Should I buy out of the Lease?
 

I need some advice…..I have a beautiful black 2007 Ford Expedition Limited EL 4x4. It only has 30k miles on it, grille inserts, after market wood dash and new tires. My Lease is up in June and I have a buyout of 25k. I am torn about buying the car out of the lease or getting a White Limited 4X4 for 56k (1.9% financing for 72 mo.) out the door.
Are there massive amounts of difference between 2007 and 2010? For the first time I cannot decide….:confused:

I'm curious what your down payment and lease payment was for the past three years.

-- Chuck

o down 700 amo

If you love the truck and would be happy staying in it, then it comes down to dollars and cents. Carefully check the book value of your truck and the average selling prices and see if the residual is a good deal. If it is, then your buying a clean used car with a known service history at a good price. If the book is lower than the residual your overpaying.

Thanks for the lease costs. Another reason I don't get the bling versions or lease! ;)

If you buy it out for $25K you'll have about $52K spent on the truck vs. the $32K I spent on my '07 XLT with HD Tow (new).

http://img.villagephotos.com/p/2004-...3-IMG_0670.JPG

-- Chuck

I just purchased a 2010 Black Exp Limited 4x4. It has all available options with a window sticker of $54. I purchased it for $46.

If I were you I would keep the 07 with half the miles. I don't see a difference in the 07 versus a 2010.

I am in a similar boat. I got my 2010 Limited 4x4 EL for 46 and change, similar stickers to David above. Sorry CJGeorge, but your out the door price is crap.

First of all 56K is WAY to much. I am sure you can do better than that. I can't recall anyone I have seen on here ever paying more than high 40's for a loaded limited. Second, if you are going to keep the 2010 for a long time, then buy the new one. It will have a few minor changes-Sync, automatic wipers, etc. And hopefully the latest tranny firmware. I think the 08 and ups did a better job with wind noise as well. I would go for the new truck.

Well goodie for you.

You bought less car so you spent less money. We all have that option. I once spent $500 on a rusty & trusty F150. Was it a better buy than your XLT because I spent so much less? Anyhow... back to the tread at hand....


If you like what you have, I'd keep it. My abacus says the new one will cost you $705/month for 72 months if you paid $48,000 for it. So, you could be "buying" a new truck for the same payment as the old one that you've been "renting".

But my same abacus says you could finance $25k for 60 months at 5.9% (your rate may vary... maybe the dealership would certify it and you'd qualify for CPO rates?), lower your payment from $705 to $482... that's $223/month (Hello?) and have it paid off a full year sooner.

So, do you want to pay $223/month to pick up Synch and rain-sensing wipers? In 2017, would you like your car payment for the year to be $0 or $8460?

I bought an '07 Navigator L last week and saved enough over a new one to buy a brand new '07 XLT if I wanted one. :-X10

I paid $92 for my gramps 1978 F250 so is it better than yours? ;)

If its the blue & white one in your picture it sure is!!! :-X22

My out the door price is crap? You're right! I could have got a better deal, if I was a Ford Employee or didn't have a trade. I was only offering the gentlemen my opinion which is worth nothing to him or you. Not everyone is a good as you!

I'm glad you feel better about yourself!

I think eddiemoney was referring to the OP talking about $56K out the door. That is way to high.

I made my point badly. With the lease you're paying $52K for a truck you could have bought in the $45K range when it was new. My $32K notation was to show just how much discount is easily available on an Expedition. With tax the "sticker" was in the $38K range.

-- Chuck

No biggie! We all do that from time to time!

Cheers.