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Lincoln MKX Lease Questions

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    tadboystadboys Member Posts: 6
    Can someone please tell me if this is a good deal?
    36 mos. lease with 13,500 miles/yr. allowance, cash due of $1,200 and trade-in of $16,000 on a Lincoln MKX AWD ultimate demo model with 5,500 miles:
    List Price 40,725
    less Cust. Disc. 3,245
    Selling price 37,480
    less Trade-in Value 16,000
    Trade Diff. 21,480
    + Sales Tax 1,511
    + Doc. Fee 197
    + Motor Vehicle Fees 351
    Sub-total 23,536
    less Lien Payoff 16,000
    Sub-total 39,539
    less MFG Rebate 3,000
    Total Purchase Price 36,539

    Summary Lease Numbers:
    36 mos. at $475.87 a month with residual value of $20,362.50

    Thanks, in advance. :)
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    prairiecritterprairiecritter Member Posts: 2
    I'm not qualified to answer your question, tadboys, but I had a question about where you came up with $3,000 MFG rebate. I just re-checked their website, and am only seeing $1,000 RCL rebate. Are there others (regional?) that I'm not aware of? Thanks!
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    tadboystadboys Member Posts: 6
    The number was given to me by the dealer. Yah, I went to the showroom expecting the $1,250 RCL cash offer...

    Anyway, I don't know if including the trade-in value of my current lease is better, or if I should just take the early termination discount (up to 3 last payments) and consider a brand new lease of a Lincoln.
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    aephemeaepheme Member Posts: 48
    Heard back from a Ford/Lincoln/Mercury dealer today:

    MKX AWD 24mos/12k lease
    $1750 rebate
    APR of 0.25%
    Residual of 61%
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    timothy2001timothy2001 Member Posts: 1
    Looking for the rates and residuals for the new lease programs that came out yesterday. I someone can post them for 36, 39 and 48 months.

    Thanks very much.
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    ka2ka2 Member Posts: 11
    HI We are looking to buy the MKX liked it but were bothered by the road noise- I was wondering if the OEM tires you mention cut down on that at all? The one we tried had Michelans. If anyone knows of quieter tires that don't make you feel every road bump could you share your experience -thanks
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome prairiecritter. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX AWD with 12,000 miles per year are 1.5% and 51%, respectively. The lease rate for a lease with only 10,500 miles per year would be the same, but the residual value would be 1% higher.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, hardhawk. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX AWD with 12,000 miles per year are 1.5% and 51%, respectively. The numbers for an otherwise identical 39 month lease are 1.75% and 49%. The lease rates for the FWD version of this vehicle are the same, but its residual values are 1% lower.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tadboys. The vehicle that you described probably has a spread of just under $3,500 between its full MSRP and its dealer invoice price. The $3,245 discount that you are being given on it looks good to me. I'm not sure where the $3,000 rebate that you mentioned came from though. Lincoln is currently only providing $1,250 - $1,500 lease cash on this model. It does have some dealer cash out there, but I don't think that the total amounts to $3,000.

    You never mentioned the lease rate that is being used to calculate your payment, but make sure that the dealer you are working with uses Ford Credit's current base rate of 1.5%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, timothy2001. Ford Credit's current base lease rate and residual value for a 36 month lease of a 2007 Lincoln MKX AWD with 15,000 miles per year are 1.5% and 49%, respectively. The numbers for an otherwise identical 39 month lease ate 1.75% and 47%, respectively. Lastly, the numbers for an otherwise identical 48 month lease are 4.5% and 40%. When negotiating your lease on this vehicle, make sure to take advantage of the $1,250 to $1,500 lease cash (the exact amount varies by region) that is currently available on it.

    Car_man
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    homelucyhomelucy Member Posts: 9
    I'm interested in the MDX with Ultimate and Elite packages and am trying to figure out what people are paying for the car. According to my NNJ dealer, a 39 month quote is the best. He is in the process of getting back to me but I would like to know current lease rates and residuals on the car and where I can find a calculator to help me understand what I SHOULD be paying for lease payments. Thanks for any help!!!
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    homelucyhomelucy Member Posts: 9
    I'm interested in the MKX...not the MDX! All this car lingo gets crazy in my head! :confuse:
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    tadboystadboys Member Posts: 6
    I recently got a 39-month lease on a 2007 MKX AWD with the Ultimate package (and power liftgate), navigation system, Sirius radio, etc. with an MSRP of $40,725. I did not get the Elite package because I was not interested in the vista roof - as is, the car I got was pretty loaded. With 10.5K annual mileage allowance and cash-out of $1,200, my monthly payment is $450.00

    I leased the MKX from Flemington Ford Lincoln and appreciated how well they attended to me that I gave them the following review:

    http://www.edmunds.com/dealerships/NewJersey/Flemington/FlemingtonFordLincolnMer- curyNissan/fullsales.4301.newOld.html

    Regardless, you should still continue to do your homework and negotiate the best deal you can, especially if you choose a 2007 model. The 2008 version is coming soon and dealerships will want to make room for them by clearing out this year's model.

    Good luck!
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    homelucyhomelucy Member Posts: 9
    With the information that you just provided, what is a better deal? The 36 or 39 month lease? Also, I am a high mileage driver that has resitricted inome but the need for a high end vehicle for my work. In the future, my income will increase. Would you suggest taking a lease today with 10K miles per year and just buying the car at the end of the lease if it's reasonable? The residual on a fully loaded MKX looks like it would be around $19,000 after 3 years.
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    homelucyhomelucy Member Posts: 9
    What dealership did you go to?
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    tadboystadboys Member Posts: 6
    I believe that a few years ago, part of the differentiation between a 36 and a 39 month lease was the warranty. The reasoning was that if your coverage was for 3 years, avoid the 39 month lease; else, you have to cover the 3-month gap. The MKX provides a 4 year warranty, so this reasoning becomes moot. There were other distinctions but for me, it really was a matter of $25 between the two plans.

    If you're leaning towards a 10K mileage plan with a residual of 51% (39 months) or 52% (36 months) and then buying the car at the end of the lease, you really should negotiate the best deal you can (i.e., with the lowest selling price as the starting point).
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi homelucy. If I was in the market for an MKX right now, I personally would probably go with a 39 month lease. I definitely would not skimp on the mileage allowance for a lease. You are going to owe a huge excess mileage penalty if you knowing lease with only 10,000 miles per year if you need 15,000. You can never say for certain that you are going to purchase your leased vehicle at lease-end. For example, it doesn't make sense to purchase a leased vehicle that has been in an accident. Or you could just plain decide that you don't like the MKX or want to drive something different.

    Car_man
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    07mkx07mkx Member Posts: 7
    Greetings, I need an explanation of Leasing for my small brain. What I know about leasing is that it's for people who can't afford a car, but you lease (rent) it. It's for people who want something that would normally be beyond their reach. It's also for people who constantly want to make a monthly car payment.

    So now why would I want to rent? For what reason would I make payments of say $380/mo for 39 months, plus 2G down = $16800 then at the end of the lease turn right around and go to the bank and get a used car loan, and make what? 4 yrs payment of the same amount. @7% for a total of 7+ years?

    Was this just another way for the manufacturer to get people into a vehicle? I follow the school that there is no free lunch. I've seen people talk about the great lease they got, then 3 years later really upset, and regretting what they knew at the beginning, The trade-in made the first vehicle payments so low, but the second one had no trade.

    I have no idea where this credit fallout will land, but I'm sure it will trickle down to all auto manufacturers, and credit will dry up, to the point that you need a good rating and people will purchase what they can afford.

    Oct/Nov. 2001 saw no interest loans, 6 years later look what has happened. Same with employee pricing for everyone, Leasing has to come next now. Grandpa did it properly, save until you can pay cash. I did it with my first Lincoln. Yes stupid I know, just like I was to pay off my house and pay the balance on credit cards and still save for retirement. I also know a vehicle loses money, but I didn't buy the Lincoln because i HAD to, I bought it because I wanted it. And now it sits in the garage for me to admire and buff. I'm too old school to accept why someone would get a lease for the reason's I mentioned. And by rights's I have 13 more years to go to normal retirement age.
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    hardhawkhardhawk Member Posts: 702
    If you are going to keep the vehicle until it dies I totally agree with your thoughts. I have paid cash for a number of long term vehicles and there is no doubt that is the cheapest way to go. However, there are reasons to lease. One, if you want a new car every 3 years, for whatever reason, leasing is a way to do so and fix your exposure to depreciation (some cars depreciate way faster than others and on new models that issue is always a gamble). Two, you always have warranty. Three, there are deals to be had on leases on the right car at the right time that make them financially attractive. Four, in certain business situations, leasing can offer some tax advantages. Five, since you are only paying for the amount of use you have with the car, that frees up capital for other investments that will actually give you a return on your money while if you got a deal or subsidised lease you are not paying much in interest on the lease itself. Some of the leases out there now are at or near zero percent interest. As the economy continues to tank, there will be more deals pop up. The car companies want to sell cars and will do what they have to in order to move the metal. For you, leasing makes no sense. For many, it makes a lot of sense.
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    perplexed5perplexed5 Member Posts: 1
    going to car dealer to lease a fully loaded lincoln mkx, question car dealser says 2.9 interest rate..i thought i could get a 0% interest rate like i was buying the car, plus 2000 cash back off invoice price yes/no..thanks for the help
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    coco7322coco7322 Member Posts: 7
    I recently visited the Lincoln Mercury in Atlanta. The deal that they offered us for a 2007 was 1995 down and 450 a month. This included the Ultimate package (powerlift), Sirius and drop down dvd. WE have a leased 2004 LExus Rx330 that has 8 payments left, but are looking to trade it in. THey are willing to take the Lexus. Can anybody tell me if this is a good deal for the MKX. WE were thinking of offering 1000 down and 425 a month. I am comparing this offer to offers that we got from Lexus and Volvo. THe msrp on this car is a lot cheaper than than the LExus and Volvo, so I think that we shoudl get a better deal for the MKX.. Can anybody let me know what they think about this offer. Thanks
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    coco7322coco7322 Member Posts: 7
    Hey, tadboys can you read my message and tell me what you think of the deal that they are given me here in Atlanta. I think you got a good deal over there. Let me know what you think. thanks
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    dunepearldunepearl Member Posts: 13
    Looking to get in on the October special 39 months. What is the residual and money factor? What rebate should I expect? Is there any "trunk" money being given to the dealer? What Cap Cost should I expect for a FWD with ultimate, roof, and Sirius? Many thanks for your help.

    :)
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi perplexed5. Manufacturers' lease rates are different than their interest rates for conventional loans. Even though Lincoln is currently offering 0% financing for 36 months on regular loans, its special lease rate for 36 month leases is 1.75%.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi coco7322. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    If you are set on getting out of your Lexus lease now to lease a new Lincoln, the best way to get a good deal is to negotiate the selling price of the MKX that you are interested in before having the dealer calculate your lease payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is difficult to tell how good a deal you are getting on your new vehicle without knowing what selling price you are being charged. Once you arrive at a selling price that you are comfortable with, have the dealer calculate your monthly payment using its base lease rate.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, dunepearl. Ford Credit's current base lease rate and residual value for a 39 month lease of a 2007 Lincoln MKX Ultimate FWD with 15,000 miles per year are 1.75% and 49%, respectively. As you can see, Ford Credit uses lease rates instead of money factors to calculate vehicles' monthly payments. 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 use the $2,000 lease cash that is currently available on it to get an attractive capitalized cost. I don't believe that Lincoln is currently providing any dealer cash on this model.

    Car_man
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    coco7322coco7322 Member Posts: 7
    Hey, Carman thanks for the response. The two dealerships that I have been to have told me that they would buy out the car. I have a payoff amount and the dealer has a payoff amt. Since, the bak believes that the Lexus pretty much keeps its fair market value, the cars payoff is pretty much the same as its value. The Lincoln dealership told me that it would be like a trade in which will be even with the Lexus. Now they told me for the Lincoln that I am looking it is has an msrp of 39,275, but after applying all the rebates it would be 33,350. Now, with those number do you think that their offer is good. They want me to put down 1995 and 450 a month for 39 month. I think that 1995 is a lot, since I did not put any thing down on the Lexus. Can you tell me if that is a good deal? I plan to counteroffer with 1000 down and 425 a month. What do you think?
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    dunepearldunepearl Member Posts: 13
    Thanks Car_man, but now I'm confused. The Lincoln website and ads are offering a MKX 39 month lease with $1999 due at signing after cash back of $2750 for only $359 per month. Using the factors you gave how is this possible? :confuse:
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    coco7322coco7322 Member Posts: 7
    Hey! The ad is for MKX without any options at all. We went to the dealership to ask about the same ad and that is what they told us. It does not include anything extra except leather seats.
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    dunepearldunepearl Member Posts: 13
    Here's my final deal that was signed yesterday. MSRP was $38,880 - with $1000 total out of pocket the payment will come to 422.50 per month. :-) :)
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    allisonhallisonh Member Posts: 8
    Hi Mr carman, I live in Sarasota, Florida
    I just put a $500 deposit on a gorgeous Red with Light wood and leather camel interior MKX on the showroom floor with 10 miles on it., Using the current 39 month lease promotion. The dealer is giving me the $2750 cashback rebate on $32,707 price for a base MKX (no elite, no ultimate). I really wanted the sunroof but was told I couldn't get it without the elite, so I'm putting $1000 down OTD (which includes the $500 dep and my first month payment) my payments will be $403.10 per month including tax for 10,000 miles year, Money factor 1.75% with 48% residual Is this a decent deal? Should I wait for the 2008 to come out and hope to make the same deal. Or am I dreaming? The only 2 lincoln dealers in my area seem to be running low on them and said they won't be getting any more in. I would love to upgrade to elite or ultimate, but really was determined to keep my payments under $400. Is this possible? I currently lease a 2002 Highlander Limited through end of December because I made my last payment (I am having it inspected tomorrow). I loved it for the past 5 years, now end of lease Purchase price is $12,116 and it is in EXCELLENT condition with 62,100 miles. I'm allowed 66,000. None of the dealers seeem to want it, but they think it looks greatI don't want to pay for 2 cars in November but the dealer wants me to take possession in October or said i could lose the deal and he pretty much told me He wouldn't be able to match this deal???? I would love to hear some advice from you!
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    allisonhallisonh Member Posts: 8
    Re my post above: The total MSRP on 2007 MKX sticker says $35,285.
    Dealer said lease price for me is $32,707. I thought i was getting $2750 in Rebates off sticker in rebates, but it looks like he's giving me $2578 off MSRP???
    Lease is 1000 down OTD, $403.10 month for 39 month with 10,000 miles. Money factor 1.75% with 48% residual.
    How do i find out INVOICE and if this is a good deal. i was planning on closing the deal this weekend, but would like to hear from an expert first! thanks :confuse:
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    dunepearldunepearl Member Posts: 13
    Here's some simple math. The factory deal is $359 for MSRP of a stripped MKX at approx $34125. Your MSRP is approx $1000 higher. 52% of that is $520.00. Divide that by 39 equals $13.33 per month. Providing your out of pocket to start is $1995, do not pay more than $372 per month plus tax. BTW, the allowed miles should be 10,500 per year not 10,000. Go to another dealer if they say no.
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    askalaskal Member Posts: 2
    I am looking at leasing a 2008 MKX, sticker price is around 38,xxx with the ultimate package. Been quoted $489 per month with $2297 down. This is for 15,000 miles and a 36 month lease. Does this sound like a good deal?
    I was also quoted for an 2008 Acura RDX w/o the tech package: $2500 down and $459 per month for 15,000 miles, 36 month lease. Any comments would be appreciated. Al...
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, coco7322. You're fortunate that you will be able to get out of your Lexus lease early at no additional cost to you. Let's take a look at the selling price that you were offered on the 2007 Lincoln MKX that you are interested in. The vehicle that you are interested in probably has a spread of a little over $3,000 between its full MSRP and its dealer invoice price. Plus, Lincoln is currently providing a total of $3,000 in cash incentives on the '07 MKX. This gives you a total of $6,000 to play with. That is basically the discount that you are being given, so this looks like a very good deal to me. Just make sure that the dealer you are working with uses Ford Credit's current base lease rate of 1.75% to calculate your monthly payment and you're in business.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new MKX, dunepearl. Enjoy your new ride :shades: .

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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings allisonh. The lease program that you were quoted (interest rate and residual value) is right in line with Ford Credit's current promotion for this model. As far as this vehicle's selling price goes, shoot for $500 or so over dealer invoice minus the $3,000 in cash incentives that are currently available on the 2007 Lincoln MKX. You can look up this vehicle's exact invoice price by visiting the following section of this site: Edmunds.com - New Vehicle Pricing.

    Ford's current lease program for the 2007 Lincoln MKX is scheduled to run through the end of the year, so you aren't risking missing out on any incentives by waiting to get your new vehicle. However, as the dealer said they aren't getting any new '07 models in so the longer you wait to get to get yours the more you risk not being able to find a leftover '07 model that is equipped the way you want it.

    Car_man
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi askal. You really need to find out what this vehicle's selling price is before agreeing to lease it. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If I was in the market for an MKX right now, I personally would shoot for a selling price of around $500 over dealer invoice (you can look it up here New Vehicle Pricing) minus the $1,500 lease cash that is currently available on the '08 MKX.

    Once you have arrived at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Ford Credit's base lease rate. Its base rate for a 36 month lease of an '08 Lincoln MKX is currently 2.75%.

    Car_man
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    askalaskal Member Posts: 2
    Greetings,
    sounds like a great deal. Could you please tell me how long your lease was for and the mileage allowance. Was it an AWD model, 2007 or 2008, ultimate package? Thanks, Askal
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    tommyboy4tommyboy4 Member Posts: 7
    Looking at leasing a 2008 MKX FWD – Ultimate / Mileage is 15,000 / lease term is 36 months. I have been quoted the following:

    MSRP: $37,540
    Base Cap Cost: $35,302.00
    FMC Acquisition Fee: $595
    Cap Cost Reductions: $1,500 (rebate)
    Adjusted Cap Cost: $34,397.00
    Residual Value: $19,145.00
    Money Factor: 4.75%
    Base Payment: $529.08
    Sales Tax @ 5.6%: $29.63
    Total Payment: $558.71

    Seems as though the money factor is way too high. Any advice would be greatly appreciated!
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    makismdmakismd Member Posts: 1
    Here is what I got today
    2008 FWD white chocolate
    36 month, 15,000miles/year
    ultimate package,panoramic sunroof,20inch wheels

    Payment is 522/month
    they are writing me a check for a 3months left of my lease 317/month(chevy malibu)
    My down payment including all fees is 768
    So I am out the door getting 915-768= 183( I walk away with 183 bucks)
    thought this was a decent deal
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    bromanobromano Member Posts: 6
    I purchased a MKX last May. Fairly satisfied but I'd suggest if you are open to options, that you look at the Ford Escape. It's carbon copy of the Lincoln for a lot less money. If you go with the MKX, you should be able to get a fully loaded unit for less around $500/month not including any trades or dwnpymt money. The car is not selling like Lincoln had hoped, most likely because the Excape is cutting deeply into sales. Obviously not a swift move on the part of Lincoln to copy cat a product and then try to sell it for 20% higher than the Ford.

    Operationly, the MKX gets about 20mpg. The A/C seats are cool [no pun intended] but very uncomfortable and the blind spots are something everyone should observe when you test drive the car.
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    ventr4thventr4th Member Posts: 9
    You refer to the Ford Escape -- I think you mean the Ford Edge. The Ford Edge Limited 2008 with power lift gate lease rate for 36 months was $468. The Lincoln MKX without the Power liftgate is quoted as $493/month plus tax. The quote below is from my local lincln dealer for the MKX.

    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 .
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    lakerunner4hlakerunner4h Member Posts: 37
    I'm looking at a 2008 MKS AWD with a sticker of $41,725, and invoice of $38,223. Since IL taxes leasors based on the total purchased value of the vehicle, what would be reasonable 36, 39, & 48 months rates on this vehicle in IL with 15,000 miles per year?
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    bromanobromano Member Posts: 6
    I stand corrected about the Ford. The Edge is the correct model. The 39 mo. MKX lease is about what we were quoted back in June with that residual.
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    ventr4thventr4th Member Posts: 9
    The initial quote I received for a 2008 MKX from the Lincoln dealer in Pompano Beach, FL was only about $40/month higher then the quote I got from the Ford dealer in Ft. Lauderdale for the 2008 Edge Limited with power liftgate. The Ford dealer personnel couldn't figure out how to use the Sync system so I ended up walking out and driving about 20 minutes to the Lincoln dealer. They had a Silver MKX on the lot with chrome wheels so I made an impulse lease with the Ultimate package (power liftgate, etc.) plus $895 for chrome 20 inch wheels.

    Here is the breakdown from the "Red Carpet" lease order form for a 24 month lease with 10.5K annual miles:
    Agreed Value $37023 (after $1500 rebate)
    Lessor Services $499
    Acquisition Fee $595
    Base payment $470.75
    Sales tax $28.25
    Monthly Payment $499

    Down payment of $3772 (I think this is where they got me because we started out with a down payment of $750. I got confused with all the add ons but I wanted the car so bad that I just handed the lease manager my credit card ...not a good idea)
    First payment $499
    Sales tax on down payment $236.35

    DID I PAY TOO MUCH OR DID I GET A GOOD DEAL??????

    I signed all the papers yesterday and went to pick up the car at 4pm today. After two hours the salesman could not get the Sync system to work with my new Motorola Bluetooth Krazer1 so we will try again tomorrow. I did get the Sync system to Sync up with a 40GB laptop external drive with about 8,000 songs. Sirius came with the car but on the way home it only received the Christian Broadcasting Network!

    I called my wife from my cell phone after I left the dealer and magically the call came up over the radio. I guess it takes awhile for the Sync process to work for the first time --- it had to download 250 numbers from my cell.
    Awesome sound system, terrific ride (my wife has a 2007 Cadillac SRX and I love the Lincoln 1000% more then the SRX).

    The Sync system is not for the technologically handicapped but I see its potential and with about another ten hours with someone at the dealership who remembers what they learned during training then I hope it lives up to its potential.
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    des4des4 Member Posts: 1
    I am looking to lease a 2008 MKX that is loaded with everything but the mood light package and no trailer package. Adding tinted windows for driver & passenger side, Cargo cover for the rear and DVD in head rests.We are tradeing in a 2004 Taurus that we still owe $8000.00 on. Every other dealer the top offer on our trade was around $4500.00 and this is the offer from the dealership.

    MSRP is $42,880
    49% Residual
    3.00 % Apr
    1,500 Rebate
    15,000 miles per year
    39 month lease

    679.33 per month, & due at signing

    How does this offer look?
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, tommyboy4. The lease rate that you were quoted does look a little high. According to the latest information that I have seen, Ford Credit's current base lease rate for a 36 month lease of a 2008 Lincoln MKX is only 2.75%. Make sure that the dealer that you get your vehicle from uses this rate to calculate your monthly payment.

    A base 2008 MKX has a spread of around $2,700 between its full MSRP and its dealer invoice price. So the $2,238 dealer discount that you were quoted on the unit that you are interested in looks pretty good to me.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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    CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lakerunner4h. Let's assume that you are able to negotiate a selling price of around $500 over dealer invoice on the MKX that you are interested in. According to my calculations, if you were to lease a 2008 Lincoln MKX AWD that has an MSRP of $41,725 and a selling price of $37,223 ($500 over invoice minus $1,500 lease cash) through Ford Credit right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $499. The payment for an otherwise identical 39 month lease would be $493. The payment for a 48 month lease is worse than both the 36 and 39 month options so you don't want to go that route.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
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    737capt737capt Member Posts: 14
    I was wondering if anyone has the current residuals and money factors for a 36 month, 12,000 miles per year lease?
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