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 Post subject: Re: Lease End Options
PostPosted: Sun Jan 06, 2019 1:17 pm 
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Joined: Tue Feb 12, 2013 4:36 am
Posts: 2360
Location: Southeastern MI
Why not just turn it in?

Take it to the Ford dealer hand them the keys and walk away... Thats usually how leases end.

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 Post subject: Re: Lease End Options
PostPosted: Sun Jan 06, 2019 1:27 pm 
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Joined: Mon May 09, 2016 9:19 am
Posts: 54
Hi!

That is definitely one of the options. But, if I can make some money out of it, why not. :-) I am wondering if the Ford Dealer will take an offer for it. If so, buy it from Ford, and sell to Carvana. But, it has to be worth the effort.

Regards,

GHTech

jmueller065 wrote:
Why not just turn it in?

Take it to the Ford dealer hand them the keys and walk away... Thats usually how leases end.


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 Post subject: Re: Lease End Options
PostPosted: Sun Jan 06, 2019 2:12 pm 
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Joined: Tue Feb 12, 2013 4:36 am
Posts: 2360
Location: Southeastern MI
Well the amount of $$ Ford would want is spelled out on the lease agreement, unless they make you an offer. You really can't make an offer to them you have to wait for them--and in my experience they just won't (if you call Ford Credit they will just direct you to the number on the lease contract).

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2018 Cajun Red Chevy Bolt
2016 Magnetic C-Max Energi (lease returned)
2014 Sunset Escape
2014 Thor Axis (V-10)
2013 Focus Electric (lease returned Jan 2016 for the C-Max above)
https://spareelectrons.wordpress.com/


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 Post subject: Re: Lease End Options
PostPosted: Sun Jan 06, 2019 2:19 pm 
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Joined: Mon May 09, 2016 9:19 am
Posts: 54
jmueller065 wrote:
Well the amount of $$ Ford would want is spelled out on the lease agreement, unless they make you an offer. You really can't make an offer to them you have to wait for them--and in my experience they just won't (if you call Ford Credit they will just direct you to the number on the lease contract).


Hi!

Understood. Appreciate the feedback. I will see if they (the dealer) makes an offer, and go from there. I am also told that if the dealer makes me pay the sales tax, then I can claim a refund from the DMV.

Regards,

GHTech


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 Post subject: Re: Lease End Options
PostPosted: Mon Jan 07, 2019 5:19 am 
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Joined: Mon Apr 06, 2015 6:00 am
Posts: 287
GHTech wrote:
jmueller065 wrote:
Well the amount of $$ Ford would want is spelled out on the lease agreement, unless they make you an offer. You really can't make an offer to them you have to wait for them--and in my experience they just won't (if you call Ford Credit they will just direct you to the number on the lease contract).


Hi!

Understood. Appreciate the feedback. I will see if they (the dealer) makes an offer, and go from there. I am also told that if the dealer makes me pay the sales tax, then I can claim a refund from the DMV.

Regards,

GHTech


If you buy the car (to then sell to Carvana), you'll need to pay sales tax.

One of the many reasons to NEVER go into a lease expecting to buy the car at the end. However, if you can make a profit in doing so, then by all means.

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 Post subject: Re: Lease End Options
PostPosted: Wed Jan 09, 2019 5:46 pm 
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Joined: Mon Jun 02, 2014 12:31 pm
Posts: 19
You're refund for the sales tax won't be from DMV. You have to go through the CA board of equalization and you basically have 10 days after receiving the title to sell the car. You can't just send a check to Cab West for the payoff either when you get the payoff amount. They make you go through the dealer and charge you the 500 lease acquisition fee, dealer doc fees, sales tax on the remaining payoff, etc.

Ford is a big pain in the ass for lease buyout or trade-in now. It didn't use to be this way before. I had a payoff of approximately 12.3 k that became 14.1 k when going through the dealers.

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 Post subject: Re: Lease End Options
PostPosted: Wed Jan 09, 2019 6:08 pm 
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Joined: Mon May 09, 2016 9:19 am
Posts: 54
longschlng22 wrote:
You're refund for the sales tax won't be from DMV. You have to go through the CA board of equalization and you basically have 10 days after receiving the title to sell the car. You can't just send a check to Cab West for the payoff either when you get the payoff amount. They make you go through the dealer and charge you the 500 lease acquisition fee, dealer doc fees, sales tax on the remaining payoff, etc.

Ford is a big pain in the ass for lease buyout or trade-in now. It didn't use to be this way before. I had a payoff of approximately 12.3 k that became 14.1 k when going through the dealers.


Hi longschlng22!

Appreciate the info. My numbers are almost exactly the same as yours. Payoff is $12,410 plus the $500 for the dealer. I think that the doc fees are limited to $80. About the sales tax, I was given the impression that one can convince the dealer not to charge as one is reselling. Getting it refunded by the BOE after the fact might be a bit messy. :-) The offer from Carvana was for $14,900. I am told that one might be able to get the dealer to lower the price, but not sure how likely. If unlikely, I just rather drop it off soon (not continue to pay insurance), and not keep it till the end of lease (Apr. 28th) as all payments have been paid already.

Regards,

GHTech


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 Post subject: Re: Lease End Options
PostPosted: Thu Jan 10, 2019 4:05 pm 
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Joined: Mon Jun 02, 2014 12:31 pm
Posts: 19
Yeah, my offer was 16.7 k. I was only maybe 10 months into my lease, but had to make room for the model 3 = ).

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