zzdcar
Home
/
Reviews
/
Buying
/
Ford Credit Won't Allow Lessees To Buy Out its EVs
Ford Credit Won't Allow Lessees To Buy Out its EVs-May 2024
2024-02-19 EST 22:09:23

Ford E-Transit and Mustang Mach-E

Ford is manufacturing some of the hottest products on the market right now, notably the Bronco, Maverick and Mach-E. Yet, the company has that could affect selling its cars or retaining its customers, for at least its EV products. The latest move is Ford Credit ending lease buyout options for owners of Ford’s Mustang Mach-E, F-150 Lightning and E-Transit, reports.

In a bulletin sent to dealers June 15, the automaker said that lease agreements in would change and explicitly say that customers don’t have the option to buy their EV at the end of the lease term. A Ford Credit spokesperson confirmed to that the letter is true and more states would be added to the changes at the end of Q4 of this year.

The letter also outlines Ford’s reasoning for the move. The company says that it’s all part of its longer EV battery strategy. Keeping EVs allows the company to make EVs more affordable and reach its goal of carbon neutrality, . “Ford Motor Company is committed to making Battery Electric Vehicles (BEVs) more sustainable and affordable for our customers by localizing the complex battery supply chain network, creating recycling options for end-of-life vehicles, and increasing U.S. battery production,” Ford says. “The purchase of the BEV Lease is to aid in our goal of delivering carbon neutrality by 2050 by controlling the vehicle battery through its life, keeping it in the Ford network.”

I reached out to Ford for further clarification. The company says at the end of the lease, a lessee will be able to renew their lease in a new vehicle, while Ford takes the old one off the customers hands. Customers will have the newest model ride available and Ford will have the vehicle back in their hands to keep costs down. “Ford Credit’s plan for EV leasing enables customers to replace their vehicles with the newest model at lease end while keeping the vehicle in the Ford network longer so Ford can better manage battery recycling and materials,” they told me.

If you’re looking at the big picture, it appears as if Ford is approaching its customers’ relationships with EVs like companies do with you and any of the tech you have in your home, or office, or whatever you’re reading this article from. It’s similar to a cellphone — useless after 3-4 years.

It’s certainly an interesting move by Ford, showing just how much of a tech company they automaker wants to be. Keeping old lease vehicles within the company allows Ford to be their own battery recycler, but it pairs down EV ownership to 2-3 year stints, or about as long as your iPhone might work.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Buying
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Someone Willingly Paid $16,000 For A Maserati Ghibli On Cars & Bids. Don’t Make The Same Mistake
Let’s cut right to the chase: buying a is not a good idea unless you have deep enough pockets for the upkeep. For those not in the know, they’re sirens. They draw you in with their premium Italian image and sweet songs of and then go in for the...
May 17, 2025
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
At $5,900, Is This 1984 Nissan 720 4X4 A Solid Deal?
According to its seller, today’s Nissan 4X4 shows “pride of ownership.” Let’s see if it would take swallowing one’s pride to pay its asking price. Opinions were split on how well the design of yesterday’s has held up over the years. Some of you commented that the design still...
May 17, 2025
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
At $18,500, Would You Lean Toward Buying This 2022 Ford Mustang?
Today’s Mustang is being sold by a towing yard, which means it’s probably a lien sale. Let’s see if this clean title convertible is priced to put a new buyer on the hook. The general consensus on last Friday’s was that it would be the perfect car for someone...
May 17, 2025
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
At $8,600, Would You Go Topless In This 1994 Cadillac Eldorado?
The seller of today’s Caddy claims they should be selling it at auction but says who’s got time for that? Let’s see if we have the time for this custom convertible at its non-auction price. Many of you agreed that the $950 asked for yesterday’s was “chump change.” Even...
May 17, 2025
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
At $950, Would You Go All-In On This 1984 Plymouth Colt GTS Turbo Project?
One of the calling cards of today’s Plymouth Colt is its “Twin Stick” overdrive gear change, which gives the car eight speeds going forward and two in reverse. Let’s see if this project car has anything else to offer. Just as Goldilocks discovered when appropriating Papa Bear’s lifestyle and...
May 17, 2025
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
Which One Of You Suckers Is Going To Pay Over $32,000 For A 25-Year-Old Toyota 4Runner
The (and Tacoma) have a death grip on used values. It’s been this way for years. Go ahead, go try and buy any TRD trim that’s a couple of years old; it’ll cost you as much as a new one — not that you could buy a new one...
May 17, 2025
Copyright 2023-2025 - www.zzdcar.com All Rights Reserved