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"Ford Options" Mach-E Lease vs standard lease - similarities and differences

Maaki

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Would I be able to trade-in my current (RAV4) if I choose Ford options ?
 

jhalkias

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Would I be able to trade-in my current (RAV4) if I choose Ford options ?
I’m sure you could but that would be between you and the dealer. I don’t think Ford would care.
 
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I’m sure you could but that would be between you and the dealer. I don’t think Ford would care.
Yes that is correct. You can work that out with your dealer.
 

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Yes that is correct. You can work that out with your dealer.
Except that there's a cap on how much you can put down - $8998 on the Select, for example
 
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Except that there's a cap on how much you can put down - $8998 on the Select, for example
Yes, you're right, there is a max down payment on Ford Options (just like a lease). That's why I said work it out with the dealer. :D
 

jhalkias

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Yes, you're right, there is a max down payment on Ford Options (just like a lease). That's why I said work it out with the dealer. :D
Do you know if you can add more mileage to purchase beforehand like a lease? I drive about 31K a year. Or just do the max allowed if you are considering buying at the end anyway.
 
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Do you know if you can add more mileage to purchase beforehand like a lease? I drive about 31K a year. Or just do the max allowed if you are considering buying at the end anyway.
Additional miles may be added only at the time of vehicle sale when 19,500 mileage option is selected (eligibility varies by state). Check with your dealer.

If you're going to buy the vehicle out anyway then the mileage limit does not matter from a penalty perspective. But you could select the mileage based on how you want the buyout at the end to play out. For example, if you select really low miles option (7,500) you’ll have a lower monthly payment during the contract then your buyout will be higher (higher residual value). If you select higher mileage option (19,500) you’ll have a higher monthly payment during the contract then your buyout will be lower (lower residual value).
 
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opennetus

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Additional miles may be added only at the time of vehicle sale when 19,500 mileage option is selected (eligibility varies by state). Check with your dealer.

If you're going to buy the vehicle out anyway then the mileage limit does not matter from a penalty perspective. But you could select the mileage based on how you want the buyout at the end to play out. For example, if you select really low miles option (7,500) you’ll have a lower monthly payment during the contract then your buyout will be higher (higher residual value). If you select higher mileage option (19,500) you’ll have a higher monthly payment during the contract then your buyout will be lower (lower residual value).
I could see picking the lowest mileage Ford Options instead of a loan (when you are 100% committed to keeping the car), just to get a lower payment while still being able to retain a very good interest rate (which would be lost with a longer term traditional loan financing). The balloon amount at the end doesn’t matter since you can just refinance whatever amount it is into another low interest rate loan.

Though, if you typically drive a low/average amount like 10-12k a year, you might as well do a 12k since the monthly payment isn’t that much higher and you aren’t actually “losing” money (it is not a “fee”) since you will have a lower residual at the end. Guessing mileage accurately keeps your options open.

Are there “hidden” fees I am not aware of (if you keep the car) beyond the financing interest rate? Seems like, interest rate wise, Ford Options is no worse than a traditional (loan) financing for 48 months. The money saved from the lower monthly payments could just be placed into a 100% safe investment, like bank CDs, and then be used to pay the residual at the end. As long as that investment Income (minus income tax) is better than the loan interest rate, you are better off paying off the car as slowly as possible.
 

GoGoGadgetMachE

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When researching Ford Options, don't worry if the numbers seem to be a bit.. strange looking. They are supposed to be wavy. ;)

1593699805166.png
 

opennetus

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When researching Ford Options, don't worry if the numbers seem to be a bit.. strange looking. They are supposed to be wavy. ;)

1593699805166.png
it says the disposal fee is “waived with renewal” but I should think it also wouldn’t apply if you “retain” the car. My understanding is that the purpose of that fee is to clean out the car and other costs related to preparing it for sale to a new owner. If you are keeping the car at the end of the 36 or 48month term, they don’t need to clean the car.
 

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Good stuff. We’ve leased 4 Ford vehicles and I’m debating leasing the Mach-E. The main reason being just to get my feet wet in the electric vehicle world. Still have a Fusion hybrid under a lease for another 2 years. Never had a complaint and I like upgrading to a newer vehicle which perhaps the Mach-E will improve or slide me in to a GT 🤔
I have leased my last 2 Fords and I liked the way it works. I did a Consumer Reports survey and it said that I should lease because I like "the new shiny things." That rather applies here too. ;)
 



 









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