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Guest Message by DevFuse

Get you C-MAX Energi Registered in the official Ford Authorized Registry. More here.


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Buyout lease shortly after delivery


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3 replies to this topic

#1 OFFLINE   DappemAV8

DappemAV8

    New Member

  • C-MAX Energi Member
  • Pip
  • 2 posts
  • Region:U.S. Southern Atlantic
  • LocationOrlando
  • My C-MAX:2016
  • Current Vehicle:2016 C-Max Energi

Posted 27 October 2016 - 12:05 PM

Hello-

Does anyone have any experience with buying out their lease right after taking delivery of the vehicle...say 6 months into the lease? Just finished a deal on a 2016 Energi with the 303A and glass roof. With all the incentives offered by Ford, the price of the car was lowered to $24,250. I'm planning on keeping the car for the foreseeable future, beyond the 36 month term, and was curious if anyone has had an experience with this.

Thanks-

Darren

 









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#2 OFFLINE   ls973800

ls973800

    New Member

  • C-MAX Energi Member
  • Pip
  • 269 posts
  • Region:U.S. Great Lakes
  • LocationCleveland, Ohio
  • My C-MAX:2015
  • Current Vehicle:Replaced Ford Edge

Posted 28 October 2016 - 04:16 PM

From what I understand about a lease and buying one out, you may not be wise to do so.  If you have a 36 month lease you must make all of the payments, or one lump sum which would total any remaining payments.  If you have paid 6 months, you would still have to pay 30 months all at once.

 

Don't forget to add any money you may have put down on the car for non-refundable items such as lease inception, cap cost reduction, etc.  You will not get any of that back.

 

You would then have the option of buying the car for the purchase price which is shown on your lease agreement.  Usually that is several thousand dollars higher than what used C-Max Energ's are selling for on dealer lots. 

 

You would have to check with Ford Motor Credit to find out exactly what you total would be, in some cases there may also be a disposition fee at lease end which may be charged.


Edited by ls973800, 28 October 2016 - 05:38 PM.


#3 OFFLINE   timwil56

timwil56

    Energi Member

  • C-MAX Energi Member
  • PipPip
  • 524 posts
  • Region:U.S. Great Lakes
  • LocationMinnesota
  • My C-MAX:2017
  • Current Vehicle:Fusion SE

Posted 29 October 2016 - 07:10 AM

Also, things might change in 3 years. If you have a HVB that loses its ability to take and hold a charge, based on what's been posted here, you will be stuck with it. If you keep it longer, the value will literally be a fraction of what you have invested, unless you plan to drive it to the scrap yard at the end of its life. Beginning in 2018 or 2019, Ford will begin rolling out a new line of EV's and there will be new designs, improved battery range and better technology.



#4 OFFLINE   ahc19081

ahc19081

    New Member

  • C-MAX Energi Member
  • Pip
  • 10 posts
  • Region:U.S. Northeast
  • LocationPA
  • My C-MAX:2016
  • Current Vehicle:C-Max

Posted 29 October 2016 - 11:03 AM

I have never considered leasing before (always planned to pay cash), but there is such uncertainty about how the technology in the current generation C-Max is going to hold up, and about what will replace it in just 3 years, that we leased when purchasing this fall. I definitely wouldn't be trying to speed up the buying process yet—you won't be able to gain any financial advantage by doing so given the way leases are structured (unlike loans), and you give up the option value of being able to walk away in three years. Rates are low enough right now that that option value is being sold quite cheaply.








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