blu by u Posted January 25, 2008 Report Share Posted January 25, 2008 So I've had my Edge since Sept and really enjoy it. I put quite a few miles on and the one area I'm not happy with is its milage. Gas is possibly going up to $1.30 - 1.40/litre this summer and if it does, I don't want this vehicle. Anyone have experience taking back a leased vehicle prior to its end date? I know this may vary from region to region but I'm in western Canada. Thx Quote Link to comment Share on other sites More sharing options...
akirby Posted January 25, 2008 Report Share Posted January 25, 2008 So I've had my Edge since Sept and really enjoy it. I put quite a few miles on and the one area I'm not happy with is its milage. Gas is possibly going up to $1.30 - 1.40/litre this summer and if it does, I don't want this vehicle. Anyone have experience taking back a leased vehicle prior to its end date? I know this may vary from region to region but I'm in western Canada. Thx I think Ford will take the lease back 2-3 months early (or extend it a few months) if you're getting another Ford vehicle. I don't think they'll take it back this quickly without a major penalty. You'd most likely have to find someone to take over the lease. What would you replace it with and how much do you think you'd actually save? You may not save enough on gas to make it worthwhile. Just make sure to do the math based on estimated MPG and number of miles driven. Many people got rid of vehicles that require premium fuel because of the cost, but they probably spent thousands of dollars more when in reality they were only saving a few dollars per week. Don't be penny wise and pound foolish. Quote Link to comment Share on other sites More sharing options...
blu by u Posted January 29, 2008 Author Report Share Posted January 29, 2008 (edited) I think Ford will take the lease back 2-3 months early (or extend it a few months) if you're getting another Ford vehicle. I don't think they'll take it back this quickly without a major penalty. You'd most likely have to find someone to take over the lease. What would you replace it with and how much do you think you'd actually save? You may not save enough on gas to make it worthwhile. Just make sure to do the math based on estimated MPG and number of miles driven. Many people got rid of vehicles that require premium fuel because of the cost, but they probably spent thousands of dollars more when in reality they were only saving a few dollars per week. Don't be penny wise and pound foolish. I haven't made my mind up yet on the lease aspect. As for the potential savings of obtaining a different car, I don't understand your response... There are thousands of vehicles that are less expensive and better on fuel than the Edge so I doubt there's much "math" invloved there. Is there not a direct co-relation between the potential number of miles I'm going to drive, my fuel economy, the cost of fuel and my overall potential savings? Yeah, I think so... and I don't need to replace it with a Kia to get that. Again, I didn't buy the Ege to save a few pennies and I did have other choices but I really enjoy it. I own my own business and travel quite a bit so the cost and expenses of my vehicle play a factor in in my P&L statements as those costs are directly mine. In 4 months, I have put on 20,000 kms. I bought it knowing I wasn't going to get 45MPG but if gas does go through the roof as rumor has it, I'm just looking and considering my opions. Edited January 29, 2008 by blu by u Quote Link to comment Share on other sites More sharing options...
pickupf150 Posted January 29, 2008 Report Share Posted January 29, 2008 So I've had my Edge since Sept and really enjoy it. I put quite a few miles on and the one area I'm not happy with is its milage. Gas is possibly going up to $1.30 - 1.40/litre this summer and if it does, I don't want this vehicle. Anyone have experience taking back a leased vehicle prior to its end date? I know this may vary from region to region but I'm in western Canada. Thx Well not only do I work for a Ford dealer but I am the lease manager in western Canada so I can answer the question for you. You can bring a lease back to Ford at anytime....BUT...the contract has to be paid out or the Edge has to be bought back by the dealer. When a dealer says we can take care of the payments if you get another one...someone is paying for the last payments, most of the time its the customer. Sometime Ford will offer rebates to pull customers out of there lease's early but its not happening as often now. One way to get out of a lease really early is to get someone else to take it over and then they can finish off the lease and you can get something else. Let me know if this answers your question. Quote Link to comment Share on other sites More sharing options...
CreamEDGE. Posted January 29, 2008 Report Share Posted January 29, 2008 The cost of returning the your EDGE early will negate any savings on gas you think you may get with something more economical. A lease take-over is an ok option, depending on your lease companies terms for that. Quote Link to comment Share on other sites More sharing options...
blu by u Posted January 29, 2008 Author Report Share Posted January 29, 2008 The cost of returning the your EDGE early will negate any savings on gas you think you may get with something more economical. A lease take-over is an ok option, depending on your lease companies terms for that. Understood. I don't think it would be a challenge to find someone to take over the lease if it came to that. If it would cost thousands to return it, I certainly wouldn't choose that option. Quote Link to comment Share on other sites More sharing options...
akirby Posted January 29, 2008 Report Share Posted January 29, 2008 If it would cost thousands to return it, I certainly wouldn't choose that option. It will. You'll have to find someone to take over the lease. What I meant was don't pay thousands of dollars to get out of the lease (or sell a car you're buying and take a huge hit in depreciation) just to save hundreds on fuel. If you're also going with a cheaper car then that might offset it a lot more or since you drive so many miles your break even point will be a lot sooner. Quote Link to comment Share on other sites More sharing options...
ixlar8 Posted January 29, 2008 Report Share Posted January 29, 2008 I have a friend who used this - http://www.leasetrader.com/ to get out of his 2007 Cadillac Escapade (His spelling). He had 30 months left on the 36 month lease and someone locally took over his complete lease. That is all I know about it. Quote Link to comment Share on other sites More sharing options...
blu by u Posted January 29, 2008 Author Report Share Posted January 29, 2008 Awesome idea thanks!! I just need to find something Canadian related as it seems this is a US based program. Quote Link to comment Share on other sites More sharing options...
pickupf150 Posted January 30, 2008 Report Share Posted January 30, 2008 Awesome idea thanks!! I just need to find something Canadian related as it seems this is a US based program. There are a few sites like leasebusters.com and leaseboyz.com but the best is craig's list and it doesn't cost a penny or even your local paper. I know the websites cost $$$ and they don't always work but the paper or craig's list have worked really well for others I have helped. Quote Link to comment Share on other sites More sharing options...
blu by u Posted February 6, 2008 Author Report Share Posted February 6, 2008 There are a few sites like leasebusters.com and leaseboyz.com but the best is craig's list and it doesn't cost a penny or even your local paper. I know the websites cost $$$ and they don't always work but the paper or craig's list have worked really well for others I have helped. Thanks guys... I appreciate the advice. Steve Quote Link to comment Share on other sites More sharing options...
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