Hi All,
Long time lurker. Learned a ton and I think got myself a great deal almost 2 years ago on an F150 lease (details below). Thanks for the help back then!
Of course life changes and we are now expecting kid #4, and its hard to move a family of 6 around with a 5 seat F-150. I love this truck, but sadly I’ll need to trade it in for a minivan or 3row SUV.
My lease started June 2018 and expires June 2021. Kid is due in a few months, so I’ll be close to 1year away from my lease ending. I did research (kbb/nada/edmunds) and my F-150 is only worth ~$25k via trade in. The residual value is $31k, so I’m quite underwater to go to the dealer and have them take it back.
I read a few posts on transferring a lease and I looked at my signed lease agreement. It says transfers are okay with “Finance Company’s written consent”. This is leased through Cab East LLC. Does anyone have experience on getting their written consent? Or are there any other options for getting out of the lease that I’m missing (I can’t think of any, but I’m no expert). Thanks in advance
Year, Make, Model, and Trim: 2018 Ford F-150 XLT SCREW 4x4 2.7eco
MSRP: $ 52,600
Monthly Payment: $352.95
Drive-Off Amount: $460.45 Total
Months:36
Annual Mileage:12,000
MF:0.00054
Residual:$31,034
Incentives:$2,800 + $3,000 (Ford PCO)
Region:Northeast
Leasehackr Score:12.5
Leasehackr Calculator Link: calc link
Ford is indeed eligible for lease transfer. Cab east is the subsidiary of Ford motor credit that underwrites leases on that side of the country. You can just call the number on your lease statement and ask them. I had two Ford lease myself, rarely had to call them but every time I did I actually got someone who was intelligent and helpful on the first try.
You can post it for transfer here on Lisa Kher in the relevant section, and also swap a lease (who trolls the Worst Leases thread lol) and lease trader.
Good luck!
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Assuming you haven’t blown through your miles, I don’t think you’ll have much difficulty finding someone to take over your lease at $350 a month.
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That thing will go quick, just cut and paste and create a post in Private Lease Transfers. Those $3000 PCO’s made some unicorn deals.
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When I transferred mine, it took quite a while. About a month, IIRC. So start now.
My 2017 XLT Screw 2.7 4x4 was a 6-seater, BTW. That’s the way to go in a pickup, IMHO.
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Thanks @jeisensc That’s really good to hear. I’ll give Cab East a call to understand the process and how all this works. My last lease, I just gave it back to the dealer at the end of the lease, so I’ve got no clue how the lease transfer process works
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Thanks @joeblogs I felt really good that I got a >$50K truck for $350/month. I remember calling around to dealerships and told them I wanted an XLT crewcab for < $370/month and they all pretty much just laughed at me. Finally found one that was good with it!
@qbrozen Good to know. The timing of transferring my lease and getting the minivan will be a fun challenge.
As for the 6-seater, my oldest kid is 5.5, so not sure the front bench will work. I can imagine an officer seeing a kid in a car seat in the front seat just shaking his head!
It took 3 weeks to transfer my ford lease.
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