Ending Lease Early?

[ELMersGlue1]

Hey all. I have an Edge Sport on order. Should be here by first week of April, perhaps a little sooner. I am currently leasing an Escape and the lease is up the first week of July. My dealer seems to think that Ford Credit (whom the current lease is with) will not let me turn it in 3 months early and that i'll have to keep it till the lease is up in July. I'm calling BS. This is my 3rd lease with Ford Credit, and my parents have a current loan with them on their vehicle, and they had a good standing lease (all payments on time, no excess damage, under mileage) that ended in the fall with FC on another vehicle as well. They co-sign on my leases because of my age. The last two leases I waited till the very end of the lease to get something so i never dealt with them in regards to turning in a lease early but hear from people that do it successfully all the time. As of now, i'm 9,000 miles UNDER my allowed miles and the car is immaculate (original tires still have 6/32s left all around). Anyone ever dealt with Ford credit and turning a car in just a few months early?? I told my salesman that i'll put more money down to make the deal work as long as I can get the lease rebate from Ford.....I CAN do two car payments for the 2-3 months, but obviously why would I keep a car I don't need and pay the insurance and gas for it!?

 

Any input is appreciated!

[timf]

The returning lessee promotions are typically valid 90 days before through 30 days after your current lease is scheduled to end, so if you are still outside 90 days you might have to wait a little longer. There should be no problem turning the car in early as long as it is paid in full. You can either pay cash for the remaining amount of your lease or have them roll those payments into your new lease.

[Edgieguy]

My dealer paid the last 4 months of my 2008 lease to get me into my 2011 Sport, which added an additional $1720 in savings. I think most of the dealers have the latitude to do pretty much whatever they want to move a new vehicle. Tell them you'll check other dealers, let your money talk. Cars are not flying off showroom floors as my sales guy said to me a few weeks ago.

[JOEHIO]

I've heard of people doing early lease terminations, for 2 and three months with no problems. Friends just ordered a new Explorer, will be a 2 month, possibly 3 early termination on theEscape that theyb are currently leasing, dealer has no problem absorbing 2-3 payments. When we bouight my wife's '09 MKS, years ago, we had done a 2 year, 1 pay lease on the Ford Five Hundred that she was in. Paid all payments up front when we picked up the Five Hundred. We looked at the MKS, but still had 2 months left on the Five Hundred lease, so the Dealer cut us a check ($1,100) for 2 months lease return tom get into the MKS at that point. Sales are kind of slow, dealers should be willing to workwith customers.

[ELMersGlue1]

Thanks for all the replies. i should have mentioned that my uncle works as the body shop manager for this dealership too so I get D - plan pricing as well. Don't know if that has any positive or negative affect on the deal as a whole (obviously, a positive on my end). I'll see what happens when it comes in. I'll basically just tell him flat out to get the deal done, the Escape has to go. I mean we're talking about 3 payments here for a total of $1,099. I don't expect them to eat the full cost, like I said, i'll pay the payments in full if I have to, I just want that rebate so i won't have to put any more down to get the payment where I want it.

[akirby]

Ford usually eats the early termination, not the dealer.

[JOEHIO]

Go in with a POSATIVE attitude - THEY WILL BUY THE PAYMENTS.

[Dingo]

They actually will, attitude aside. As long as you move into another Ford product, you can get out up to 6 months early.

[ELMersGlue1]

Thanks Dingo,

I spoke with two people I know that just re-leased Fords for the second time. They both ended their leases early, one at the 6 month mark, the other at the 2 month mark without any penalty or trouble. I'll just tell him in order to get the Edge, the Escape has got to go back. I'm sure it will all work out. They are a very small dealership, with 3 much larger dealerships not far away (in fact, the other 3 are much closer to where I live) so i'm sure he wants the sale!