F-150 Lightning order almost ready but stuck with CCAP lease - thoughts?

Ask the Hackrs
1

I reserved an F-150 Lightning when it was first made available and finally Ford has scheduled my truck to be build end of October.

However, back in April, I entered into a 36-month lease for a Ram Rebel Diesel (great lease too - here’s a link to the calculator). I didn’t think Ford would convert my reservation to an order anytime soon, so I got the Rebel.

Current payoff on the Rebel is approx. $65K and the offers from Carvana/Vroom is a ridiculous $46K (for a 2022 Ram Rebel Diesel that had an MSRP of $75K six months ago).

On top of that, CCAP does not allow lease transfers.

Is there any backdoor way to transfer a CCAP lease? Any thoughts on what to do?

2

Get offers from some other places. Carvana has been quite low lately and vroom always sucks.

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3

Do get more offers for your Rebel as stated above.

Don’t keep your lightning. Depending on trim, your looking at 10-20k of equity.

4

Yeep! $809 a month for a pickup! Sell lightning and be stuck with dodge. Rebuy lightning at end of lease for half off.

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5

CarMax or local dealers - they’ve been giving good offers.

on the contrary local IL CDJR dealer has 4 raptors 22 used and they haven’t moved for the past 3 weeks so not sure how long they will be offering high valuations

6

Which trim on the lightning ? I have a reservation but I want the pro trim which is on back order

7

I ordered the Lariat trim

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8

I’m in a similar situation. Leased a 22 Ram Bighorn in December ‘21. Now I need a bigger cab (expecting a baby). CCAP dealer payoff is $47,xxx and dealer is only offering $38k to buy my truck. Feeling pretty stuck.

9

I’m getting ready to take ownership of a Ford Lightning, but first I need to buyout my existing lease and sell the car to a private party (CCAP doesn’t allow lease transfers).

When I buyout my lease, I will need to pay taxes (I’m in California). Will I be able to get those taxes back if I immediately (or soon thereafter) resell the car?

10

If you resell within 10 days AND the new buyer registers it in CA.

It’s stickier if the new buyer is not a dealer and doesn’t register it and takes it out of state.

11

10 days is tight. I don’t see how CCAP will even send my the title that fast… Any thoughts?

12

10 days from paying tax and getting the new title. Not 10 days from paying CCAP.

13

Ok, got it. Thanks very much :slight_smile:

14

Here’s a mega thread about it if you plan to do something different

15

This is awesome. Thanks so much!!!

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16

Do you already have a private party in mind? Are they paying that much more than a 3rd party dealer or a CDJR dealership? That way you could avoid all of the hassle.

CCAP allows 3rd party sales to dealers, etc…

17

2 months ago, you had about $20k in negative equity. Now, it’s probably even worse. Are you sure you want to buy it out?

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18

I will definitely try to go the dealership route first, although so far (based on Carvana, etc.), it doesn’t seem like it will work, whereas I do have some interest from private parties that get me pretty close to my lease buyout amount.

If I see that I’m losing too much money on the transaction, then I will back out of the Ford Lightning purchase (although with the Lightning, if I drove it around for a year and then sold it, I could probably sell it for more than I bought it, given the demand and low supply)

19

The way things are going probably not

20

It sounds like your truck is worth less than most places will pay. You’re likely stuck with it

Lighting’s have been popping up at MSRP, not sure if they’re one-offs that customers have backed out of.
But I wouldn’t gamble on a lightning being worth more than MSRP in one year

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