- #21 of 169
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MKX lease rates
by txlablover
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Mar 26, 2007 (2:23 pm)
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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.
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- #22 of 169
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Re: How much above invoice? [bfeldstein1]
by Car_man HOST
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Apr 18, 2007 (1:37 am)
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Replying to: bfeldstein1 (Mar 18, 2007 6:04 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
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- #23 of 169
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Re: MKX Lease Offer [lasher30]
by Car_man HOST
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Apr 18, 2007 (1:41 am)
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Replying to: lasher30 (Mar 19, 2007 1:55 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
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- #24 of 169
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Re: MKX lease rates [txlablover]
by Car_man HOST
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Apr 18, 2007 (1:44 am)
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Replying to: txlablover (Mar 26, 2007 2:23 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
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- #25 of 169
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The month of May lease rates
by magoo99
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May 01, 2007 (6:20 pm)
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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.
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- #26 of 169
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Decent deal?
by dylcon
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May 10, 2007 (6:52 am)
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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.
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- #27 of 169
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Re: The month of May lease rates [magoo99]
by Car_man HOST
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May 16, 2007 (2:30 am)
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Replying to: magoo99 (May 01, 2007 6:20 pm)
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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- #28 of 169
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Re: Decent deal? [dylcon]
by Car_man HOST
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May 16, 2007 (2:32 am)
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Replying to: dylcon (May 10, 2007 6:52 am)
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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- #29 of 169
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Re: The month of May lease rates [Car_man]
by dylcon
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May 16, 2007 (10:19 am)
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Replying to: Car_man (May 16, 2007 2:30 am)
Car man,
What is the residual on a 36 month lease with 10,500 miles/yr...53% or 54%?
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- #30 of 169
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Is dealership trying to screw me?
by dylcon
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May 17, 2007 (12:56 pm)
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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)?
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