Leasees: What will it take for you to keep your Lightning?

[RLXXI]

For me it's what it would take for me to give up my truck. I leased as a sort of long term try it before you buy it deal, after the 2nd day I was hooked and still am. If in 28 when the time comes and there's been some sort of break through that can only be realized with a new truck, I would then make my decision to keep or give back in favor of new keeping in mind it will still be new mostly by then, only have 2k miles on it since June last year.

Sponsored

 

[JRDM2]

It will probably depend on what's available. I leased intending to buy for a variety of reasons but I appreciate being able to walk away if I didn't like it anymore or something else fits my needs better. I don't know what will hit the market then, I don't know what the prices will be, I won't know what will be available enough used at the time. I'm interested in the Ford and RAM EREVs, interested in Scout, Telo, or even an Edison conversion.

I said available enough because there wasn't a lot of used stock in state I wanted. I considered out of state purchase but my wariness and the time investment to check out a vehicle out of state was more than I wanted to put into it. Maybe now that I have an efficient vehicle and nice enough vehicle I'll be more willing to make an out of state vehicle transaction.

 

[flyct]

I’ve bought 72 new vehicles since 1970. My 2024 Lightning Platinum is only the 3rd lease. The previous 2 were worth 10-20% less than residual at lease end and I expect my Lightning to follow same the ACV to Residual ratio at lease end.

Honda and Acura were not willing to budge on the residual at the previous lease ends. I see Ford following the same process so I will give it back. It will not be worth the $49,000 after 39 months.

It will likely go to a closed Ford dealer only auction after I turn it in. So there is no way I could hire a broker/buyer to bid on it at auction. Therefore I will wave bye bye.

I am inclined to hide an Apple AirTag in the truck to track it and see where it winds up. Then possibly offer to buy it from the dealer that has it, assuming it remains problem free for the remainder of my lease.

 

[Enginerd Josh]

By the time my lease is up in early 2028, there’ll be a few other EV pickup options on the road, namely Slate and whatever Ford’s new 30k Ev pickup is. So, I’ll compare those at new prices with buyout cost of my 24 Flash ($40k), and decide. Assuming the battery holds up, and especially if Ford comes way down on the buyout cost or lets me extend the lease at same price another year or two, I’d be inclined to keep the Lightning. In the meantime, I’m loving it.

 

[dpwmc93]

Prior to the Lightning's cancellation, I was firmly on the side of keeping our Lightning once the lease was up. Given how the truck fits our needs, it just made sense to keep it. Now that it's been discontinued, we have to contend with resale value, parts availability/dealer service issues, etc. I personally want to stay in BEV Land and have the functionality of a truck for camping, hauling stuff around (no towing), home improvement errands, etc.

So my question to my fellow leasees: Are you planning on returning the truck once the lease is up? Will you keep it? If Ford discounts the residual value to incentivize you to buy it at the end, how much would that discount need to be? Just curious to see where everyone's head is at. Or are people waiting to see what new products hit the market?

I just leased my 2025 Lightning Flash in September of 2025. At first I was considering keeping it because I love it so much, but in 3 years, we'll see where the market is and go from there. Hope the new lightning will be out by then.

 

[Astrotrain00]

I just leased my 2025 Lightning Flash in September of 2025. At first I was considering keeping it because I love it so much, but in 3 years, we'll see where the market is and go from there. Hope the new lightning will be out by then.

Same. I got a 4 year lease. Residual is $36K.

Since the new Lightning won't be a BEV, and the $30K truck will probably feel like an econobox, I'm thinking I'm headed toward a used R1T or leasing an R2 unless Ford knocks a few thousand off the residual.

 

[flyct]

I wonder what all these flood of lease returns will do to resale vale?

 

[RipInPepz]

By the time my lease is up (2029), there will be plenty of true 500 mile EV pickups on the market. So basically nothing short of giving it to me for free.

 

[djstough]

I had both a MachE and Lightning. When the MachE lease was up, the residual was ~$35k. I inquired if there was any dealing to be done, as the KBB/CarMax value was about $25k. No dice. So I turned it in. It went to auction, picked up by a Nissan dealer near by, and sold for $24. That means probably $20 at auction. I'd have kept it if they offered $25, and they would have been at least $5k to the good, if you include recon and auction costs. Instead, I got a great lease deal for 3 years, where they made a bad bet on residual.

 

[Pioneer74]

Still at a loss as to why people feel Ford needs to do anything for them simply because they bought or leased a Lightning?

Ford does this all the time with discontinued models. They won't offer a better deal to buy the vehicle outright at the end of the lease, but they will offer lease holders targeted incentives to lease or buy another Ford vehicle.

 

[Albern]

Yes I plan on keeping my Lightning and will be buying it out after the lease in 2028. Ford has explicitly stated that they will continue to support SYNC4 and have parts on-hand into the foreseeable future which is required by law.

Just because the Lightning has been discontinued, it doesn't mean that it won't be supported. Also, there is always a cost advantage when keeping and maintaining vehicles long-term. Intrinsic value and utility doesn't just disappear overnight let alone after 10-years.

 

[flyct]

Yes I plan on keeping my Lightning and will be buying it out after the lease in 2028. Ford has explicitly stated that they will continue to support SYNC4 and have parts on-hand into the foreseeable future which is required by law.

Just because the Lightning has been discontinued, it doesn't mean that it won't be supported. Also, there is always a cost advantage when keeping and maintaining vehicles long-term. Intrinsic value and utility doesn't just disappear overnight let alone after 10-years.

I also lease a 2024 Platinum.

In 2 years from now in 2028 our 2024 Lightning Platinums will likely be worth only $39,000. My residual Buyout on my 2024 Platinum is $49,000. Would you buy it if the actual value is 10k less?

I base this on the current KBB Trade in value of a 3 year old (2022) Platinum with 36K miles on it as of today.

 

[Albern]

I also least a 2024 Platinum In 2028 our 2024 Lightning Platinums will likely be worth only $39,000. My residual Buyout on my 2024 Platinum is $49,000. Would you buy it if the actual value is 10k less?

I base this on KBB Trade in value of a 3 year old 2022 Platinum with 36K mile on it today.

If I remember correctly, my buyout at end-of-term will be ~$46,000 CDN. Unless circumstances significantly change for me, I don't think a $10K difference would persuade much. This is assuming that the truck continues to be reliable and well maintained (which is has been). Plus, as the first "owner" I already know how it has been operated.

 

[JRDM2]

I also least a 2024 Platinum In 2028 our 2024 Lightning Platinums will likely be worth only $39,000. My residual Buyout on my 2024 Platinum is $49,000. Would you buy it if the actual value is 10k less?

I base this on KBB Trade in value of a 3 year old 2022 Platinum with 36K mile on it today.

I haven’t seen Platinums anywhere near that price, at least anywhere close to me. And trade in value usually isn’t what you would pay for anything unless you’re a dealer.

Leases aren’t all the same so that’s a factor. Based on what I’ve found around me I think my residual will be pretty close to the market value.

 

[BigLeagueChoo]

Hey....at least you all leased and didn't finance on September 3rd.....

Sponsored