Right. It sounds like an open-end lease by a different name. It’s the no mention about residual I’m questioning. Open ended leases have a balloon payment (residual) at the end too. I’ll ask dealer for details as I’m curious. I’ll post what the dealer says when they reply.
If you take a withdrawal from regular IRA, all of your withdrawals are taxable as ordinary income. Withdrawals from Roth IRA are not taxed, including any earnings. Also Roth IRAs are not subject MRD withdrawals. So, by converting you are improving your tax situation in the future.
This 100%^^ Not only do you get lower payments, but all the risk is on Ford. If the truck is "worth"(Market value) more than residuals, buy it and sell for a profit. If its "worth" less than residuals...give it back to Ford and they eat the loss.
I thought the residual was set at "lease" start. If its not, then whats the point of announcing them 3-4yr in advance?
It is set at start - what @greenne is saying is that if the truck is worth more than that preset value at the end of the period - keep it. If not, then let Ford eat it.
As always ..read the fine print....but I'm pretty sure both you and Ford "agree" to what the residual value at the end of the lease when you sign for it at delivery (sans mileage and usage issues). I can't see Ford being able to get away with changing that "on the fly".
I'm not expecting ford to offer the incentive with the Lightning. If it does than that is the obvious choice.
Payments will depend on what you put down. Ford takes the truck back when your term is up or you pay the ballon payment. You choice. I used a similar program Audi had back in 2004, and 3 years later, I turned the car back in because it was worth less then the final ballon payment. I wasn't attached to the car so it was easy to walk away.
I think that means it applies to sales(deliveries) 1/4 - 3/31, theoretically a 2023 model could be worth more after 3yrs than a 2022 after 3 yrs, etc. As an aside, I wonder if a "wave 1" 2023 would be more valuable than a wave 6 2022 model? If I was chosen in wave 6 I wonder if it would be prudent(but risky) to roll your reservation to a 2023?
My take-- Like a lease you pay a penalty for excess mileage and/or condition.. but that would only apply if you turn the vehicle in. I've known a few people that ended up buying their lease because they had busted mileage it made it worth it to go ahead and purchase...
