Recently signed a deal on a 2018 F150 Lariat on Thursday. I meant to do a 15,000 mike lease but we did debate between 13,500 and 15,000. We settled on 15,000 but when I looked at the paperwork yesterday I noticed they did only 13,500.
I called the dealership yesterday and the finance guy swears that I said to do 13,500. I asked him if we could change and he said he already turned it into Ford and I would need to call them.
Just curious, if anyone has had similar issues and if they can change the residual and rework the payment on the mile change or if I’m SOL and going to have to pay the $0.25 per mile on the 4,500 miles.
You may want to check the Math between paying the .25 on 4,500 ($1125) and lower Residual Value/added cost per month. It will certainly be lower, but you might be surprised how close they actually are. And if you were debating anyway, might be worth the extra few hundred to gamble, and if you don’t use the miles, you just saved that much. Thank me or hate me at end of the term. Most (not all) tend to over estimate mileage when lease purchasing, and it’s basically like throwing money out the window. And don’t forget about Ford “Early Bird” options, which could get you into a new Lease a few months early, just around the time when you hit your mileage limit.
Thanks! For us the lower residual would be 1% of a $54,000 MSRP. So we would save money… However, that a good point about the early bird. Also, we think the way trucks hold their value, we might have an equity position in the end.
Our residual is $32,484 and on NADA a similarly equipped 2015 (3 Year Old) F-150 Lariat with 45K Miles has an average trade-in of $34,850. Adding into account for the $395 disposition fee, anything above $32K on trade in would be smarter than turning in. I guess its a gamble, but in the end its only a $500 gamble over the lower residual amount so not a huge loss if it doesn’t work out in my favor.
Yep, I would (and did) take the gamble myself and will on all future leases. I typically drive around 12k miles like clockwork, but only signed a 10.5k miles on this last one. Sure enough, I’ve already banked 1k miles, based on were I should be at 4 months in. If it works out, I basically got/saved one Free Lease payment by underestimating. I wouldn’t count on any Lease equity though, Ford will have a complete re-design out by the time your term is up, a very significant re-design at that, and previous generation models typically tank in values. The '15 you reference is still the current design (1st year), that won’t be the case in 3 years. But that “Early Bird” will be a great way to side-step any overage miles.
Ford typically doesn’t do major redesigns but about every ten years. They may make changes to the design like the 2018, but I don’t see them doing a full body overhaul in the next 3 years.
I had thought it would be the 2020 model year. But word is on the F150 forum that the 14th Gen. will be Introduced at the 2020 DAS (Detroit Auto Show) as a early release 2021 model. Which would be the longest cycle (6Years) since the 10th Gen. Orders will start in Feb. of 2020 with deliveries around May of that year. Ford has basically used the same design architecture since the 11th Gen., simply because both Ram and GM have been very late to re-design, Ford didn’t need to do anything drastic (outside of the switch to Aluminum, Ecoboost engines, and a 10speed). But now with Ram nailing it with their redesign, and GM offering a all new truck, the 14th Gen. will be a big one for Ford to keep market share. Really interested to see what they come up with. But 22 months from today, we will be able to buy a new Re-designed truck.
|1|First generation (1948–1952)|
|2|Second generation (1953–1956)|
|3|Third generation (1957–1960)|
|4|Fourth generation (1961–1966)|
|5|Fifth generation (1967–1972)|
|6|Sixth generation (1973–1979)|
|7|Seventh generation (1980–1986)|
|8|Eighth generation (1987–1991)|
|9|Ninth generation (1992–1997)|
|10|Tenth generation (1997–2003)|
|11|Eleventh generation (2004–2008)|
|12|Twelfth generation (2009–2014)|
|13|Thirteenth generation (2015–present)
I guess I looked at the 2004 - 2014 to be just restyling changes instead of new generations. Oh well… If Ford is planning that though, I wonder why they have such strong residuals on the 2018’s knowing that prior to the expiration they will lose quite a bit of value with a complete overhaul?
They have no choice but to pad the Residuals to compete and move metal. They are not about to give up market share. Same with what Ram is doing with their '18 trucks. They have to give them a bunch of support just to move them off that lot when they are sitting next to that fancy new '19 model. Still hundreds of thousands of them sitting on dealers lots across the country. But trucks do hold their value as well any any other vehicle on the road, outside of those weird vehicles that are very sought after (Toyota FJ Cruiser as an example, I am seeing examples with 80k miles sell more than the new sticker price was?). So losses will be insignificant and can always be written off.
um… that early lease turn in for ford pro-rates the miles based on the months left so no that would not work out for him, everything else you said is spot on though and I couldn’t agree more.
Also some trucks hold their values well, the xl or xlt trims for example would hold their values well, once you start getting into the lariat/king ranch/platinum/limited trims they don’t hold their value as well for example the 2016 f150 platinum we leased at an msrp of 65k with a cap cost of 55k which has only 25k miles after exactly 24 months has a trade in value of roughly 44k, compared to an xlt which may have only lost 5-8k, conversely to add to your point a 65k mercedes or bmw might be only worth 38k after 2 years.
in terms of the next generation truck I would expect stuff like heads up display, autonomous driving features, more camera’s/sensors etc etc, drop more weight as well as increase payload/towing capacity with supplementary electric motors, adaptive headlights that provide more light on those dark winding rural roads, probably an upgrade to the massaging seats in the higher trims, led headlights and tailights throughout all trims ( dont have to spend 55k on a f150 to get them anymore) and for the most part I would expect a whole lot more technology to be shoved into the truck thus inflating it’s price.
Yep, I would say thats a good start. I have heard that a complete frame Re-design is in the works, with far more Aluminum (yes, aluminum in the Frame). I would also expect the current V8 will be dropped, and Hybrid options tossed into the mix. I’m not sure what they will come up with as far as the Rear Suspension, but i’m guess something new and vastly improved. Somethings they have GOT to change, is the problems and design of that atrocious panoramic roof, and c’mon Ford, offer “4A” in your lower trim trucks.
yeah it would be nice if they could make the gap between the panels smaller or look better but in terms of design and how it looks it’s not too bad in my opinion, the leaking and other issues on the other hand need to be fixed asap, aluminum isn’t as bad as people think it is but yes I would expect more aluminum to trim down that weight, I doubt they drop the 5.0 V8 so quickly but I do expect cyclinder deactivation if they keep the v8 so that they can adhere to the governments fuel efficiency ratings, other than that I would believe they add mostly technology into the truck at this stage, I’m not sure how much more you can do with the pickup at this point besides efficiency and technology. yeah it would be nice if you didn’t have to spend 50k to get a truck with 4a, led headlights, etc etc, maybe more options to customize the truck on the lower trims?
I would guess the new '19 Navigator is the general design/aesthetic direction going forward. Far more minimalist, multiple pallet color combinations, with toggle style switch gear, and far superior soft-touch materials and trim, even on the lower end models. The panel gaps on the Navigator is also better than anything I have seen from Ford, so thats a good sign. Also hopeful for an advanced electronic adaptive rear suspension, if they can keep costs down, and the F150 has the volume to do that. I just hope they keep the rugged boxy style, and not go backwards to a curvy 10th gen similar body shape. I don’t want a front end that looks like a super-sized Escape.
yeah I actually like the boxy design of this generation, not really a fan of curves on the pickup trucks. Yeah I would imagine a lot of soft touch materials and the piano key or dial shifter makes its way to the truck to clear up more space in the front console area but still not need to resort to a column shifter which sets the truck 10 years back.
