TinPony

If your on a 3 year lease and plan to turn the car in. the only wear protection you need to spend for , is regular oil changes..

Stroken97

It like gambling and Ford owns the house. Most likely you lose and they never have to fix anything outside of the basic warranty. I wouldn't waste the money. Also, modding a leased car???

callahan

No for a car you are buying and absolutely no for a car you are leasing.

Orion_240

If I understand correctly you aren't buying an extended warranty, but a SERVICE CONTRACT, right. I got one and think that it might be a good idea for someone who puts a lot of miles on his car. Mine pays for all oil changes and scheduled maintenances. Just had the 15,000 mile one done without a penny out of pocket.
Just try to see if they will give you a rental car each time. That would make it a good deal, because you will probably need lots of warranty work done on your Ford and Ford isn't giving away rentals for just a few days anymore. Once those rattles start, the parts go bad, etc. you just wait until it's time for another oil change and then have them do warranty work at the same visit!
I had to shell out $150 for 4 days rental to have them "fix" my rattles and they are back already.

fairlane292

And modding a lease car is like putting on 25k mi a year. You are painting yourself in a corner for a buyout that you won't want. What are you gonna do with a box full of used mod parts three years from now? You didn't have the financial means to buy the car then you shouldn't be making financial blunders now on this leased car. Just drive and enjoy as is; save your money and buy a 2010 new generation stang. Is that so complicated a plan?

SlowHand

Once again, thank you so much for the wide range of opinions.

It's not that I cannot afford to buy the car; I just chose to lease because of the depreciation. It is quite possible that I made a mistake modding a leased car but the mods are not extensive, maybe 2gs worth (I'm in the UK for Xmas and have no dollar symbol on this PC!) and I guess that will be it; no louvers, no short-throw mod, nothing else I might have done if I owned the car. If I love it as much as I expect to I may well buy it at the end of the lease but, again, I acknowledge that they've got me there, too, as the buyout price is too high. I can eat 2gs-worth of mods over three years, especially as they are performance-related and will affect my enjoyment of the car immensely.

Orion, I take your point. I've chosen not to do the maintenance and service plan for the moment but, like everything else, it's a gamble. What I do know is that the service rates are likely to be a relief to me after having owned (not leased!) a BMW 540i for the last ten years. Great car but in the end I couldn't so much as drive past the service center without reaching for my checkbook! BTW, your Stang looks great in that blinding shade of yellow!

fairlane292

????????????? meaning... you would buy a Corolla but lease an American car? btw, isn't depreciation major on BMW's? They cost a fortune to buy and as far as I know the used market is very soft, nothing even close to Toyota, Honda, Nissan. The one week depreciation on a new BMW must be huge, the three year has to be very significant (not that I follow that line).

You'd have to show me the comparison math to convince me that the lease is the better deal. Not many loans are for 3 years but do the comparison math on a 4 year lease and a 4 year loan. If you take good care of the car, after 4 years on the loan you own the car (equity), on the lease equity = 0. You can't tell me that the monthly payment differential over the 4 years will even come close to that equity value at the end of 4 years. Sorry I assumed you couldn't afford to buy, I just cannot understand w/o seeing the math that if one can afford to buy this car they would see a financial advantage to leasing it.

Even do a 3 year comparison if you want, assume 5 or 6% on the car loan, if you have an excellent credit score you can balance xfer most of it to Discover Card for 0% for the life of the loan. Maybe you have already done the math, if so please share it. Most stang owners run them 12k or less so why aren't we all leasing instead of buying?

Gotta see the numbers. Anyway sounds like you are done with mods, good move.