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Lincoln MKX Lease Questions
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Car_man
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Thanks.
Car_man
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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???)
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
You gotta give those of us who live in places other than Detroit a little slack.
thx
Car_man
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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
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 LEV@52%
Car_man
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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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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
Car_man
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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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Car_man
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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.
Car_man
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Car_man
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What is the residual on a 36 month lease with 10,500 miles/yr...53% or 54%?
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)?
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 !!!!
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.
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:
Good luck.
Here wishing you a good driving experience
you may be able to get a better deal with 24 mo lease; interest rate is .25% currently.
MKX MSRP 43230
36 mo 10.5k/12k
39 mo 10.5k/12k
Any help appreciated - this is for Ohio
I do have it and like the car a lot. But the glare is bad. But one gets use to it. :shades:
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.
Car_man
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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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Car_man
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(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!
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.