Trade lease in?

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Huie83

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Hello-

Has anyone ever traded a lease in? Experiences?

I leased a 2013 Explorer about 9 Mos ago that I'm not very happy with and want to dump it. I contacted Ford credit and they said I'd have to purchased the vehicle to be able to trade it in..? Other car sites say its not a issue and leases can in fact be traded in.

Also, any real world experiences with the lease trading/takeover sites?

Thanks.
 
AFAIK, you'd need to transfer the lease to someone else, or pay the buyout at this point, which would be astronomical being only 9mo into it. It would be the amount of lease payments remaining, plus the buyout amount you agreed upon.

I bought out the lease on our 2008 Honda Odyssey because the buyout and terms of the lease were OK. Drove it another 2yrs and traded it in, getting a good trade-in allowance.
 
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In one case I had a leased car I wanted to get rid of quite early and since the trade/resale value was equal to the buyout, the dealer did it all for me. Two other factors that helped, it was a Honda so resale was high enough to support this and I made this transaction at an Acura dealer for my current TSX. If you want a non-Ford and being that young in the lease you may have to listen to Ford Motor Credit but be prepared to suffer some hit to the wallet.
 
You could probably roll it over into another vehicle, but 9 months in that would not only be ugly but it would be financial disaster.
 
Thanks for all in input. To answer some of the questions:

- Buy out is actually right around what trade in is on it. If a dealer would do it I wouldn't lose out too bad on it ~$500 or so.

- As far as why I am not happy with it. I leased it before we found out we had a 3rd child on the way. Now that he is here it gets pretty cramped when all of us are in the vehicle. Also after driving it for 9 mos some issues with build quality have already come up including the dreaded "exhaust in the cabin" smell when accelerating with the rear climate on, a tick in the driveline under load, various creaks and rattles, paint defects etc. Ford has no fix for the exhaust smell issue and the owners just have to live with it.... The rest are just QC issues that I've found that are pretty ridiculous to have on a new vehicle. I'm not the type of person to bring my vehicles back to the dealer a bunch of times to have stuff fixed. I'd rather just take it for what it is and get rid of it rather than wasting my time. The last 3 new vehicles I have had have had less issues combined than the Explorer. First Ford and very disappointed in the quality.

Sorry for the long winded answer, hopefully it explains a bit. I was going to buy it out lease end if it was problem free before lease end. Now I want to dump it before throwing any more money into something that [censored] me off almost every time I drive it LOL.
 
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Try Carmax. If they are willing to give you enough so that you come out relatively clean, buy it and sell it to Carmax.
 
Concerning the car, until you get rid of it, take it to Ford to be fixed. A simple Google search came up with a Ford factory TSB fix for the exhaust smell you claim Ford was doing nothing about. Come on guy Suck it up. Your bucks, Your family (breathing fumes) Get er done

Ford Explorer Exhauset TSB
 
Originally Posted By: Huie83

- Buy out is actually right around what trade in is on it.


Buyout PLUS what you owe yet in monthly payments is still right around trade-in value?

You must have put a big chunk of money down on this lease then?
 
Originally Posted By: tenderloin
Concerning the car, until you get rid of it, take it to Ford to be fixed. A simple Google search came up with a Ford factory TSB fix for the exhaust smell you claim Ford was doing nothing about. Come on guy Suck it up. Your bucks, Your family (breathing fumes) Get er done

Ford Explorer Exhauset TSB

+1 Trading instead of fixing is throwing thousands away for a small amount of hassle. Heck they will probably give you a loaner. I know I don't make $1000 an hour to make it not worth pursueing the warranty.
 
Yeah, I am aware of the TSB, it's really hit and miss, like 20% success rate. BUT, you're right, I should make the time to get it done along with the list of other issues I have found. Not trying to be lazy, my past experiences with manufacturers warranties ( the one time I used it on my VW) was not great and a waste of time.

Ford is the first manufacturer I have purchased from that doesn't give loaner cars while yours is in service. With a family of 5 I'll have to work around that. Maybe per dealer is different.

JTK- I got a good deal on the lease because I was jerked around by a few Ford dealers when looking for my Explorer. A 3rd dealer stepped in when I complained to Ford corporate and treated me good. Only thing that sucks is the fact they are a hour away. I only paid TTL cash. Yes, current buy out is about $500 over what Trade in is marked at.
 
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dont just lie down and take it. get to the dealership, show them that TSB, tell them about every [censored] issue, squeak, rattle, so on. demand a free rental, and be on your happy way. Does your SUV have a 2nd row bench? 3rd row seats? if so your just fine.

However if you still throw in the towel, i'd just mention that our 2011 sienna has done quite well for our 3 toddlers (3 car seats in the 2nd row) and plenty of room in the rear for trips and the entourage of equipment to support said 3 children.
 
Originally Posted By: Huie83
Yeah, I am aware of the TSB, it's really hit and miss, like 20% success rate. BUT, you're right, I should make the time to get it done along with the list of other issues I have found. Not trying to be lazy, my past experiences with manufacturers warranties ( the one time I used it on my VW) was not great and a waste of time.

Ford is the first manufacturer I have purchased from that doesn't give loaner cars while yours is in service. With a family of 5 I'll have to work around that. Maybe per dealer is different.

JTK- I got a good deal on the lease because I was jerked around by a few Ford dealers when looking for my Explorer. a 3rd dealer stepped in when I complained to Ford corporate and treated me good. I only paid TTL cash. Yes, current buy out is about $500 over what Trade in is marked at.


Are you sure Ford doesn't give loaner cars? I have had my Focus at the dealer 3 times and each time I got a loaner car.
 
Originally Posted By: Miller88
Originally Posted By: Huie83
Yeah, I am aware of the TSB, it's really hit and miss, like 20% success rate. BUT, you're right, I should make the time to get it done along with the list of other issues I have found. Not trying to be lazy, my past experiences with manufacturers warranties ( the one time I used it on my VW) was not great and a waste of time.

Ford is the first manufacturer I have purchased from that doesn't give loaner cars while yours is in service. With a family of 5 I'll have to work around that. Maybe per dealer is different.

JTK- I got a good deal on the lease because I was jerked around by a few Ford dealers when looking for my Explorer. a 3rd dealer stepped in when I complained to Ford corporate and treated me good. I only paid TTL cash. Yes, current buy out is about $500 over what Trade in is marked at.


Are you sure Ford doesn't give loaner cars? I have had my Focus at the dealer 3 times and each time I got a loaner car.


I'll have to call around. So far the two closest to me don't have anything that will fit 3 small kids to trek to school in the AM. Biggest loaner they said they have is a fusion.
 
Ask for the service manager when trying to get warranty work done. Sometimes the service advisors try to blow you off since they have a harder time earning their commissions.
 
Originally Posted By: cptbarkey
dont just lie down and take it. get to the dealership, show them that TSB, tell them about every [censored] issue, squeak, rattle, so on. demand a free rental, and be on your happy way. Does your SUV have a 2nd row bench? 3rd row seats? if so your just fine.

However if you still throw in the towel, i'd just mention that our 2011 sienna has done quite well for our 3 toddlers (3 car seats in the 2nd row) and plenty of room in the rear for trips and the entourage of equipment to support said 3 children.


I hear you, I wish I had more time to deal with it. With 3 little ones it's hard to make the 2 hour round trip to the selling dealer that treated me well in the first place. The two other local dealers are the ones that tried to jerk me around and I don't really want to go back...

My neighbor has a Sienna and loves it. Unfortunately this is my wife's ride and she refused to drive a minivan when car shopping. I'd be all over one if she would make the trade, maybe if we take all the kids car shopping and she sees how kid friendly they are she'd go for it. I think they even make a AWD version that would be sweet for the MN winters!
 
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It's a lease, who cares if it creaks and rattles or has bad paint? Treat it like the rental car it is and give it back at the end of the lease.
 
Not getting too personal, but every option you laid out always has 3 kids along for the ride...either to school or the dealer. Can't someone watch them while you take the vehicle in? Also a Fusion should hold 3 small ones in the rear seat, no problem
 
Originally Posted By: tenderloin
Not getting too personal, but every option you laid out always has 3 kids along for the ride...either to school or the dealer. Can't someone watch them while you take the vehicle in? Also a Fusion should hold 3 small ones in the rear seat, no problem


I could take it to the dealer by myself, it's the next 3,4,7 days or however long it takes for them to fix all the issues that my wife has to take the kids to school in the AM that would be the issue.

A infant carseat and 2 boosters can fit in the back of a Fusion?
 
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