Buyout now Before Interest Rates Go Further Up?

[JeremyMarut]

Hello,

My F150 lease ends September and I’m very ready to pounce on the buyout given it looks like I’m going to be $6-9k under conservative value.

My question for advice is should I jump on a loan now before the rates go even higher? I’ve got superb credit, but the rates are already eye opening to me.

TIA

• JAM

[SSB-LA]

You can try a Personal Line of Credit which would lock the interest rates and you would not start accruing interests until you draw from it. I did it a few months ago and the process to set it up took about a month.

[jeisensc]

@JeremyMarut

My question for advice is should I jump on a loan now before the rates go even higher?

Yes 101010

[max_g]

An equally large concern is staying with Ford Credit’s 120- or 90-day window. Before they start making you jump through hoops to buy your own lease

[Pad18]

Yes take a loan now, and if/when rares are going down again just refinance it.

[trism]

@JeremyMarut

should I jump on a loan now before the rates go even higher? I’ve got superb credit, but the rates are already eye opening to me.

What is an appealing rate/term combo, and where are you looking?

This may not apply to you, but I’m asking because I see a lot of people talk about how they went to “their bank” or “their credit union,” and never took a few minutes to look at the million other options that are out there.

[harrydogyo]

The Best Finance Rates & Hacks! Submit your CU recommendations!

Sometimes it can be better to finance a car rather than lease it! Some of the reasons this may be true include: Federal EV credit - some lease originators may not pass the full Federal EV credit or state credits. Through financing or balloon loans (another type of financing, you can take advantage of these credits if you have the tax liability) High Lease Money Factor - some lease originators have a very high money factor, higher than what it would cost to lend from another bank! Combined …

[Andrew_R]

Don’t forget the tax as well, but you will probably end up ahead

[JeremyMarut]

Thanks, I don’t even know my options yet, just starting, but the rates skyrocketing got me shaking.

[JeremyMarut]

I’ve seen mention of this but don’t see the fine print. Would you be kind to elaborate about this 90-120 day window, my 120 day starts on the 24th…

[Chevvy894]

I found this post helpful

My experience ending a Ford lease

Today I ended my Ford lease and got myself some positve equity out of the deal. For those looking to end your Ford lease, here is what I did… I had a 2019 Ford Edge. My lease was up March 5th. Ford has what they call a 120 day rule. From what I was told, if you are within 120 days from the end of your lease, only you are able to buy out the vehicle. For me, the 120 day rule would have applied after 11/5/21. Since I was outside of this 120 day window, I was able to sell to any Ford dealer, or bu…

[EC99]

@trism

This may not apply to you, but I’m asking because I see a lot of people talk about how they went to “their bank” or “their credit union,” and never took a few minutes to look at the million other options that are out there

This ^. Depends on a few factors but assuming good credit the rates from PenFed and DCU aren’t actually that bad. Certainly not like mortgage rates which have doubled in less than 6 months. If you are willing to open open a free DCU account I’m seeing rates below 3% for up to a 65 months loan.