- #72 of 139
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Re: MKX new lease program [07mkx]
by hardhawk
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Sep 10, 2007 (2:47 pm)
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Replying to: 07mkx (Sep 10, 2007 11:47 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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- #73 of 139
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don't know what to do
by perplexed5
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Sep 30, 2007 (9:38 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
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- #74 of 139
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Is this a good leasing offer
by coco7322
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Oct 13, 2007 (6:12 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
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- #75 of 139
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Re: Leasing in NJ [tadboys]
by coco7322
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Oct 13, 2007 (6:15 am)
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Replying to: tadboys (Jul 09, 2007 11:31 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
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- #76 of 139
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Re: Leasing in NJ [tadboys]
by dunepearl
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Oct 14, 2007 (5:15 pm)
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Replying to: tadboys (Jul 09, 2007 1:18 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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- #77 of 139
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Re: don't know what to do [perplexed5]
by Car_man HOST
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Oct 15, 2007 (2:45 am)
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Replying to: perplexed5 (Sep 30, 2007 9:38 am)
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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- #78 of 139
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Re: Is this a good leasing offer [coco7322]
by Car_man HOST
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Oct 15, 2007 (2:55 am)
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Replying to: coco7322 (Oct 13, 2007 6:12 am)
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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- #79 of 139
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Re: Leasing in NJ [dunepearl]
by Car_man HOST
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Oct 15, 2007 (3:00 am)
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Replying to: dunepearl (Oct 14, 2007 5:15 pm)
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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- #80 of 139
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Re: Is this a good leasing offer [Car_man]
by coco7322
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Oct 15, 2007 (5:30 am)
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Replying to: Car_man (Oct 15, 2007 2:55 am)
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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- #81 of 139
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Re: Leasing in NJ [Car_man]
by dunepearl
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Oct 15, 2007 (5:56 am)
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Replying to: Car_man (Oct 15, 2007 3:00 am)
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? 
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