Has anyone leased their new super duty? I lease a lot due to liking the 2 year and done get the latest and greatest however don't see any leases on Fords site for these trucks.

 

Leasing is fine for some people - but I liken it to renting a truck for a couple of years. Never could feel like it was yours.

 

Leasing is a great option for a majority of buyers, but not for SD trucks. Ford doesn't really offer any lease programs fro them. I wouldn't even consider it. If you got financing outside (Ally) you could put a lease package together potentially, but without factory support I doubt the deals would be worth considering.

 

Mileage restrictions, inability to add custom touches, I imagine a lease would not a be a good deal for anyone that really uses a truck.

 

Actually anyone who really uses a truck would be ideal for a lease if the factory would back it. If you use it, you are putting extra wear on which getting someone else to deal with it would make it an advantage. There aren't many people who use trucks that need custom touches, that's just cause you like stickers generally (lift kits are just bolt on stickers). And most of it can be undone at the end of the lease anyway, so no harm no foul.

There is an option to lease with no mile restrictions commercially, but it's more for business applications and has different requirements and you assume all risk of depreciation.

 

Municipalities lease trucks all the time. They probably work out a deal with the leasing company, but these trucks usually get beat to heck and then are re-sold at the end of the (5 year) term.

 

My point is the leasing company profits from such activity, so from a dollars and sense standpoint its cheaper to buy. Cities do it because they can fund the new vehicles as an ongoing expense, instead of needing the bond issue to purchase new equipment outright. I would never model personal budgets the way government spends money.

 

I knew a contractor that leased new trucks, mainly because he couldn't afford to buy them given his history, and it was more important for him to have a nice truck and he didn't care about the outrageous cost of it. I can buy a new truck every 3 or 4 years and it cost me about 400.00 a month paying cash for them when factor the resale of the old unit and putting 20k miles a year. I doubt I could lease a 50k diesel truck for that?

 

I generally agree, but my own city uses the lease method for their DPW equipment, for the most part, and it works so much better than before:

Prior to the lease situation, you should have seen the equipment we had. Practically antique. Constantly hiring mechanics to work on the fleet. One hard winter, many of the plow trucks broke down. The street I lived on was snowed in for two days with a heavy 2 feet of snow. After many complaints, the city comes rolling up the street in a 1980 I-H model S flatbed crane truck used to pick up planters. On the front in an 11-foot blade. Blade dropped, and the truck plowed half the street before building up enough snow in front of the truck to stop the 190HP truck in its tracks. Just didn't have enough power to keep pushing. So the driver backs up and gets a run. Full speed right into the pile...plow frame breaks off completely. Later that night a front end loader finally came and moved the pile and the busted planter truck out of the way.

The town votes on items like this, which I like, but the townspeople weren't reasonable. They simply did not want their taxes to go up, ever.

The leasing system keeps us with a nice fleet of Ford F-550 diesel 4x4 plow trucks, diesel F-350 4x4 trucks, and International Workstar plow trucks, all no more than 5 years old.

 

Municipalities lease on the commercial side, so they assume the risks of damage to the future value. On commercial leases when it's up you either buy it out or send it to auction. If the residual you set is higher than what it brings to auction, you own Ford the difference. If it's less then you get a check back. Leasing used to be appealing for commercial units on a 5 year rotation because you would have an 80% payment vs the full 100%. However, now more lenders allow commercial loans for 72 months even for commercial stuff so the payment thing isn't as big of a factor.

For government watchdog types, the advantage many municipalities have with leases is this. They don't need approval to get the vehicle. Many governments require a vote for a purchase over a set dollar amount, but not for a monthly expense. I can set up a lease for a $1 residual. They pay everything and at the end can buy the truck for a buck and never get counsel approval.

For a company, the big advantage of a lease is just on how your accountant likes things. Some are big into the asset deprecation write off, and others like the high monthly expense of a lease. Not so much a payment difference.

Neither gives a traditional reason to lease the truck like you would a personal car.

 

LOL!! That's true to an extent. However, a sticker doesn't cause increased wear and tear and may even provide some protection.