Anyone buy out their lease?

[d_p]

Curious if anyone has any experience buying out their lease through Ford Credit to refinance as a purchase and care to share their experience with process? I've firmly decided I want to keep this truck for a long long time and so I am seriously considering doing that.

I've also considered just trading it in for a '25 model...

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[jeffrol48197]

Yes, I bought out my lease after 3 years and a flood of recalls - added a Premium ESP with lighting option and continue to enjoy my little truck...

 

[Oscarcat]

I have not done it. Comparison shop. Ask them [your dealer] to itemize the fees and charges before you proceed. Then check with a credit union and ask what their interest rate and your payment would be. You don't need to use Ford financing to buy out your lease. The $$$ for the buyout can come from anywhere.

On the Ford Build and Price website, there is a fee of $695 that was added to the cost summary of a '25 Mav for setting up the financing and administering the loan. It is unlikely a credit union would charge anything. Even if you purchase a '25, look at your financing options. A dealer is seldom the least expensive but it is convenient. That will co$t you.

They closed the discussion on prices increases but on my '24 Lariat hybrid compared to a '25 Lariat hybrid with my same options, but not factoring in improvements like improved standard CP360 and standard AWD on the '25 Lariat hybrid, the price increase is $4405 which is a 11.95% increase. To repeat, some of the 11.95% increase can be attributed to the additional content in a '25 so it is not an apples to apples comparison. [I removed the $695 acquisition fee when I did the '25 price comparison to the window sticker for my '24.]

So if you go for a '25 you will be financing a more expensive vehicle.

 

[d_p]

Yes, I bought out my lease after 3 years and a flood of recalls - added a Premium ESP with lighting option and continue to enjoy my little truck...

Was it a painless process? Did you go over your miles... that's one thing I'm wondering about. I'm going to go way over since we like it so much we pretty much use the truck for everything including road trips.

 

[2lbgill]

Curious if anyone has any experience buying out their lease through Ford Credit to refinance as a purchase and care to share their experience with process? I've firmly decided I want to keep this truck for a long long time and so I am seriously considering doing that.

I've also considered just trading it in for a '25 model...

I have with Ford and the price is generally the wholesale value of the vehicle on the auction block. That's the price an honest dealer gets when he washes it out (off the books) Look on your lease update the buyout price is usually listed.

 

[jeffrol48197]

Was it a painless process? Did you go over your miles... that's one thing I'm wondering about. I'm going to go way over since we like it so much we pretty much use the truck for everything including road trips.

Your Purchase Option Price was on your original paperwork - the hardest part was dealing with the interest rate, since I could've had 0.0, 1.9 or 3.9, LOL - settled at 6.49 but paying off in a 3 year plan...

 

[Maverick123]

Was it a painless process? Did you go over your miles... that's one thing I'm wondering about. I'm going to go way over since we like it so much we pretty much use the truck for everything including road trips.

IIRC if you buy out your lease, mileage doesn't matter. You only have to pay the amount that was initially agreed when you signed the lease

Mileage only mattress when you give it back because excess miles lowers the value below the agreed amount. If you buy it back it's your call if it's still worth the buyback value with the extra mileage you put on.

 

[dochawk]

here is a fee of $695 that was added to the cost summary of a '25 Mav for setting up the financing and administering the loan. It is unlikely a credit union would charge anything.

that "acquisition fee" is a lease only thing; it doesn't apply to purchases.

if you click on the financing option, and choose purchase instead of lease, the acquisition fee is gone when you return to the main page.

 

[Redline]

Leases usually charge about $0.25/mile for over mileage. That can add up to a sizeable charge at the end. It's a big no-no when leasing.

 

[d_p]

IIRC if you buy out your lease, mileage doesn't matter. You only have to pay the amount that was initially agreed when you signed the lease

Mileage only mattress when you give it back because excess miles lowers the value below the agreed amount. If you buy it back it's your call if it's still worth the buyback value with the extra mileage you put on.

Ah I will check my lease paperwork then.

So you don't pay a mileage fee if you buy it? If so that's good news. We honestly didn't think it would become our daily driver when we bought it. I only work 9 months out of the year and even then only 3 to 4 days a week so we were thinking it would be easy.

I'm also wondering about early buyout... anyone do that?

 

[Suzukiridr14]

IIRC if you buy out your lease, mileage doesn't matter. You only have to pay the amount that was initially agreed when you signed the lease

Mileage only mattress when you give it back because excess miles lowers the value below the agreed amount. If you buy it back it's your call if it's still worth the buyback value with the extra mileage you put on.

If you have"way over" mileage, the best thing for you is to buy out the lease. Not only will you be charged for the extra miles, they also have a disposal fee + charge for anything they can find damaged or worn due to the mileage. Scratches, tires, etc, Buy it, enjoy it, and run it 'till the wheels fall off! Also get a extended warranty from Granger.

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