Ford and Leasing
 

Many of my past cars I have leased and though I considered getting a 2010 GT500, they would not lease me the car (with the 2011 GT500 coming with more power and 100 lbs less I'm glad I didn't anyway).

However, I would love to lease the new 2011 Mustang GT with the 5.0
I've owned 3 F-Body 5.0's (ok really 4.9's) all 3 late 80's versions, but they were new when I had them.
I'd love to have another soon.

I read a month or so ago Ford advertising leases on 2010 Mustang GT's.

So how's leasing with Ford?
Any issues?

How is Ford if you want to GET OUT of the lease? Is that an easy proposition?
For instance, with my BMW's, it's cake.
Just find someone who is willing to take over your payments.
BMW runs a credit check on them, if BMW approves them, they send out some paperwork, you sign it, they sign it, and once notorized and sent back to BMW, it's a done deal.
Guy comes over picks up the car from you and takes over your lease payments.
You are no longer responsible for the car, your name is no longer on the lease, period.

Is Ford like this? Or do they not allow you to get out of your leases and keep your name attached to the car for the entire lease period regardless?

Thanks for your help.

To be honest I dont know. The best way is to walk down to your local Ford and ask the questions to them. They work there so they should know the RIGHT answers as apposed to us guessing...

Matthew

Well I wasn't hoping anybody would be guessing in their response.
I was hoping somebody who has leased recently through Ford who may of had somebody take over their lease could answer my question.

I avoid the dealers pretty much at all costs.
Even the finance guys are on commission so you can NEVER trust them to give you a fully truthful answer, as they want to "sell" you the car (and many other things) too.

I could call Ford finance themselves, but again, was hoping to get a first hand experience response from somebody outside of a Ford employee.

Thanks

no experience with leasing from ford but after seeing the deal my g/f got when leasing her toyota and the deal my buddy's dad got when he leased a crystler, you better go to the dealership with the biggest bottle of anal lube you can find because when you lease a car, you get raped by a 20" d*ck. only an idiot would lease a car

Umm, I've leased several cars.
Most cars these days are leased.
There is a great financial reason (taxes deductions) for leasing.
Look into it before making inexperienced comments like you did above.

lol, i bet you own a time share too


the couple hundred a year saved in taxes cant justify the fact that after your lease is up you have nothing to show for it. yet after paying off my truck i can drive it for 10 years and its resale will still be way higher then the tax cuts you got while leasing.

so with that said, i will continue giving advice based on experience and common sense so please look into before making incompetent comments like above

"Most cars these days are leased." WRONG!!!!!!!!!!!
"There is a great financial reason (taxes deductions) for leasing." WRONG!!!
if you put in your businesses name i somewhat agree. but as an individual deductions for lease payments went away in the mid 80s!!

You guys are missing the point completely.
Go to a BMW dealership, a Mercedes dealership, or any other mid to higher end car dealership and ask them what most of their "sales" are leases or purchases. When I lease both my 335i's, the finance guy told me as of a couple years ago that 60% of their car "sales" were leases. I was told a similiar % back in 2005 when we leased our Infiniti.
Sure nobody leases Kia's or Ford Focus, but owners of lower end cars (under $30k) don't have the knowledge of most owners of mid to higher end cars have, otherwise, well they'd have better jobs, better incomes, better cars and most likely be leasing. ;)

Oh and who the heck wants to drive the same car for more than 3 years anyway.
Maybe you should save your ignorant commentary until you understand the benefits of leasing in full.

Ask a few million home "owners" these days how the benefits of ownership has worked out for them.
As a home owner myself (a person who knows how much money it costs to OWN a home....property taxes, interest rates, upkeep, etc) and a business owner and a guy who understands the benefits of leasing/renting in certain occasions and buying in others, your comments are just funny and ignorant.

Again, if you don't or can't answer the questions in the OP, save your typing time for another thread, thanks.

they probably just told you that cause they were trying to get you to lease the car LOL


seriously tho, all joking aside, as far as customer service will be, im sure itll be just as good as any other dealer. Ford, just like all others is fighting to earn/keep your business and will do what it takes to do so. as far as the deal youll get goes, like stated above, you need to go to the dealer and ask. the reason for this is because we dont know where you live or how the economy has been hit there. if the dealer in your area is struggling for business your going to get a much better deal then if you went to a dealer thats thriving. i can say that if you go in there with confidence and dont easily back down, your going to get the best deal possible.

Agreed with 13 completely all around on leases. I think it's stupid and I doubt that's anywhere near true about more leases than sales. I've been working at a Ford dealer for about a year and I've never heard ANYTHING about anyone leasing anything, but you're always hearing about selling things. And that really kills your argument about the high end cars because when one of them goes everybody always hears about it and they're never leased. Shelby, Taurus SHO, King Ranch, Harley Davidson, they're always bought not leased.

Anyway though, just go to the dealer to ask about it. Yea, they're salesmen, but that doesn't mean they're gonna straight up lie to you. Just ask them what happens if you decide you want out of your lease and anything else you want to know, they'll let you know how it works with Ford.

I'm not far from you. :)

I am not worried about the deal, just about how Ford financial is about getting out of leases.
See, one of the reasons I often lease is because I don't keep cars long.
My current fun/toy car, my Subaru WRX, I've had for 7 months.

If you buy cars and decide to sell them in 1-2 years, you take a beating on depreciation.
When you lease, you can put little to no down. Just make the payments (which is less than purchase payments) and then when I'm tired of the car or want another, can just have somebody take over the lease payments and I'm free and clear of the car.
However, I learned some manufacturers don't treat leases very well and make it very difficult to get out of a lease (Infiniti) hence the reason I'll never lease (or probably buy) another Infiniti.
BMW on the other hand is a piece of cake, and absolute beauty when it comes to leasing and getting out of your lease. They therefore will earn my business again in the future.

But in any case, I'll contact Ford financial and see if I can get a straight answer out of them. I was just hoping for a leasee to chime in and give me a first hand account.

I'm the Finance Director at a Ford dealership, but since you have such a sh!tty attitude, you can call Ford and figure it out yourself.
:D

Leases only really work on cars that have decent resale/residual value.
Basically no Ford does, even the "rare" GT500 doesn't have the best resale compared to other "rare" cars.

Again, for the past 3 years I've had 2 BMW's and spent an awful lot of time around the BMW and Mercedes AMG crowd. Most lease.
But again, nobody is forcing you guys to believe anything other than what you want to believe.

Trusting a "finance director's" word from a stealership?? "Finance" guys at the stealerships are on commission too and therefore are salesman as well. And we all know how smart it is to trust a salesman. Hence the reason I stated in the prior posts I didn't want a Ford employee's response. You sales guys crack me up.
Bet you wish you'd of leased your 2010 Mustang GT right about now huh? So you could swap it out for the 2011 without taking the beating on depreciation you'll take since you bought yours. ;( jab jab
Gotta mess with you a bit since you think I have a sh1tty attitude. :D

I hope you didn't get your 2010 in December same time you joined here.
Welcome to the boards.

i was the finance manager for a dealership for several years. i am no longer in the business so i really do not have a dog in this fight. however, the reason the dealerships love to lease cars is because they can charge the lease company about 125% of the list price for the car!!! then they make about twice the profit they would make if they sold the car!! so you yuppies keep drinking the koolaid and leasing those beemers!!!:icon_deal:

Mr. Driver... I run the Dept., so the small amount I'd make on a deal wouldn't be worth dealing with you, I have no need to lie, I've offered to help several folks here, with nothing to be gained on my part.
Have a great day, and continue to bash the majority of users on the board.
:)
Apparently we aren't all as smart as you.
:icon_special:

you are 100% correct sam. a lease is not hardly worth messing with for the finance man!!

Well I ain't no yuppie. But getting out of a 36 month lease when you are say 12 months in, without losing thousands of dollars in depreciation, is pretty cool.
You buy a $50k car and decide you want out in 12 months, you take $7-10k hit. No thanks.
If that's being a "yuppie" (good 80's term btw, haven't heard that one in a long time), then I guess I'm one. Oh and BMW's are pretty cool too. Drive one, own one, lease one. If you don't like it afterward, you don't like driving. Unlike so many other marketing slogans, BMW's is quite true.

You seem angry Sam. Is that because you work at a car dealership or is that because you bought a 2010 Mustang GT only right about the same time Ford officially released the details on the 2011, and since you bought the 2010 Mustang, you know you'll take it in the rear if you try to sell it to get the 2011? ;) :D
Lighten up man, maybe get a job as an insurance salesman instead of something, you won't have to worry about appreciation and depreciation that way, and what makes more sense

There is an old, wise and accurate financial saying of:
"buy what appreciates, rent what does not."
Guess what, with the rare exception, cars do not appreciate.
Would you buy a house if you knew that with the rare exception over the history of time, houses 99% of the time depreciated in value?
No of course not, that would be terrible financial decision.
People BUY houses because over history (again with the rare exception like say the last 3 years) houses APPRECIATE and make them money over time. Cars do not do that for people.
There's an awful lot of millionaires who can easily afford to buy cars, but lease, there IS a reason for that. See above for one of those many reasons. ;)

Since my original question has not been answered and though it's been a bit entertaining having some fun with a couple of you, this post is no longer relevant or helpful for me, so moving on here.
Have a good night and lighten up a bit, you got so agro over nothing.

I love my job, I've been in the business for over 15 years, and I have a great attitude. I think yours sucks, personally. Need I remind you how you've insulted the intelligence of everyone here who didn't lease a car? Many of us modify or personalize our cars beyond what is allowable for a lease, or drive too many miles.
Perhaps you should come down off your high horse, and not take everything so seriously.
If you hadn't have come off like such a d!ck, I would have been more than happy to give you an honest answer to your question. I didn't get to my position by lying to people.
Thanks, have a great Easter.
:)

Why would you commit to a 3 year lease if you bore within a year? Just asking!

OK, I know I said I was going to move on, but I felt I need to answer this.
Sam, I was just fin with you a bit man. I am not questioning the love of your job or your trustworthiness. I was just pullin on your chain.
Do you really think I lease every one of my cars?
I wasn't insulting anybodies intelligence. I was jabbing back at you and those who implied I was an idiot for leasing.
Sure there are some benefits to owning a car, but your response of "driving too many miles" is not one of them.
Do you think driving high miles on a car you own comes for free?
The more miles you put on a car you own, the less it's worth, the faster it's out of warranty.
You can "buy" extra miles on a lease car for often .10-12 a mile (sometimes less), which is FAR less than what it costs you per mile when you own the car.

As for mods, I mod my leased cars too. It makes no difference in that regard. You just take the mods off and sell them before you turn the car back in. In that regard, it's zero difference than if you own.

No lease that I've said does not say you are not "allowed" to modify or personalize the car as you put it. In some cases, you just need to return it to stock upon turning it in. Other mods, personalization, etc they do not care about. Only if it devalues the car.

The other beauty of a lease is minor damage. Leases allow some minor damage (door dings up to the size of a quarter), rock chips, minor scratches, etc).
When you own a car, those COST you in resale. People will talk you down for that damage. In a lease, you just turn it in and it's not your worry, issue or cost.

But again, chill bro. I have owned over 2 dozen cars, and have leased probably 10-12.
My point was simple, I wanted to know how Ford was with their leases, I was not asking people to say I was stupid for leasing. Not only was that pointless of them to say, it showed they do not have a full grasp of the benefits of leasing.

Have a good Easter too.


Cars are like women for me, I like a good variety. And my wife understands in both circumstances. :D ;)

Why not a one year lease would be my question!

I never doubted your initial reasons for posting, sir. I took offense to your bashing of folks who don't lease. I've had more cars than I can count, literally, in my 40 years on this planet. It is quite difficult to take a cam/heads setup, gears, or stroker motor and a Spec stage 3 clutch out of a car, just for the sake of leasing it. Re-read your initial posts, where you bag on those who don't lease, and see if you don't sound a bit d!ck-ish.
It's ok to admit you are wrong once in a while. It's what separates the men from the boys.
:D

I think most people's main problem with you was that you acted like everyone else here is a bunch of idiots and like no one that works for Ford(and it seems to me so far like a pretty decent amount of people on here, including me, do) can be trusted and then kinda that their lives pretty much suck and that it sucks to work at a dealership... Which was kinda weird.

Cuz in a one year lease you are paying for the year with the biggest depreciation. They'd nab you for say $900 a month on a $50,000 car
With a 3 year lease, you'd pay maybe $600 a month.
You'd save the $300 a month (or say $3600 in that year).

With cars manufacturers that allow you to get out of the lease early with only a $500 lease transfer fee, you'd pay $3,100 less for that car during that 12 month period.
In that same 12 month period, if you bought that car, you'd pay the $850 a month payment for 12 months, plus the 8-9% sales tax on the complete $50,000 and then take the hit in depreciation when you went to sell it too.
That's getting bent over.

The way to get to drive the newest cars for the least amount of money is to lease. Sure, you will always have a car payment, but I'd hate to be making a $800 a month car payment on a 4 year old car with 60,000 miles on it. Only for a year later to pay it off, but have no warranty and then the thing break down and need $3,000+ in repairs, or to be sick of it then and want to sell the car and get a new car all over again anyway (which is what an awful lot of people end up doing shortly after paying off their cars).

I like driving newer, nicer, warrantied cars that I don't have to worry about. Yes it means endless payments, but in order to drive newer cars all the time, that's what you pay for.
Works for some, not for others.

Re-read the posts.
Lucky13 says, "only an idiot would lease a car."
Then YOU say, "I agree with 13 completely all around."
Sam's first post was proclaiming I had a "sh*tty attitude" but he says nothing about you guys saying I'm an idiot and "it's stupid to lease."
Funny how he said I had the "sh*tty" attitude when I was just responding you your guys attacks of my intelligence.

It's you guys who called me an idiot for leasing first.
I responded to your attacks on my intelligence and reasons for leasing.
I did not ask for responses to attack my reasoning, but that's what I got first, I responded that for many it's the best/smartest way to go.
I continued to get attack responses, so I step up the game a bit in my responses.
Don't blame me for sounding like a d**k. I was just responding to your guys dic*ish responses.

But you were OK with them bashing us folks first who like to lease. Hmm, slanted logic, but ok.


I do, when I am. :D
You?

I see both sides to leasing. Like 72 says, you make a purchase payment, because really, who has $50k for the new SHO just laying around, and after your 60months is up, you just finished paying it off, and now what is it worth? Or maybe you did have all that money in a sock drawer, same question, after one year, how much is it worth? I would never purchase a new car, just buy it when 72 gets bored of it one or two years later and it is sitting in the dealers used car lot. however, my mama always said, "don't buy what you can't afford", and with leasing, this seems to be the case for a lot of people. They get buried in a monthly payment with a 3 year contract, when they can't afford the car and sometimes the payments in the first place. I deal with this a lot in my line of work. I am a collision estimator, so a vehicle comes in, it is 4 years old, hit hard, and the person is begging me not to total it (not that i have a choice, md law is md law) because they are still stuck in a payment. I really laugh when people tell me they owe $10k on a car that is only worth $7k now. Who got raped? They did. And then they get upset because I ask, "well why did you not have gap insurance?" Would you like to know how many of these folks have no idea what gap insurance is? that would be like renting a home without renters insurance. In the event something terrible happens make sure your covered. So, like I said, I do see both sides. But I don't know anything about Fords lease program, so can't help you there.

Thanks BlueBlood, good points.
AND, your points reminded me of another reason I lease.
ACCIDENTS!!
When you lease a car, you really don't give a crap if it gets damaged and needs to get fixed. You have it fixed and that's it.
When you own the car, if it gets significant damage to it, you CARE about it because it's yours.
And we all know after sizeable damage the car is NEVER the same. If you try to sell the car that you own after sizeable damage and repair, it's pretty worthless, you take more of a beating.
Lease car, you hand them the keys and say, "have a nice day."
But I'm an idiot for leasing. :D ;)

From the lenders POV what is a lease? They figure out that the depreciation most likely will be and the interest on the "loan" they hold at the end of the lease. What the lessee pays for is that depreciation and interest on that loan. Where you get took is on that interest rate because its often way higher than what you may have been able to get the loan out right. At the end of the lease you turn your car in. Hopefully under the mileage quota. If its over you get hit with a per mile charge which could be in the thousands of dollars. But if you turn the car back in under the quota, there is no consideration in your favor. Sounds fair to me. Does it to you?

If you buy outright, once your car is paid off you have a car to drive for years with no payment. I buy because I keep my cars until they start to become maintenance problems. Kept my last car for 11 years. Had it paid off in 3, so for 8 years I had no car payment. If I lease, the payments never cease and I have to pay attention to the miles I put on the car.

Many leasing interest rates are the same (and in some cases less) than loans. I paid 4.9% on my BMW's. New car interest rates for BMW at the time were 5.25% or higher.
True there are 0% loan rates in this economy but there are also lease incentives and specials too.

Again, I don't keep cars 11 years, or even past 3. I'm lucky to keep them 2 in many cases. So owning my fun/toy cars isn't the best choice.
Again, with mileage in leases, you just have to know how many miles you drive. You can always "pre purchase" miles at a significant discount.
And I have heard of some leases that will "buy back" unused miles too, but it's at an even lower rate.
GAP insurance also can cover you for up to 1000 miles in excess of your limits.
I own 2 of the cars I currently have, but there are reasons for that too.

But there is no doubt, for those who like to drive a car for many years, such as yourself, leasing is not the way to go.

The above post is filled with logic which is a good thing. My wife and I are childless (thank God) so when we purchase a new vehicle it is more often than not paid off within one year (yeah). Our personal best was on the 05gt which took exactly 5 months to pay off. I absolutely hate payments of any kind be it a lease or finance. I tend to purchase our vehicles because of the modifications I have done and when leasing a vehicle this is not the best idea. We have leased two of the fifteeen new vehicles since our wedding 18 years ago and I see advantages to either process. Cheers:icon_snowball:

I guess you could look at it that way, or you could look at it in the way where your first reply to someone trying to help you was saying how Ford employees can't be trusted.

Either way, yes I can understand why you would want to lease and at the end of the day, you do what you want with your money and I'll do what I want with mine. A lease would never be good for me, I don't plan on ever getting rid of my Mustang that I have now. I'm hoping that within about 5 years(I'm 19 now) I'll be able to afford to get a brand new GT convertible and five years from now I don't think I'll really be able to get enough by selling my current Mustang to make it worth getting rid of it. And as long as I can afford to get the new car I want without selling my current car(s) I imagine I'll feel the same way about any others or I probably wouldn't have bought them in the first place. But I'm the kind of person that, other than a couple beater cars at 16-18 years old, if I'm going to get a car then I'm going to find one that's EXACTLY what I want, and I like a lot of different years of Mustangs. Another huge benefit to me buying over leasing is that I work at a dealer and the discount we get on brand new cars is phenomenal. On used we still get a discount, but they're only making so much on the used cars anyway. With new cars, it's huge, another guy there recently bought a $40k+ diesel for just over $25k. And I have very very little interest in ever owning any car other than a Ford so that will apply to pretty much any car I buy for as long as I'm working at a Ford dealer. Considering I'm about to go to 3 years of special Ford training to get Ford certified in everything that's hopefully pretty much for life.