Thinking Of Buying Out Your Ford EV Lease? Think Again!

One of the perks that everyone loves when shopping Ford F-150 lease deals is the ability to buy out the lease and own the pickup truck outright. This gives drivers the option to drive a Ford vehicle for a few years and then either upgrade it to a newer model or purchase it and keep it a little longer.

This buy-out perk may not be available much longer. What does that mean for the current Ford F-150 lease deals? It’s hard to say, but here’s what we know:

The Old Way To Lease

Typically, Ford F-150 lease deals would spell out a purchase price for the truck up front. You know how much it will cost to own that pickup truck before you even take it home. Even though most leases are returned for an upgrade, some people like being able to own the vehicle after driving it for a while.

Unfortunately, the current auto market is anything but typical. The lack of available new cars from the factory and increased competition for used cars put leases in an interesting position. Dealers set the purchase price when the lease is signed, which means they have to make predictions about the market.No one expected a global pandemic and the current upside-down car market. Someone who explored Ford F-150 lease deals several years ago is in a great position. The price they originally agreed to was fair back then. Today, it’s well under market value, which is amazing for car buyers.

Changes Could Be Coming

According to an alleged leaked letter from Ford leadership, there will be a new arrangement when it comes to leases. According to the letter, Ford dealers in the majority of U.S. states will change their lease agreements to prevent lessees from buying their cars at the end of the lease. The letter seems to focus on new electric vehicles like the Mach-E, F-150 Lightning, and E-Transit; it could have wider implications.

A move like this is meant to help Ford and its dealerships if prices keep rising. It would also ensure that there is a steady supply of used vehicles coming back to dealerships after their lease terms are complete. The alleged letter claims that this move isn’t about money or supply but is about helping the company go carbon neutral by 2050 and controlling EV batteries during their lifecycles.

Ford isn’t the only automaker looking to make this move. Honda already has some new restrictions on leases, such as only being able to see the lease to a Honda dealership, and GM is considering similar changes. There was even a little conflict after several Nissan dealerships attempted to alter lease terms after the fact. These moves were immediately rebuked by Nissan’s corporate team.

Check the Details of Your Auto Lease

Those looking for Ford F-150 lease deals still have plenty of options, and the proposed changes only seem to impact EVs. Either way, shoppers should make sure they read the terms of their lease and understand the implications before signing the dotted line.