Last post on May 22, 2013 at 4:25 AM
You are in the Ford F-Series
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Ford F-150, Ford F-250, Ford F-350, Car Leasing, Truck
#145 of 209 Question about negoiating a price.
Aug 29, 2009 (2:24 pm)
Hi, I'm interested in this truck: http://tiny.cc/qwf8A
This dealer is a credit union who keeps the nice vehicles that get returned from a lease. In some cases the vehicles have been leased twice...
My question is, what should I offer them for it? Here is my rationale.
1. the truck has likely been paid for once by the guy who was "fleased" by the lease
2. These vehicles will eventually be sold at auction if the credit union does not sell them
3. These trucks have been depreciated... this one by 5 years...
So, what should I offer? What would a truck like this fetch at an auction in Michigan? Do I have any leverage with the bank if I ask them to look at the books and see just what they need to get for it to pay off the residual value?
I am looking for some help. I need a truck, dont want to buy new, but want some negotiating power wiht the bank who owns it..
Please reply especially those with this kind of experieince either negotitating to buy or on the banking side of the sales business..
#146 of 209 Re: Question about negoiating a price. [redwing_al]
by kyfdx HOST
Aug 30, 2009 (9:36 am)
I couldn't get your link to open, but it isn't really relevant, anyway...
As far as the three points you brought up? None of that matters. Just like any other car dealer, the credit union has an asset for sale. The only thing that matters is what that vehicle is worth on the open market. Where that truck came from, it's leasing history, or anything else won't change what it's worth.
Now.. your credit union may not be all that savvy of a car dealer, but if they are doing leases, then chances are... they know what they are doing. They may take less than a comparable used car lot, but they certainly aren't going to sell you the car for the same that they would get wholesaling it at auction.
So... determine what the market is for that truck, decide on a price you'd be happy to pay, and go offer them a thousand less... and see what happens.
#147 of 209 Re: ford lease end problems //nightmares [cheatedtoo]
Sep 24, 2009 (6:54 pm)
I find it hard to believe you leased 13 vehicles in 10 years but irregardless you should have signed for Wear Care. Wear Care would've waived any and all damages.
Of course ANYONE who leased 13 Ford vehicles in 10 years should have figured that out after about the 3rd or 4th time of getting "cheated." Or maybe you treat your leased vehicles like you own them. Unfortunately, you do not. Lesson learned.
#149 of 209 Re: ford lease end problems //nightmares [redwing_al]
Sep 27, 2009 (7:41 pm)
Unless you are leasing for business purposes where it cant be a write off on your taxes, nobody in their right mind should ever lease.
I strongly disagree with you. There are many advantages to leasing. I leased a 2007 Ford Edge SEL Plus, MSRP $33K for $349 a month/ 36 months with ZERO down. I saved over $6,000 in car payments by leasing it instead of buying it. Do you honestly think I would be $6K ahead if I would've bought it and traded it in after 36 months? No chance. This is my 5th lease and I never have had a bad experience. I save at least $150 a month leasing and that really adds up. It allows me to drive cars that would normally be way out of my price range. You just have to do your homework and not be a victim of shady dealers.
#150 of 209 Leasing a Ford truck
Oct 02, 2009 (9:41 pm)
Hello, new member here. I was wondering if Ford leases the F350. I need a duely to pull a 4-car hauler. If yes, what engine and drivetrain specs do you recommend?
Thanx. BTW, what is the price range of the lease? I just need the bare essentials.
#152 of 209 Ford Leasing Judgement
Dec 07, 2009 (1:09 am)
Need help and advice. I leased a 2005 Ford F-150 FX4 package fully loaded, shortly after my wife and I seperated in Southern California. At that time, my credit was fair enough to not need a co-signer. Still payments were over $600 per month but I was making good money at a company I had been at for over 10 years. Shortly after (3 months) I lost my job. I had planned on moving back to Northern Illinois where I grew up, both the sales person and leasing manager were fully aware of this before anything was signed.
Ok, let me just get to the point. I was unemployed for 6 months and when I got a job here, I was only able to get pretty much minimum wage with the economy. I was however able to keep up with payments. It was eating about 70% of my disposable income between gas and insurance though. I loved the truck and called the 800 number several times to explain all of this and would it be possible to opt out of the lease, and get financing to buy the truck. The 800 # told me should not be a problem as my credit with them was in great favor. Just had to go to the dealership and work it out. 3 dealerships and pretty much got the run around. The dealerships also refused to honor my lease contract.
Out of frustration and after calling the 800# again, I turned the truck in 12 months early being told and understanding I would owe the remaining 12 months lease and an early termination fee of about $1000.00 I was ok with this. The dealership I returned it to refused it because of a defective odometer (by the way I had not driven the truck for about a year, so this is not an excessive mileage issue) I figured it may be a fuse, but was threatened by the service manager that my lease contract warranty would not cover this. It was my understanding that my no questions warranty was bumper to bumper and included tires at no cost to me. The service manager said it could cost as much as $4000.00 to fix odometer.
Needless to say I am very disgusted at this point, the dealership did not even notify Ford for 3 weeks that the vehicle was turned in at their dealership. Turns out the odometer was their mistake, faulty something. 6 months went by till Ford sent me a bill for more than $15,000.00. I do not understand any of it, including a reposession fee, even though I voluntarily turned it in. It was in imaculate condition with low miles and about 3 years old, worth high $20k- low $30k, they however dumped it at auction for $15,000-
I go to court for jury trial next month, please help. I can't afford a judgement for the full amount. All I wanted from all this is a fair judgement amount and after the economy situation and Federal Bailout for the automotive groups, what gives Ford the right to attack me and my credit? I live paycheck to paycheck right now, but would be willing to settle for about $4K-6K, which is more then fair with the crummy service and atitutude I received at the dealerships.
Any help and advice would greatly be appreciated. Thanks !!
#153 of 209 Re: Leasing a Ford truck [gekko13]
by Car_man HOST
Dec 07, 2009 (4:38 am)
Hi gekko13. Unfortunatgely, Ford hasn't provided lease support on any F-Series pickups in a long time. As a result, it really doesn't make sense to lease one. You may want to consider financing through Ford Credit instead. You can finance a 2010 F-350 at 2.9% and a 2009 model at 0% for 5 years right now.
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