Ford Options transfer?

[voxel]

I recall discussions in the past about being able to transfer the remaining Options loan/contract to a new owner. Is that still possible?

My brother is in need of another car (with teen about to start driving, etc) and I thought about transferring the remaining 15-ish months of my Options loan to him and maybe that would get him hooked on EVs.

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[thenew3]

I did that last summer. My brother was an early adopter of MME. He had a 2021 Job 1 (built in December 2020) on the ford options plan. His F150 lightning came in about 1/2 year early so he was about 2.5 years into the 3 year "lease". My son was getting his license so we needed another car. I took over the "lease" from my brother. I paid it off in full though. He called Ford credit and got the pay off amount. I sent Ford a check for the pay off amount (which included the last 7 or 8 regular lease payments). About a month after that, he received the title from Ford and signed it over to me.
He then filled out some paperwork at the selling dealer to transfer the extended warranty to me. I had to pay dealer $75 for the transfer fee.

 

[markboris]

I did this with my first Mach-E. Transferred my Ford options plan to my friend who took it over. Monthly payments and everything stayed the same. There may have been a very small transfer fee like $150 but don’t remember. It was more than 2 years ago.

 

[voxel]

I did this with my first MME. Transferred my Ford options plan to my friend who took it over. Monthly payments and everything stayed the same. There may have been a very small transfer fee like $150 but don’t remember. It was more than 2 years ago.

Yeah this is exactly what I want to do and gives my brother 12+ months to decide whether he wants to buy it out. Do you recall if your friend had to pay sales tax again?

I am still pushing for my brother to take the Grand Cherokee but the sister-in-law is nix-ing the idea. Booo.

 

[thenew3]

Yeah this is exactly what I want to do and gives my brother 12+ months to decide whether he wants to buy it out. Do you recall if your friend had to pay sales tax again?

I am still pushing for my brother to take the Grand Cherokee but the sister-in-law is nix-ing the idea. Booo.

Sales tax is up to your local tax laws. Some will require it, some won't.

In CA, a transfer would require sales tax again, but there's a work around. Transfers between parent/children do not require sales tax. So I had my brother transfer it to my father, who then transferred it to me. We just had to pay the DMV $15 transfer fee each time (total of $30). Saved about $3k in sales tax.

 

[RickMachE]

Yeah this is exactly what I want to do and gives my brother 12+ months to decide whether he wants to buy it out. Do you recall if your friend had to pay sales tax again?

I am still pushing for my brother to take the Grand Cherokee but the sister-in-law is nix-ing the idea. Booo.

Many states allow an in-family transfer without tax.

 

[markboris]

Yeah this is exactly what I want to do and gives my brother 12+ months to decide whether he wants to buy it out. Do you recall if your friend had to pay sales tax again?

I am still pushing for my brother to take the Grand Cherokee but the sister-in-law is nix-ing the idea. Booo.

I live in CA. He lives in AZ. He did not have to pay any thing except a small transfer fee to Ford then to register the car at the AZ DMV.

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