[RDale]

Ford is reportedly eliminating the end-of-lease purchase option for the Lightning, Mach-E and E-Transit.

Ford Credit will update new lease agreements in 37 states to specify "you do not have the option to purchase the Vehicle at the end of the lease term."

Was anyone planning on doing this with their Lightning?

Ford eliminates end-of-lease purchase option for EVs - Autoblog

Ford appears to have designated June as the month for realigning customer rights. A few days ago came word that dealers would be able to insert language int

www.autoblog.com

Ford appears to have designated June as the month for realigning customer rights. A few days ago came word that dealers would be able to insert language into sales contract for the F-150 Lightning prohibiting buyers from selling the electric pickup for one year after purchase. Dealers wouldn't need to do this, but they could. Over on the leasing side, Cars Direct discovered a letter Ford sent to dealers eliminating the end-of-lease purchase option for the F-150 Lightning, Mustang Mach-E, and E-Transit van. In the plainest language possible, Ford's new prohibition tells lessees, "you do not have the option to purchase the Vehicle at the end of the lease term." The change took effect on June 15 in 37 states and will be enacted in the remaining 14 states plus the District of Columbia by the last quarter of this year.

The automaker presents the change as a step toward its pledge of carbon neutrality by 2050 and an industry-wide effort to lower the MSRPs of EVs. The letter explained to dealers, "The purchase of the BEV Lease is to aid in our goal of delivering carbon neutrality by 2050 by controlling the vehicle battery through its life, keeping it in the Ford network," and, "Ford Motor Company is committed to making Battery Electric Vehicles (BEVs) more sustainable and affordable for our customers by localizing the complex battery supply chain network, creating recycling options for end-of-life vehicles, and increasing U.S. battery production."

Call us cynical, but these seem like rationales conjured to mask the real rationale when the leasing change inevitably went public. Ford isn't the only manufacturer to restrict lease options. Last year, GM and Honda began mandating that if lessees wanted to sell their vehicles, they had to sell them back to the automaker at the price in the lease contract, and this year, Tesla killed its buyout option in April. The only green justifications any of those automakers provided had to do with greenbacks and the Excel spreadsheet logo for the software CFOs use to keep track of said greenbacks.

Dealers and automakers have been watching consumers take home bundles of cash thanks to residual values established, in some cases, well before anyone had heard the word "Covid." On top of that, dealers are watching potential inventory go to the highest bidder at the same time they're struggling to get units for sale parked in front. By eliminating the end-of-lease purchase option, two birds get felled with one stone. If dealers and the inventory situation show positive returns from the move, we won't be surprised if more models are included in the prohibition.

 

[Leaf to Lightning : )]

I suppose there's a good reason for this, either because they can sell more vehicles if you have to then buy a new one, or it's because the average pricing for 3 year old vehicles is so high, they can make more money selling it a second time. This only applies to a Lease, though, not to the 'Options' plan, which is similar to a lease, although the Title remains in the owners name, and the owner retains the Tax Credit.

 

[Kirk]

rights. A few days ago came word that dealers would be able to insert language into sales contract for the F-150 Lightning prohibiting buyers from selling the electric pickup for one year after purchase. Dealers wouldn't need to do this, but they could

This information came out a lot more than a few days ago.

 

[fyrdude]

Everybody wants to be like Tesla. Would NEVER, EVER, EVER, LIKE EVER as Taylor Swift would say, lease a vehicle I didn't have the right to purchase at the end. Might as well just rent a car. I was going to do the flex purchase that was similar to a lease, but the terms were horrible. The lease offering was horrible as well, so just purchased it.

Tesla was the only game in town for 8 years. Demand, for the most part, has been higher than what they can produce. However, the times we're in today won't exist forever. Plus, with there now being viable competition, all of them are going to have to compete with each other. Tesla got away with highway robbery in many aspects, because they could. They also pissed off a lot of customers too that won't return. For now, they don't care because there are more lined up. That will change. In 2019, they couldn't sell enough cars and the prices plummeted for a short time as they were desperate to find buyers.

Supply chains will replenish, those waiting forever to get their cars will finally get them and the manufacturers will get caught up with demand. At which time, it will go back to who offers the best product, customer service for the best price. Tesla will be forced to compete with others for the first time. Ford is taking a step backwards in this respect. 2-3 years from now, there will be cars sitting on lots again with manufacturer rebates and incentives to get them sold, including EV's. The days of buying a new car and selling it for more than you paid for it will end. Strange times, but they'll balance themselves out eventually, they always do.

 

[ChasingCoral]

I'm not sure this poll will be accurate as most people are not leasing. Perhaps it needs an option for "I'm buying mine outright"?

 

[Ron]

All for nothing...there us NO lease option for Lightning

 

[fyrdude]

All for nothing...there us NO lease option for Lightning

My dealer offered me a lease option. As well as the flex pay option with a balloon payment that's supposed to be like a lease, but makes you the owner instead of Ford, so you can claim the tax credit. Generally, leases, and such a flex payment would be appealing on most vehicles because they offer less down and lower monthly payments, along with a very easy exit option. However, BOTH had higher payments than just a standard 72 month purchase with financing. Of course, declined both options. Made no sense to pay more per month, then owe some $35,000 to $40,000 at the end of the lease / flex loan. You're correct in they're "all for nothing" as neither one is worth considering and can't imagine any sane person being willing to enter a lease or flex loan under those circumstances.

 

[Ron]

True, I have locked a 2.59% with credit union, expecting delivery mid July