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Lincoln MKX Lease Questions

169 messages,  Last post on Oct 23, 2009 at 2:29 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#67 of 169
Re: MKX new lease program [Car_man] by homelucy
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.
#68 of 169
Re: Leasing in NJ [tadboys] by homelucy
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?
#69 of 169
Re: MKX new lease program [homelucy] by tadboys
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).
#70 of 169
Re: MKX new lease program [homelucy] by Car_man HOST
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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Prices Paid: Buying & Leasing Experiences Forum
#71 of 169
Re: MKX new lease program [Car_man] by 07mkx
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.
#72 of 169
Re: MKX new lease program [07mkx] by hardhawk
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.
#73 of 169
don't know what to do by perplexed5
Sep 30, 2007 (8:38 am)
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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
#74 of 169
Is this a good leasing offer by coco7322
Oct 13, 2007 (5:12 am)
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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
#75 of 169
Re: Leasing in NJ [tadboys] by coco7322
Oct 13, 2007 (5:15 am)
Reply

Replying to: tadboys (Jul 09, 2007 10:31 am)

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
#76 of 169
Re: Leasing in NJ [tadboys] by dunepearl
Oct 14, 2007 (4:15 pm)
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Replying to: tadboys (Jul 09, 2007 12:18 pm)

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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