Vulnox
Well-known member
- First Name
- Bob
- Joined
- Mar 19, 2021
- Threads
- 1
- Messages
- 344
- Reaction score
- 185
- Location
- Livonia, MI
- Vehicles
- 2021 F-150 Lariat 502A, 3.5L PowerBoost
I've leased and purchased and never had an issue with leasing at turn in, and I have had some good size imperfections. Someone keyed the side of my 2017, I cleaned it up as best I could but in the right light you could still see one long key mark. Didn't have any charges or issues. Someone turned too sharp and scuffed the front right of my bumper on my 2019, again I cleaned it up and did some light paint touch up myself, no issues.
Especially if you are getting another Ford, there is a certain dollar amount that Ford forgives also for excess repair costs, I can't remember exact value but it may be $200? That may not sound like much, but keep in mind that is based on what Ford considers for a basic touch up of the damage, so if there are a few excess dings or scratches but a PDR guy can fix them for $150, then Ford would just take that off the $200 and life goes on.
Despite having young kids, dogs, and using the truck for truck stuff including towing, moving furniture and heavier equipment (snow blowers, generators, tools), most anything you reasonably do with a half ton, I have yet to pay an excess damage fee on a lease.
Obviously YMMV and all that, but Ford at least seems very realistic and reasonable with how they expect lease turn-ins to go. Also the dealer has the option to buy your lease at turn in instead of it going back to Ford Credit to then go to auction. If the dealer exercises this right, which some of mine have (especially my 2019 F-150 since they were desperate for vehicles) then the dealer gets to buy the lease for slightly less than your advertised buyout on the Ford Credit account page. They don't have to mess with auctions and can see the vehicle first hand before going that route. If the dealer buys it, not only do you have the chance to make some money (I got $2k back from an Explorer lease because the dealer really wanted it), but you bypass the Ford Credit inspection portion.
Anyway, leasing has actually worked out better for us than purchasing. Sure if you actually keep the vehicle for 7-10 years, instead of intending to but then just trading it in after 3 years when something new and cool comes out, purchasing can have definite advantages. But leasing is definitely not as scary as some believe. We only try to have one lease though, and it's usually the vehicle we travel in the most. Our other vehicle is a paid for Focus Electric that my wife just uses to get to work. But when we go on trips and that, I want the best comfort and reliability.
Especially if you are getting another Ford, there is a certain dollar amount that Ford forgives also for excess repair costs, I can't remember exact value but it may be $200? That may not sound like much, but keep in mind that is based on what Ford considers for a basic touch up of the damage, so if there are a few excess dings or scratches but a PDR guy can fix them for $150, then Ford would just take that off the $200 and life goes on.
Despite having young kids, dogs, and using the truck for truck stuff including towing, moving furniture and heavier equipment (snow blowers, generators, tools), most anything you reasonably do with a half ton, I have yet to pay an excess damage fee on a lease.
Obviously YMMV and all that, but Ford at least seems very realistic and reasonable with how they expect lease turn-ins to go. Also the dealer has the option to buy your lease at turn in instead of it going back to Ford Credit to then go to auction. If the dealer exercises this right, which some of mine have (especially my 2019 F-150 since they were desperate for vehicles) then the dealer gets to buy the lease for slightly less than your advertised buyout on the Ford Credit account page. They don't have to mess with auctions and can see the vehicle first hand before going that route. If the dealer buys it, not only do you have the chance to make some money (I got $2k back from an Explorer lease because the dealer really wanted it), but you bypass the Ford Credit inspection portion.
Anyway, leasing has actually worked out better for us than purchasing. Sure if you actually keep the vehicle for 7-10 years, instead of intending to but then just trading it in after 3 years when something new and cool comes out, purchasing can have definite advantages. But leasing is definitely not as scary as some believe. We only try to have one lease though, and it's usually the vehicle we travel in the most. Our other vehicle is a paid for Focus Electric that my wife just uses to get to work. But when we go on trips and that, I want the best comfort and reliability.
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