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

[TenaciousG77]

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?

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[El Duderino]

I am asking myself the same questions...

When I leased mine, my dealer literally told me the truck won't be worth the residual value when I turn it in so don't plan on buying it out.

In the cancellation press, there was mention of helping out leasees. I am waiting to see what that specifically means.

If they extended my lease length under the same terms I would consider it. If something better I am more interested.

I really like the truck and my current lease terms. Not sure what the future holds. All I know is everything keeps getting more expensive...

 

[maverick129]

Unfortunately, no. I have about 15 months left on my lease. By then, I think there will be better options on the market. I love my Lightning, but I could go out and buy a used Platinum with fewer miles NOW for less than what my residual value is in 15 months. If Ford would negotiate,I might consider it but i don't think that will happen. They are going to take even more of a bath on these as they come off lease.

 

[TenaciousG77]

Right? I'm curious what kind of options @Ford Motor Company will offer to incentivize folks to hang on to the trucks, at least for a little longer. It works really well for our family, but it would have to be a pretty sweet deal for us to extend or buy given the other trucks that are likely available at that time.

 

[Daragh]

Still at a loss as to why people feel Ford needs to do anything for them simply because they bought or leased a Lightning? It’s a free market, keep it if you want it, get rid of it if you don’t! Ford owes us nothing!

I’ll be keeping mine for the next few years, other than crappy and unpredictable software update schedule form Ford my truck so far has had no issues, don’t think I can say that about any other EV or ICE vehicle I’ve owned.

Plus it looks nice sitting in the drive .

 

[El Duderino]

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

They literally said they were going to do just that in the cancellation announcement.

"As for existing Lightning customers who might be coming off lease or looking or a new Lightning, we are looking at the following:
Assist early adopters to purchase or lease a new 25MY Lightning
Offering extensions to customers who wish to extend their leases beyond the original term
Providing dealer support to help match customer with available inventory"

https://www.f150lightningforum.com/...gen-model-⛔️-admin-warning-no-politics.33426/

 

[Daragh]

Ok so there’s the terms of the incentive, why do folks expect more than this?

 

[GunnarH]

why do folks expect more

I don't expect anything, but it's like you said; "It's a free market."

If Ford wants my '25 Lariat back in 2028, they can have it. If they offer me a good deal, I'll consider it. But the way things are looking now, after they canceled the BEV Lightning, I'm most definitely not buying out the lease at the stated price. Unless these trucks somehow and miraculously increase in market value by then.

Better to return the lease and find a really good deal on a used truck. Or, go for a new lease with a different brand that still offers BEV vehicles.

It's not about expecting a handout, it's about using common sense and a calculator. The ball is in Ford's court.

 

[Wylsyn]

Never thought it would happen, but I've turned into a perpetual leaser since it puts all the depreciation risk on the manufacturer - as long as I don't put any (or very little) money down other than the first lease payment. Also, knowing the volatility of the EV market, I only wanted and still only want to lease.

At this point in my life and career (almost retired), I'm fine making payments for the rest of my life to have constantly new tech and never have to replace brakes, tires, or batteries. But, to each their own.

As far as what's next when my lease is up, I'll see what's out there as far as similarly sized and equipped EV or EREV trucks.

 

[dmod]

I'd happily keep mine, but they will have to offer a market adjustment of some kind. If they are going to re-sell it for a loss anyways, why not just cut out the extra steps.

 

[Ventorum94]

Looking on the bright side, the F150 Lightning promised in 2021 at under $40k, is soon to become available (in all trim levels!) at that price!

 

[TenaciousG77]

Ok so there’s the terms of the incentive, why do folks expect more than this?

I'm not expecting anything. My question simply asked: What kind of terms would make you stay if you would otherwise walk? Our situation is unique in that when we bought or leased the truck, we were operating under the assumption that Ford was committed to the continued production of the Lightning and there was ongoing development of the T3. Now neither of those things are true, and I think it's fair to say that leaves current owners and Ford with a lot to consider.

My goal was to lease and then see what the next generation looked like if we liked our ownership experience. If Ford decides to do nothing, then I'm happy to return the truck at the end of the lease and move on. But if Ford were to offer an incentive that makes sense, I would be willing to hang on to the truck longer. I'm a known quantity, so I think it makes sense for Ford to do something to keep me in the Lightning rather than risk dealing with a used truck that potentially no one wants.

Seems like Ford understands this, otherwise why would they announce they are considering ways to keep current owners in a Lightning?

You're right; Ford owes us nothing. But in an industry that relies heavily on brand loyalty, pulling the rug out from under owners seems penny wise and pound foolish.

 

[jackdeaoux]

I love my Lightning! But I would not buy it at the residual price listed in my lease. I would love to buy it but Ford would have to renegotiate that

 

[maverick129]

I expect. Nothing from ford. I signed a contract, and that is that. However, if I could buy my truck at current market value I would when the lease is up. If I don’t, ford has a truck valued 15k more than the market value, who eats that cost? This is the beauty of leasing these vehicles. I can walk away with no negative equity.

 

[RickLightning]

Still at a loss as to why people feel Ford needs to do anything for them simply because they bought or leased a Lightning? It’s a free market, keep it if you want it, get rid of it if you don’t! Ford owes us nothing!

I’ll be keeping mine for the next few years, other than crappy and unpredictable software update schedule form Ford my truck so far has had no issues, don’t think I can say that about any other EV or ICE vehicle I’ve owned.

Plus it looks nice sitting in the drive .

Because they said they would do something...

As for existing Lightning customers who might be coming off lease or looking or a new Lightning, we are looking at the following:
Assist early adopters to purchase or lease a new 25MY Lightning
Offering extensions to customers who wish to extend their leases beyond the original term
Providing dealer support to help match customer with available inventory

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