- #63 of 169
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Re: MKX new lease program [timothy2001]
by Car_man HOST
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Aug 01, 2007 (2:13 am)
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Replying to: timothy2001 (Jul 11, 2007 7:56 am)
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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- #64 of 169
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'07 or '08 MDX
by homelucy
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Aug 13, 2007 (11:26 am)
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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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- #65 of 169
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Opps!
by homelucy
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Aug 13, 2007 (11:27 am)
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I'm interested in the MKX...not the MDX! All this car lingo gets crazy in my head! 
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- #66 of 169
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Re: '07 or '08 MDX [homelucy]
by tadboys
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Aug 13, 2007 (12:11 pm)
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Replying to: homelucy (Aug 13, 2007 11:26 am)
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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- #67 of 169
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Re: MKX new lease program [Car_man]
by homelucy
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Aug 14, 2007 (1:56 pm)
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Replying to: Car_man (Aug 01, 2007 2:13 am)
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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- #68 of 169
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Re: Leasing in NJ [tadboys]
by homelucy
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Aug 14, 2007 (2:01 pm)
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Replying to: tadboys (Jul 09, 2007 10:31 am)
What dealership did you go to?
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- #69 of 169
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Re: MKX new lease program [homelucy]
by tadboys
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Aug 15, 2007 (8:34 am)
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Replying to: homelucy (Aug 14, 2007 1:56 pm)
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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- #70 of 169
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Re: MKX new lease program [homelucy]
by Car_man HOST
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Sep 10, 2007 (2:34 am)
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Replying to: homelucy (Aug 14, 2007 1:56 pm)
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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- #71 of 169
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Re: MKX new lease program [Car_man]
by 07mkx
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Sep 10, 2007 (10:47 am)
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Replying to: Car_man (Sep 10, 2007 2:34 am)
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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- #72 of 169
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Re: MKX new lease program [07mkx]
by hardhawk
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Sep 10, 2007 (1:47 pm)
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Replying to: 07mkx (Sep 10, 2007 10:47 am)
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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