FordBuyer Posted August 24, 2010 Share Posted August 24, 2010 Ok, I'll say it - Fordbuyer was right and I was wrong about the MKX. It was bound to happen sooner or later....... Quote Link to comment Share on other sites More sharing options...
BORG Posted August 25, 2010 Author Share Posted August 25, 2010 (edited) BORG, I am glad you backed off the MKS. While I love mine, based on your posts, I just didn't think it fit your needs. Had it not been for what seemed like a good lease deal, I am not sure you would have considered an MKS at all. Deciding on a particular vehicle just because of "the deal" can be risky from a long-term satisfaction standpoint. You are exactly right! I never wanted the MKS, but the deal sold me. The MKS is not my type of vehicle, as nice as it is! I have always gotten exactly the car I wanted, and I knew this wasn't the right choice. I did test drive the 2011 Edge today and fell for it, AWESOME vehicle guys!!!! For the first time I'm excited. I would be more excited if it was an '11 MKX, but the monthly note would ruin my enthusiasm . But I'll wait and see if October brings better lease rates. If not, I'm sold on the Edge hands down! In either case, the new Edge is a huge upgrade from my current MKX, there is no way this is the wrong choice from where I'm sitting. I am going to miss my MKX bum, but I loose that anyway with the 2011 MKX. I'm still not happy with what they did the rear, but the front and interior are awesome! And as much as I want to order the Sport, Trailer Tow isn't available which essentially eliminates that option. Here is a little video I shot with my iPhone today. Sadly, the vehicle was in "Transport Mode" so I missed out on most My Touch features. The touch controls are very sensitive btw, they work better than physical buttons IMO. Edited August 25, 2010 by BORG Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted August 25, 2010 Share Posted August 25, 2010 Here is a little video I shot with my iPhone today. Sadly, the vehicle was in "Transport Mode" so I missed out on most My Touch features. The touch controls are very sensitive btw, they work better than physical buttons IMO. Cool vid. Really like those guages! Quote Link to comment Share on other sites More sharing options...
BORG Posted August 27, 2010 Author Share Posted August 27, 2010 Guess what guys, I'm getting the 2011 MKX At least, that's the plan right now. I am waiting until late September or pushing my lease into early December. Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 (edited) Hmmmm...I said putting bigger downpayment down changes the lease rate, not the total cost of the lease, and I said Ford may throw down a little more cash on the hood, not a lot. And I did sense some remorse from Borg. After all, he does drive an MKX, not a MKS or an Edge. He will do what he will do, but the MKX review should be out shortly along with the vehicle itself. It will be interesting to see how they compare them and if there is any more differnentiation between the two than with 2010 model. actually no, nothing changes the rate, all additional cash up front acheives is additional cap reduction...to simplify, every additional $1000 on a 24 month lease lowers the payment approx $50 a month and on a 36 month lease about $35 Edited August 27, 2010 by Deanh Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 Guess what guys, I'm getting the 2011 MKX At least, that's the plan right now. I am waiting until late September or pushing my lease into early December. incentives may improve by then....good luck Quote Link to comment Share on other sites More sharing options...
akirby Posted August 27, 2010 Share Posted August 27, 2010 actually no, nothing changes the rate, all additional cah up front acheives is additional cap reduction...to simplify, every additional $1000 on a 24 month lease lowers the payment approx $50 a month and on a 36 month lease about $35 Which is why I don't think you should be allowed to advertise a monthly payment lease rate with more than 2 payments up front and no less than 12,000 miles per year. Otherwise it's totally misleading. I mean - I could advertise a 2011 loaded MKX with a 39 month RCL at $10/month*. * $20,000 due at signing A $300/month lease for 24 months with $2400 due at signing is really a $400/month lease. Period. Quote Link to comment Share on other sites More sharing options...
Hugh Posted August 27, 2010 Share Posted August 27, 2010 And as much as I want to order the Sport, Trailer Tow isn't available which essentially eliminates that option. Here is a little video I shot with my iPhone today. Sadly, the vehicle was in "Transport Mode" so I missed out on most My Touch features. The touch controls are very sensitive btw, they work better than physical buttons IMO. Ooooh! Aaaahh! Really cool! Quote Link to comment Share on other sites More sharing options...
Hugh Posted August 27, 2010 Share Posted August 27, 2010 Guess what guys, I'm getting the 2011 MKX At least, that's the plan right now. I am waiting until late September or pushing my lease into early December. At least you made up your mind. :shades: Keep us in the loop. Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 Which is why I don't think you should be allowed to advertise a monthly payment lease rate with more than 2 payments up front and no less than 12,000 miles per year. Otherwise it's totally misleading. I mean - I could advertise a 2011 loaded MKX with a 39 month RCL at $10/month*. * $20,000 due at signing A $300/month lease for 24 months with $2400 due at signing is really a $400/month lease. Period. Kirbs, after doing this for 20 odd years I have come to one conclusion, customers would rather get into a heated argument with the sales personnel at a dealership rather than read the small print................ Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 Which is why I don't think you should be allowed to advertise a monthly payment lease rate with more than 2 payments up front and no less than 12,000 miles per year. Otherwise it's totally misleading. I mean - I could advertise a 2011 loaded MKX with a 39 month RCL at $10/month*. * $20,000 due at signing A $300/month lease for 24 months with $2400 due at signing is really a $400/month lease. Period. actually no you cannot, cap reductions are capped at 20% of cap cost ( selling price ) max.... Quote Link to comment Share on other sites More sharing options...
akirby Posted August 27, 2010 Share Posted August 27, 2010 actually no you cannot, cap reductions are capped at 20% of cap cost ( selling price ) max.... Didn't know that, but it should be a lot less than that. Like I said - 2 payments, max. You can still prepay the entire lease though, right? Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 Didn't know that, but it should be a lot less than that. Like I said - 2 payments, max. You can still prepay the entire lease though, right? then the payments would be out of peoples reach....yes you can pre pay...APP is what they are called....havent done one in a LONG time.....and really, why would you with 0 % on a purchase avail.... Quote Link to comment Share on other sites More sharing options...
akirby Posted August 27, 2010 Share Posted August 27, 2010 then the payments would be out of peoples reach.... Just so we're clear - you're saying that someone can afford to put $2400 down in cash and pay $300/month for 24 months but they can't afford to put $0 down and pay $400/month for 24 months? Does the $2400 cap cost reduction fall from the sky or does it come from the tooth fairy? Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 Just so we're clear - you're saying that someone can afford to put $2400 down in cash and pay $300/month for 24 months but they can't afford to put $0 down and pay $400/month for 24 months? Does the $2400 cap cost reduction fall from the sky or does it come from the tooth fairy? you would be VERY surprized kirby Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 (edited) Just so we're clear - you're saying that someone can afford to put $2400 down in cash and pay $300/month for 24 months but they can't afford to put $0 down and pay $400/month for 24 months? Does the $2400 cap cost reduction fall from the sky or does it come from the tooth fairy? oh, and 2400 equates to approx $120 Edited August 27, 2010 by Deanh Quote Link to comment Share on other sites More sharing options...
akirby Posted August 27, 2010 Share Posted August 27, 2010 you would be VERY surprized kirby So surprise me - how can they afford a lump sum $2400 payment up front but not afford to pay $100/month for 24 months? Quote Link to comment Share on other sites More sharing options...
fordmantpw Posted August 27, 2010 Share Posted August 27, 2010 So surprise me - how can they afford a lump sum $2400 payment up front but not afford to pay $100/month for 24 months? It's not that they can't, they just don't understand the math. Some people just don't get it. They don't realize that $100/month for 24 months is the same as $2400 up front (actually less if you include interest). Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted August 27, 2010 Share Posted August 27, 2010 It's not that they can't, they just don't understand the math. Some people just don't get it. They don't realize that $100/month for 24 months is the same as $2400 up front (actually less if you include interest). If you talk to dealers, they will tell you that it's all about monthly payment. That is the bottom line for most new vehicle buyers. Ford used to offer a one time payment lease that would cover the 24/36 month lease deal. I don't know how popular they were. And Ford in their advertising for most part tries to get montly payment as low as possible by including dollar amount downpayment. Now individual dealers in their own advertising will sometimes show monthly lease deal with $0 down. Again, I don't know the percentages of customers who go with $0 down and those who go for regional offer of $2,400 down and smaller montlhly payment. Everyone is different in what they prefer. But lowest monthly payment seems to the popular way to go for many. Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 So surprise me - how can they afford a lump sum $2400 payment up front but not afford to pay $100/month for 24 months? ok...if you are going to be that way....why dont they just pay cash???/ come on Kirby...its all about expendable income and what people can afford....some can have the downpayent some dont....some can afford a payment some cant...everyone has a differing situation....and some will walk for $5 a month over a perceived budget....YOURE the one saying some hypothetical customer can afford $2400 up front.... Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 If you talk to dealers, they will tell you that it's all about monthly payment. That is the bottom line for most new vehicle buyers. Ford used to offer a one time payment lease that would cover the 24/36 month lease deal. I don't know how popular they were. And Ford in their advertising for most part tries to get montly payment as low as possible by including dollar amount downpayment. Now individual dealers in their own advertising will sometimes show monthly lease deal with $0 down. Again, I don't know the percentages of customers who go with $0 down and those who go for regional offer of $2,400 down and smaller montlhly payment. Everyone is different in what they prefer. But lowest monthly payment seems to the popular way to go for many. or, if they cant swing the downpayment and the monthly is ok then they may go that route....everyones situation and perceived budget is entirely different...Jesus Christ guys...this is my profession...... Quote Link to comment Share on other sites More sharing options...
Deanh Posted August 27, 2010 Share Posted August 27, 2010 It's not that they can't, they just don't understand the math. Some people just don't get it. They don't realize that $100/month for 24 months is the same as $2400 up front (actually less if you include interest). and for some with very little cash in the bank he $100 a month is more agreeable than waiting to save the total "advertised".... Quote Link to comment Share on other sites More sharing options...
akirby Posted August 28, 2010 Share Posted August 28, 2010 ok...if you are going to be that way....why dont they just pay cash???/ come on Kirby...its all about expendable income and what people can afford....some can have the downpayent some dont....some can afford a payment some cant...everyone has a differing situation....and some will walk for $5 a month over a perceived budget....YOURE the one saying some hypothetical customer can afford $2400 up front.... Dean - I think you're totally misunderstanding the issue. My point was that in terms of how much you pay there is absolutely no difference between paying $2400 now or paying $100 per month for 24 months (not taking interest or present value into account) other than perception. $2400 is $2400 - period. I understand that some people would prefer the lump sum and some would prefer the monthly payment and I know that a lot of folks don't look at the total cost - they only look at the monthly payment. My original point (which you apparently missed somewhere) is that anybody that can afford to pay $2400 cash now and $299/month could put the $2400 in the bank and take out $100 each month and pay $399/month for 24 months. Either way - you're paying the same total amount for the lease. But if one dealer advertises a $299/month lease for 24 months with $2400 due at signing and another dealer advertises the same vehicle for $399/month with $0 down some people just look at the lower monthly payment and think it's a better deal when in fact it costs exactly the same. It's the same as advertising a very low monthly payment on a purchase but you have to make a huge downpayment and finance it for 72 months. I think it's deceptive advertising. I wasn't making any judgement on what people like or don't like or understand or don't understand or what they prefer. That's your area for sure. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted September 4, 2010 Share Posted September 4, 2010 I think it's deceptive advertising. Well, the problem is, you've got to draw the line somewhere. $199 looks more than a dollar cheaper than $200 to most people (and there are scholarly studies to back that up). So is "only $199" deceptive advertising? Of course it is. Does that mean it's unethical? Meh. Probably not. Is "$269 per month, $2400 due at signing" deceptive? Of course it is. But, like the $199/$200 thing, it's not really unethical. Quote Link to comment Share on other sites More sharing options...
Deanh Posted September 6, 2010 Share Posted September 6, 2010 Borg, you better hurry up and get that flex.....Labor weekend sale we have so far sold 7??????...3 of which were eco-boosted....weird man, car can sit then BOOM!.................... Quote Link to comment Share on other sites More sharing options...
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