In Canada the base km's are 25,000 per year. You can opt for a low km lease which is 20,000 per year and on most vehicle lines the residual goes up by 2 percentage points. If you prepay above 25,000 per year, for example 30,000 on a 2 year lease and you have 56,000 at the end of your lease and decide to drop the vehicle off, ford will refund you for the 4,000 km's.
2007 F350 C/C XLT 6.0 4x4
2005 F150 Super Crew Lariat 4x4
1984 F150 XLT 351w and C6 is Chromed to the Nutz!
If I prepay for miles on my lease and then end up not using them all what happens to the remaining at lease termination?
The following statement is directly from Ford Credit!
Q: If I buy extra mileage and it is not used during my lease term, what happens?
A: If additional mileage is purchased at lease inception and the purchased prepaid miles are not used in their entirety and the lease purchase option is not elected, the unused portion of the prepaid mileage will be reimbursed, provided the refund amount is greater than $1.00.
After I found this information I realized my dealer had lied to me - again!!
He told me that Ford only issued credits or cash back in blocks of 2500 miles. Since I had 2000 miles that went unused, the refund did not apply to me. At the .12 cents per mile I paid up front, I should have got $240 back.
'11 Explorer Limited 4X4
'09 Expy Limited EL 4X4
'02 F-150 KR Crew 4X4
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