My Experience Thus Far & What’s Next

[NorthShoreMaverick]

I wanted to share my experience so far with my 2022 Maverick XLT AWD Ecoboost and what is next when my lease ends in January 2025.

Pros:
- Gas Mileage for a Truck (30 mpg avg on highway 26 City)
- Driving experience (easy to maneuver)
- Versatility of the bed
- Looks
- Fun to drive
- Price

Cons:
- Build Quality/Materials (constant squeaking from dash/windshield, hard plastics and cost saving underbody components)
- Reliability issues (have a clunk when turning at slow speeds, can’t be diagnosed, various recalls so far)
- Radio/Sync connectivity
- Sound system

The pros do outweigh the cons of this truck so far, but I have a decision I need to make before January 2025. That is because I leased the truck. The terms of the lease are 3 years 30K miles. Issue is I am way over the mileage with 8 months left at 37K.

The dealership (not the third party leasing company who I am leasing through) contacted me last month to discuss my lease end options, which I found strange this early before lease end.

I responded by telling them to contact me when the lease end gets closer.

Being that I’ll be extremely over mileage on the vehicle and the buyout price after fees would be $21K I have a decision to make.

Do I buy/finance the remaining balance of the truck at lease end or do I contact the dealer and see what they are offering?

I am a bit hesitant about the long term reliability of the truck, but do enjoy driving it.

Appreciate any thoughts on my experience so far and what’s next

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[MavChris]

Just curious to why you choose to lease over purchase on a Maverick? First issue is milage. If you are at 37k now, according to my calculations you are averaging around 1,300 miles per month. Multiply this by 8 months left and get around an additional 10,500 miles. So at lease end your looking at around 47,000 miles or 17,000 over. On a Ford lease its usually .20 per mile or around $3,400. Is the $3,400 included in the 21k buyout? How much did you have to put down at the start of the lease? How much is your monthly payment now? If you do buy it out are you going to put any cash in to make the loan amount less? Are you going to do a 60 month loan? The interest rate on a used car loan is usually higher than a new car. You will have to pay sales tax on the truck on the buyout amount. So many variables. In the end I believe that if you do buy it out that by then time you get it paid off you will have way more invested than what it will be worth. I would cut your losses on the over milage fee and pay that at lease end. If you can end the lease early, do that and save some $$ on the over milage fee. Get a new higher milage lease on a new vehicle if that's the route you want to go (your monthly payment will most likely be less than what you are paying now). Just my opinion.....do what's best for you after considering all your options.

 

[NorthShoreMaverick]

Just curious to why you choose to lease over purchase on a Maverick? First issue is milage. If you are at 37k now, according to my calculations you are averaging around 1,300 miles per month. Multiply this by 8 months left and get around an additional 10,500 miles. So at lease end your looking at around 47,000 miles or 17,000 over. On a Ford lease its usually .20 per mile or around $3,400. Is the $3,400 included in the 21k buyout? How much did you have to put down at the start of the lease? How much is your monthly payment now? If you do buy it out are you going to put any cash in to make the loan amount less? Are you going to do a 60 month loan? The interest rate on a used car loan is usually higher than a new car. You will have to pay sales tax on the truck on the buyout amount. So many variables. In the end I believe that if you do buy it out that by then time you get it paid off you will have way more invested than what it will be worth. I would cut your losses on the over milage fee and pay that at lease end. If you can end the lease early, do that and save some $$ on the over milage fee. Get a new higher milage lease on a new vehicle if that's the route you want to go (your monthly payment will most likely be less than what you are paying now). Just my opinion.....do what's best for you after considering all your options.

I decided to lease as I was not sure of the reliability of the vehicle in its first year. At the time it was difficult to find a vehicle in our price range. Our lease is $399 a month with $1000 down including a $500 rebate. I changed job locations which incurred more miles than I expected. If I buy out the vehicle I won’t be responsible for any mileage charges. $2100 includes the buyout price plus lease buyout fee of $500. Does not include any taxes. If you end the lease early they charge you a termination fee and you have to still pay any remaining balance due.
I’m guessing they will want to get me into another Ford or Lincoln which I’m not sure I want to do, as the Maverick was the only vehicle in their lineup I liked.

 

[Joe Strummer]

I would contact the Dealer to see what it can offer. Many issues with 22/23 Mavericks appear to be ironed out with 24 model. Besides, Ford may refresh the Maverick for 25.

 

[Carlitos_92]

I expect since these trucklets are still generally a hot commodity, the dealership probably sees a way they can make another buck off your MY22. Either that, or they are starting a bit early with the aggressive upsell to a 3-year lease on a more expensive Ranger/F-150. Like you say, it is way too soon. A lot can happen in 6-9 months with supply/demand. Personally I tend to not make decisions without having all the facts, so in my opinion you are right to wait.

That said, I have never leased a vehicle, and you have a better handle on your options there. I haven't priced your model, but I would "assume" your truck will still be a decent deal for $21K when you get there. I always look at and appreciate equity... I owed money on my MY23 for less than two weeks, total. I do like the idea of looking at another new Maverick, given the potential MY25 changes. Or maybe it will be ugly or missing features you wanted and you'll have to scramble to find one of the last MY24s. We won't know until we know...

Hard to argue with your pros or cons. As I told a friend just yesterday when showing them the truck for the first time, Ford very cleverly threw a lot of effort at the interior design, and made something that people really respond to: the faceted panels, the funky accent colors, the (mostly) thoughtful cubbies and storage solutions... and then they built it all out of the cheapest plastics they could get, and put zero money where you couldn't see it, i.e. underbody shielding, noise insulation, etc. My biggest pet peeve is that the interior plastics look dirty when scratched, and there is no fix that I can think of. I scrubbed and scrubbed the dark blue door panel until I realized the spot I wanted to clean was an abrasion, not a stain. I think the interior plastics will be "hard-wearing," but not gracefully.

Obviously if you keep the Maverick or buy another one outright, the stereo is eminently fixable, and you are in the right place around here to get ideas. Hell, I've had $700 worth of stuff in my Crutchfield cart since before I bought the truck, but then I will drive somewhere, and crank up the base POS, and it rattles the doors and makes the mirror shake when it wants to. I may end up just getting used to it.

Knock on wood, I am not too worried about reliability (at least, not any more than I would be with ANY Ford). At least you still have some warranty to keep getting the wrinkles ironed out for now. Good luck.

 

[MavChris]

I decided to lease as I was not sure of the reliability of the vehicle in its first year. At the time it was difficult to find a vehicle in our price range. Our lease is $399 a month with $1000 down including a $500 rebate. I changed job locations which incurred more miles than I expected. If I buy out the vehicle I won’t be responsible for any mileage charges. $2100 includes the buyout price plus lease buyout fee of $500. Does not include any taxes. If you end the lease early they charge you a termination fee and you have to still pay any remaining balance due.
I’m guessing they will want to get me into another Ford or Lincoln which I’m not sure I want to do, as the Maverick was the only vehicle in their lineup I liked.

Well, knowing this it does make the decision tougher I suppose. Right now you are already past the bumper to bumper warranty. By the time your lease ends you will have around 13,000 miles on drivetrain. See what the market is like when your lease is up. Get a Bluebook estimate (or whatever source you choose) to know what your truck is worth when the lease ends. Just for shits and grins....If you were not over milage, would you still consider buying it out or just turn it in !?

 

[NorthShoreMaverick]

Well, knowing this it does make the decision tougher I suppose. Right now you are already past the bumper to bumper warranty. By the time your lease ends you will have around 13,000 miles on drivetrain. See what the market is like when your lease is up. Get a Bluebook estimate (or whatever source you choose) to know what your truck is worth when the lease ends. Just for shits and grins....If you were not over milage, would you still consider buying it out or just turn it in !?

I was pretty set on buying it at lease end, but as I see issues continue arising I may want to try and see if the market is hot on these trucks at lease end.

 

[2lbgill]

I wanted to share my experience so far with my 2022 Maverick XLT AWD Ecoboost and what is next when my lease ends in January 2025.

Pros:
- Gas Mileage for a Truck (30 mpg avg on highway 26 City)
- Driving experience (easy to maneuver)
- Versatility of the bed
- Looks
- Fun to drive
- Price

Cons:
- Build Quality/Materials (constant squeaking from dash/windshield, hard plastics and cost saving underbody components)
- Reliability issues (have a clunk when turning at slow speeds, can’t be diagnosed, various recalls so far)
- Radio/Sync connectivity
- Sound system

The pros do outweigh the cons of this truck so far, but I have a decision I need to make before January 2025. That is because I leased the truck. The terms of the lease are 3 years 30K miles. Issue is I am way over the mileage with 8 months left at 37K.

The dealership (not the third party leasing company who I am leasing through) contacted me last month to discuss my lease end options, which I found strange this early before lease end.

I responded by telling them to contact me when the lease end gets closer.

Being that I’ll be extremely over mileage on the vehicle and the buyout price after fees would be $21K I have a decision to make.

Do I buy/finance the remaining balance of the truck at lease end or do I contact the dealer and see what they are offering?

I am a bit hesitant about the long term reliability of the truck, but do enjoy driving it.

Appreciate any thoughts on my experience so far and what’s next

Most dealers will buy it and give you the difference between buy out price and actual price for the down payment on a new one and forget about the mileage. I traded in our leased Escape with it's over mileage to buy our Maverick that way. There was a $5000 difference which they used for the deal.

 

[NorthShoreMaverick]

Most dealers will buy it and give you the difference between buy out price and actual price for the down payment on a new one and forget about the mileage. I traded in our leased Escape with it's over mileage to buy our Maverick that way. There was a $5000 difference which they used for the deal.

Gotcha just don’t know if I want to get into another Ford or Lincoln.

We have a 2013 Honda Accord Sport that has been such a workhorse car that has had no major issues over 10 plus years

Seems like Lincoln has same reliability issues..

 

[Blitz-Hacker]

So if I got the numbers right this Maverick has cost you around 33 cents a mile so far at 37K miles. It looks like your end of lease residual amount it is somewhere around $18,900 and your end of the lease fees are $2100.00 I am guessing these are fees only if you purchase? Tax?) If you finish your lease you would of paid $15,365.00 in payments and owe $2300 in over mileage. The lease would cost you $17,665.00 plus more money for condition of tires, scratches ect.. This will cost you around 37 cents a mile. If you buy the Maverick for $18,900 (residual value) and spend $2100 in fees (end of lease fees) The total you end up paying for this truck is $36,365.00. Not only are you paying over sticker but you will now be the proud owner of a used car loan at 7% interest and 3 more years of payments. The Ford dealer is probably willing to give you $25K for your truck right now today so I would go in there and say write me a check for $5000.00 and you can have your Maverick back and I do not want to pay any taxes fees or anything like that and walk away from that dealer. This way not only do you get some of your payment money back but you also have $2300 in cost avoidance (no over mileage fee and $2100.00 because no end of lease fee (if it was mostly tax on the residual) that you are not buying) The dealer is basically buying you out of your lease.
Not sure what your next car will look like but that is on you.
. BTW I have a 24 Lariat eco AWD and it is way quieter than my brothers 23 XLT and has no squeaks. It drives wonderful and I found it on a dealers lot because I got tired of waiting for my order to come in. Good luck and sorry if some numbers are wrong but you can correct using same exercise.
If you wait for the end of the lease and need to "turn in" your vehicle the dealer will act accordingly. (tough to deal with unless you lease another car and start the whole bad process over again) If you let them know that you might be willing to give up your Maverick early I am guessing they might throw you a bone.

 

[NorthShoreMaverick]

So if I got the numbers right this Maverick has cost you around 33 cents a mile so far at 37K miles. It looks like your end of lease residual amount it is somewhere around $18,900 and your end of the lease fees are $2100.00 I am guessing these are fees only if you purchase? Tax?) If you finish your lease you would of paid $15,365.00 in payments and owe $2300 in over mileage. The lease would cost you $17,665.00 plus more money for condition of tires, scratches ect.. This will cost you around 37 cents a mile. If you buy the Maverick for $18,900 (residual value) and spend $2100 in fees (end of lease fees) The total you end up paying for this truck is $36,365.00. Not only are you paying over sticker but you will now be the proud owner of a used car loan at 7% interest and 3 more years of payments. The Ford dealer is probably willing to give you $25K for your truck right now today so I would go in there and say write me a check for $5000.00 and you can have your Maverick back and I do not want to pay any taxes fees or anything like that and walk away from that dealer. This way not only do you get some of your payment money back but you also have $2300 in cost avoidance (no over mileage fee and $2100.00 because no end of lease fee (if it was mostly tax on the residual) that you are not buying) The dealer is basically buying you out of your lease.
Not sure what your next car will look like but that is on you.
. BTW I have a 24 Lariat eco AWD and it is way quieter than my brothers 23 XLT and has no squeaks. It drives wonderful and I found it on a dealers lot because I got tired of waiting for my order to come in. Good luck and sorry if some numbers are wrong but you can correct using same exercise.
If you wait for the end of the lease and need to "turn in" your vehicle the dealer will act accordingly. (tough to deal with unless you lease another car and start the whole bad process over again) If you let them know that you might be willing to give up your Maverick early I am guessing they might throw you a bone.

Appreciate the detailed response.

The MSRP on my Maverick was around 34K so yes would be paying more than sticker.

I may have to go this route. Only issue is finding a new vehicle right away.

 

[Waterick]

Gotcha just don’t know if I want to get into another Ford or Lincoln.

We have a 2013 Honda Accord Sport that has been such a workhorse car that has had no major issues over 10 plus years

Seems like Lincoln has same reliability issues..

Just remember, today's vehicles, with smaller displacement, turbo-charged, direct injected, and more fuel constrained engines are rarely the workhorse your 2013 has been no matter the brand. Add in today's connectivity and there is even more potential for problems over 10 years.

 

[tciotti2003]

And my 2022 Lariat 1st edition has had none of these issues. I bought it about 14 weeks ago and so far all is really good. Sound system kicks. No sounds like what you've described anywhere and no phone connection issues and personally I have absolutely no qualms with the plastic dash and such considering how many other vehicles have pretty much the same. Now it may be made to look nicer but in the end the amount of plastic on modern vehicles is pretty standard. And the amount of road noise coming into the cockpit is okay with me. Not in any way minimizing your experience. I just count myself lucky I haven't encountered the issues I've read here for the last 12 or so weeks

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