arbywon
Posts: 4
Joined: Tue Apr 01, 2014 8:04 am

End of lease? What are you doing?

Mon Dec 26, 2016 10:11 am

My 2014 lease is ending late March. My buyout is $16,200. I will have 12,000 miles on a pristine car.

We are both retired so to and from is no longer an issue. My wife and I share the car for around town. We have an Infiniti for longer trips and when we both need a car. I don't think we have ever gone more than 30 miles in a day in "Sparky" so current range is more than adequate although my honey still has range anxiety during the winter months. We actually like the car quite a bit and would consider keeping it. Still $16k+ seems like throwing money away when trade in value is less than half that.

It seems my options are:

1. Pay a lot and keep the car.

2. Lease a new FFE.

3. Turn it in and get something else.

What are you doing and why?

michael
Posts: 1113
Joined: Sun Sep 22, 2013 9:55 am
Location: Los Angeles, CA

Re: End of lease? What are you doing?

Mon Dec 26, 2016 12:06 pm

Definitely don't pay $16K. If you can get a pristine for half that, maybe OK.

I would either get a super-cheap lease on a new car (2016 FFE? Spark? Fiat? Leaf?) or get a Volt or Bolt. Little reason to get an 80 mile car today unless you can deal with it (sounds like you can) and it's almost free.

Fiat is advertising, for example, $149/month plus $2k due at signing. If you're in California, for example, the state $2500 will more than repay the upfront, your TCO maybe $6k over three years. I imagine similar deals available on other 80 mile cars.


I'm getting a Bolt for sure.
2013 FFE Returned after 3 years with 52,000 miles and battery down to 15.2 kWh
2014 Volt returned with 43,000 miles
2014 Volt 26,000 miles
1967 Corvette 427
1962 Corvette 327
Awaiting a Bolt

Robert123
Posts: 59
Joined: Wed Sep 21, 2016 10:31 am

Re: End of lease? What are you doing?

Mon Dec 26, 2016 2:27 pm

I paid 12.5 for a 2015 with 3k miles on it. 16 is way too high. Good chance they'll make you a very good deal if you negotiate.
2015 FFE "Orphan"
Adopted October 2016 w/ 3k miles

jmueller065
Posts: 2386
Joined: Tue Feb 12, 2013 4:36 am
Location: Southeastern MI
Contact: Website

Re: End of lease? What are you doing?

Mon Dec 26, 2016 4:40 pm

Note that if you lease a new one you'll be getting a 100 mile car, not an 80 mile car (not a lot but it may be significant).

When I turned my lease in I leased the C-Max in my signature.
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/

EVA
Posts: 874
Joined: Tue Aug 06, 2013 9:10 pm
Location: Chicago Area

Re: End of lease? What are you doing?

Mon Dec 26, 2016 10:54 pm

What a great question Arbywon.

I can tell you what I did.

We faced almost the same situation as you do. I'm retired. My wife will retire in six months. Our FFE lease was up a few weeks ago. I struggled forever on what to do. The big problem was absolutely needing a car for a six month commute for my wife.

I spent months researching what to do. Went through all kinds of scenarios. And fortunately, nobody was offering any kind of good lease at the time. I was super close to leasing a BMW i3 - the dealer just couldn't figure out how to get the numbers right.

My final position was turn the leased car in and buy a used FFE. We will just drive the new car into the ground - when the battery dies, well that's life, four or five years from now. In the meantime, I have a car I absolutely love and love to drive.

Here's what I found - Ford dealers have a good number of used FFE's. Except they price them at outrageously high numbers. In Chicago area, $12,000 wasn't uncommon for a 2012 or 2013. I found a used car dealer that does very strange cars. He had a 2013 FFE for $8,500. I bought it. Cash money, no stinking lease or loan, just bought the thing. Easiest purchase I have ever made. And because I have AAA with the RV addition - I had the car flat bed towed to my house. Made things even easier.

If you are retired, put no miles on the car, and have a long distance car - there's no need for a longer range car, or a brand new one. Just find a good solid California FFE used. There are plenty of them on the market. And only pay in the $8,000 range. And by the way - get rid of that ICE Infiniti, and go buy a Tesla. You deserve a retirement present.

You really don't care about the mileage. The only real concern is tires - you'll probably have to buy a new set. Other than that - buy the used car. I wouldn't recommend a newer FFE. You want one that has lived three years on lease. A newer car might be a lemon buy out. For that $8,000 you will get the best darn car in the world, that won't cost you a dime in maintenance (besides the tires) and it will last you at least 4 more years. $2,000 a year for a car - darn that's good.

That funky used car dealership, they had Leafs and electric Smart cars - in Chicago. Go figure.

There is almost a 100% chance that Ford won't negotiate that end lease buyout number. It isn't up to your dealership - it is up to Ford on what they do. We asked many times, there was absolutely no budging on that contract price. None. So they took a nice FFE off to auction and got 1/3 of the residual price. I'm guessing they also get a big old tax break on losing money on the deal. So that's why they don't negotiate.
2014 Platinum White FFE (Turning in mid Dec. 2016 25,000 miles)
2013 Ingot Silver FFE
2012 Titanium ICE Focus
2014 Tesla Model S 85

arbywon
Posts: 4
Joined: Tue Apr 01, 2014 8:04 am

Re: End of lease? What are you doing?

Sat Dec 31, 2016 9:46 am

So here's what I did:

Used FFEs are limited in the Chicago area so dumping my pristine FFE and buying someone else's to save $4k or less didn't make sense to me. BMW i3's are way to expensive. Bolt and some others are not available in this area.

I ordered a 2017 FFE!

fbitz777
Posts: 172
Joined: Mon Jul 14, 2014 6:05 am
Location: Wexford, PA

Re: End of lease? What are you doing?

Sat Dec 31, 2016 4:34 pm

Did you lease or buy this time? I'd assume that based on your experience you leased again and the leases are still great (like around 200/mo)

Congrats on going to 2017! My dealer has still not been able to find a way to order one.
2014 FFE ..replaced with a 2016 FFE by Ford. Loved it...sold early 2017
2017 Tesla X75 2017 Bolt EV Premier

EVA
Posts: 874
Joined: Tue Aug 06, 2013 9:10 pm
Location: Chicago Area

Re: End of lease? What are you doing?

Sat Dec 31, 2016 8:44 pm

Thanks for posting what you did.

Are you getting a brand new 2017 with the larger range and CCS charge port? Be sure that's what you are getting - there are 2017 cars that do not have the new battery.

By the way, I just randomly hit the FFE used car market search in Chicago, there are a ton of cars now available. Way more than a month ago when I was looking. Not sure how you searched, but you missed about a dozen out there. Including at least one California car.
2014 Platinum White FFE (Turning in mid Dec. 2016 25,000 miles)
2013 Ingot Silver FFE
2012 Titanium ICE Focus
2014 Tesla Model S 85

Jamez
Posts: 100
Joined: Sun Jun 12, 2016 5:26 am
Location: Toronto, Ontario

Re: End of lease? What are you doing?

Tue Jan 03, 2017 6:43 am

EVA wrote:...there are 2017 cars that do not have the new battery...

Yikes. Where/how have you seen this? How can one tell (other than a draw-down test)
Jamez

---------------
https://www.facebook.com/myevlife/

2016 FFE Kona blue
2006 MINI Cooper S JCW
2005 MINI Cooper S JCW
2011 Volvo S80

triangles
Posts: 1056
Joined: Tue Aug 16, 2011 11:40 am
Location: Toledo, Ohio

Re: End of lease? What are you doing?

Tue Jan 03, 2017 12:09 pm

Jamez wrote:
EVA wrote:...there are 2017 cars that do not have the new battery...
Yikes. Where/how have you seen this? How can one tell (other than a draw-down test)
+1 I don't see it even as an option to not have the CCS or 33.5kWh battery???
2014 Blue Candy FFE
http://www.fuelly.com/car/ford/focus/2014/triangles/303811 (since this forum doesn't allow BBcode in sigs)

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