cjljr41

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I can't speak for all leases, but my Ford Escape lease agreement shows two different numbers for residual value and purchase price. They differ by $500.
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hybrid2bev

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I have an embarrassingly dumb question since I've never intended to buy out a lease before but might on the MME: Is the lease residual the price the same as the amount you'd have to pay to keep the car, or is the residual lower than the purchase price?
I went and pulled out my lease agreement to confirm my thoughts. No, the residual value and the agreed purchase price are not necessarily the same amount. There is a specific line on the contract that discloses the purchase price at the end of the term. In my case the purchase price is $500 higher than the residual value (this is built in fee amount for the dealer to facilitate the purchase).
 

s7davis

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I went and pulled out my lease agreement to confirm my thoughts. No, the residual value and the agreed purchase price are not necessarily the same amount. There is a specific line on the contract that discloses the purchase price at the end of the term. In my case the purchase price is $500 higher than the residual value (this is built in fee amount for the dealer to facilitate the purchase).
Good to know I will take a look at my Alfa Romeo lease and see what it states I thought the residual was all you probably had to pay. I am sure their are a few more fees tacked on for another document, admin fees and so on like buying a car.

Either way I am not keeping the Alfa going to either return it or use it as a trade in will see how the mileage stacks up and what the resale value is as I get closer. I know trading a lease in is not a viable situation but I think if it is near the end of the lease will not be as bad; as what you owe on lease will pretty much be all paid off except maybe 1 or 2 months then what the car is worth - the residual I would think.
 

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I can't speak for all leases, but my Ford Escape lease agreement shows two different numbers for residual value and purchase price. They differ by $500.
I went and pulled out my lease agreement to confirm my thoughts. No, the residual value and the agreed purchase price are not necessarily the same amount. There is a specific line on the contract that discloses the purchase price at the end of the term. In my case the purchase price is $500 higher than the residual value (this is built in fee amount for the dealer to facilitate the purchase).
Thanks!
 


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This morning (24 June), I received a call from the sales manager at my local dealer in VA. He told me I could login to the Ford website on the 26th and confirm my order. He added the $500 reservation fee would be returned and I would be asked for another $500 order fee. Interestingly, he noted the price would be MSRP, and there would be no dealer markups at his location. Additionally, he mentioned he doesn’t anticipate his dealership having any to “test drive” before ordering or finalizing the sale. Lastly, he said they have 14 reservations at his dealership, and that Ford would soon be providing training and maintenance info to their team. My Reservation:
Mach-E Premium
Premium Extended Battery RWD
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This morning (24 June), I received a call from the sales manager at my local dealer in VA. He told me I could login to the Ford website on the 26th and confirm my order. He added the $500 reservation fee would be returned and I would be asked for another $500 order fee. Interestingly, he noted the price would be MSRP, and there would be no dealer markups at his location. Additionally, he mentioned he doesn’t anticipate his dealership having any to “test drive” before ordering or finalizing the sale. Lastly, he said they have 14 reservations at his dealership, and that Ford would soon be providing training and maintenance info to their team. My Reservation:
Mach-E Premium
Premium Extended Battery RWD
Infinite Blue
Where in VA are you located? Nice that your dealer is on the up-and-up!
 

dbsb3233

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This morning (24 June), I received a call from the sales manager at my local dealer in VA. He told me I could login to the Ford website on the 26th and confirm my order. He added the $500 reservation fee would be returned and I would be asked for another $500 order fee. Interestingly, he noted the price would be MSRP, and there would be no dealer markups at his location. Additionally, he mentioned he doesn’t anticipate his dealership having any to “test drive” before ordering or finalizing the sale. Lastly, he said they have 14 reservations at his dealership, and that Ford would soon be providing training and maintenance info to their team. My Reservation:
Mach-E Premium
Premium Extended Battery RWD
Infinite Blue
Did he give any indication of what would happen if you want to back out at the last minute? Like for instance, let's say your Mach-e arrives in Feb and they call you to finalize the sale and pick it up. But while they (presumably) let you see it and sit in it while there, you realize "Crap, I don't like XXX on this thing! Or YYY!" and decide not to buy it.

Can you still say no at that point? Will you lose the $500 deposit? Or do you have to finalize the sale before the car even shows up?
 

Haynes

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...but doesn't include info for the GT.
GT is probably going to be announced later in the year. It isn’t expected to hit the ground until late 2021.
 

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Did he give any indication of what would happen if you want to back out at the last minute? Like for instance, let's say your Mach-e arrives in Feb and they call you to finalize the sale and pick it up. But while they (presumably) let you see it and sit in it while there, you realize "Crap, I don't like XXX on this thing! Or YYY!" and decide not to buy it.

Can you still say no at that point? Will you lose the $500 deposit? Or do you have to finalize the sale before the car even shows up?
My dealer contacted me to let me know what is happening with them. They will not ask for a dealer markup and do not require a deposit. They don't have any timeline on when they will get a car to test drive, but probably not before October. As far as refusing the car I order when it arrives, no problem. They expect they will be able to sell it easily. They have 25 reservations. Verified that the order of reservation placement determines the order that reservation holder gets a car. So my number 4462 puts me first on their list. He also thinks that Premiums will start arriving before First Editions.
 

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My dealer contacted me to let me know what is happening with them. They will not ask for a dealer markup and do not require a deposit. They don't have any timeline on when they will get a car to test drive, but probably not before October. As far as refusing the car I order when it arrives, no problem. They expect they will be able to sell it easily. They have 25 reservations. Verified that the order of reservation placement determines the order that reservation holder gets a car. So my number 4462 puts me first on their list. He also thinks that Premiums will start arriving before First Editions.
That seems odd, unless it's premiums that have lower reservation numbers / order dates.
 

FredT

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That seems odd, unless it's premiums that have lower reservation numbers / order dates.
He doesn't know, obviously, but he reasons that production would start with premiums, as those would be the ones going out to dealers.
 

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This morning (24 June), I received a call from the sales manager at my local dealer in VA. He told me I could login to the Ford website on the 26th and confirm my order. He added the $500 reservation fee would be returned and I would be asked for another $500 order fee. Interestingly, he noted the price would be MSRP, and there would be no dealer markups at his location. Additionally, he mentioned he doesn’t anticipate his dealership having any to “test drive” before ordering or finalizing the sale. Lastly, he said they have 14 reservations at his dealership, and that Ford would soon be providing training and maintenance info to their team. My Reservation:
Mach-E Premium
Premium Extended Battery RWD
Infinite Blue
did he mention anything about xplan?
 

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This morning (24 June), I received a call from the sales manager at my local dealer in VA. He told me I could login to the Ford website on the 26th and confirm my order. He added the $500 reservation fee would be returned and I would be asked for another $500 order fee. Interestingly, he noted the price would be MSRP, and there would be no dealer markups at his location. Additionally, he mentioned he doesn’t anticipate his dealership having any to “test drive” before ordering or finalizing the sale. Lastly, he said they have 14 reservations at his dealership, and that Ford would soon be providing training and maintenance info to their team. My Reservation:
Mach-E Premium
Premium Extended Battery RWD
Infinite Blue
Which Ford website do we login to on the 26th?
ford.com
Ford pass
Fleet
Something different?
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