Buy it at lease end?

Discussion in 'Fiesta ST Chat and Discussion' started by Gpfarrell, Jan 12, 2015.

  1. Gpfarrell

    Gpfarrell Member

    My little blue friend is coming up on his first birthday and so far I'm handily impressed. I've got as many cars as I have fingers, so I really really didn't need another... but was smitten by the ST and thought a 2-year fling was in order.

    Now half way into it, I'd like it to continue! I'm 44 years old with 3 kids, an understanding wife, and a great profession. While the ST usually isn't my "take a client to lunch" car, it excels (accells?) at so many short errands and regular commutes that I'm thinking of keeping it when my lease is up.

    It's a fully loaded car that stickered at $26,xxx if I recall. The buy out on my contract at lease end is $17,xxx. According to Manheim, many '14s are already selling in the $17k range at auctions now. Hmmm.

    So... speculating that perhaps they'd be in the $15k range by January 2016, how likely is it I could buy my car back for less than the price on my contract? I've got a 10,500 mile/year lease and its only got 5300 on it now. Unless I enter the OneLapofAmerica (it's been years since I did that!) I think my car will only have 10-11k on it when the lease is up. I'd rather not mention to Ford how low the mileage is while I'm negotiating the buy out! (And I could theoritcally run it up to 21,000, so I don't think its unrealistic to base its value to Ford on that mileage).

    Any lease gurus here that can help?

    Thanks!
     
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  3. razorlab

    razorlab Active Member

    You entered into a contract that has a specific residual amount written.

    However you can negotiate a price with them, as selling it to you is easier then taking the car back and selling it themselves.
     

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