In July 2005 I leased a 2005 F-250 CC FX4 5.4 XLT for 5 years. I know a lease ain't the smartest idea, but I looked at it as a 8-9 year purchase. I drive a company vehicle and have only put 18000 miles on it.

With the used truck market tanking, I now wonder if a end of lease purchase is the best idea. The good part is, the residual price is only 15600. I used the KBB website and they show a retail price of 24900, so I'm at about 38% off the retail price (according to the KBB). As I look through the auto trader, it is hard to find an 05 gas V8 over 20000, but the lowest mileage I've seen is 38k.

I love this truck, normally after 3-4 years I'm tired of a vehicle and ready to trade, but I've been completely happy with this one. I've had a remote entry installed, added slightly bigger tires, Wet Okele seat covers all around and Catch All Xtreme floor mats front and back. Other than those things and servicing, I've done nothing to it.

I've thought about if I let it go, I would look for an early 90s CC, which I know is hard to find one in good shape. The ones I've seen are normally in the 5-10k range.

My delima is, it is hard to make payments on something that gets less than 5k miles a year. On the other hand, with the mileage it's getting, it could be my boys truck in 10 years.

I figure I have a few options.
1) Buy the truck at end of lease and continue making payments
2) Let the lease company have a brand new looking 05 with <20k miles
3) Buy the truck, resale and hopefully clear enough to make up a good part of an early 90s model

Sorry for the long post, but does anyone have any opinions.

 

I was in the same situation, but i didnt lease my truck. I only drive about 5,000 -10,000 miles a year. My F350 PSD lariat cost me around $47,000 and could not see paying large payments for a truck im not driving. I ended up selling it and buying a 1999 F250 XLT PSD EC 8' bed. I bought it cash and feel it was the best discision i have even made, its just as good as my new truck was and its paid for! depending on the market for your pacific truck in your area it might not be worth buying to sit on it.

 

Can you post pics of the truck? Where do you live in NC?

 

I thought I had some pics on here, but I can't find em. My Message box says I have 0 capacity too.

I live outside Salisbury but work a couple miles down hwy 21 from Huntersville. I bought the truck at Huntersville Ford

 

Yes, you need at least 25 posts before you can attach pics... you're almost there. I live in Huntersville. Where do you work? I'll drop by and look at your truck one day... I live off of Ramah Church Road.

 

Carolina Tractor. I drive a company vehicle.

 

I know where that is located... Exit 18. Is your F250 a shortbed or longbed? Also, does it have ESOF?

 

Shortbed and yes

 

Ah, that won't work for me. I recommend Option #3. You shouldn't have any problem making $5K or more on the truck.

 

Ok, thanks for the input.