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My Continental

I lease (first time I have ever done so; over the last fifteen years, I have historically bought used luxury foreign, but kept only a couple of years): 39 months, 7500 miles per year. Price per month was superior to buying out right on time. (Lots of retirement income but not sufficient bank to buy outright). Pretty good deal; and I can buy it at the end (or let it go to the lot and buy it) for what a four year car with less than 30000 miles would cost. Wanted a brand new car; having gotten too old to work on used cars, this was the most affordable solution. Even if I don't like the car after a year or so, the walk out is cheaper than trading . . . .
 
I've never leased a car. I buy using the Dave Ramsey plan (buy used; pay cash). The last 4 cars I bought came off leases. Only 1 was a bad deal; the car was a lemon (not a Lincoln), and I traded it long before I had planned to. I buy used because the average new car looses 47% of it's value in 3 years. I have better things to do with that kind of money. I bought my current Certified Pre-owned MKS for half of the original sticker price, and it came with a good warranty.
 
Thread starter #264
I have only started leasing since 2008. The dealer actually was the one to get me started. I had at the time a 6 year loan at 0% and he asked if I wanted to reduce the payments. I have enjoyed leasing ever since. I had kept my cars before that time for at least 9 years. But the trade in value was never that great on such an older car. Now I can get whatever is the newest and latest. I had 3 year leases as well as 39 month leases and my current is a 2 year lease on the Conti. On a lease I pay the depreciation on the car and can get sometimes a good residual on it My next lease will probably be a 39 month lease only because it is usually the best deal. I have often got out of a lease early such as when I had a MKS and turned it in for a Continental. If I really would love a car I would just buy it and not lease but not yet! :cool:
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Thread starter #265
Just found out that my lease residual value is not going to be helpful for future leasing or even for purchase. Apparently the trade in value is slightly less than $1000 . Meaning my residual value that I could get the car for at lease end would be $1000 more than the trade in value. It could get me nothing to try to get another vehicle.
Also just shopping around I found that another brand car dealership cannot easily get the buy-out number on my car lease. After calling a Ford Credit Leasing they were told that they must contact the selling dealer. The sales manager was given all sort of excuses why he could not talk to anyone in finance at the dealership. It actually took 4 days to get an answer from them with the buy-out figure. Apparently Ford makes it extremely difficult to lease a car from another brand dealer by not providing info directly or quickly. I really do not consider that a good business practice! :(
Just shopping around to see what is available is proving interesting. Today i’m Checking out Cadillac.
Anybody interested in a used Continental with low mileage?
 
Resale value is miserable on these. Mine is for sale on CarSoup and Craigslist but I doubt I get many interested buyers. I like the car fine and will keep it if I have to but it really don't need it anymore. I have this now and enjoy driving it much more than the Conti.
 

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Thread starter #268
Resale value is miserable on these. Mine is for sale on CarSoup and Craigslist but I doubt I get many interested buyers. I like the car fine and will keep it if I have to but it really don't need it anymore. I have this now and enjoy driving it much more than the Conti.
Wow!!!! The Mustang looks so great. I looked at a Mustang in the showroom and really liked it but because of my back problem , it is too low to get in and out of.
Even when my back recovers the future doesn’t look good for a low car so i’m stuck with an SUV. I hope you really enjoy the ride.
I am going to the dealership today to find out more about the buy-out price for my Conti. My brother thought because cars are being eliminated that could be the reason for the reduced re-sale value on the Conti. Although I told him that Lincoln will keep the Conti to compete against Mercedes and BMW with their sedans. But I think there is a limited market. Actually to buy my Conti I would be paying more than the trade-in value. He suggested I turn it in and when it goes on the dealer lot then buy it at the lower price. :cool::cool:
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I think that is the right answer: if you want to keep it, turn it in; once they check it out, recertify it, buy it off the lot. Probably for a bundle less . . . did that a couple of years ago on a BMW Z3: friend turned his lease unit in, they wanted too much to purchase it off the lease, so he leased a new Z4. I went and bought the car off the dealer's used car lot for $5000 less than his buyout price.

Still, just returned from a run up to Silver Spring, MD for Mothers' Day: great ride, 31 MPG running 70 - 75 up the Eastern Shore, 75 - 80 down I95 homeward.
 
Thread starter #270
Back from the dealer. Said that my car probably will not go on their lot. The leasing company will make more money at the auction because of my low miles. The used car sales manager said he only gets 4 out of every 10 cars that are turned in. So I guess my car will go the auction route which is for dealers only. Couldn’t keep it even though the price was right because it bothers my back getting in and out of it. :(
 
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I've never leased. I'll never lease.

That being said, I have many friends who have leased on the past. Most (not all) say NEVER AGAIN!
Too many "Gotchas". The leasing terminology is too compilcated for most of us to understand.
I had one friend who literally had his trade in "stolen" because of the Fast talking dealer and not
Understanding just what was going on. Another friend had to pay "Big Bucks" for every little mark
Or scratch when he turned the lease in, even though "normal wear and tear" is allowed.

BTW; how do so many of you drive so little? No way could I ever drive under 7500 or 10000 or even
12000 miles a year. Just driving locally, I put on 12000 a year. In addition, I drive to my second
Location 1250 miles away and/or my third location 1650 miles away from my primary Central Florida
Location. If I was only going to drive under 7500 a year, I may as well just get a Segway.
 
Thread starter #272
I've never leased. I'll never lease.

That being said, I have many friends who have leased on the past. Most (not all) say NEVER AGAIN!
Too many "Gotchas". The leasing terminology is too compilcated for most of us to understand.
I had one friend who literally had his trade in "stolen" because of the Fast talking dealer and not
Understanding just what was going on. Another friend had to pay "Big Bucks" for every little mark
Or scratch when he turned the lease in, even though "normal wear and tear" is allowed.

BTW; how do so many of you drive so little? No way could I ever drive under 7500 or 10000 or even
12000 miles a year. Just driving locally, I put on 12000 a year. In addition, I drive to my second
Location 1250 miles away and/or my third location 1650 miles away from my primary Central Florida
Location. If I was only going to drive under 7500 a year, I may as well just get a Segway.
I’ve never had any trouble with leases. Turn in is easy and getting out of a lease early is doable. I drive lower mileage because I live close to everything. We chose this location to be close to shopping and grocery stores. Yet our house is in a community that isolates us from the traffic and road noises nearby.
On weekends we use our SUV to get larger items or nursery plants. It is easier in a SUV than in the Conti and less messy.
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I’ve never had any trouble with leases. Turn in is easy and getting out of a lease early is doable. I drive lower mileage because I live close to everything. We chose this location to be close to shopping and grocery stores. Yet our house is in a community that isolates us from the traffic and road noises nearby.
On weekends we use our SUV to get larger items or nursery plants. It is easier in a SUV than in the Conti and less messy.
Same here. Leases have been problem free for me. Even if there's a little something here and there they could have charged me for - they didn't. If you have a crappy dealer, I'm sure it's a different story.
 
Thread starter #274
Probably have to say “good-bye”. I just leased a Grand Cherokee Summit which I will take delivery on Wednesday. They did not want my Lincoln and really neither did the selling dealer. They said it will go to auction because of the low mileage. I really loved the Continental but my on going back issue did not allow me to get on and out of the car more than twice a day. It is just too low. I found the Jeep was perfect and the seats are very comfortable. I don’t know where my car will wind up but it has low mileage and 2 years left on warranty. I cannot take it back to the dealer until I make the final payments. Then I turn it in.
 
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Probably have to say “good-bye”. I just leased a Grand Cherokee Summit which I will take delivery on Wednesday. They did not want my Lincoln and really neither did the selling dealer. They said it will go to auction because of the low mileage. I really loved the Continental but my on going back issue did not allow me to get on and out of the car more than twice a day. It is just too low. I found the Jeep was perfect and the seats are very comfortable. I don’t know where my car will wind up but it has low mileage and 2 years left on warranty. I cannot take it back to the dealer until I make the final payments. Then I turn it in.
I have two friends with the exact same car. Both Black. One leased and one purchased. They both LOVE them. Don't believe all the crap you may read about bad quality in those Jeeps. Wish I had purchased the Grand Cherokee vice the POS Continental.

I was once looking at the Cherokee but the loaded Grand Cherokee was more to my liking.

Well, don't matter. The Continental is the modern day Edsel. They just don't sell. I can see why. No "Pizzaz". No "Snap". I. The past six months, I've only seen two (here) in Central Florida. (Because of wife's illnesses, have not been able to go to my 3rd location [NM] or 2nd location [WNY] since last September).
 
Thread starter #278
I have two friends with the exact same car. Both Black. One leased and one purchased. They both LOVE them. Don't believe all the crap you may read about bad quality in those Jeeps. Wish I had purchased the Grand Cherokee vice the POS Continental.

I was once looking at the Cherokee but the loaded Grand Cherokee was more to my liking.

Well, don't matter. The Continental is the modern day Edsel. They just don't sell. I can see why. No "Pizzaz". No "Snap". I. The past six months, I've only seen two (here) in Central Florida. (Because of wife's illnesses, have not been able to go to my 3rd location [NM] or 2nd location [WNY] since last September).
The deal was very great on the Grand Cherokee Summit 4x4. I liked it because I can get in and out easily. The seats are comfortable leather. With the V8 engine , sienna and black interior, and a Platinum package included it even comes with skid plates. Not sure if I will need them but they were on the Summit. Got the deal with about $8300 off MSRP wchich also includes rebates.
After all of the SUVs that I looked at and test drove this one stood out. The air suspension lowers it for easy entering and exiting. There are many features that it doesn’t have that the Conti did but it also has others that make up for those.
 
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