Will ford extend options lease a month or 2

[Thor2j]

Will ford extend your options lease a month or 2 if you ask?

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[Brons2]

Is this a pre-sale question or a post-sale question? I would assume no, if it's a post-sale question. But you should contact Ford Credit to ask this question.

 

[Thor2j]

Is this a pre-sale question or a post-sale question? I would assume no, if it's a post-sale question. But you should contact Ford Credit to ask this question.

Lease up Nov 1. Wanting for 1 more month. Have done it with bmw and it was no problem.

 

[hybrid2bev]

Lease up Nov 1. Wanting for 1 more month. Have done it with bmw and it was no problem.

Ford Options is not a lease. It's a retail installment contract with a balloon payment schedule.

If you are experiencing financial hardship an extension of the normal monthly payment schedule could be made (which will push out the balloon due date). But you cannot have an extension for just the balloon payment.

 

[RickMachE]

Is this a pre-sale question or a post-sale question? I would assume no, if it's a post-sale question. But you should contact Ford Credit to ask this question.

Can't be pre-sale since Ford Options ended a while back...

 

[Vulnox]

Lease up Nov 1. Wanting for 1 more month. Have done it with bmw and it was no problem.

This is easily done if it were a lease, but as others mentioned, Options is not a lease. It's an installment plan with a balloon payment.

You would have to contact Ford Credit and ask them as I don't suspect anyone has had experience with this just yet since Options is a different beast.

 

[Brons2]

Can't be pre-sale since Ford Options ended a while back...

I wasn't aware of the delineation between "lease" and "options" as I have never purchased or leased a brand new Ford vehicle before.

With the Options deal did Ford guarantee a future value on the buy back, considering it's a balloon payment? That sounds horrible for people that lost value in the general EV market decline.

 

[Thor2j]

I wasn't aware of the delineation between "lease" and "options" as I have never purchased or leased a brand new Ford vehicle before.

With the Options deal did Ford guarantee a future value on the buy back, considering it's a balloon payment? That sounds horrible for people that lost value in the general EV market decline.

The only difference was it allowed the car to go in your name as at the time that was the only way to qualify for the $7500 federal. You can walk away at the end as most will do based on the resale value of the car. Just like a lease.

 

[RickMachE]

I wasn't aware of the delineation between "lease" and "options" as I have never purchased or leased a brand new Ford vehicle before.

With the Options deal did Ford guarantee a future value on the buy back, considering it's a balloon payment? That sounds horrible for people that lost value in the general EV market decline.

Ford Options was unique in several regards, @Thor2j pointed out one of them. You owned the vehicle, but there were options at the end of 3 or 4 years that were different than a Ford Lease, which at the time did NOT allow you to purchase back the car, you had to turn it in (Ford Lease has now been changed back to allow you to purchase at the end, since Options is discontinued).

Because you owned the car, you had title and could do what you wanted with it. At the end of the Options period, you could keep it, turn it in, trade it, etc.

This thread is a good summary. @hybrid2bev is an expert. https://www.macheforum.com/site/thr...ndard-lease-similarities-and-differences.883/

 

[HuntingPudel]

Ford Options is not a lease. It's a retail installment contract with a balloon payment schedule.

If you are experiencing financial hardship an extension of the normal monthly payment schedule could be made (which will push out the balloon due date). But you cannot have an extension for just the balloon payment.

My Options ballon will come due next year in December (4 year Options Plan). If I order a new car a few months before it becomes due and the car doesn’t arrive in time can the payment schedule be extended until the new car comes in, and then the Option to turn in the car be exercised when the new car is swapped out for the old one? ??

 

[Brons2]

My Options ballon will come due next year in December (4 year Options Plan). If I order a new car a few months before it becomes due and the car doesn’t arrive in time can the payment schedule be extended until the new car comes in, and then the Option to turn in the car be exercised when the new car is swapped out for the old one? ??

There are like 60 Mach-Es on the dealer lot where we leased ours, why would you need to order?

The situation has completely changed from 2-3 years ago. These are easy to come by.

 

[Vulnox]

There are like 60 Mach-Es on the dealer lot where we leased ours, why would you need to order?

The situation has completely changed from 2-3 years ago. These are easy to come by.

It's possible they aren't buying it from your dealer. Our dealer has 20 MMEs in their stock list and they are ALL Premiums. If someone wanted a GT or Rally then they aren't getting it off the lot, at least without a dealer trade. Then you have to find your color and so on.

Many people have specific plans for a vehicle they are spending significant money on. I have ordered every vehicle we have bought in the last ten years or so because finding exactly what we wanted was almost impossible. Even my F-150, which is one of the most purchased vehicles on the planet, is almost non-existent in the exact configuration I ordered.

 

[HuntingPudel]

There are like 60 Mach-Es on the dealer lot where we leased ours, why would you need to order?

The situation has completely changed from 2-3 years ago. These are easy to come by.

Why would I need to order? Because the dealers are not ordering cars for inventory the way I want mine. I am seeing that from incoming inventory on 10 dealers in the area. ?‍?

Yes there are tons on lots. Not a single one the way I want it. ??

 

[hybrid2bev]

My Options ballon will come due next year in December (4 year Options Plan). If I order a new car a few months before it becomes due and the car doesn’t arrive in time can the payment schedule be extended until the new car comes in, and then the Option to turn in the car be exercised when the new car is swapped out for the old one? ??

You're encouraged to call in and ask. But keep in mind Options is retail contract not a lease and is a rather niche product.

My interpretation of the rules says no. The extension rules are the same as for a normal retail contract, which does not have a 'lease end extension' concept.

Now, what I would do in your scenario is to call in and ask for an normal monthly payment extension (or a two month extension) BEFORE the last normal montly payment is due (two months before the balloon is due).

 

[HuntingPudel]

You're encouraged to call in and ask. But keep in mind Options is retail contract not a lease and is a rather niche product.

My interpretation of the rules says no. The extension rules are the same as for a normal retail contract, which does not have a 'lease end extension' concept.

Now, what I would do in your scenario is to call in and ask for an normal monthly payment extension (or a two month extension) BEFORE the last normal montly payment is due (two months before the balloon is due).

Cool thanks. I know it’s still a long way off, but in the hypothetical situation where the car being ordered comes in earlier than the balloon comes due (while the monthly payments are still in effect), do you think I can turn the old car in? I assume that I am still liable for the remaining monthly payments, would that be accurate? ??

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