Buy vs Lease?

[melissphillips]

My 2021 is back in the shop with battery or junction box issues for the 2nd time in 2 months so I'm thinking it's time for a trade in. I've never leased but starting to think with these types of cars it might be the better option. Thoughts on buying vs leasing? Does Ford offer a buy out in it's leases?

Looking at the 2024s, thoughts on anything with them? Any issues I should know about?

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[phil]

I expect leasing is a better deal, so long as the $7,500 federal tax credit applies to leases and not to sales.

 

[HuntingPudel]

I leased my 2024 in November because the incentives were better for the lease, mostly because of the pass-through of the tax credit. Check for your region’s incentives at this time for both purchases and leases. ??

 

[markboris]

^^^^ I did the same as Steve at the same time for the same reasons.

 

[dalola]

You might want to spend some time on-line learning about the key differences between purchasing & leasing, regardless of the model you are looking at. Specific to the MME, you are likely to find a better deal, money-wise, with a lease, but you need to understand what you are getting yourself into first. Leasing works very well for some, not so much for others, for many reasons. Fortunately, there is a ton of info available at your fingertips.

 

[gutowscr]

New to the forum. Just leased a new 2024 Premium AWD extended range. MSRP was 54,090. With negotiations, discounts, and lease incentives, got it down to 38.5k. Money factor is 0.000229167, equal to .55% (almost zero). Put zero down with $373/month for 36 months.

 

[GreaseMonkey]

I bought despite the higher lease incentives. In Illinois we are still eligible for $4,000 state rebate on EVs but only if you buy. That, plus 0% interest on purchase for 72 months and an 8% use tax on leases in Chicago, plus lease junk fees led my wife and I to decide to buy. Net net, we were about $3,000 better buying while everyone else was better off leasing.
It is highly personal and dependent on your specific situation.

If you want to lease, the rule of thumb used to be paying no more than 1% a month of the msrp before taxes. So $50,000 car should be $500 a month plus tax. During these unusual times, I’d say these deals are no longer available and a higher payment is to be expected.

One last thing: negotiate the price down then tell the dealer whether you want to lease or buy. Never discuss a monthly payment. It’s none of the dealer’s business what you are willing to pay. They should be indifferent. Edmonds has a good calculator for leasing that would help you get the fine print like MF and RV.

 

[MME in KC]

I leased my 2024 in November because the incentives were better for the lease, mostly because of the pass-through of the tax credit. Check for your region’s incentives at this time for both purchases and leases. ??

Same. I figured that with a 3yr lease, and the $7500, and additional discounts, it made the most sense.

 

[Doobster6]

My 2021 is back in the shop with battery or junction box issues for the 2nd time in 2 months so I'm thinking it's time for a trade in. I've never leased but starting to think with these types of cars it might be the better option. Thoughts on buying vs leasing? Does Ford offer a buy out in it's leases?

Looking at the 2024s, thoughts on anything with them? Any issues I should know about?

I leased my 2024 in July mostly because I think EV technology is advancing rapidly and in three years my very much loved Premium 4-Xt will be outdated due to what will then be regarded as too-slow public DC charging rates, shorter range, mediocre efficiency and perhaps even lacking in advanced features (perhaps AI driven?). And the concern there isn’t even so much that the car wouldn’t still be satisfactory for my use-case but rather that its market value will be in the tank. By 2035 I think this will be much less of a concern but for now, we’re all at the forefront of a technological transition. I wanted to have the option of handing back to the dealer a potentially obsolete car while also enjoying much smaller monthly payments during my time with it.

 

[mdpigroaster]

My 2021 is back in the shop with battery or junction box issues for the 2nd time in 2 months so I'm thinking it's time for a trade in. I've never leased but starting to think with these types of cars it might be the better option. Thoughts on buying vs leasing? Does Ford offer a buy out in it's leases?

Looking at the 2024s, thoughts on anything with them? Any issues I should know about?

I leased mine because the deal was better. My past vehicles were purchases. IMO it really depends on if you will be keeping it for the long term or if you get a new vehicle every 2 to 3 years (like me). Also if you plan on doing a lot of customizing to the vehicle then leasing may not be for you as you'll spend a lot of money without getting anything back. All leases, as I understand them, give you the ability to buy back the vehicle at the end of the lease. It can be negotiable at the end depending on the true value of the vehicle. When you lease, go with the lowest down payment you can with a monthly payment you can afford. Also the mileage limit is also something to keep in mind. If you drive a lot, purchasing may be better. The mileage factor will cause your payments to increase and if you exceed your mileage, you'll pay more at lease end.

 

[CameraCarl]

I leased my 2023 back in March because I wanted an EV, but with ever evolving technology did not want to buy something that was likely to be outdated in three years. I did not consider buying it then and would not buy one now. I just find the Mach-e to be too worrisome to want to own one. If it isn't any of the different 12V battery worries, it is software that gets hung up, or doors that don't open, or cold weather range anxiety, or worrying abut finding a charger when and where I need one, or worrying that my dealer's single EV tech will be available when I need a repair. It IS a fun car, but not one that I want to keep or will likely replace with another EV.

 

[Vgkfan]

New to the forum. Just leased a new 2024 Premium AWD extended range. MSRP was 54,090. With negotiations, discounts, and lease incentives, got it down to 38.5k. Money factor is 0.000229167, equal to .55% (almost zero). Put zero down with $373/month for 36 months.

That sounds like a fantastic deal to me. Curious how many miles you’re allowed?

 

[Side Show Bob]

New to the forum. Just leased a new 2024 Premium AWD extended range. MSRP was 54,090. With negotiations, discounts, and lease incentives, got it down to 38.5k. Money factor is 0.000229167, equal to .55% (almost zero). Put zero down with $373/month for 36 months.

Great deal! It’s all about the money factor! I tell everyone to go to YouTube and they explain the money factor so everyone can understand if it’s a good deal or not. Check it out.

 

[gutowscr]

That sounds like a fantastic deal to me. Curious how many miles you’re allowed?

12k miles.

 

[Vgkfan]

Thanks, i would have been all over that when I ordered my 22, but leases at that time made no sense at all.

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