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Ford, Leases, Specialty Models, And You

Discussion in 'Ford Credit' started by ZephyrEFI, Nov 19, 2012.

  1. ZephyrEFI

    ZephyrEFI Well-Known Member Respected Member

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    I've been kicking over rocks around my local Ford dealer lately trying to figure a way I can get myself into a new Focus ST. I've learned some things, and I thought I would share them with you!

    First, you CAN get out of a lease IF you're going right to another Ford. They treat your leased car pretty much just like a trade in. They look at how much you owe on the lease + the buyout and compare that to the car's value. Right now I am about $3000 upside down on both Foci. The prices on new '13s have come down, plus there are a lot of incentives.

    Second, when you're looking at what new car you can afford price-wise, you can NOT just look at the MSRPs and compare apples to apples. The MSRP on a Focus Titanium is a little bit higher than a mid-level ST. HOWEVER, on the actual lot, the Titaniums end up MUCH lower in price because of incentives. The ST is a specialty, limited model, much like a Boss 302 or GT500, so there are NO incentives. Also, Ford does not prefer to lease these models because they tend to live a rougher life, so they jack the lease rate up so high, you might as well buy. So, you're looking at buying, not leasing. Any payment advantage you might have gotten leasing a lesser model is out the window on a specialty model.

    In my case, i'm looking at having to roll that $3000 I'm upside down into my loan, jacking that payment up even further. So, long story short, I thought I could afford an ST, but it's turning out to probably not be the case. I know i have more options like saving up a good down payment and seeking financing outside of Ford Credit, but it'll all have to wait for now.
  2. Dominick

    Dominick Well-Known Member Respected Member

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    I really like the looks of the 2013 Fusion.
  3. dyngrngalaxie

    dyngrngalaxie Active Member Respected Member

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    I agree. Saw the 13 Fusion at the dealers last wk. Real nice!
    I had leased imports in '99 and '03. I thought about leasing a focus in '08 or '09. Found it really expensive. Ford credit at one time had the rep of being the best leasing company to deal with according to consumer publications. Don't know if that's still the case. Bought the 99 protege back for my daughter in '03. Things went pretty smooth. Talked to them about upgrading to a 626, 3 years into the lease. They weren't about to do me any favours. The '03 which I won't name was generally a POS. Spoke to them about upgrading to next model up, 3 years into the lease. Again, no favours. Looked at trading it in to buy my Crown Vic. Ford dealer would have bought it, but would have left me $4000. upside down. Managed to sell it in auto trader & got just enough money to get out clear. Gotta love some leasing companies. They got every last dime they were entitled to, but still charged me about $550. early termination penalty and admin fee. The business mgr was a piece of work too. I got figures from mfr's leasing co. He claimed I owed them double the amount. Had to pay it in order to complete the sale & had to fight to get the overcharge refunded.
    I've been inclined to go back to leasing . Couple of things:
    1) you better keep your cars REAL good
    2) better either stay within mileage limits or negotiate it up front. My daughter did that with a corrolla. She ended up getting a local job and didn't put on anywhere near the mileage. When she returned it & leased her '03, Toyota was more than fair, crediting her with the overpayment.
    3) don't know how things work in the US. With used car disclosure laws in Ontario, if you have an accident where repairs exceed $3000. or necessitate refinishing more than 2 adjacent body panels, that has to be disclosed. I suspect that will end up costing you BIG TIME when you return the car.
  4. ZephyrEFI

    ZephyrEFI Well-Known Member Respected Member

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    Yeah, I've leased before, but I didn't really worry about it because I bought the car afterwards. On the blue Focus, we have that stupid coverage that costs an outrageous extra $60 a month for anything the car needs when we turn it in. They'd better not give us any trouble on THAT one! On the silver one, we don't have it, but the mileage will be so low, I didn't worry about it. If we end up against the limit early on mileage, my plan is to drive the Zeph. Hopefully it happens in the summer. haha. That's pretty cool about the refund for unused miles. I wonder if I'll get that! I'm sure we'll carry at least one of our leases all the way until the end. But one of them will definitely be traded in beforehand. It doesn't sound like they will hassle me for early termination if i buy another car with them.
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