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Ford F-Series Pickup Lease Questions

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  • Hi, I'm interested in this truck: http://tiny.cc/qwf8A

    This dealer is a credit union who keeps the nice vehicles that get returned from a lease. In some cases the vehicles have been leased twice...

    My question is, what should I offer them for it? Here is my rationale.

    1. the truck has likely been paid for once by the guy who was "fleased" by the lease

    2. These vehicles will eventually be sold at auction if the credit union does not sell them

    3. These trucks have been depreciated... this one by 5 years...

    So, what should I offer? What would a truck like this fetch at an auction in Michigan? Do I have any leverage with the bank if I ask them to look at the books and see just what they need to get for it to pay off the residual value?

    I am looking for some help. I need a truck, dont want to buy new, but want some negotiating power wiht the bank who owns it..

    Please reply especially those with this kind of experieince either negotitating to buy or on the banking side of the sales business..
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,881
    I couldn't get your link to open, but it isn't really relevant, anyway...

    As far as the three points you brought up? None of that matters. Just like any other car dealer, the credit union has an asset for sale. The only thing that matters is what that vehicle is worth on the open market. Where that truck came from, it's leasing history, or anything else won't change what it's worth.

    Now.. your credit union may not be all that savvy of a car dealer, but if they are doing leases, then chances are... they know what they are doing. They may take less than a comparable used car lot, but they certainly aren't going to sell you the car for the same that they would get wholesaling it at auction.

    So... determine what the market is for that truck, decide on a price you'd be happy to pay, and go offer them a thousand less... and see what happens.

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • I find it hard to believe you leased 13 vehicles in 10 years but irregardless you should have signed for Wear Care. Wear Care would've waived any and all damages.

    Of course ANYONE who leased 13 Ford vehicles in 10 years should have figured that out after about the 3rd or 4th time of getting "cheated." Or maybe you treat your leased vehicles like you own them. Unfortunately, you do not. Lesson learned.
  • Unless you are leasing for business purposes where it cant be a write off on your taxes, nobody in their right mind should ever lease.

    I strongly disagree with you. There are many advantages to leasing. I leased a 2007 Ford Edge SEL Plus, MSRP $33K for $349 a month/ 36 months with ZERO down. I saved over $6,000 in car payments by leasing it instead of buying it. Do you honestly think I would be $6K ahead if I would've bought it and traded it in after 36 months? No chance. This is my 5th lease and I never have had a bad experience. I save at least $150 a month leasing and that really adds up. It allows me to drive cars that would normally be way out of my price range. You just have to do your homework and not be a victim of shady dealers.
  • Hello, new member here. I was wondering if Ford leases the F350. I need a duely to pull a 4-car hauler. If yes, what engine and drivetrain specs do you recommend?
    Thanx. BTW, what is the price range of the lease? I just need the bare essentials.
  • enimsenims Posts: 1
    Need help and advice. I leased a 2005 Ford F-150 FX4 package fully loaded, shortly after my wife and I seperated in Southern California. At that time, my credit was fair enough to not need a co-signer. Still payments were over $600 per month but I was making good money at a company I had been at for over 10 years. Shortly after (3 months) I lost my job. I had planned on moving back to Northern Illinois where I grew up, both the sales person and leasing manager were fully aware of this before anything was signed.

    Ok, let me just get to the point. I was unemployed for 6 months and when I got a job here, I was only able to get pretty much minimum wage with the economy. I was however able to keep up with payments. It was eating about 70% of my disposable income between gas and insurance though. I loved the truck and called the 800 number several times to explain all of this and would it be possible to opt out of the lease, and get financing to buy the truck. The 800 # told me should not be a problem as my credit with them was in great favor. Just had to go to the dealership and work it out. 3 dealerships and pretty much got the run around. The dealerships also refused to honor my lease contract.

    Out of frustration and after calling the 800# again, I turned the truck in 12 months early being told and understanding I would owe the remaining 12 months lease and an early termination fee of about $1000.00 I was ok with this. The dealership I returned it to refused it because of a defective odometer (by the way I had not driven the truck for about a year, so this is not an excessive mileage issue) I figured it may be a fuse, but was threatened by the service manager that my lease contract warranty would not cover this. It was my understanding that my no questions warranty was bumper to bumper and included tires at no cost to me. The service manager said it could cost as much as $4000.00 to fix odometer.

    Needless to say I am very disgusted at this point, the dealership did not even notify Ford for 3 weeks that the vehicle was turned in at their dealership. Turns out the odometer was their mistake, faulty something. 6 months went by till Ford sent me a bill for more than $15,000.00. I do not understand any of it, including a reposession fee, even though I voluntarily turned it in. It was in imaculate condition with low miles and about 3 years old, worth high $20k- low $30k, they however dumped it at auction for $15,000-

    I go to court for jury trial next month, please help. I can't afford a judgement for the full amount. All I wanted from all this is a fair judgement amount and after the economy situation and Federal Bailout for the automotive groups, what gives Ford the right to attack me and my credit? I live paycheck to paycheck right now, but would be willing to settle for about $4K-6K, which is more then fair with the crummy service and atitutude I received at the dealerships.

    Any help and advice would greatly be appreciated. Thanks !!

    Eric
  • Hi gekko13. Unfortunatgely, Ford hasn't provided lease support on any F-Series pickups in a long time. As a result, it really doesn't make sense to lease one. You may want to consider financing through Ford Credit instead. You can finance a 2010 F-350 at 2.9% and a 2009 model at 0% for 5 years right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • sgeddsgedd Posts: 1
    My husband is currently leasing a 2008 F150 and is due to turn in his lease in September. I was curious if Ford has any deals on a new car(or used) if you purchase a ford after returning a lease? Also he has a damaged pass side mirror and I was curious if it was worth fixing or if they wont take much off for the damage?
  • carbuyer34carbuyer34 Posts: 12
    Hi, When I turned in my f150 super crew someone had keyed both driver side doors, I was worried about what ford would charge me for the damage so I had the truck detailed before turning it in..... Funny thing is I was not able to lease another ford at a good lease rate and ended up leasing a toyota tundra from the same dealership. They were so pleased with the low miles and how clean my f150 was that they never charged me for the damage. The deals offered vary from month to month seems like timing is everything when it comes to leasing/purchasing. I recently leased a subaru impreza premium 2nd one for my son for 314.00 a month 42 months and a kia sorrento lx awd for 351.00 month 36 months both leases were no money down. Good luck on your next vehicle!
  • lwvlwv Posts: 32
    edited February 2011
    Car Man, what are the current interest rate and residuals for 15k and 13.5k on Ford RCL for F150 supercrew 4x4 platinum edition for Houston area. Also what rebates or dealer incentives apply to leases.

    Thanks
  • Here's the information that you're looking for, lwv.

    Ford Credit's current base lease rate and residual value for a 36 month lease of a 2011 F-150 SuperCrew Platinum 4WD with 15,000 miles per year are 2.5% and 56%, respectively.

    I don't believe that Ford is currently providing any cash incentives on leases of this truck right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • lwvlwv Posts: 32
    Car Man,

    Thanks for the information. This is in line with what the dealer told me. They are saying 2.25 for the interest rate so that is even better. Residual is 57% but that is for the 13.5k lease which is expected. I was able to get a great lease on this truck.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, lwv.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rman850rrman850r Posts: 14
    Carman,

    Do you have the 24/27 month lease rates for the F150 XLT 4WD and Lariat 4WD 5.0 with 15k miles per year?

    Thanks
  • rman850r,

    My name is Seni with Ford Customer Service. The information on lease rates is currently available at your local dealer, as it varies state to state. However, we would be happy to look up any lease incentives, in your local area. Please feel free to call the Ford Marketing Headquarters at 800-334-4375, at your convenience. You may also check out www.Ford.com/Incentives, for local incentives on all of your favorite Ford vehicles.

    Seni
    Ford Customer Service Division
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    rman850r, Ford Credit's current base lease rate and residual value for a 24 month lease of a 2011 F-150 Super Cab XLT 4WD with 15,000 miles per year are 1.75% and 61%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • khan95osukhan95osu Posts: 23
    how much off of MSRP are these going for now? what are current MF and residuals? Im helping a friend shop, hes looking at:

    2011 4x4 F-150 Lariat, 36mo, 15k/year, MSRP about 47500. initial dealer quote was at 833, which shoudl be higher than MSRP. Reading the buy/sale pages it looks like we should be able to get it for 8-10K under MSRP, so if MF and residuals are similar to february (2.5% and 56%?) that would brign the lease to under 500, with fees/tax rolled in. is that reasonable?

    the dealer instantly came down to 599/mo in his hard sell, but we didnt remember to ask to make sure he wasnt just raising a down payment.
  • Hi Car_man & Kyfdx:

    I have spoke with two Ford dealers in NJ and I was told they do not offer leases for F-150 SVT Raptor. Do you have any info with regards to whether Ford Corp. not allowing leasing out SVT Raptor?

    Much appreciate your input.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    khan95osu, Ford Credit's current base lease rate for a 36 month lease of a 2011 F-150 Super Cab is 3.0%.

    The residual value for a 36 month, 15,000 mile per year lease of a 2011 F-150 Super Cab 4WD is 56%.

    The prices that you've seen mentioned for this truck might be slightly low because the customer cash that Ford is providing on it right now is not available on leases.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • bgmgatorbgmgator Posts: 1
    edited May 2011
    Hi, I'm in the market for one and seem to be getting conflicting info from the various dealerships I'm in contact with.

    Any idea what the current lease rate is for a 2011 F150 Harley AWD, 12K miles, 36 or 39 mo. What, if any, incentives apply?

    Thanks!
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