red 6 0-no said:
powerboatr-
from what i understand, they just would let me opt out early: voluntary early lease termination. i believe i would need to make the remainder of the payments from whenever to the end of the lease date... does that help
if i read right
if THEY let you OPT out early, i bet your liable for a termination fee or remainder.
that is NO DEAL
now if they OPT out for you and soke up the remainder plus some incentive to make up your lost time and $$ and get you in a new one, say at "A" plan pricing plus 5k downpayment, but i am just thinking here
From Ford lease site
25. VOLUNTARY EARLY TERMINATION AND RETURN THE VEHICLE
You may terminate this lease early, if You are not in default, by returning
the Vehicle to Lessor and paying the following: (a) an early termination
fee of $200, plus (b) the difference, if any, between the Unpaid Adjusted
Capitalized Cost and the Vehicle’s Fair Market Wholesale Value, plus
(c) all other amounts then due under this lease. You will never pay more
than the sum of the remaining unpaid lease payments, plus any excess
wear and use and mileage charges, and all other amounts then due
under this lease.
VOLUNTARY EARLY TERMINATION AND PURCHASE THE
VEHICLE You may purchase the Vehicle from Lessor at any time for
the sum of the remaining payments, less any unearned Rent Charges,
plus the purchase option price and all other amounts then due under
this lease.
Unpaid Adjusted Capitalized Cost is reduced on each payment due
date. It is calculated by reducing the Adjusted Capitalized Cost each
month by the difference between the Base Monthly Payment and the
part of the Rent Charges earned in that month on an actuarial basis.
Rent Charges are earned when due. Lessor or Ford Credit will provide
You with a written explanation of the actuarial method upon Your
request.
Fair Market Wholesale Value, at Your option, will be: (a) an amount
agreed to by You and the Lessor, or (b) the value which could be realized
at the wholesale sale of the Vehicle, as determined by a professional
appraisal obtained by You at Your expense within 10 days from termination
from an independent third party agreeable to Ford Credit, or (c)
if not established by agreement or appraisal, the net amount received
by Ford Credit upon the sale of the Vehicle at wholesale.
as to any Claim: 1) Right to file bankruptcy in court; 2) Right to enforce the ownership interest in the vehicle, whether by repossession or through a
court of law; 3) Right to take legal action to enforce the arbitrator’s decision; and 4) Right to request that a court of law review whether the arbitrator
exceeded its authority.
Either Party must contact any association below and the other Party to start arbitration. The applicable rules (the "Rules") may be obtained from the association.
American Arbitration Association ("AAA"), at 1-800-778-7879, or
www.adr.org;
J.A.M.S./Endispute, at 1-800-448-1660, or
www.jamsadr.com;
National Arbitration Forum, at 1-800-474-2371, or
www.arb-forum.com.
If there is a conflict between the Rules and this contract, this contract shall govern. This contract is subject to the Federal Arbitration Act (9 U.S.C. § 1 et
seq.) and the Federal Rules of Evidence. The arbitration decision shall be in writing with a supporting opinion. We will pay your total reasonable arbitration
fees and expenses (not including attorney fees, except where applicable law otherwise provides) in excess of $125. We will pay the whole filing fee if we
demand arbitration first. Any portion of this arbitration clause that is unenforceable shall be severed, and the remaining provisions shall be enforced.
If You have not had the repairs made before the Vehicle is returned at
the scheduled end of this lease, You will pay the estimated costs of
such repairs, even if the repairs are not made prior to Holder’s sale of
the Vehicle.
You authorize Ford Credit, on Your behalf, to receive and endorse
checks or drafts, and settle or release any claim under the insurance
related to Holder’s ownership of the Vehicle. You also assign to Holder
any other insurance proceeds related to this lease or Holder’s interest
in the Vehicle.
If You or Ford Credit obtain a refund for amounts paid to third parties
for insurance, service contracts, or any other amount paid to a third
party included in the Gross Capitalized Cost of this lease, You must
pay to the Holder the entire amount of the refund and You authorize
the Holder to subtract the refund from the amount You owe under this
lease.
gave a brief descriptions of concerns: (see 'broken record' post) he talked w/ ser. mgr. and when he called me back he point blank told me it has gotten so 'tight' w/ FoMoCo that i should call 1-800 and tell them i want a new truck w/ no out of pocket expense to me
now i wait 2-5 business days..uugh