HI EVERYONE, TODAY I WILL EXPLAIN TO YOU WHY NOT TO BUY A NEW LINCOLN. I WILL EXPLAIN TO YOU MY LINCOLN MKZ PAYMENT AND WHAT COULD HAVE HAPPENED TO ME IF I BOUGHT IT! #DONTBUYNEWCAR #LINCOLNMKZ #LEASEVSBUY
@Arty's Garage 'I really appreciate this video, (Educational Financial advice and insight is always helpful) and helps alot of first time buyers like myself. There are Pros and cons for every avenue taken when it comes to requiring a vehicle and you were willing to share yours. Ty🤔
I thought he was going to have a real problem with this car but instead it's about the money. If your financing a car this is how it has always works. 😎
I financed 30k for 60 months at 0 percent for my 2018 black label with everything except pano roof. I paid 52k for it total ordered straight from the factory. I don't have any issues.
Exactly! First off, if you buy a brand new car, you will always lose out financially. Second, if you are the kind of person who "gets tired" of a car in one year, LEASE IT. I don't care if it's a shiny new Lincoln or a Chevy Cobalt, you will lose a ton buying it and then selling it, period. But yeah, I'm looking at one of these and was hoping to hear complaints, but no, car runs fine, they're good machines, good engines, good quality, just complaining about the costs. Welcome to automotive finance!
Yes your right , but in my opinion some cars have such great lease deals after you calculate depreciation it’s not worth financing it unless you plan on driving it for a very very long time! My personal opinion “ I might be wrong “.
I Agree I'm thinking based on the title there's something wrong with the car....other than it being a Ford lol....but seriously that was a click bait title.
You made a bad deal.thst is not the fault of the car. If you do not know what you are doing you can make a bad deal on any car. Do not expect the dealer to tell you they are taking you.
@@CHEVYSORCROWNS there is depreciation by 10% and by 30%, 40% .... the Lincoln MKZ is a great car and like I mentioned previously in many videos I do miss having one but for example I recently owned a brand new Camry which was a 27k car that I got brand new with 0 miles for 23k and with the deal I got you can barely find a used one for that price so the depreciation wouldn’t be as hard on your pocket! I’m not trying to teach people how to live because I also make mistakes but just sharing my experiences with all my cars on this channel!
Dude, change the title to "Why You Should NEVER Lease A Car" There is NOTHING wrong with the LincolnMKZ!! Actually, anyone who is smart would NEVER lease a car in the first place!! 😂
I am a Lincoln Salesman, and this is the best review I have seen of our cars yet. They look good, they drive good, cheap to own, and if you lease you give them back. I’ve leases 4 now, great value
The trick is buying one after someone like you moved on. I pay $400/month for a $20k MKZ that started with 40k mi on it. Right-side up with no gap. I will ditch it at around 70-90k mi in roughly 1-2 years. Thanks to guys like you for taking care of that super depreciation for us 😁
One of the highest rated sleepers made in 2017-18 but the AWD version is the best by far.. 3.0t with 400hp and 400lbt.. amazing car, I can't think of one legitimate reason NOT to buy one..
@@Marjie73 3.0 motor with Awd is their top model 400 hp fastest Lincoln ever made in 2 ways ! I was watching donut media and it made the fastest car because the governor is set at like 155 mph or something like that. It has something to do with the cars TopSpeed. it definitely is the fastest Lincoln ever made, though. They have a list if you Google it. there’s different lists with different answers but the newest one that they posted in the Lincoln MKZ group says that this car is number 1 in quarter mile and 60 foot but only by mm !
Bought my 2017 3.0T in 2018 for half price. I studied these cars for a few years. I knew that it would be half price after one year. I got a hell of a deal with under 30k miles.
I wish I had the 3.0t 👌🏽 thing has the power when you need it! Pre-owned is the way to go or you have to get a great lease deal “ my opinion “. Enjoy it 👍🏼
@@skeetoblaster6501 don’t mind at all. I’m getting 17.8 mpg which is great since I don’t baby it. I’m enjoying the car. Have some minor things that I’ve taken it in for under warranty.
It’s cheaper to buy per use with low or fairly mileage? Which do u think is better because those cars are Beautiful and yes you’re going to pay but if you can’t afford it.... Don’t jump on it... Because Lincoln Cadillac Mercedes BMWs Audis‘s are not for everyone.... but there nice cars one day I myself hope to get a Lincoln..
Hi Art! I was afraid you had a problem with the MKZ based on your video title. But it is the depreciation that is killing you. I learned when I was 20, (now 65)you NEVER buy or lease a car WHEN NEW!! NEVER! They all drop like a rock and you lose thousands of dollars. I am looking at used MKZ's now and they're at that $25k area. Leasing is WORSE than if you buy it. (See video called "Buying vs. Leasing A Car" by Marko) I am sorry you learned the hard way. Always BUY a car used with as low of miles as you can afford. More miles, cheaper car. Good luck!
I just bought the 2017 mkz reserve 3.0 Awd window sticker was 60 k exactly almost. 400 hp I love it but reading this comments crazy how I paid more for a R-title due to someone dying in the car I guess cause the blood. I paid more for this car then people did in your comments 2 years ago. Crazy that cars have gone up in price since 2 years ago!!! I love this car though. I’m going to add bunch mods as soon as I figure out this ambient air temp sensor problem. There is a bulletin about it but I don’t understand it.
I purchased my used 2014 Lincoln MKZ Hybrid with a substantial reduction on the price. The car is very reliable and runs FANTASTIC! Currently the Lincoln has required the driver side, rear bearing replacement , a new 12volt battery, and amplifier replacement. The new car prices are heavily inflated. If something should happen to my Lincoln MKZ , I’d gladly purchase a used replacement.
Let me ask u something bro. On the rear bearing replacement, did u know u needed one because your back tire was wearing out so frequently? Like mine always gets gashes in it like a ridge.
Д К I’m stating my opinion on the car that I had at the time which was the MKZ and it’s numbers! Im aware cars are depreciating assets but some are more then others.
Used to work as a skip-tracer (on the financial side, NOT the fugitive retrieval side). Feels like a lifetime ago. Anyway, one day we get a call over the phone. Debtor wanted to start a payment plan. As I transferred her over to Collections, the collections operator informs me on a private in-office line that this middle-aged woman is throwing a fit and that she's horribly offended because I called her a "debtor." Keep in mind, debtor; not deadbeat. The collections agent was giving me constant grief that he had to apologize to her on my behalf. (Yeah, welcome to our line of work, buddy.) I apologized to him three times. But he wouldn't let it go. I got fed-up! Told him I wasn't going to keep apologizing to him all day long. Pointed out the fact that I called her a debtor, and not a deadbeat. If she's so offended by that term, great! Try to get a payment in full out of her. That way she no longer owes Providian Bank any freaking money, and I hung up on him! Point being.... You owe money to anyone, you're a debtor. So, if you're going to be one; make the best of it. Getting a new car, going into debt; be sure you keep it for the entire term of the lease or keep it for several years if you bought it with the help of a loan you're paying off slowly on a monthly basis. How long, if you bought it? Until it's paid off. That way it's yours free & clear. No longer a debtor. If you get sick of cars, quickly; lease them. Sick of it after one year? You only have to live with it for 2 more. That's nothing.
You're absolutely right about everything you said. I just got my 2017 Lincoln MKZ 3.0t Reserve for $24k otd with only 43k mi on it. Definitely better to buy it used, than new!
i got a 2017 mkZ 2.0t for 26k 2900 Miles!!!! Not a TYPO only 400 a month payment 72 months not to fukn bad id say nothing down either i traded in my old car towards it for 2200
Bought my 2017 MKZ less than 20k miles for $20k. No damage, perfect condition, basically brand new certified pre owned. Better feeling than a Mercedes C or E class that I test drive. Definitely felt more premium. Definitely got a great deal.
I drive a 2011 Lincoln MKZ (best body style in my opinion). I had just under 125k on it and it’s been in the family since new. Only issues it’s had is an alternator, and ac compressor replaced. Also no rust as a Indiana car :). Original window sticker was 36,575$
Watch out for the water pump! I have a 2010 MKZ. Best car I’ve ever owned, but there is one Achilles heel which is that the water pump is located in the valley inside the timing cover (assuming that it is FWD and the engine is mounted transversely). Not only can this be an extremely costly repair (upwards of $4,000), but if the pump fails catastrophically, it dumps coolant right into the oil pan! This creates the “forbidden milkshake” mixture of coolant and oil which can ruin the rod bearings/hydro lock the engine amongst other nasty things. There is a weep hole located behind the alternator on the side of the engine block so keep and eye behind there! Mine had 140,000 miles and still going strong with no major issues/repairs so far. I am considering tackling the water pump job myself rather than shell out thousands. Good luck!
@@stevenlamb8726 hello Steve, since I made my original comment I’m currently sitting at 149k miles. Original pump and timing chains. also forgot to mention that i get a coolant flush every 3 months
Why are you buying a luxury car if you don't like the price??? Think how upside down you would be on a Mercedes, Lexus or BMW... Just as much or more. Never ANYTHING new if you cannot handle depreciation period.
The general rule with me is to lease a brand new high end car and turn it in after 3 years....or buy a 3- year old year high-end car (that’s probably off a lease) when it had depreciated 50%. I tend to keep my cars 10 years or so, so I do the latter. The advantage of leasing is you generally have no maintenance during those 3 years outside of oil changes etc. The disadvantage of buying used is you will have maintenance. But the depreciation of the vehicle before you bought it more than makes up for any maintenance cost, generally.
It was obviously click bait, but I thought it was gonna be "don't buy it because it will make you realize the competition is lame" type click bait. I didn't realize it would be "don't buy it because I'm financially illiterate" type click bait.
@@artysgarage Haha, sorry for busting your balls, but good that you have a sense of humor about it. Also "so now you know" compels me to crank up some Outshined by Sound Garden, so thanks for that!
Looking at a used 19 mkz reserve II with premium package. with the 2.0t engine. 29k! I believe the original price with all of the options was around 48k
You are correct. A loaded out Reserve is about $48K. I just bought out the lease on my 2018 Reserve 2.0T (there was only a Reserve, not a Reserve I and II that year). This one is loaded w/every option as well, except the 3.0T V-6 engine. Buy it! You won’t regret it! The vehicle practically drives itself, parks itself, and offers a Sport mode. Lincoln has an app for your phone which monitors the vehicle, offers remote starts, and notifies you when maintenance is required. My particular vehicle had a lease-end buyout of $26K, but the KBB trade-in value was $28K (1 month ago). Just an FYI, Lincoln is no longer producing cars, SUVs only. Get it while you can!
This car is phenomenal. Bought new in 2018. Heated seats steering wheel, memory, leather, and reliable as hell. Light up door sill, power folding memory, smells delicious everytime you hope in. Nothing but oil changes and tire rotations. An e class/5 series/a6 without the headaches
ALSO, ON ANY LOAN YOU GET, MAJORITY OF YOUR CAR PAYMENT GOES TO INTEREST FIRST! AS YOU PROGRESS IN YOUR LOAN TERM, AMOUNT PAID TOWARDS PRINCIPAL INCREASES AS YOU PAY MONTH TO MONTH. THIS IS WHY IT'S BEST TO MAKE EXTRA PAYMENTS AT THE START OF YOUR LOAN AND IDEALLY, THROUGHOUT YOUR LOAN TERM TO QUICKLY PAY IT OFF!
I'm on my 2nd MKZ, first one was a 2013 and sadly I was in an accident and now I'm in a 2017, best cars that I've even owned. I'm a Lincoln girl for life!!
So, this video has nothing to do with the MKZ. It's some guy who didn't do the math of how much an leasing and then buying an expensive car will really cost until after he did the deal. You could have bought that same car used 2 yrs old with 40k miles, Lincoln certified to 6 years / 100k miles (meaning you have 4 yrs 60k miles of warranty left), for half the price you paid (like $20K - $25k). On top of this, you leased and then purchased. Leasing then buying at end of lease always winds up being a losing deal. Doing that with a luxury car is doubling down on dumb. Financially you either lease, or buy, but mixing the two up is a loser. The dealerships will make money off both deals and you'll usually pay more for your leased car than it would cost on the used car market. So you get double whammy. Every luxury sedan devalues rapidly - usually 1/3 or more in 2-3 years. The MKZ is no exception. For the record, I just bought a Lincoln certified 3 year old MKZ hybrid with 25k miles for $19k, 20K out the door. I have 3 years and 75k miles of warranty left now, roadside assist, loaner car when it needs repairs, and if it breaks down out of town they'll give me a hotel. Lincoln has excellent support. That was all built into that price. It's an awesome car. That is how you buy a luxury car at regular midsize sedan prices.
I never bought the car, I leased it! The point of the video was buying it pre-owned is better then new because how much depreciation. I’m sharing my numbers and experience with my mkz! Congrats on your new ride 👍
I have 2012 mkz hybrid 2.5l duratec engine. and it has 267k miles on it.I paid 4,500$. It is the best vehicle I had so far. I fixed all of the problems by myself. We talk the same language and I understand my car. It is my love. For me it is the most underrated car . By the way I had 2 priuses 1 Accord 1 fx35 1 outlander and 1 mkz hybrid so far. I still drive mkz. I put 5 quarts of oil and get 4 quarts after 3000 miles.
Update - I did need a new transmission at 112k. I have extended warranty through mopar and they are amazing. $8k of work and I only paid a $100 deductible lol
This information applies to any new car. Not specifically that Lincoln. I bought a pre-owned Lincoln MKS Eco-boost AWD sedan and got a excellent deal on it. My insurance is also much less expensive than on my Jaguar XF Supercharged V8 Portfolio Edition total POS car. I spent thousands of dollars for repairs on that POS car. My 2013 Lincoln MKS Eco-boost AWD sedan hasn't given me any issues in the 3 years I've owned it. A Jag is nothing more than a Tata in Jag drag! But I love my MKS.
Just bought a 2015 mkz 2.0t for $15000. With 79000miles on it. Great car. Smooth ride. Only thing is that the backup camera keeps say “unavailable, contact dealership”
Got a 2013 with the 3.7 and full glass top for $9,500 about 5 years ago. It has been driven over the Rockies offroad (blew a rear strut) and is still heavily a daily at 208k now. Still on original water pump. Rear struts, tires, brakes, one caliper, plugs, and a battery is all I've had to fix. Everything still works. Great car. I am going to tackle the water pump within next month or two.
I never understood why people compare Lincolns to sports cars. Lincoln is a Luxury brand they aren't focus on speed or drag racing or fast acceleration. They main focus is comfort and Luxury and smooth driving.. trust me you would never take a McLaren on a.cross contry road trip. Or a Jagar. They are stif and gas money will get you.
Great car MKZ travel lots for work, no problems very comfortable and I am on my second MKZ. It is a lot of car for the money if you get a demo or new to you.
YOU SHOULD NEVER BUY A CAR WITHOUT A GOOD AMOUNT FOR DOWN PAYMENT!! YOU SHOULD HAVE ATLEAST 20% DOWN ON THE PRICE OF THE CAR. NEVER EVER BUY A CAR WITH NOTHING DOWN!! ANY FINANCING ADVISER WOULD TELL YOU THAT!!
The title and premise of this video is horrendous. It should be underlined that the Lincoln MKZ is an excellent vehicle. Buying a new car off the lot is almost always a terrible financial move, as is leasing a car. Nothing you've explained is specific to MKZs - significant depreciation of cars occurs to essentially every vehicle. You should buy an MKZ, just buy it used.
Fantastic video, Auto buyers in the U.S. are economically challenge. Based on national average income most people should not buy new. Look forward to more videos with this breakdown . Well done!
I was going lease but I ended up buying a Lincoln MKc used with 30k for 19k Payment of $304 I like the car way more than I thought I would the interior is a little cheap
Good video. I personally know a dealer who operates a "dealership" out of his home. He is a legitimate licensed dealer who just loves cars. You tell him what you want, and he buys it at an auction. His fee is only $300 or so. Got a 2017 MKZ 3.0t Black Label with only 26K miles. Very pleased with it.
Thank you! Yea I had a guy like that when I lived in Philadelphia he pulled cars from auctions for people. Congrats on the 3.0 🙏🏼 those are great because you have the comfort and the power 👍🏼
I didn’t target the Lincoln but my videos are all created during my ownership and my opinion. I made a review on the channel about the mkz and how great of a car it is. I know cars are depreciating assets but not all cars depreciate. If you check out my channel and cars I own you will understand that some cars hold value and actually can even make you money 👍
LOL. I inherited this car and love it. I was concerned about what type of critical component failures or issues mechanically this car was going to have when I saw this video... Thank god it's all about a person who simply bit of more than he could chew by purchasing something he couldn't properly afford.
I'll have my beautiful 2018 mkz select for a LONG time. It's that nice and looks 10x better than other luxury cars that cost 50-60 grand or more. MKZ is only 36 grand MSRP brand new, if you can still find one since they are discontinued. Get one used and you're still looking at 28-35 grand because market value during covid is very high on everything in 2021. Even my 2013 Sonata I just traded in was worth 9 grand private and I got 7 at the dealer. That's amazing for a 8-9 year old used mid sized sedan. The fools in one of the comments below talking about 12 grand for their 2018-2019 MKZ....lmao. Bunch of bad liars. You'll never see a nice luxury vehicle for that cheap. A frickin compact car like a Elantra or Focus is worth 12 grand or more used....
You are definitely right the car market right now is crazy I sold two cars and bought two during this chip shortage and it’s hard to get a deal but definitely a good time to sell your getting top dollar
The problem isn't the MKZ. The problem is this person in your theory didn't account for depreciation prior to purchasing. Why buy a 41K MKZ brand new when you can get it for half off if it's 2-3 years old? If you're talking about money, why not just buy a Ford? The maintenance costs are going to be through the roof because it's a luxury brand.
Well unfortunately not everyone calculates the depreciation and looks into the specific car/model they are buying. Later down the line I know plenty of people including myself on certain purchases that regret the deal. The Lincoln video is my ownership experience opinion because I owned the car [ lease ] and it took a huge dip in first year. I own other cars that actually hold value and don’t plan on selling them.
@@artysgarage I understand that, but that isn't the MKZ, the salespersons or anyone else's fault. It's the fault of the person shopping. I think that's a bigger lessons than recommending people not buy a specific car don't you think?
I’m explaining what could happen and using my car as a example, I did a ownership review in a different video and mentioned it plenty of times that the car is great car but if you buy it in a BAD Deal you will regret it if you don’t plan on driving it until the wheels fall off!
I own a 2013 Lincoln MKZ, 3.7L V6. I have 55k original miles on it. I bought it in 2015 with 11k original miles. I change my oil every 5000-5500 miles. I replaced the front brakes 2 years ago n have had no other repairs on my vehicle. I detail it every 12 months. Wash every 2 weeks. Car looks beautiful & still runs great as my Daily driver. Highly recommended.
Back in 2018, I bought a used 2017 Black Label model for 30K. I saw 2017 lower trim models from $19k in perfect condition. I literally saved $25k buying slightly used.
Do what the poors do and trade it back in and have the negative balance moved onto another new car where the value will drop $13000 the moment they sign their name to the title.
I bought my '15 mkz in '17 for $19,000 with 29,000 miles and that baby is still getting major props. It's paid off too. I'll never ever will buy a brand new car again!!!!
I've found a used 2013 Lincoln MKS with 137K miles for around $9,500. I don't know much about cars but I figure it's better than my 2002 Ford Taurus. The interior and exterior are still in pristine condition.
So why didn't you buy it used from CarMax?I still don`t understand what are you talking about? finance or problem with mkz? The title of your video should be, "bad financial decision".You need to start putting more into the principal like 1k a month to get rid of the loan faster or bring your loan equal to the actual value of the vehicle. It will hurt a bit but you will catch up to the real value of the car that is around 19 to 20 k . You will get there and don`t think about getting another car just make extra payments. There is nothing you can do now. Do a garage sale and put as much extra on the principal balance you can.
I no longer own the mkz! You are 100 correct in making principal payments, all the cars I finance I always try to make monthly principal payments. The Lincoln was a lease and the point of the video was that if I would have financed it I would have been upside way to much to get out because how huge the depreciation is on the mkz. It’s better to buy that car used or buy it and drive it for a very long time 6+ years or else you will lose a lot of money
I bought my Lincoln MKZ used with 50K miles for $15,000 and my payments were $250. Lincoln’s are awesome cars but they depreciate fast so don’t buy brand new and you’ll be fine
Before you signed the contract you already know how much the value of the car. You leased the Lincoln and then you bad mouth the car financing. Then you should save your pennies and buy it CASH. I've owned Ford since high school and drove the hell out of them and not even once that it let me down. I drove my Ford's coast to coast from SF to Miami and no problems. To me, that says it all. Buy it because you like it and stop crying bad mouthing a good product. You don't like the financing then buy 30 year old car cash!
All I’m saying is if you lease this car it’s great, if you plan on buying it new you better drive until the wheels fall off ( or be upside down ) and you have option buying it pre owned and let the first guy take the loss!
Financials you can talk about any such car which is costly and doesn't suits your budget. You are talking about finance not the Lincoln MKZ car. Update your title of the video.. see your likes and dislikes on video.
I checked out your video Arty because I am looking at a Lincoln MKZ. Your title peaked my interest because I thought it was a good car, but hmmm, maybe not. But your video tells me to do it. I am paying cash by the way so the interest rate is immaterial. Its three years old, looks and drives new so I am ready to pull the trigger.Thanks for confirming my decision.
Saw your other video and I too noticed the legroom in the back when the seat was in the driver's position. Not good, but won't be using the back seat much except for Remmy, our dog, and he never complains about anything. Thanks again.@@artysgarage
You can finance some cars and not take such a big financial loss! Yes cars are all depreciating assets but some can make you real upside down and in debt. Just sharing my experience with my mkz
@@artysgarage Even still, you should rename this video from this clickbait title. Basically you're telling people to not buy a MKZ because if you finance it, you pay more for it in the long run. This has absolutely nothing to do with what car it is (which your title suggests), this is a financing thing on ANY car.
What ever happened to buying a car you love, are proud of and then just keeping it and driving it until the wheels fall off? Most cars out there should last you a long time, should you keep the oil changed in it and when they get a little older, maybe a little preventative maintenance if you feel like putting some money in to the. Look up the million mile Lincoln Town Car. Old guy bought it new and drove the hell out of it. It was an '80s model.
I agree my father had a 1993 Lincoln town car for many years! Cars back then lasted longer and people thought differently and owned a car for many years and put tons of miles but now we live in a tike when people like to switch cars often and doing that cars mostly all cars depreciate like crazy!
Don't finance because you will be upside down and paying for depreciation. Instead lease it so you can pay $400 to borrow a car that you likely will never own... When you lease, you are paying the depreciation and only getting to use the car for a short, limited mileage, time. You aren't avoiding depreciation, you are just paying it for the next owner. How is that better?
I found my 2017 Lincoln MKZ AWD 3.0 Twin Turbo with 31k miles for $22,000 at a DEALERSHIP!! I went to Carmax several times and yes they DO have really nice cars at a less price but the Dealership somehow beat their price!
You are right! Those cars are a bargain when you buy it when they are 2 to 3 years old.I never buy a new car! And pay it cash. That’s the only way to go… I had one for half the original retail price!
Ik I'm super late I just saw the video. Hopefully you got rid of that car by now. I just feel like next time when u go to dealership, go with someone who is good at negotiating. Also you lease the car that you cannot afford. Remember that you only buy car or anything in life when you can buy it twice. Let me say it again. Buy it when you can buy it twice
buying a 17 hybrid reserve(its in transit) for 25K from carmax, i ran the vin through carvana and they offered over 24K, with my down payment and my current paid off trade, i'm actually going to have a decent bit of positive equity to start out with. was suprised the trade value came in that high.
