An online Ford Focus Electric Forum discussion group

It is currently Tue Dec 18, 2018 10:55 am

All times are UTC - 8 hours




Post new topic Reply to topic  [ 2 posts ] 
Author Message
PostPosted: Tue Dec 04, 2018 1:29 pm 
Offline

Joined: Tue Mar 14, 2017 1:11 pm
Posts: 1
I am moving to a new country and will be forced to part with my beloved 2017 FFE. I am 1.5 years in to my 3 year lease. I would like to buy it out (~$15,000) and resell it. Since the rebate in Ontario is gone, used electric vehicles have good resale value.

I was told by my dealership that, in regards to the incentive that was applied to my lease terms, there "may be ramifications to the incentive due to early termination". He said the dealership may be charged back a portion of the incentive, which he would have to charge me. He was not sure of any of this, however. He also suggested I just transfer the lease. It is not in his best interest for me to buy it out because the dealership doesn't receive the vehicle back at the end of the term (which they could probably resell for a margin).

The terms of the government incentive state that if you purchased your vehicle, "you must keep your electric vehicle registered and plated under your name, insured and roadworthy in
Ontario for a minimum of 12 months from the date the vehicle was registered and plated."


The terms state "If you leased your vehicle you are eligible the full incentive if your lease term is a minimum of 36 months or longer. If you do not meet this requirement, you must repay the entire incentive."

I'm not sure where I fall in regards to keeping the incentive. I've HAD the vehicle for over a year, but technically haven't OWNED it for over a year. Any thoughts?


Top
 Profile  
 
PostPosted: Thu Dec 06, 2018 5:16 am 
Offline

Joined: Mon Apr 06, 2015 6:00 am
Posts: 283
DjNateyD wrote:
I am moving to a new country and will be forced to part with my beloved 2017 FFE. I am 1.5 years in to my 3 year lease. I would like to buy it out (~$15,000) and resell it. Since the rebate in Ontario is gone, used electric vehicles have good resale value.

I was told by my dealership that, in regards to the incentive that was applied to my lease terms, there "may be ramifications to the incentive due to early termination". He said the dealership may be charged back a portion of the incentive, which he would have to charge me. He was not sure of any of this, however. He also suggested I just transfer the lease. It is not in his best interest for me to buy it out because the dealership doesn't receive the vehicle back at the end of the term (which they could probably resell for a margin).

The terms of the government incentive state that if you purchased your vehicle, "you must keep your electric vehicle registered and plated under your name, insured and roadworthy in
Ontario for a minimum of 12 months from the date the vehicle was registered and plated."


The terms state "If you leased your vehicle you are eligible the full incentive if your lease term is a minimum of 36 months or longer. If you do not meet this requirement, you must repay the entire incentive."

I'm not sure where I fall in regards to keeping the incentive. I've HAD the vehicle for over a year, but technically haven't OWNED it for over a year. Any thoughts?


Do NOT speak with the dealership regarding this. It's none of their business. Contact Ford (or your leasing company). They will be the ones with the appropriate knowledge.

_________________
2015 Magnetic FFE (aka Magneto) - Retired
2017 Kona Blue FFE (aka King Kona) - Current


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 2 posts ] 

All times are UTC - 8 hours


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
© Ford Focus Electric Forum - part of the MyElectricCarForums.com Group