Another lease question
Posting Guru
Joined: Dec 2000
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From: Campbell River, BC Canada
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.
Senior User
Joined: Oct 2001
Posts: 265
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From: Beloit, KS
Originally Posted by Wildcat_1
All
If I prepay for miles on my lease and then end up not using them all what happens to the remaining at lease termination?
If I prepay for miles on my lease and then end up not using them all what happens to the remaining at lease termination?
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.
Last edited by nckracer; Jun 6, 2007 at 06:58 PM.
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