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Lease buyout advIse

Old 10-10-2020, 06:14 PM
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Default Lease buyout advIse

So backstory. F150 Platinum just a tick under 37k. We looked at Rams, looked at potential trade in but the buyout is Exclusive to the Leasee In other words if we don’t buy it, Ford Motor credit has first dibs and the selling dealer has second dibs.
The buyout is 41.6. The Retail is 49. To trade it not enough on the bone at 44k to deal with waiting for title. We had an approved lease buyout loan from a credit union. We’d have to wait for the payoff to go thru, then wait for title to go from ford to the CU and risk loosing the vehicle we wanted since 21’s are in short supply. So we leased the new Ram. Now selling dealer of F150 is all over us to bring it in for inspection. They want it.
so I see 3 options

give it to Ford Motor Credit and hope I dont get a bill for tires or brakes or any other made up shit.

Sell it to the leasing dealer for the buyout. Then they own it and we’re off the hook for any “it needs brakes, tires etc”. Which it doesn’t.

use the CU loan, buy it, and list it for 47k on a blow out. Make maybe 4-5k.

my issue with the last option to make maybe 4-5k is waiting again on title transfer, needing to make a payment to the CU, then dealing with shit heals and scammers on line.

I told my wife if the dealer would buy it and we walk with 1k I’d be ok.

plus I don’t have driveway room for this thing.






truck is beautiful
Old 10-10-2020, 06:17 PM
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If you want to trade it into Dodge, for example, you dont need to wait for the title and do all that. You can go to them and say my lease is ending I want to trade it in, how much will you give me for it. They will take care of everything. If they give you 44k on a trade, its a no brainer to take a couple extra thousand on a new one.
Old 10-10-2020, 06:24 PM
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Originally Posted by Gali View Post
If you want to trade it into Dodge, for example, you dont need to wait for the title and do all that. You can go to them and say my lease is ending I want to trade it in, how much will you give me for it. They will take care of everything. If they give you 44k on a trade, its a no brainer to take a couple extra thousand on a new one.
negative. Right in our lease agreement It says the buyout Amount is exclusive for leasee, not 3rd parties. That puts Ford in control. The GM at the Dodge dealership called the GM at the Ford dealership to negotiate a trade. Ford wanted 47k so nothing in it for the Dodge dealer To take on
Old 10-10-2020, 08:21 PM
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Sounds like a lot of phone calls, emails, and paper work is in your future unfortunately.
To make some money buy it and sell it if u can swing it.
Fastest option is let the dealer take care of it
Old 10-10-2020, 08:37 PM
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I can help you. Been working for Ford/Lincoln for 24yrs. You can absolutely trade your lease into the Dodge dealer. And they can absolutely pay it off or buy it and keep it themselves. Prices on trucks like yours are thru the roof right now. And used trucks are selling for almost what new ones would normally bring.

Im not exactly sure I’m following you though.
What is the payoff on the truck? Not the lease end buyout or residual value after all payments have been made but the actual payoff for today right now? If you don’t have that call 800-727-7000 and follow the prompts. Either use the account number or your ssn to get the payoff thru the automated system. Once you have that go to the Dodge dealer or even better Carmax and sell it to them. Absofrickinlutely guarantee you you can do that.
The originating dealer has no right or claim to your truck until the lease is over.

Send me a pm if you need any help at all.
Old 10-10-2020, 08:42 PM
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I don’t know the answer, but I’ll ask the question:

”How does sales tax work with the options you’re considering?”

Do you have to pay sales tax on the buyout?

And also then consider how the sales tax works on the trade in.
Old 10-10-2020, 08:51 PM
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Originally Posted by 7.62Kolectr View Post
I can help you. Been working for Ford/Lincoln for 24yrs. You can absolutely trade your lease into the Dodge dealer. And they can absolutely pay it off or buy it and keep it themselves. Prices on trucks like yours are thru the roof right now. And used trucks are selling for almost what new ones would normally bring.

Im not exactly sure I’m following you though.
What is the payoff on the truck? Not the lease end buyout or residual value after all payments have been made but the actual payoff for today right now? If you don’t have that call 800-727-7000 and follow the prompts. Either use the account number or your ssn to get the payoff thru the automated system. Once you have that go to the Dodge dealer or even better Carmax and sell it to them. Absofrickinlutely guarantee you you can do that.
The originating dealer has no right or claim to your truck until the lease is over.

Send me a pm if you need any help at all.
yup we have the buyout. It’s right on Ford Motor Credit web sight for our account. It’s 41.7 and states for lessee only. The GM from dodge said they run in to this crap all the time with Ford as a a right of first refusal measure. So we called Ford Motor Credit and the said the vehicle cannot be traded in to anyone including the leasing dealer. Ford Motor Credit is the owner and has the first right of refusal. So we have a scheduled inspection 11/4 by a private firm referred by Ford Motor Credit. The person indicated they also give the leasing dealer a chance to bid in, hence the constant calls and texts. I’m not doubting your Ford experience but our lease agreement clearly states the buyout amount is for the leasee only and the web site payoff amount states the same.

and I agree. I just made a mortgage to the #1 Toyota dealer owner and when I looked his income statement it was 80/20 used vs new.
This truck would fly off the shelf at 50. Sticker was 76.

Old 10-10-2020, 08:52 PM
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Ps...there is no reason for you to be calling the GM at the Ford dealer. Your lease is with Ford Motor Credit not the dealer. I can personally tell you when people call us for a payoff instead of FoMoCo we add to the actual payoff. Most dealers do. If they are gonna do the work of paying off your truck after you trade it to another dealer than we and most every other dealer is going to add money on top of the actual real payoff for the trouble.

In rereading your Op it seems as if the lease has come to its end? Is that correct? How much actual time is left on it? What is turn in date? If you’ve made all payments on it and the lease is over you can still sell it. And as I said I’d take it to carmax as they are paying more for vehicles now than anyone else.
Get the payoff as I said, go to carmax and get it appraised. Do not tell them the payoff until you hear their number as it is possible they will be higher. Then if it is tell them the payoff and sell it to them. You will sign some docs and as soon as they pay off the vehicle and obtain title they will send you the difference/profit you’re entitled to if there is some.

Last edited by 7.62Kolectr; 10-10-2020 at 09:00 PM.
Old 10-10-2020, 08:59 PM
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Originally Posted by STEELA View Post
yup we have the buyout. It’s right on Ford Motor Credit web sight for our account. It’s 41.7 and states for lessee only. The GM from dodge said they run in to this crap all the time with Ford as a a right of first refusal measure. So we called Ford Motor Credit and the said the vehicle cannot be traded in to anyone including the leasing dealer. Ford Motor Credit is the owner and has the first right of refusal. So we have a scheduled inspection 11/4 by a private firm referred by Ford Motor Credit. The person indicated they also give the leasing dealer a chance to bid in, hence the constant calls and texts. I’m not doubting your Ford experience but our lease agreement clearly states the buyout amount is for the leasee only and the web site payoff amount states the same.

Until you actually turn it in and the dealer terminates the lease thru a website we call ‘accelerate’ it is still yours to do with as you please. I take people out of leases in a daily basis and pay them off. The GM at the Dodge dealer doesn’t sound to bright and you spoke to the wrong rep at Ford. Once the vehicle is ‘grounded’ (terminated) thru accelerate then yes the Ford dealer you drop it off at has first right to buy it once it comes online for sale. We also buy vehicles off that site daily. And you should know that the $41,700 payoff will be lower for them once it hits accelerate. Carmax or any other dealer can buy your car and send Ford a check for it. However most do EFT, Electronic Fund Transfer which is quicker.
Old 10-10-2020, 09:04 PM
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Originally Posted by 69Mach390 View Post
I don’t know the answer, but I’ll ask the question:

”How does sales tax work with the options you’re considering?”

Do you have to pay sales tax on the buyout?

And also then consider how the sales tax works on the trade in.

To answer your question, yes you pay sales tax and all fees for the dealer and tags if you buy your lease at the end. It’s no different than buying a used car. And quite often dealers will add a minimum of $1000 to the payoff to make some profit on a car you already possess.
Old 10-10-2020, 09:07 PM
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The Dodge GM contacted the Ford GM dealer for the negotiated “payoff”.. the Ford dealer GM made the payoff untenable for any profit for the Dodge dealer. I saw the emails. Because the Ford dealer wants the truck. The Ford dealer also indicated they would need the ok from Ford Motor Credit which reinforces to me they, with their right if first refusal, hold the cards.
Old 10-10-2020, 09:10 PM
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Originally Posted by STEELA View Post
negative. Right in our lease agreement It says the buyout Amount is exclusive for leasee, not 3rd parties. That puts Ford in control. The GM at the Dodge dealership called the GM at the Ford dealership to negotiate a trade. Ford wanted 47k so nothing in it for the Dodge dealer To take on
I can almost guarantee you that you can do what I said because I've done it. It's semantics of how they go through the process. If your lease explicitly prevents that and dodge says they can't do it, then you have a super rare lease agreement written up.

Another person in this thread said he works for Ford and confirmed my previous statement. If you like the Ram, this may be your best move. You know how many thousands of people trade in leases early to Carmax to get out of the lease if there is positive equity in it?

While you may not own the vehicle itself, you own the positive equity in it unless you decide to turn it back into Ford, something I would say would be bizzare if it retails for thousands more. If you turn it in first, with the expectation of Dodge buying it, then of course it wont work because that price is no longer valid. What would happen is something of the sort where Dodge cuts a check to Ford on your behalf for the buyout you sign paperwork transfering the car to dodge, and the positive equity rolls into your new Dodge...It can be done, 100% without a doubt. If Dodge says they cant, you're speaking to the wrong guy. Ford WILL say they can't if they want the Truck, why would they help you go to another brand?

Also to your point of being happy if you make 1k by giving it back to Ford. The dealer is not going to pay you 1k for the truck. If you turn it in, you're going to pay them, the disposition fee that all leases have. The only way you back money on the car is via "trade" on a new one at a dealer. Carmax, if your car truly retails for 49k may have 1-2k in there for you. Their site is super easy to use, try it our you get an instant quote.

Last edited by Gali; 10-10-2020 at 09:20 PM.
Old 10-10-2020, 09:10 PM
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Originally Posted by 7.62Kolectr View Post
Until you actually turn it in and the dealer terminates the lease thru a website we call ‘accelerate’ it is still yours to do with as you please. I take people out of leases in a daily basis and pay them off. The GM at the Dodge dealer doesn’t sound to bright and you spoke to the wrong rep at Ford. Once the vehicle is ‘grounded’ (terminated) thru accelerate then yes the Ford dealer you drop it off at has first right to buy it once it comes online for sale. We also buy vehicles off that site daily. And you should know that the $41,700 payoff will be lower for them once it hits accelerate. Carmax or any other dealer can buy your car and send Ford a check for it. However most do EFT, Electronic Fund Transfer which is quicker.
we had I believe up to 120 prior to the lease termination to do that. Inside 120 we have no leverage or options. The last payment was made 10/1

that being said. I can still buy it for 41.7 tomorrow. And I may. Just not sure I have the time to deal with it and selling it
Old 10-10-2020, 09:16 PM
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Maybe it was simpler at the start of the lease?
Old 10-10-2020, 09:18 PM
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Originally Posted by STEELA View Post
The Dodge GM contacted the Ford GM dealer for the negotiated “payoff”.. the Ford dealer GM made the payoff untenable for any profit for the Dodge dealer. I saw the emails. Because the Ford dealer wants the truck. The Ford dealer also indicated they would need the ok from Ford Motor Credit which reinforces to me they, with their right if first refusal, hold the cards.

As I said you do not need to be dealing with the GM at the Ford dealer. Your lease is not with them. It is with FoMoCo. The Ford GM was being a dick and telling the Dodge GM a BS story to make it more difficult for you because you were at Dodge trying to buy a Dodge and not there at Ford buying another one from them. You can sell your truck to the Dodge dealer and they can pay it off directly to Ford. The Ford dealer never needs to know anything about it. Like I said the Ford GM added to the actual payoff because if you aren’t gonna buy another truck from them they will make money off you when they pay your truck off. Goes like this. People call me from BMW for a payoff. I pull the account. Payoff is $40,000. I tell them it’s $42,000. And to send the check with account number to me. I take the $40,000 send it to Ford, keep the $2,000 for myself and my GM buys me a burger for making the owner a quick $2k. EVERY dealer does it.
Call the number I gave you above 800-727-7000 and get the actual payoff yourself. Not thru emails from the GM at the Ford dealer.
Is the lease over? Made all the payments? What is scheduled termination date?
Old 10-10-2020, 09:21 PM
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Originally Posted by STEELA View Post
we had I believe up to 120 prior to the lease termination to do that. Inside 120 we have no leverage or options. The last payment was made 10/1

that being said. I can still buy it for 41.7 tomorrow. And I may. Just not sure I have the time to deal with it and selling it
Maybe I’m missing something? What state are you in? I’m in Florida. Some states are quirky. If you made the last payment 10/1 than termination date is 11/1. Here the truck is still yours until you turn it in, sign an odometer statement and walk away. I still think you can sell it to Carmax and make something. Your truck is worth more than $41,700.
Old 10-10-2020, 09:22 PM
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Originally Posted by 7.62Kolectr View Post
As I said you do not need to be dealing with the GM at the Ford dealer. Your lease is not with them. It is with FoMoCo. The Ford GM was being a dick and telling the Dodge GM a BS story to make it more difficult for you because you were at Dodge trying to buy a Dodge and not there at Ford buying another one from them. You can sell your truck to the Dodge dealer and they can pay it off directly to Ford. The Ford dealer never needs to know anything about it. Like I said the Ford GM added to the actual payoff because if you aren’t gonna buy another truck from them they will make money off you when they pay your truck off. Goes like this. People call me from BMW for a payoff. I pull the account. Payoff is $40,000. I tell them it’s $42,000. And to send the check with account number to me. I take the $40,000 send it to Ford, keep the $2,000 for myself and my GM buys me a burger for making the owner a quick $2k. EVERY dealer does it.
Call the number I gave you above 800-727-7000 and get the actual payoff yourself. Not thru emails from the GM at the Ford dealer.
Is the lease over? Made all the payments? What is scheduled termination date?
lease is dunzo. Last payment made
Old 10-10-2020, 09:24 PM
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Originally Posted by 7.62Kolectr View Post
Maybe I’m missing something? What state are you in? I’m in Florida. Some states are quirky. If you made the last payment 10/1 than termination date is 11/1. Here the truck is still yours until you turn it in, sign an odometer statement and walk away. I still think you can sell it to Carmax and make something. Your truck is worth more than $41,700.

this is the bull shit I do not have time for
Old 10-10-2020, 09:25 PM
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Get the REAL payoff thru the automated line I gave you and the account number which I’m sure you already have.
Go to carmax and tell them you want to sell your truck.
If they offer you more than the payoff say ok and give them your account info. Make your money.
No need at all to deal with the Ford dealer. And I’ve never heard of this 120 day rule either? Is that another ‘lie’ the Ford GM told you/Dodge GM?
Old 10-10-2020, 09:27 PM
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Originally Posted by 7.62Kolectr View Post
Get the REAL payoff thru the automated line I gave you and the account number which I’m sure you already have.
Go to carmax and tell them you want to sell your truck.
If they offer you more than the payoff say ok and give them your account info. Make your money.
No need at all to deal with the Ford dealer. And I’ve never heard of this 120 day rule either? Is that another ‘lie’ the Ford GM told you/Dodge GM?
actually it’s what Ford Motor Credit told us directly

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