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Lease pricing, how much do you pay?

34K views 64 replies 31 participants last post by  WithpainWay 
#1 ·
Hello everyone,

My lease on my current car is up in about a month, and new car shopping is on the way. I hate the dealership, and I hate negotiating prices at dealers..but I love new cars!

I try to find as much information as possible on pricing, etc. before walking into a dealership with regards to lease prices. Usually I have friends or family that has a car similar to what I want.. but the MKC I know nobody with one.

I am either looking at a Jeep (Grand Cherokee) or this MKC. The Jeep lease pricing is a little high for the Jeep I want (leather, heated seats, etc.) so I want to compare the MKC pricing to it.

With the internet and being anonymous, do you care to share your lease details? Price, downpayment, lease term, mileage, vehicle, etc.?


Thanks!
 
#47 ·
Good afternoon--

After vowing that I would let someone else take the depreciation and I would never buy a new car, I just bought a 2017 MKC Select Plus today. There may be better values out there in a small crossover, but having owned a '65 Continental convertible for many years as well as a brief stint with a '57 Mk II and a '59 Mk IV convertible, I have always been partial to the Lincoln marque.

As I've never previously been involved in the process of buying a new car, it is curious that some manufacturers sell for far below the MSRP on the sticker, while others--like Lincoln--do not seem to discount very much at all. I figured I could get a good price now being that the 2018 models are hitting the lots, and we decided upon the Select Plus trim level. (My wife & I do prefer the dark wood trim on the Reserve, but it wasn't worth the extra $3k to us.)

Over the past month we have visited our two local Lincoln dealers and have requested truecar.com "bottom line" prices via email from some of the really big dealers in our state. We finally settled on this Select Plus with the white tri-coat paint at our local dealer after 4 visits there, and we eventually got it for a final price of right around $35k out the door, and the dealer even threw in a cargo mat.

My question is this: Does the price drop much more on the 2017s going into November and even December? This was the last white one on the lot--and the best deal on an apples-to-apples Select Plus anywhere in the state that I could find--but I'm wondering if any other color in this trim package will sell for significantly less a month or two from now just to clear it off the lot. As someone mentioned above: I don't have to fleece the salesman out of his commission, but I'm wondering if I could have saved $2000 by waiting.

May I know your thoughts?
 
#48 ·
I have found that there are a lot of variables in the final price you pay. I observed the pricing and offers on the MKC for about a year before making a deal, and think I got a reasonable one. I might have gotten a better price a few months later but would not have been able to have my MKC equipped the way I wanted it. If you have already made the deal, forget about what else you might have been able to get and enjoy what you've got - you will feel a lot better!
 
#49 ·
When I bought my car in April, 2016 they were offering the MKC premium trim for $279 a month w/ 3k down at ANY Lincoln dealer (it was a national ad special). At the time, they had a promo that included blind spot monitoring and nav for free too! I'm not sure what the latest specials are but your best bet is to call several dealers and get quotes. I ended up paying much more for mine because I traded in another car and rolled the neg equity into the lease. OUCH. On the other hand, I was leasing my other car (Lexus) too and my lease payment ended up being exactly the same for the Lincoln so i figured what the heck. Yes, you read that here correctly, I traded in a Lexus for a Lincoln and I LOVE IT!
 
#51 ·
I pick my 2017 MKC 2.3L AWD white tricolor up on 2/10/18...43,355 MSRP, got it for $35,828 plus title, taxes and tags. 8k off..haggled hard to get that deal...and did I mention I got 0 percent for 72months? yes they wanted to move a left over 2017 but I am happy as a clam...local dealer would not deal...2 others were $1500 different and then a 4th working with Costco pricing quoted so far out of the 2 I was dealing with, he ended up way out in left field. I got the best deal on the car with options I wanted....I have never worked so hard on any deal for a vehicle and I have bought a lot. My advise is shop around and be prepared to drive to get the one you want. I have to drive 2 hours to get it but saved $2500...it was worth it...worked the deal on the internet, emails and phone calls. Happy hunting with the dealers...some will deal...some will not..you have to find the one that will and usually its the dealership that sells a lot and wants to keep that bonus check from Lincoln coming in based on the units they sell.
 
#52 ·
Wait till you arrive to sign the papers before you claim total victory! but good work and a well valued purchase. I am actually quite fond of the 2015-2017 looks and think they were on to something they could have stuck with across the board but.....
 
#53 ·
No I don't work for this CU but i have been a member in the past. Based on this info I'll be a member again in about 30 days. They will buy your loan from someone else for 3% off what you are paying, with the lowest rate they will give is 1.75%. I called and they want you to have held your loan for at least 6 months. I just bought this car last week, I called them and since they would like my business back they said when I get my pmt book they will convert. My 36 month note currently at 3.99% will go to 1.75%. I'll take my son there next week to get his converted on his Focus. I hope someone else can use this info.

https://newhorizonscu.com/promotion/3-auto-refinance-pdf/
 
#54 ·
chiming in on an older thread but I'm happy with our deal. Wife's car stickered for just over $49k, we paid somewhere in the area of $45k (don't have all the paperwork in front of me) and did a 36mo 12k/yr with ZERO down for $496/mo. That's a good deal and vs a buy way better in the long run. I've seen some posts about the debate between buying and leasing and having worked and grown up in my family's dealerships, I'd be happy to cover any questions. Overall, on new cars, leasing tends to work out best for most if they are disciplined in saving money.
 
#57 ·
I'm a little off topic on an old thread but...
my 2 cents: Do your math and then decide.
Example if you buy at $45k and in two years it can be sold for $25k. That is a difference of $20k divided by 24 months equal $833 a month. You also need to calculate in tax paid on full purchase vs. tax for lease purchases. (that math I can't do for you since state to state is different) So that is your line to decide if you solely go by the numbers.

Things to keep in mind:
Negotiate Negotiate Negotiate. Most people don't negotiate their lease.
Don't lease beyond the bumper to bumper warranty. -- the last thing you want to do is put in a few thousand in an unexpected repair two months before trade in.
Try to put Zero down and get GAP insurance. If it gets totaled two months after leasing it. Your hefty down payment is vaporized with the accident.
 
#58 · (Edited)
I bought a new 4Runner Ltd 18 months ago. Paid cash. ONLY had 3500 miles on it so I decided to cash out and sold it.

I was going to buy a used SRX for $20K and bank $16K. After a few days reading the SRX forums and GM's not stepping up to common expensive issues, I decided to put the entire amount from the Toyota in the bank and try for a lease with the tax ($500 max in SC) and first payment down.

I spied a used SRX at a Lincoln dealer but started looking at the 19 Lincolns, I like that it is "understated" and not in your face luxury like Caddy, MB, BMW I also looked at RDX, and NX but their dealerships were 100 miles away. I am also leery of US brands reliability so I was not going to pay a whole lot to drive or own it. I used up about $6000 in equity on the 4Runner so that cost me $428 a month to own.

I started talking 7500-mile lease. Found an MKC Reserve I liked because it had the THX option. But it was listed at $45900 I could not see how I could get a no down sub $400 lease on it.

I wanted a payment under $400 with no down on a $46K sticker. Well They kept pulling rebates out of their asses, Military, Competitor, College and anything else they dug up to make the deal work. I was adamant about not paying a penny over $399.

At the end of the day I got retail for my 4Runner lowering my cost to drive it by selling it myself banking the full amount and acquired a lease payment of $399 x36 for my MKC For all I know about Lincolns, I may Have paid too much....LOL

As an aside, the sales guy I had was extremely knowledgeable about every feature and button. We spent an hour just going over all the option, switches and lamps. Auto parking was cool but I don't think I will need that. Not many salespeople have the inclination to learn the product inside and out. Maybe that's a "Lincoln" thing. I was impressed.

I will be calling back to ask what's with the red LEDs on the dashboard under the windshield
 
#60 ·
I will be calling back to ask what's with the red LEDs on the dashboard under the windshield
It's crash avoidance warning. Mine lights up frequently with turning cars in front of me. Separate note: you might have auto breaking on it.. I think 2019 has it.
 
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#59 · (Edited)
Another advantage of leasing:

If I hit or get hit, by another vehicle or hail storms, I won't eat the bad Carfax and lower trade or sale.

If I get into a serious at-fault accident, the leasing company gets sued as well. They are the owners and have deep pockets, although we still buy a 2 mil umbrella.

I can decide to turn it in and buy another brand or keep it. I still have the vehicle priced at the discounted cap reduced lease price.

Our sales taxes are capped at $500 per vehicle. I'm exempt from the property tax as well. No way would I go through cars if we had % sales tax.

I am far less OCD about leased vehicles than those I paid for.

I would rather pay for only the depreciation with well a ton of options than buy without any options, but then again I don't keep my vehicles over the long term, Three years is a long time for me to hold on to a vehicle.

Leasing may not be financially better than buying used and paying it off. But if one has the income, the lease payment is not felt much. We paid off our home in 15 years so the leases are our only payments. Everything else is cash and carry.

I have earned the right to buy a new car every three years, or two no matter how incorrect financially. I am 64 years old. I am through with my saving every penny. I am in the spending mode and still cannot spend our income, nevermind savings. So I piss away money on cars LOL I still like the game. Negotiating. Selling my own cars.
 
#61 · (Edited)
I just leased an MKC Reserve. (options in sig) MSRP $45800 First payment/$500 sales tax/$199 dealer fee and tags $51 Down.

Payment is $399 35 months.
 
#64 ·
To make the best decision on your next lease, it's wise to gather as much information as possible before stepping into a dealership. You've mentioned considering both a Jeep Grand Cherokee and an MKC, which are both great options, but the key is to find a deal that fits your budget and preferences.
 
#65 · (Edited)
I completely understand the mixed feelings about dealership negotiations. It's a love-hate relationship for many when it comes to getting a new car. The excitement of a fresh ride can be exhilarating, but the process of haggling over prices can be quite daunting. But you're on the right track by seeking out online resources where people often share their lease experiences.
Another option to consider is consulting with a Mortgage Broker in Bridlington. They specialize in financial matters and may be able to offer expert advice on lease options and help you make an informed decision that aligns with your needs and financial situation.
 
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