GHTech
Posts: 57
Joined: Mon May 09, 2016 9:19 am

Lease End Options

Mon Oct 01, 2018 11:48 am

Hi!

I tried searching for an answer, but did not see anything conclusive. I have a Ford Lease of a 2016 Focus EV (leather) that ends Apr. 2019. It would have about 17,000 miles on it at the end. I got it for $225 per month with $0 down. If I want to buy it, it would be $12,900 plus the fee of about $500. Which I don't think is worth it. I was thinking of try to sell it to Carmax, or some place like that. But, when I called Ford Credit, they said that I cannot do that. What has your experience been?


Regards,

GHTech

campfamily
Posts: 438
Joined: Tue Apr 21, 2015 8:07 am
Location: Southern California

Re: Lease End Options

Mon Oct 01, 2018 3:12 pm

To sell it to CarMax (or to anybody else), you would have to buy the vehicle out from the lease, take title, then sell it back. Depending on the state you live in, you will also likely pay sales tax on the $12,900 (where I live, in California, I would have to pay sales tax). Question is, would Carmax give you enough to make you whole? I kind of doubt it, but I could be wrong. Based on that, I wouldn't buy out the lease unless I planned on keeping the car.

Keith
GONE - 2015 FFE, Magnetic with leather interior, debadged & tinted
38,500 miles (since May 2015), average 246 Wh/mile

REPLACED WITH - 2018 Tesla Model3, LR RWD, Obsidian Black
11,000 miles (since Nov 2018), average 235 Wh/mile

GHTech
Posts: 57
Joined: Mon May 09, 2016 9:19 am

Re: Lease End Options

Mon Oct 01, 2018 3:17 pm

Hi Keith!

Thanks for the info. I am in So. Cal. as well, so it does not make sense to do that.

Regards,

GHTech

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

Re: Lease End Options

Mon Oct 01, 2018 4:30 pm

Yep pretty much anything except walking away from it or keeping it for a long time will be a money loser. Looks like the E+Leaf and many other much longer range options will be available about the time you turn it back in.
2014 Blue Candy FFE
http://www.fuelly.com/car/ford/focus/2014/triangles/303811 (since this forum doesn't allow BBcode in sigs)

scottt
Site Moderator
Posts: 312
Joined: Mon Apr 06, 2015 6:00 am

Re: Lease End Options

Tue Oct 02, 2018 3:42 am

GHTech wrote:Hi!

I tried searching for an answer, but did not see anything conclusive. I have a Ford Lease of a 2016 Focus EV (leather) that ends Apr. 2019. It would have about 17,000 miles on it at the end. I got it for $225 per month with $0 down. If I want to buy it, it would be $12,900 plus the fee of about $500. Which I don't think is worth it. I was thinking of try to sell it to Carmax, or some place like that. But, when I called Ford Credit, they said that I cannot do that. What has your experience been?


Regards,

GHTech
Yep, unfortunately not worth it to keep.....

You can always negotiate with Ford on a final buyout, but you'd have to get many many thousands of dollars off to make it worth it.
2015 Magnetic FFE (aka Magneto) - Retired
2017 Kona Blue FFE (aka King Kona) - Current

Fat Focus
Posts: 41
Joined: Mon Jun 04, 2018 2:58 pm

Re: Lease End Options

Tue Oct 02, 2018 6:09 am

The last thing the leasing company wants is the car back. They're in business to collect checks, not sell cars. When the lease was up on my F250 I called them and told them it wasn't worth what they were asking, but I offered a lower amount and they accepted. They wanted $19k and I ended up giving them $15k. I saved $4k in a fifteen minute phone call.
2018 Focus Electric
2013 GT350 Supercharged Widebody Convertible
1999 F250 7.3 Crew Cab 6-Speed 4x4
1964 Falcon Convertible 289 4-Speed

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

Re: Lease End Options

Tue Oct 02, 2018 6:20 am

Fat Focus was Ford Credit your leasing company? I was under the impression they didn't care whether or not you bought it at lease end as they could write off any loss as the vehicle went to auction.
2014 Blue Candy FFE
http://www.fuelly.com/car/ford/focus/2014/triangles/303811 (since this forum doesn't allow BBcode in sigs)

carbuff
Posts: 55
Joined: Mon Aug 20, 2018 7:59 am

Re: Lease End Options

Tue Oct 02, 2018 8:15 am

triangles wrote:Fat Focus was Ford Credit your leasing company? I was under the impression they didn't care whether or not you bought it at lease end as they could write off any loss as the vehicle went to auction.
When I bought my 2013 used, it was a lease return. The name of the leasing company was Cab East LLC of Atlanta, GA. Im told that this is the name that Ford uses for their leases. In CA it might be Cab West LLC. Something like that. I think they are shell companies set up by Ford.

Fat Focus
Posts: 41
Joined: Mon Jun 04, 2018 2:58 pm

Re: Lease End Options

Tue Oct 02, 2018 1:51 pm

Sorry, it was fifteen years ago. I don't remember who it was through at that point.
2018 Focus Electric
2013 GT350 Supercharged Widebody Convertible
1999 F250 7.3 Crew Cab 6-Speed 4x4
1964 Falcon Convertible 289 4-Speed

GHTech
Posts: 57
Joined: Mon May 09, 2016 9:19 am

Re: Lease End Options

Sun Jan 06, 2019 11:39 am

Hi!

As stated, I have a 2016 Ford Focus Electric which the lease will end in Apr. If I want to buy it at that time, it will be $12,900 plus tax, etc. I checked the offers from Vroom ($11,250) and Carvana ($14,908) for it. Ford Credit says that I need to go through a Ford Dealer. I am told tax (CA Sales Tax) and registration needs to be paid to the dealer. Any suggestions?

I already picked up the replacement (Honda Clarity Electric).

Thanks,

GHTech

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