I am pretty sure that 1956MarkII will know something about this
I had submitted a questions a couple of weeks ago about my lease... well we are still back and forth with the dealer...
My question is my lease has 6 months left.. I will for sure go over in my mileage by about 7 or 8k would add up to around 1100.00 but the buy out of my lease will be around 3k.... Now the salesman said there was no early termination deals... I would have to pay out my lease to get out of my Explorer...
but many people have told me that there is always a way to get out of a lease without too much mula... Is this true? The one thing the salesman did say was sometimes Ford offers an early bird deal... no such deal now though.
I can wait, so thats not a big deal, I just wonder what my options are and is the salesman not telling me everything...
as always thanks in advance for any input
Tinker

 

Currently, there's an "Early Bird" offer for certain Windstar lessees, but that's it. Ford Credit decides who gets to turn in their Windstar early, then sends a list of those people to the dealer.
The sad truth: there is no way to get out of a lease early without it costing you money. I don't mean to be hard-hearted, but you did sign a contract with certain conditions that both you and Ford Credit are legally bound to uphold. You've driven more miles than your particular lease allows; you'll have to write a check. And turning in the vehicle now does not make those excess miles go away, just because you're turning it in early. A 15,000 mile/ year lease is actually a 1,250 mile/ month lease; turn it in before the scheduled termination, and you'll be charged for any miles that exceed 1250/ month x the number of months you've driven it.

The only hope of getting out early is to find a dealer that A) will give you a great deal on a new vehicle, and B) give you a higher-than-reasonable trade-in on the current vehicle, so they can buy out the lease for you. But that means a LOT of money gets carried over to the new vehicle, and you'll be in worse shape than you are right now. Your best bet, assuming no "Early Bird" offer comes out on your Explorer: keep the vehicle till the end of the lease, putting as few miles on it as possible. Then write a check for any excess miles. As painful as writing that check might be, it's nothing compared to being "upside-down" in your next vehicle because the excess lease charge got added into the loan. And WHATEVER you do, DO NOT buy out the Explorer at the end of the lease just to avoid paying for those extra miles. You'll be paying far too much for a vehicle that isn't worth anywhere near the buyout price. BIGGEST mistake anyone can make when it comes to a lease.

 

Thanks.

 

Yes Thank you very much

 

mmm Just recieved a early bird special on my 2002 F-150. They will (wink wink) forgive up to 8 months of my lease (only got 4 months to go). The even called to make a appointment for me to come talk to the lease manager. When I asked what the advantage would be he said "You will be driving a new truck". MMMM my truck now is only 20 months old and I'm below my milage total. I asked if my unused mileage could be transfer to the new truck, he just laugh and said of coarse not. So why should I bring my truck in early. "So you can drive a new truck".
MMMMMM Told him I would see him in about 3 months and he better be able to beat the price I get from GM. I can get the GM Power buy deal or the x-plan. So may the better dealer win.

dly