandkole. There's no reason to pay the full end-of-term purchase option price for your leased MKX if you don't have to. The first thing that I would do if I was in your situation would be to place a call directly to Ford Credit to see if they would be willing to negotiate your vehicle's purchase price. If your initial contact there isn't willing to do anything for you, try working your way up the ladder to a manager to see if you have any better luck. Chances are that they will not be willing to do anything for you, more often than not banks won't, but you don't have anything to lose by trying.

    If that doesn't work, see if the dealer can purchase your MKX at a discount and then flip it to you for a small profit.

    Car_man
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  • bbutashbbutash Member Posts: 6
    Can you please post October rates for 2011 MKX for 12k miles?

    Thanks
  • jpres11jpres11 Member Posts: 3
    Carman-

    Hello, hope all is well. I am also looking for October rates for 2011 15K miles on a MKX.. Take care.
  • harmonysrqharmonysrq Member Posts: 4
    I am a newbie and need your expertise. I am 2 payments away from the end of my 39 month FORD lease on my 2007 base Red MKX (great car). My payments are $403 month (including tax), for 10,500 miles/year - odometer at 26,500 now. I put down $595 out of pocket at signing, I'm looking at the lease and see amount due at signing says $3693 so that must have been dealer rebates, cost of vehicle says. $33,302. My question is: can i get into a 2010/2011 MKX for same monthly payment? (I cannot afford cash out of pocket or a higher monthly payment). Is my trade in worth anything to the dealer? the end of lease purchase price says $17,186 plus fee/taxes of $1499 = $18,686. When I search for comps they are selling anywhere $20,000 - $25,000 and Carmax gave me quote $20,000. I love the car but really want a new one. What should I do? Let me know if you need any other numbers? How much bargaining power do I have with dealer? All my maintenance was on time thru Lincoln dealer">
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, bbutash. Unfortunately, this truck's lease program varies by region. Its lease rates are anywhere from 2% to 4.5%. I would be happy to give you an idea of what its exact program is like on your area if you tell me what state you are in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks jpres11. I'd be happy to help you out. Unfortunately, this truck's lease program varies by region. Its lease rates are anywhere from 2% to 4.5%. I would be happy to give you an idea of what its exact program is like on your area if you tell me what state you are in.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    That is an excellent question, harmonysrq. At first glance, I'd say that you are going to have a tough time matching the excellent deal that you got on your current MKX. I can crunch some numbers for you to see what a new one would cost, but I need you to provide me with the full MSRP and approximate selling price of the new MKX that you want along with what state you are in. Let me know what these variables are and I'll work up a payment for you.

    Car_man
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  • harmonysrqharmonysrq Member Posts: 4
    hi carman,
    finally the new 2011 MKX are out and I saw some at Ed Howard Lincoln in Sarasota, Florida. After talking to salesman and seeing how much the standard price has gone up in 3 years on base model $39,145 I don't think we can make it work. I don't think My 2007 MKX which now has 27,125 miles on it is worth anything to them (they said it would go to auction) even though my purchase price is $17,186 and I only have one more $403 payment, they couldn't get me into one under $400 without any money down. Should I go to CARMAX and see what my car appraises for again? It's been 5 months and 3,000 more miles since their $20,000 appraisal. thanks - so what is the best deal i can expect on new 2011 MKX lease with only $1500 down?
  • capt_doncapt_don Member Posts: 1
    I recently leased a 2011 MKX fully loaded (everything but the rear seat DVD's) for 36mos 12/mi for 460/mo. in N. Jersey. I did put 4K down - 1500 for inception and 2500 down. I believe residual was 28K. The only thing I am disappointed in so far are the "Chrome" clad wheels and no power folding sideview mirrors. Everything else is fantastic. I went to several dealerships and found prices varied as much as 150 dollars a month so there seems to be some negotiability, but I think in the end, I got a good price. This is my first time leasing.
  • njbmwpanjbmwpa Member Posts: 5
    Car_Man

    Can you perhaps work up a lease figure for me? I am looking to lease a 2011 MKX AWD before month end. One question - my current lease ends in January 2011 - what are your thoughts about holding out on leasing in 2010 and waiting until 2011? I figure I might be safer doing a lease now versus later due to residuals.

    Here is what was worked up @ the dealer.
    MSRP - $50,235
    Negotiated Price - $46,919
    Term - 39 months - was told they would do 39 versus 36 since it would be cheaper
    Residual - 56%
    MF - 3.75%

    NO CAP COST REDUCTION please... & state of residency is NJ.

    Secondly I also have a Costco membership so can go through Costco - but they are kind of a pain because no dealership will give you a quote over the phone (except BMW) any other dealer wants you to come in... And I also qualify for X plan pricing which currently shows $1,833 off of the sticker, and all additional $1,000 incentive. Lastly Lincoln has an $ 800 discount off of sticker called "NE Special Edition Discount" whatever that is. I had called Lincoln today and all of the "Lincoln Wish List $1,500 off... is for purchases only - apparently"

    Any help is greatly appreciated!
    :)
    Thank you!
  • njbmwpanjbmwpa Member Posts: 5
    Capt_Don

    How do you like the MKX thus far? Two questions for you... First being, and please excuse the fact that I am clueless on wheels, what does the Chrome Clad wheel look like? Does it actually look like Chrome? I test drove one the other day but it had the Limited Edition Package wheels on it which are polished aluminum. Second question is what dealership did you lease your MKX through?

    Thank you :)
  • prd928prd928 Member Posts: 4
    edited January 2011
    Hi Car man,

    Can you please give me the money factor and residual for a 2011 MKX AWD with 102a spec and limited edition package 39 months in NYC.

    Thanks in advance.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to help you out, prd928.

    Ford Credit's January base lease rate and residual value for a 39 month lease of a 2011 Lincoln MKX AWD in the NYC area with 15,000 miles per year are 2.0% and 52%, respectively.

    When negotiating your lease on this vehicle, make sure to take advantage of the $500 cash incentive that is currently available on leases of it.

    Car_man
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  • prd928prd928 Member Posts: 4
    edited January 2011
    im sorry car man, i should have told you for 12,000 miles per year.
  • tennisfan2011tennisfan2011 Member Posts: 1
    Bought an MXK with Premium Package and Elite Package, wood and floor mats. Paid -100 under invoice BEFORE applying incentives. If you shop around you can get a deal. Ford credit standard lease rates.

    Car is great combination of ride and power. Love it.

    Enjoy the car.
  • nlm83nlm83 Member Posts: 3
    Mind me asking what you paid for the car tennis?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem prd928. Ford Credit's 12,000 mile per year residual values are 2% higher than its 15,000 mile per year resids.

    Car_man
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  • scoobaguyscoobaguy Member Posts: 1
    Hi. I'm hoping someone can help me with the current money factor and residual on a 2011 MKX with 12,000 miles per year. If it matters, I'm in Dallas. Does it vary between a 36 and 39 month lease? Thanks in advance for the help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi scoobaguy. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2011 Lincoln MKX AWD with 12,000 miles per year are 2.75% and 56%, respectively.

    The numbers for an otherwise identical 39 month lease are 3.0% and 54%.

    Car_man
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  • rdxerrdxer Member Posts: 38
    Carman,

    Can you please post lease mf/residual for 2011 MKX -- 36 mos / 39 mos and low miles (10k/yr)?

    Many thanks!
  • dannyhashovavdannyhashovav Member Posts: 24
    Hello all,

    there are currently a good deal on 2011 LINCOLN MKX ($1,500 Cash Back ) is available. My preliminary research on MF and Residual show favorable lease #s. My question is: how likely the dealer would go $1,500 below invoice to sell the car?
    Car_man - can you please get us all an update on MF and Residual for MKX AWD Base 36Mo/12 or 10K. Also do you guys think Lincoln includes destination fees into the lease formula? I got my pilot 2.5 years ago, and they said destination fees never get included (not sure, maybe i was lucky?)
    thanks much,
    great forum - all my frieds are using it.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rdxer. Ford Credit's lease program for this truck varies by region. Its base 36 month lease rates for the 2011 Lincoln MKX are anywhere from 2.0% to 3.75%. If you tell me what state you are in, I should be able to tell you the specific rate that is currently available in you area.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dannyhashovav. I could see a dealer in an area that has a decent level of competition coming close to dealer invoice on a lease of an '11 MKX, but I think that $1,500 under invoice is a little optimistic.

    Ford Credit's current base lease rates for the Lincoln MKX vary by region. I can give you an idea of what this truck's current rate is in your area if you tell me what state you are in.

    Car_man
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  • dannyhashovavdannyhashovav Member Posts: 24
    Hi Car_man
    Thanks for fast reply

    i am researching NY tristate area (36Mo/10K or 12 K). Also what fees in your opinion should be included/rolled into lease calculations assuming i target $0 down?

    regards,
    Daniel
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome Daniel. Ford Credit's May base lease rate and residual value for a 36 month lease of a base 2011 Lincoln MKX AWD with 12,000 miles per year in its New York region are 2.0% and 55%, respectively.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • phsieh2009phsieh2009 Member Posts: 6
    Hi,

    I am wondering if the following is a good price for the awd version:

    Due at signing 3,400 and monthly payment is 299 ( not including tax) - 24 month lease.

    I am in north new jersey.

    Thanks

    Paul
  • phsieh2009phsieh2009 Member Posts: 6
    Hi, Capt Don,

    Could you please tell me the dealership where you leased the MKX? Thanks!

    Paul
    phsieh2009@gmail.com
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  • joshcs1joshcs1 Member Posts: 9
    edited August 2011
    I am planning to lease a 2011 Lincoln MKX around Christmas this year. I'm pretty sure Lincoln will do their annual Winter Sales Event around then. I know I could get a 2012, but I might get a better deal seeing as the two models years do not differ too much and dealers will be trying to reduce 2011 inventory. I wanted to know if anybody got a good lease rate for the event last year. Also has anybody gotten a 24 month lease. I've seen these lease offers on the Lincoln website, but I was unsure how often people get them. What are the pros and cons to 24 months VS 36 or 39 months other than pricing?
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