AhhDrJones

Okay, this is for all of you dealers or Buyers out there.
I am currently in a lease and I have until December 2005 before it is over.
is there any way I can get a ford dealership to pay off the remainder of my lease (approx. $2500.00) and get me into a Mustang GT?

Ihave learned my lesson and will NEVER Lease again.
After finding this site I don't think I can wait until December of next year to get my mustang GT Premium!

any help or advise?

V10

Yes, you can get out of your lease tomorrow by writing them a check for $2,500.

upstate

First of all a lease is like a loan in some regards. If you have payments between now and Dec 05 that total 2500, then here is what you can do. Find out the purchase price of the car at the end of the lease. Lets say its 10,000. To trade that car in now you would need to get 12,500 to break even. The 2500 or remaining payments and the buy out of 10 grand. If they will give you 13,000 for the car you have 500 in equity. If they only allow you 11,000 then if you come up with $1500, you go into the Mustang even.
If you lived in New York you could join the Military. We passed legislation that if you are in the military and get called up you can break your lease.
Your choice.

Falchion

See what you payoff is and maybe you can sell it yourself and get out of it that way. I'm in the same boat, got a lease untill Sept, 05.

Some people here have mentioned cars direct as a good place to sell your car. I don't know, but it might be worth a drive over to one to see what they offer you. Carsdirect.com

adrenalin

I financed my vehicle, not a lease. I owe $17,000.00 on it still. I was told that since my vehicle is worth $27,000 at trade in, FORD would pay off what I owe and the difference would be put towards my new stang.

sync007

swapalease.com Or leave it overnight in the Bronx

AhhDrJones

overnight in the bronx huh? LOL
I don't think I will try that one.

slegos888

why not your car problems will be gone! sort of!

SixtySix

I think people are forgetting something....you can't sell or trade a car you don't own.
Leaving it in the Bronx sounds pretty good.

upstate

Sixtysix you are wrong I have traded in many leased vehicles and never brought them to the end of the lease. Technically you are buying them so you do own them if you trade it and they pay the payoff as I suggested above.

kevinb120

You can 'buy' out of the lease(there is a payoff option), which of course, usually is not a favorable option. The only time I have done that is if a customer is like 10k miles over the allowance and overage fees would be like $7000 bucks if the lease is completed on time. Usually vehicles with huge rebates like SUV's or minivans help pay the negative equity down. Most manufacturers lenders will give you an option to trade out earl(up to 6 months), but ONLY if you are buying another vehicle of the same make, with Ford its called an 'early bird' rebate, and its not consistant, they will send you coupons in the mail when the promos run. Just push it off a cliff.

foxhtn

No problem! Just make sure you have lots of insurance!

Those dudes can strip a car, faster than you can say your car is gone! hehehehe!

SixtySix

No I'm not

upstate

Kevinb120 you are right, usually not a positive situation but I've also had times when I was 10,000 low on mileage which drove the cars value beyond what the lease called for. So it can either way but I agree it usually is a negitive situation.

jarednt1

What kind of car? I know GM right now is letting CURRENT GM leases get out of their lease up to 9 mines early, as long as you get another GM vehicle.

Read your contract, and check what it says. GM(AC) is pretty good about letting people out as long as they are upgrading vehicles, and staying within the GM family.

yellow98cobra.com

Are you refering to your 97 GT as being worth 27000?

silverbull271

UPSIDEDOWN-----INSIDEOUT

I know too well of the UPSIDE down realm!

if there is a buyout optioni is considered an RCO

find out how much your buyout is.....see what the car is worth...the difference is obviously what your UPSIDEDOWN

if you trade the car in to FORD (they will rape you) you can have them put the UPSIDEDOWN difference onto your new RCO

It would help you CONSIDERATELY if there was a rebate or some kind of incentive!

WAIT--------The new stang will look better and be more powerful probably in another year or so...and you will get some rebates by then.........

Till then bite the bullet and CHILL in the end youll be happy you did!

AhhDrJones

The buyout and remaining payments will definately put it over even BlueBook Private sales figures.
guess your right, I should Chill out and wait.

kevinb120

The car has to have a very high residual value. 50% or higher and you have a chance, no offense to Mitsus(but older mustangs are notoriously bad too), but you will be killed in an eclipse lease buy out. Its not a Lexus. Hi-value leased vehicles like luxury japaneese cars are TONS cheaper then financing for the same reason. Common cars like a taurus are much cheaper to simply buy outright. Any car with a large rebate structure will always have low residuals. 500 and Freestyle residuals are at 50%, the highest ever for a Ford product, promises of no rebates and low fleet sales make that possible.

kevinb120

Yea, and Eclipse will based on a relatively low trade-in. Figure about 10% less as they do not 'book' well against KBB's good rating. The awd eclipse and awd spider was much better(the newer ones were hurt in resale because buying new is attractive, but the 6-month promos are probably about the worst thing you could ever do, its worse then keying every panel of your brand new car, NEVER do the 6-month gimick!). If you were flipping this car into a leftover 04 explorer with over 5k in rebates and planning to keep it for over 5 years you would be fine. An MSRP Mustang would be horrible, just the 'overallow' loan $ vs invoice would be rediculous. Just stay the course, its the smart move. Plenty of good stuff coming down the road the early birds(including me) will miss out on anyway. For all you know, there may be a $2000 shelby package with stripes, custom bits, and 18"s showing for 06