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Lincoln MKX Lease Questions

137 messages,  Last post on Jul 08, 2008 at 7:12 PM

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What is this discussion about? Lincoln MKX, Car Leasing, Car Buying, SUV

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#15 of 137 Lease Offer - Ohio by mistereed Feb 19, 2007 (8:01 pm)
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
#16 of 137 what are the fees? by mistereed Feb 23, 2007 (7:50 am)
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 LEV52% Replies to this message: Car_man (Mar 14, 2007 3:25 am)
#17 of 137 Re: A Plan lease question [pablo651] by Car_man HOST Mar 14, 2007 (3:14 am)
Replying to: pablo651 (Feb 11, 2007 12:00 pm) You're very welcome, pablo651. Good luck in your quest for a new vehicle.   Car_man Host Prices Paid Forum
#18 of 137 Re: what are the fees? [mistereed] by Car_man HOST Mar 14, 2007 (3:25 am)
Replying to: mistereed (Feb 23, 2007 7:50 am) 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 Host Prices Paid Forum
#19 of 137 How much above invoice? by bfeldstein1 Mar 18, 2007 (7:04 pm)
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? Replies to this message: Car_man (Apr 18, 2007 2:37 am)
#20 of 137 MKX Lease Offer by lasher30 Mar 19, 2007 (2:55 pm)
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 Replies to this message: Car_man (Apr 18, 2007 2:41 am) makismd (Oct 30, 2007 6:36 pm)
#21 of 137 MKX lease rates by txlablover Mar 26, 2007 (3:23 pm)
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. Replies to this message: Car_man (Apr 18, 2007 2:44 am)
#22 of 137 Re: How much above invoice? [bfeldstein1] by Car_man HOST Apr 18, 2007 (2:37 am)
Replying to: bfeldstein1 (Mar 18, 2007 7:04 pm) 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 Host Prices Paid Forum
#23 of 137 Re: MKX Lease Offer [lasher30] by Car_man HOST Apr 18, 2007 (2:41 am)
Replying to: lasher30 (Mar 19, 2007 2:55 pm) 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 Host Prices Paid Forum
#24 of 137 Re: MKX lease rates [txlablover] by Car_man HOST Apr 18, 2007 (2:44 am)
Replying to: txlablover (Mar 26, 2007 3:23 pm) 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 Host Prices Paid Forum

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