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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

Outline

Messages Page 9 of 18: 1; ...; 6; 7; 8; 9; 10; 11; 12; ...; 18; Prev; Next; Last

#77 of 169 Re: don't know what to do [perplexed5] by Car_man HOST Oct 15, 2007 (1:45 am)
Replying to: perplexed5 (Sep 30, 2007 8:38 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 Host Prices Paid: Buying & Leasing Experiences Forum
#78 of 169 Re: Is this a good leasing offer [coco7322] by Car_man HOST Oct 15, 2007 (1:55 am)
Replying to: coco7322 (Oct 13, 2007 5:12 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 Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: coco7322 (Oct 15, 2007 4:30 am) Car_man (Oct 24, 2007 2:12 am)
#79 of 169 Re: Leasing in NJ [dunepearl] by Car_man HOST Oct 15, 2007 (2:00 am)
Replying to: dunepearl (Oct 14, 2007 4:15 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 Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: dunepearl (Oct 15, 2007 4:56 am) coco7322 (Oct 15, 2007 12:43 pm) dunepearl (Oct 17, 2007 4:57 am) and 2 more...
#80 of 169 Re: Is this a good leasing offer [Car_man] by coco7322 Oct 15, 2007 (4:30 am)
Replying to: Car_man (Oct 15, 2007 1:55 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? Replies to this message: Car_man (Oct 24, 2007 2:12 am)
#81 of 169 Re: Leasing in NJ [Car_man] by dunepearl Oct 15, 2007 (4:56 am)
Replying to: Car_man (Oct 15, 2007 2:00 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? Replies to this message: coco7322 (Oct 15, 2007 12:43 pm) dunepearl (Oct 17, 2007 4:57 am) Car_man (Oct 24, 2007 2:14 am) askal (Oct 25, 2007 3:13 am)
#82 of 169 Re: Leasing in NJ [dunepearl] by coco7322 Oct 15, 2007 (12:43 pm)
Replying to: dunepearl (Oct 15, 2007 4:56 am) Hey! The ad is for MKX without any options at all. We went to the dealership to ask about the same ad and that is what they told us. It does not include anything extra except leather seats. Replies to this message: dunepearl (Oct 17, 2007 4:57 am) Car_man (Oct 24, 2007 2:14 am) askal (Oct 25, 2007 3:13 am)
#83 of 169 Re: Leasing in NJ [coco7322] by dunepearl Oct 17, 2007 (4:57 am)
Replying to: coco7322 (Oct 15, 2007 12:43 pm) Here's my final deal that was signed yesterday. MSRP was $38,880 - with $1000 total out of pocket the payment will come to 422.50 per month. Replies to this message: Car_man (Oct 24, 2007 2:14 am) askal (Oct 25, 2007 3:13 am)
#84 of 169 Re: '07 or '08 MDX for under $400? by allisonh Oct 21, 2007 (6:29 pm)
Replying to: homelucy (Aug 13, 2007 11:26 am) Hi Mr carman, I live in Sarasota, Florida I just put a $500 deposit on a gorgeous Red with Light wood and leather camel interior MKX on the showroom floor with 10 miles on it., Using the current 39 month lease promotion. The dealer is giving me the $2750 cashback rebate on $32,707 price for a base MKX (no elite, no ultimate). I really wanted the sunroof but was told I couldn't get it without the elite, so I'm putting $1000 down OTD (which includes the $500 dep and my first month payment) my payments will be $403.10 per month including tax for 10,000 miles year, Money factor 1.75% with 48% residual Is this a decent deal? Should I wait for the 2008 to come out and hope to make the same deal. Or am I dreaming? The only 2 lincoln dealers in my area seem to be running low on them and said they won't be getting any more in. I would love to upgrade to elite or ultimate, but really was determined to keep my payments under $400. Is this possible? I currently lease a 2002 Highlander Limited through end of December because I made my last payment (I am having it inspected tomorrow). I loved it for the past 5 years, now end of lease Purchase price is $12,116 and it is in EXCELLENT condition with 62,100 miles. I'm allowed 66,000. None of the dealers seeem to want it, but they think it looks greatI don't want to pay for 2 cars in November but the dealer wants me to take possession in October or said i could lose the deal and he pretty much told me He wouldn't be able to match this deal???? I would love to hear some advice from you! Replies to this message: Car_man (Oct 24, 2007 2:21 am)
#85 of 169 MKX MSRP vs Invoice by allisonh Oct 23, 2007 (11:04 am)
Re my post above: The total MSRP on 2007 MKX sticker says $35,285. Dealer said lease price for me is $32,707. I thought i was getting $2750 in Rebates off sticker in rebates, but it looks like he's giving me $2578 off MSRP??? Lease is 1000 down OTD, $403.10 month for 39 month with 10,000 miles. Money factor 1.75% with 48% residual. How do i find out INVOICE and if this is a good deal. i was planning on closing the deal this weekend, but would like to hear from an expert first! thanks Replies to this message: dunepearl (Oct 23, 2007 1:34 pm)
#86 of 169 Re: MKX MSRP vs Invoice [allisonh] by dunepearl Oct 23, 2007 (1:34 pm)
Replying to: allisonh (Oct 23, 2007 11:04 am) Here's some simple math. The factory deal is $359 for MSRP of a stripped MKX at approx $34125. Your MSRP is approx $1000 higher. 52% of that is $520.00. Divide that by 39 equals $13.33 per month. Providing your out of pocket to start is $1995, do not pay more than $372 per month plus tax. BTW, the allowed miles should be 10,500 per year not 10,000. Go to another dealer if they say no.

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