Lease End Question Regarding Return or Buyout

[Wildcat_1]

All
I've leased Ford's for a long time but this time notice that they are mention an inspection service and an 800 number. Is this necessary or can you just take back to your dealer and have them take care of going over the vehicle etc ?

Again the only reason I ask is I haven't had to do this in the past

Thanks

WC

 

[Odrapnew]

While I don’t know if you can just bring it back now days, but when I leased a 2001 Ranger, I just brought it back to the dealer and they took a 5 minute look at it. Not sure if that’s changed.

Are you concerned about being “dinged” for any excessive wear or damage? If so, you probably want the “pre-return” inspection completed at least a few weeks ahead of time so you have time to fix them if you choose. I know with my Mazda and my wife’s VW, they both required an inspection before return…although I bought my Mazda anyway so the inspection was not needed.

 

[peterk9]

All
I've leased Ford's for a long time but this time notice that they are mention an inspection service and an 800 number. Is this necessary or can you just take back to your dealer and have them take care of going over the vehicle etc ?

Again the only reason I ask is I haven't had to do this in the past

Thanks

WC

I just checked out the 'End of Lease' procedure that is shown on my Ford Credit (Canada) account and it states, "Approximately 35-45 days before your lease is scheduled to end, you may be contacted by a vehicle inspection company* to arrange a date for your vehicle inspection. This inspection is a standard practice and recommended so that you will be aware of our assessment of Excess Wear and Tear on your vehicle. If for some reason you are not contacted about an inspection, contact your Dealer for assistance."
There is no 800 number shown. I wonder if I'm not contacted whether it will then be up to the dealer to do so or forego a 3rd party inspection. If I remember, I'll ask when I go in for service at the end of March.

Peter

 

[182RG]

They are going to inspect for this:

https://credit.ford.com/doc/wear_use_evaluator_card.pdf

Suggest you detail your vehicle ahead of time, just like you would do if you were going to sell it privately.

 

[peterk9]

They are going to inspect for this:

https://credit.ford.com/doc/wear_use_evaluator_card.pdf

Suggest you detail your vehicle ahead of time, just like you would do if you were going to sell it privately.

I saw that when checking out the return procedure but wonder why the dealer can't do that rather than bringing in a 3rd party. Perhaps it is to get an unbiased opinion but I would think that using the same 3rd party wouldn't necessarily prove that.

Peter

 

[MAbbottUSMC]

I was told by the dealer that they were letting too many thing slide and not dinging people for damage so Ford brought in an outside company to do the evaluations. Damage equals lower resale value.

 

[walterhudson]

Beware of the "third party". They work on commission and really go out of their way to screw you. The more they find wrong the more Ford pays them. These companies have been known to spend 2 to 3 hours inspecting one vehicle to find every possible problem. They even make up a few. My brother had to threaten to take them to court.
If you are going to lease or buy another Ford go to the dealer and make a deal. They will then make sure that you don't get screwed on your lease return. Especially if you tell them that you won't lease/buy the new vehicle if Ford trys to "ding" you too much on the return vehicle.
Better yet, my dealer had me buy my returning vehicle from Ford and then the dealer bought it from me. This is only a paperwork process for you. No money changes hands and it's done on the spot in about 10 minutes. This way I didn't have to worry about getting shafted by the "third party".

 

[peterk9]

Beware of the "third party". They work on commission and really go out of their way to screw you. The more they find wrong the more Ford pays them. These companies have been known to spend 2 to 3 hours inspecting one vehicle to find every possible problem. They even make up a few. My brother had to threaten to take them to court.
If you are going to lease or buy another Ford go to the dealer and make a deal. They will then make sure that you don't get screwed on your lease return. Especially if you tell them that you won't lease/buy the new vehicle if Ford trys to "ding" you too much on the return vehicle.
Better yet, my dealer had me buy my returning vehicle from Ford and then the dealer bought it from me. This is only a paperwork process for you. No money changes hands and it's done on the spot in about 10 minutes. This way I didn't have to worry about getting shafted by the "third party".

In order for me to buy it, I have to pay 13% tax on the residual plus have a safety and environmental check done on it in order to have it transferred (another fee) to my name. I don't see how this can be done legally in just 10 minutes with just paperwork. The government is going to want their $2500 in taxes from someone.
In any case returning it after 4 years with no more than 20K miles on it, I don't anticipate any problems.

Peter

 

[Riley]

I turned in a '11 Flex last year and was supposed to have the inspection done by the 3rd party. Ended up turning it in early and didn't have them do the inspection. The 3rd party ended up picking the Flex up 3 days later and I got the official letter stating no additional charges were necessary. Mine was spotless so I wasn't expecting any. So no, the pre-inspection is not mandatory. It simply allows you to correct any issues ahead of time before they charge you their prices after turn-in.

 

[dco43054]

Who is the leasing company? Do you intend to lease or buy another vehicle from the dealer? Will the dealer buy out the lease?

If you aren't returning the vehicle to the leasing company, you may have some flexibility. Otherwise, read your lease agreement. It may include language that calls for repairs of minor damage, replacement of tires with less than agreed to tire depths, etc.

 

[Odrapnew]

I will say my Mazda and my wifes VW we pretty much spotless when we had inspections and the inspections too about a half hour. You should be able to review the report before signing it and maybe discuss any issues you dont agree with.

 

[tinner]

The 35-45 day notice to Ford for the lease return should give everybody enough time to line up a ride home, could be a long cold walk home if not doing the Ford issues again.

 

[Wildcat_1]

The lease was through Ford Motor Credit and they mentioned Data Scan (I think) was the company that would line up to do the inspection. With such low mileage on this 13 Exp Ltd, I think I will wait to see what is coming in MY15 model and if no significant changes in Sport may just buy this one out.

 

[peterk9]

The lease was through Ford Motor Credit and they mentioned Data Scan (I think) was the company that would line up to do the inspection. With such low mileage on this 13 Exp Ltd, I think I will wait to see what is coming in MY15 model and if no significant changes in Sport may just buy this one out.

That is what I was thinking of doing as well until I figured out the costs, fees, taxes, inspections, transfer costs etc and figured that the cost of all that would almost take me about 30 months into a new lease.

Peter

 

[walterhudson]

In order for me to buy it, I have to pay 13% tax on the residual plus have a safety and environmental check done on it in order to have it transferred (another fee) to my name. I don't see how this can be done legally in just 10 minutes with just paperwork. The government is going to want their $2500 in taxes from someone.
In any case returning it after 4 years with no more than 20K miles on it, I don't anticipate any problems.

Peter

That's what happens when you live in a socialist country. Somebody has to pay for the entitlement society.

 

[dco43054]

That's what happens when you live in a socialist country. Somebody has to pay for the entitlement society.

 

[peterk9]

That's what happens when you live in a socialist country. Somebody has to pay for the entitlement society.

Are you saying you don't pay taxes on the sale of a vehicle? It is clear that you don't understand the term 'socialist'. We are a Capitalist country just like yours.
If you are referring to our healthcare then you are definitely off base. Having universal healthcare like every other industrialized nation (except the US) does not make Canada suddenly socialist, because that's not what socialism is.
I any case this has absolutely nothing to do with the topic of the thread.
I can only assume that the return policy is different in the U.S.

Peter

 

[tmg19103]

Back on topic to lease end questions.

I have never leased, but I can see the reason for doing it.

One question to Ford leasers. Generally when you first a lease a vehicle, and assuming you have nothing to trade it, you have to put a couple grand down to get a good monthly payment. When your lease expires - and if you are below you mileage allowance and have kept your Ford in great condition, can you trade up to a new vehicle lease without putting any money down - in essence making your existing leased vehicle your "trade-in" considering Ford can sell it for more than they expected to?

Know people who done this when going to another auto maker where I am sure they wanted to take business away form a competitor. Curious if people have been able to do this with Ford from lease to lease.

 

[blwnsmoke]

Are you saying you don't pay taxes on the sale of a vehicle?

There are a few states out there that don't pay sales tax. My state is one of them. So the only fees one pays is the title and paperwork fees on top of the price of the vehicle. When selling, there are zero fees except for the obvious registration fee that one pays each year on their vehicle.

 

[peterk9]

There are a few states out there that don't pay sales tax. My state is one of them. So the only fees one pays is the title and paperwork fees on top of the price of the vehicle. When selling, there are zero fees except for the obvious registration fee that one pays each year on their vehicle.

Thanks for clearing that up blwnsmoke. Each province here has their own provincial tax and the federal government has a General Services Tax (GST) that I believe is 5%. In Ontario they have combined the provincial (8%) with the GST so it totals 13% (Harmonized Sales Tax, or HST).
I pay the HST on my monthly lease payment but if I want to buy it at lease end, then I pay the HST on the residual value.

Peter