Lease ending in June 2024 - thoughts on what to do next?

[scrubaducky]

Hi folks,

The lease on my 2022 XLT 4x4 will be ending in June this year and I'm at a bit of a crossroads on what to do with it. The buyout cost for the lease is $28k more or less, and will have about 16-17000 miles on by then. Its also in great interior and exterior condition, with only one tiny paint nick on a door panel.

My initial thoughts would be to buy the truck, but I am concerned about the loss of resale value going forward, and more importantly some concerns about the reliability issues these trucks seem to be developing. I don't know much specifics, just skimming over what others have posted about on here.

I don't necessarily need a truck going forward, though me and my wife do like it. The other option would be likely to buy a certified pre-owned truck or subaru outback as space and capability compromise.

Am I just overthinking the reliability issues? Or is this 28k buyout value too good to pass up?
I have an excellent credit score so I'll be getting the best possible financing option from my credit union or dealership no matter what option I go with.

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[Jacob]

Hi folks,

The lease on my 2022 XLT 4x4 will be ending in June this year and I'm at a bit of a crossroads on what to do with it. The buyout cost for the lease is $28k more or less, and will have about 16-17000 miles on by then. Its also in great interior and exterior condition, with only one tiny paint nick on a door panel.

My initial thoughts would be to buy the truck, but I am concerned about the loss of resale value going forward, and more importantly some concerns about the reliability issues these trucks seem to be developing. I don't know much specifics, just skimming over what others have posted about on here.

I don't necessarily need a truck going forward, though me and my wife do like it. The other option would be likely to buy a certified pre-owned truck or subaru outback as space and capability compromise.

Am I just overthinking the reliability issues? Or is this 28k buyout value too good to pass up?
I have an excellent credit score so I'll be getting the best possible financing option from my credit union or dealership no matter what option I go with.

I would NOT buy it. If leasing works for you and you can stay under the mileage limits. Just lease a new one.
Also if you truly wanted it, you wouldn’t ask us for our opinion. There’s something there keeping you from buying it outside the lease. I used to do this a lot. Get the next gen or a 150 and keep us updated. ??

 

[9zero1790]

Hi folks,

The lease on my 2022 XLT 4x4 will be ending in June this year and I'm at a bit of a crossroads on what to do with it. The buyout cost for the lease is $28k more or less, and will have about 16-17000 miles on by then. Its also in great interior and exterior condition, with only one tiny paint nick on a door panel.

My initial thoughts would be to buy the truck, but I am concerned about the loss of resale value going forward, and more importantly some concerns about the reliability issues these trucks seem to be developing. I don't know much specifics, just skimming over what others have posted about on here.

I don't necessarily need a truck going forward, though me and my wife do like it. The other option would be likely to buy a certified pre-owned truck or subaru outback as space and capability compromise.

Am I just overthinking the reliability issues? Or is this 28k buyout value too good to pass up?
I have an excellent credit score so I'll be getting the best possible financing option from my credit union or dealership no matter what option I go with.

dump it while the miles are low and move on.

 

[Frenchy]

I'm with @Jacob on this. If you have to ask us if it's worth it, then chances are it's not. If leasing a vehicle works out for you then I say keep that route. With that said don't be afraid to spend money on factory replacement parts for whatever vehicle you have as it will help maintain the vehicle contract.

That said if you and the wife really do like the truck then I'm sure you can figure a way out to keep it and make sure the truck stays in good shape. Yes it will cost some money, but it be a lot less than a major repair.

 

[jflogerzi]

I still think leasing is a waste of money. how much have you already paid to date with tax, title and license. On a used market a 4x4 and those miles your not going to come close to that price. all cars depreciate. honestly I would not factor that in. Warranty issues are a decent concern but look at an esp through Granger. Any newish car is gonna be around that 25-35k range.

 

[Todd Chapin]

I bought out my lease and got a 100k 8 years extended warantee. I also did all the mods I did not do when leased. Its now paid off at 54k miles and I plan on keeping it long term. Its resale value is still not much less than I paid new in 2019. For me it was a good option. Prior to this I had not keep a vehicle over 3 years. Also I have mechanical issues and followed maintenance metculously.

 

[JohnnyO]

You don’t put on a lot of miles so you’re probably getting a good price on your lease.
I would just lease another one.
That being said….
If you want another Ranger I would talk to the dealer pretty soon about ordering one so it arrives when you need it. The Ford dealers near me almost never have any Rangers. A bud of mine ordered a new Tremor last year and it took 6 months.

 

[Jason B]

I'd check the used car prices based on your truck's details. If the retail price is 28K or more, I would buy it. If the value is less, I would turn it in a lease another, that's if you can find one.
KBB shows a '22 SCREW 4x4 in very good condition valued at 29,614 to 31,841.

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