This showed up at my local Ford dealer....

[Diamondpilot]

Not true. I dont lease, but leasing is good for those that want a new truck every two or three years, or those that can take advantage of annual tax incentives. Its no secret that in the long run a lease can cost you more.

Exactly. I almost always lease then if it's a good vehicle I buy it out at the end. For example my 2012 F150 Ecoboost was a lease at $399 per month for 24 months. So $8800.

I then bought it out for $24,500 at the end. So $33,300 total for a 40K truck with no fear of being stuck with a POS.

I was just offered 30K for that truck last week with 71,000 miles.

Not to bad!

Chris

 

[s219]

To really say if a lease is good or not, you need a fairly complicated spreadsheet that compares the lease to available financing options at the time of purchase. And you can negotiate the vehicle sales price with a lease to help it work out better (i.e., don't just take the advertised lease offer). I had one case where it made far more sense to lease, since it cost less over the 36 month period and the numbers worked out better. But that's not always the case. For the final two cars I financed, leasing was not the best option.

The problem is that understanding a lease, and being able to distill it into a spreadsheet that puts things on par with financing, is hard. Most dealer sales/finance staff don't even understand it (they have their own software). It took me a couple days to figure everything out. I have long since forgotten that knowledge, but if I ever get into a lease/finance comparison, I will dig out that spreadsheet. It's the only way to say for sure.

 

[check]

That's why leases are horrible deals and only make sense for people who can't really afford the vehicle they want. Besides the one-sided restrictions on mileage, they low ball you on residual. Your best bet is to buy the truck and then sell it yourself if you want another one. $16,000? Around here a dealer would advertise a 2014 XLT in good shape for $25K to $30K.

Actually, leasing works out very well for me. My monthly payments were the equivalent of about $300 US, and that was with zero down.

Also, the purchase price was only about $24,000 in US equivalent dollars, so a residual of $16,000 is not that low. As I have mentioned in other threads, Ford of US really rips off Americans on their prices of new F150 pick up trucks compared to Ford of Canada.

LOL. Anyone want to drive up to Toronto in October and buy it from me for, say $20k? Toronto is only about an hour north of Buffalo!

 

[check]

Unless your truck has 300,000 miles I don't see how it's worth only $16k?? It's set up how I like them and how most people want them. That truck should be worth mid to high 20's all day long.

Nope. My lease deal is for a maximum of 30,000 miles, and that is what it will have on it on October 1 when the lease is up.

 

[check]

Not true. I dont lease, but leasing is good for those that want a new truck every two or three years, or those that can take advantage of annual tax incentives. Its no secret that in the long run a lease can cost you more.

Actually, Ford has been putting out these amazing deals for many years now. This is my fourth F150, and each time the lease cost has been quite low in terms of the total amount that I have to pay over the 24 months that I lease it. And, as the US dollar keeps drifting higher relative to the Canadian dollar, the deals just keep getting better and better. (A few years ago, the trend was in the opposite direction, with the Canadian dollar being higher than the US dollar. All this volatility made shopping very interesting if you were a person who lives close to the Canada US border!)

 

[check]

Exactly. I almost always lease then if it's a good vehicle I buy it out at the end. For example my 2012 F150 Ecoboost was a lease at $399 per month for 24 months. So $8800. I then bought it out for $24,500 at the end. So $33,300 total for a 40K truck with no fear of being stuck with a POS. I was just offered 30K for that truck last week with 71,000 miles. Not to bad! Chris

LOL! And we thought Monty Hall had fun with his "Let's Make a Deal" show!

 

[KennyG]

It sounds like there are some odd things going on with US/ Canada pricing, especially considering the current exchange rate. I just looked at my local dealers ads and he has 6 2012 to 2014 F150 XLTs listed. The asking price for them ranges from US$28K to 34K. I think he jacks up asking price on his used vehicles (I've bought 3 new vehicles from him, no used ones) but $16K Canadian for a 2014 sounds incredible.

 

[check]

It sounds like there are some odd things going on with US/ Canada pricing, especially considering the current exchange rate. I just looked at my local dealers ads and he has 6 2012 to 2014 F150 XLTs listed. The asking price for them ranges from US$28K to 34K. I think he jacks up asking price on his used vehicles (I've bought 3 new vehicles from him, no used ones) but $16K Canadian for a 2014 sounds incredible.

No, no, it's $16k U.S., or about $23k Canadian. And holy smokes, $34k U.S. works out to over $46k Canadian! Clearly, you guys are paying twice what we pay! (Note, however, that the new 2016 F150's are now more than my 2014 was when it was new, apparently because of all the excitement now over the new aluminum body. Things do seem to be in a state of flux now, with the Dodge Rams now being the cheap ride. Who knows what the story will be when my current lease is up on October 1?)

 

[WilliamBos]

Actually, Ford has been putting out these amazing deals for many years now. This is my fourth F150, and each time the lease cost has been quite low in terms of the total amount that I have to pay over the 24 months that I lease it. And, as the US dollar keeps drifting higher relative to the Canadian dollar, the deals just keep getting better and better. (A few years ago, the trend was in the opposite direction, with the Canadian dollar being higher than the US dollar. All this volatility made shopping very interesting if you were a person who lives close to the Canada US border!)

It would cost me a fortune! I drive 25,000+ miles/40,000km+ plus a year. I use it like a truck and work it. So I would have to pay bigtime upon return.

 

[WilliamBos]

Exactly. I almost always lease then if it's a good vehicle I buy it out at the end. For example my 2012 F150 Ecoboost was a lease at $399 per month for 24 months. So $8800.

I then bought it out for $24,500 at the end. So $33,300 total for a 40K truck with no fear of being stuck with a POS.

I was just offered 30K for that truck last week with 71,000 miles.

Not to bad!

Chris

That truck will srll fast. You trading?