Unfortunately, not a fantasy, sunshine. Just trying to teach you kids how the world actually works. Funny how the dealership signed the contract but had no idea about this concept? I call BS.
Are you a lawyer? Are you representing anyone in regards to this case? Do you have common law knowledge or historical precedence (i.e. previous court rulings) on this?
You should not speak in such definitive terms as an anonymous individual on the internet.
Dealers make basic mistakes every day, even ones that have been in business with those manufacturers for decades. Itâs nothing new. We do not know the full details of what transpired between the dealer and the buyer.
@mllcb42 is correct in pointing out that this was an independent franchise and not an agent of FoMoCo or Ford Financial that conducted this transaction.
Either way, what has OP decided to do? Any input going forward from the community is just speculation without knowing what OP is actually doing about the situation or if theyâve even reached out to real and legal counsel.
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As always these threads all end the same way. The OP slinks away after realizing they need to decide whether to retain a lawyer to fight the legal battle or give up the POS thatâs not worth fighting over.
Meanwhile fantasists like @pony_trekker reveal themselves to be entirely deluded about their legal skills.
This was fascinating
/s
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I have a question.
My brother in law has a leased truck through Ford Motor Credit.
I have reasonably good credit and want a truck, and he canât afford to keep it when the lease ends in a couple of months.
I know they wonât do 3rd party buyout, but would the original dealership be able to sell it to a 3rd party if that 3rd party isnât another dealership but an individual who finances through them?
Letâs say itâs a 2019 F150 Ecoboost 2.7 with a lot of options. The TC/Vroom value is $34000 but the buyout price is $27k. Lease ends early January so itâs within 120 days.
I am willing to finance with them, with $7000 down payment and a middle FICO of 705. Would it be possible or would FMC block it?
Is it possible the dealer will try to charge me more than the buyout price?
Buy the truck directly from the dealership. Finance the amount for the Purchase Option Price as stated on his Red Carpet Lease Agreement via loan. With the market for used vehicle demand being so high, the price in the lease agreement will be the lowest you will see.
The dealer has very little motivation to do this, as your familiar relationship is irrelevant. Youâre basically asking them go take the car in and then resell it for significantly under market.
IMO The easiest way is to do lease transfer into Your name but I am not sure if this is not too late. It cost just $75.
Call Ford Motor Credit and see if you can still do it.
While this is somewhat true - they still win on the financing and will tag on their dealer fee to the purchase, no?
Those are a wash though; theyâre getting those either way. Youâre basically asking them to sell this to you for thousands of dollars under what they can turn around and get for it a day or two later. Why would they do that?
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Im not sure I follow. How is it a wash - isnât a dealer fee + financing better than no deal at all?
Does the dealer get first dibs on the car at the payoff price if it gets turned back in, or does FMC get it back and send it to auction? If its the former then I completely understand your point - but I always thought it was the latter.
Yes, dealer gets first dibs. Theyâll just sell it to the next guy that walks in the door for thousands more plus get their dealer fee and financing.
The most cost effective strategy here would be for your buddy to request a lease extension and then transfer the lease to you so you could buy it out directly.
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Moved your posts to this thread.
Read the posts original above. I donât think the dealership can sell you the car, as they arenât the owners, even if turned in.
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