advice...Considering paying off lease early, Than Finance buy out price.

[cyclone vampire]

I have a 04 f150 reg cab xlt long box 4x4. 5.4, black, lower grey. In sept 04 I took this truck on a two year lease, payments of 521.00 CDN a month, put security deposite/first month payment down.

Residuals are higher on Reg cab truck's cause they don't sell lease as well as the spuer cabs/crew.

I'm now considering buying out my lease, I have the cash to do so, than I would finace the truck which was 35,000 new, buyout is 25,000 +gst and what ever intrest rate the bank or ford credit will give me.

This truck has been trouble free, 17,000 km, I upgraded the tires, (kept the old garbage tires that came with the truck)


I have no intention of paying of the lease and giving the truck back 16 months early, but paying off the lease now is going to free up my payments. I have no intention of investing the money, RRSP and GIC are not matching inflation, got to figure some thing else out....

Every time I have bought or leased a car/truck, I have allway's been up side down, this truck has been trouble free, which is promting me to buy it, unforunitly, I need a dependable truck for my job.

Curious as to my chances of getting a new 05 f-150 with same options accept the rear reversing sensing systen (Hate it) for the buy out price of my 04,at 0%, (Knowing that 0% is just built into the cost of the truck ), I don't have faith in taking a chance again on ford with a 05, But I'm considering doing so.

I got into this lease because in 02 I bought a brand new ford f-150that gave me nothing but hedaches, I owed more than the beast was worth, due to credit issues, Ford credit was the ony instatution that would deal with me on a two year lease.

I'm shopping for a dodge or gm-chev right now as a $ comparitson to my truck and the price of a 05 f-150, I don't want or need a super crew or extended cab, Finding a reg cab truck in a color othier than white is all most impossibe, this time arround, no 4x4 unless I buy my 04

In two years from now, I want what ever I buy to be paid for, if I buy out the lease now, do I have any equity in the 04 that can be transferd to a 05 on a trade.

Going to talk shop with my dealer soon, What I really want is a 6sp f250 xlt reg cab 4x4 8 ft box with the 6.0 D. engine, but that's ahead of my reach, 45,000 plus..+ +..

Any thought's and advice?
Main goal here is no payment's and a paid new to 2 year old truck in two years, no more fricking leasing.

Dodge and Gm dealerships want me in thier truck's, creatively, they added waht I owe on the ford and subtracted it from my cash on hand, leaving me with 0. And they think thier giving me a deal...If my ford dealer pulls this on me, I'm keeping the truck for the rest of my lease, than givie it back, and buy a 700.00 truck every six months or so.

Note: I have had better sucess with junkers and investing large or small amounts of cash to nurse them along than thease big ticket trucks.

[cyclone vampire]

Okay...so here it is...Paid off the lease to ford credit....Went shopping for a 05 reg cab f-150 XLT long box, Black, lower grey with the same option's as the 04, 5.4 4x4, Rear window defoger, Reverse sensing system delux mirror package, shift on the fly dial, power adj pedals, Fac, running boards, Tow package, 135 LT tank, Skid plates, 355 LTD slip,.....

Not one exist's in Canada my Ford dealer tells me.....How abought a super cab, No NO I repaet, two small for work And I'm not buying a trailer.......Sales guy pushed hard to get me to lease again on a factery order, When I said no, I get flack for having over sized tires on the truck LT 265 70 17 After they did the Apprasial....Dealer's worried the Milage is wrong, Tires have been on the truck for four months.

My 04 only has 17,000 km on it, no dent's tears, ect, no doubt they wanted the truck back...Once they Realized I was not going to deal on a 05, I Put an extra 2,000 towards my down payment, Bought my truck threw ford Credit, Should be mine in four years, and I did not buy extended warenty coverage... I'm Happy, Sale's person is pissed at me cause he lost a sale on a 05, He 's the same one who I delt with when I leased the 04....Hope all go's well.....

[Josiah]

GIC is a 3 or 4% return each year right? I wish we had that in the US, anyway I could do this from the US? From what I understand, you give them money, it's locked in for a set amount of years and you can't touch it, when the wait is up you get your money back plus interest, correct?