Early Lease Termination

Has anyone done early lease termination with Ford before? I want to get out of my current 2015 mustang lease early (it ends in April) to pick up a 2017 model

AFAIK, there's no such thing. At best, they'll roll what you owe in payments into the terms of your next car.

You'll get boned, but's it's your choice.

You can do at most like 3 months ahead of time I think. I did got out of one 6 months early and had to pay 3 months worth of payments if I recall correctly.

If you're trading for a newer Mustang, the dealer may be motivated to make you a "deal" but they are under no obligation to do so. It's a legal contract and you're obligated to see it to completion.

jstump2490 said:

You can do at most like 3 months ahead of time I think. I did got out of one 6 months early and had to pay 3 months worth of payments if I recall correctly.

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The entire 6 months were paid. You just think you only paid for three months. There's no getting out of the lease, it has to be paid. The other three months of the lease were rolled into what you paid for the next car.

It's a shell game, meant to make people think they got a "good deal".

you cant terminate a lease........However you can trade it in or sell it like any car and take a beating.

I typically sell mine outright if I'm in that ~6 month window and can break even on the deal. I know my dealer has said something about being able to "trade up" or "pull ahead", whatever they call it, 3 months prior to lease end when that window opens which is a real thing.

The way that they look at it is that the car has a pay off (sort of) like any other, either you're upside down on it now or even is the real question. As said same dealer you're intending to buy from may work with you more but you're still likely to be upside down on the 15 and faced with keeping it til you can break even or rolling more money in to the 17. Fordcredit.com will give you a 10 day payoff if you create an account, I remember doing that recently.

But terminating a lease early, no, they won't do that.

Is April really that far away? I would wait it out. By then 2018s will be rolling around and you might find some good deals on left over inventory.

wireeater said:

Is April really that far away? I would wait it out. By then 2018s will be rolling around and you might find some good deals on left over inventory.

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I inferred by him asking that he doesnt want an 18.

Easy to trade or sell. See what carmax will offer you if you have one nearby. I actually just traded in our 2015 Jeep Cherokee (lease ended August of 2018) for a new 2017 Jeep Grand Cherokee. There was about $1,800 in negative equity but I had $1,500 in bonus certs (not included in rebates), so effectively it was only $300. With the labor day Jeep specials and combined rebates it was something like $6,500 or $7,000. We made out great and went from a $24k Jeep to a $41k Jeep with only a slight increase in payments.

TLDR: Just see what your payoff is and try to sell or trade. I've made money on trading in leases too, just depends how good you can negotiate.

I turned in a Ford lease 1 year early to purchase a 13 Focus ST.
I had to pay $1000 early termination fee and walked away from it.
Probably would have been a different story if I weren't buying a car from them.

I’d start by looking at your lease and see what the end of lease value is for your car. That may help make your decision easier... one way or the other.

VinnAY said:

I inferred by him asking that he doesnt want an 18.

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I wasn't mentioning purchasing an 18'. I was saying they will be out and there could be some 17' inventory still in stock with discounts to get them off the lot.

Are there really some 2017's still in inventory well over halfway through the MY 2019 production run and over 1.5 years after 2017 production stopped???

I never could grasp the concept of leasing a car (where the deck is stacked even more heavily in the dealer's favor). So I can certainly understand trying to get out early if it's to get off the leasing treadmill completely.


Norm

Chef jpd said:

I turned in a Ford lease 1 year early to purchase a 13 Focus ST.
I had to pay $1000 early termination fee and walked away from it.
Probably would have been a different story if I weren't buying a car from them.

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hmmm...that wouldn't be so bad if that's a real something and not just an out of the ordinary thing on an individual basis that you got.