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Lincoln hopes month-by-month leasing will woo luxury clients

Lincoln is launching a new subscription-based service that will allow customers to lease any of its vehicles on a month-by-month basis as part of a new suite of services aimed at offering flexibility and converting buyers. The luxury brand has also been operating a pilot program in which dealers bring Lincoln vehicles to consumers' homes for them to test drive on their own time — and sometimes even complete the entire sales process at their homes. Lincoln also announced on the heels of the L.A. Auto Show a new collaboration with Clear, a company that provides expedited screening at security gates at airports and sports arenas, plus an expansion of its Lincoln Personal Driver service, formerly known as Lincoln Chauffeur, to Dallas. Kumar Galhotra, Lincoln's president, said the company is trying to create a brand experience for consumers that is warm, human and effortless, and that the new services are based on consumer research that equates time with luxury. "We take this philosophy of warm, human and effortless, and we really embed it" in the vehicles and ownership experience, he said. Lincoln plans to launch its vehicle subscription service early next year, likely in "a couple California cities," Galhotra said, that allows consumers to lease any Lincoln vehicle on a monthly basis. While Lincoln did not announce pricing, the program is based on Ford Credit's Canvas program, which offers monthly subscriptions to pre-owned Ford vehicles and come with insurance, maintenance and warranty coverage. The service is so far offered only in the Bay Area and parts of Los Angeles. The service appears to be similar to the $1,500-a-month Book by Cadillac service and Care by Volvo. Robert Parker, Lincoln's global director of marketing, sales and service, said the service will allow consumers the option of upgrading to larger-size vehicles without being locked into a traditional two-year lease. "We acknowledge the fact that we are a challenger brand. We're not at the scale of the Germans," Parker said. "We certainly aspire to continue to grow, that's not our No. 1 focus.

2017-19 Ford Super Duty trucks recalled for tailgates that could open

Ford announced two separate recalls today, though neither has resulted in any known injuries. The first recall, which deals with a tailgate malfunction, affects 261,617 examples of 2017-2019 F-250, F-350, and F-450 Super Duty pickups. The second, which anticipates the possibility of a fuel leak, affects 3,893 units of 2020 Explorer and 2020 Lincoln Aviator SUVs with 3.0-liter engines. Ford says tailgates might accidentally open on some 2017-2019 Super Duty trucks because of a short circuit. If the pickups have an electric tailgate latch-release switch on the tailgate handle, water might get into the wiring. If the water hits the right spots, a short circuit could cause the switch to release the tailgate latch. In a worst-case scenario where the tailgate opens while driving, contents of the truck's bed could fall out and create a safety hazard. Dealerships will fix the problem by modifying the tailgate frame wiring harnesses with jumper pigtails and install a new tailgate handle release switch. Of the lot, 231,664 trucks are in the U.S., and 29,953 are in Canada. The Ford recall number is 19S48.  The second recall is much smaller, involving fewer than 4,000 vehicles. In certain 2020 Explorers and Aviators with 3.0-liter engines, Ford says, "The convolute protective sleeve on the liquid fuel line is not long enough, which may allow for potential hard contact with the convolute-protected vapor fuel line. Over time, with vibration and engine roll, hard contact between the two fuel lines could cause the convolute on the vapor fuel line to rub through the plastic liquid fuel line." If that happens, it could be a fire risk and hazardous for drivers and passengers. Only 35 of those SUVs are in Canada, and the rest are in the United States. Dealers will fix the problem by replacing the defective convolute with a full-length piece and tying it down with a strap. The recall reference number for the Aviators and Explorers is 19S49. The recall adds to what has otherwise been a rocky early production phase for the new Explorers and Aviators.

These are the cars with the best and worst depreciation after 5 years

The average new vehicle sold in America loses nearly half of its initial value after five years of ownership. No surprise there; we all expect that shiny new car to start depreciating as soon as we drive it off the lot. But some vehicles lose value a lot faster than others. According to data provided by iSeeCars.com, trucks and truck-based sport utility vehicles generally hold their value better than other vehicle types, with the Jeep Wrangler — in both four-door Unlimited and standard two-door styles — and Toyota Tacoma sitting at the head of the pack. The Jeep Wrangler Unlimited's average five-year depreciation of 30.9% equals a loss in value of $12,168. That makes Jeep's four-door off-roader the best overall pick for buyers looking to minimize depreciation. The Toyota Tacoma's 32.4% loss in initial value means it loses just $10,496. The smaller dollar amount — the least amount of money lost after five years — indicates that Tacoma buyers pay less than Wrangler Unlimited buyers, on average, when they initially buy the vehicle. The standard two-door Jeep Wrangler is third on the list, depreciating 32.8% after five years and losing $10,824. Click here for a full list of the top 10 vehicles with the least depreciation over five years. On the other side of the depreciation coin, luxury sedans tend to plummet in value at a much faster rate than other vehicle types. The BMW 7 Series leads the losers with a 72.6% drop in value after five years, which equals an alarming $73,686. BMW's slightly smaller 5 Series is next, depreciating 70.1%, or $47,038, over the same period. Number three on the biggest losers list is the Nissan Leaf, the only electric vehicle to appear in the bottom 10. The electric hatchback matches the 5 Series with a 70.1% drop in value, but since it's a much cheaper vehicle, that percentage equals a much smaller $23,470 loss. Click here for a full list of the top 10 vehicles with the most depreciation over five years.