Jump to content

Lease question


Recommended Posts

Hey everyone, sorry if this has been asked before but hoping someone has some information. I have 3 year lease on a 15 Edge that ends this December. It's a 12.5k mile per year lease and I am only at 21k miles with 8 months to go, I will be under my miles limit by probably 10k. Does Ford allow leases to be turned in early that are in very good condition and under miles? I am looking to get a new 2019 Edge.

Link to comment
Share on other sites

I turned in my last lease (2013 MKZ) three months early (March 2016 vs. June 2016), which I understand is the normal limit on the amount of time you can turn in your vehicle early. I inquired just recently (earlier this month) about terminating my current lease (2016 MKC) earlyas much as a year earlybecause I was contemplating buying another Lincoln (maybe BL MKZ) but was told I could not. I dont know if my experience is typical. My current vehicle is only the second time I have leased.

  • Like 1
Link to comment
Share on other sites

Hey everyone, sorry if this has been asked before but hoping someone has some information. I have 3 year lease on a 15 Edge that ends this December. It's a 12.5k mile per year lease and I am only at 21k miles with 8 months to go, I will be under my miles limit by probably 10k. Does Ford allow leases to be turned in early that are in very good condition and under miles? I am looking to get a new 2019 Edge.

Also depends on trade in value. If you have equity in it you can trade it in at any time and the lease term and mileage is irrelevant.

 

Good luck!

  • Like 1
Link to comment
Share on other sites

I dont think its that simple with a lease.

Not sure from ford but Honda worked that way. Had a civic lease and quickly released it was a horrible vehicle and got rid of it after 6 months.

 

 

The lease states a projected value each month. No different than a regular loan where you either have equity when you trade it off or negative equity.

Edited by blazerdude20
Link to comment
Share on other sites

Not sure from ford but Honda worked that way. Had a civic lease and quickly released it was a horrible vehicle and got rid of it after 6 months.

 

 

The lease states a projected value each month. No different than a regular loan where you either have equity when you trade it off or negative equity.

That might be a Honda thing. The only thing Ive seen on my lease is the value at the end of the lease.
Link to comment
Share on other sites

  • 4 weeks later...

That just means Honda allowed you to do a trade in at any time during the lease. Ford and most other mfrs do not until you’re within the last few months.

 

You couldn’t have taken that Civic to a Ford dealer and traded it in.

 

I did just that, and bought a Focus Hatch. :)

 

 

The financing company just wants to get their money out of the vehicle. They could care less if you trade it or sell it... only if you turn it in. There is a distinct difference in the contract.

Link to comment
Share on other sites

you can turn it in as early as you want but you are still liable for the remeining payments UNLESS trade in value is greater than the payoff ( doubtful ) the only other alternative is to wait until you are three months from lease end and do an early bird , but that requires purchasing another Ford. These rules are NOT dealer specific.....

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...