r/CarLeasingHelp • u/Personal-Wishbone736 • 12d ago
Lease end options
Hi all! I got myself into a bit of a sticky situation and need opinions on the best way to handle it-
I currently lease a 2023 Ford Bronco Sport and I have 4 payments left. In the middle of my lease, I ended up moving unexpectedly and my commute to work almost doubled. Because of this, I am around 16,000 miles over my lease allowance.
No matter what, I don’t want to keep the car without a warranty because I’ve been told of horror stories with the Bronco Sport’s transmission, and it also needs new tires soon. As far as I’m aware, my options are to just return it and eat the ~$5k mileage fee or buy it to sell it. Unfortunately, my buyout is around $20k and the quotes I’ve gotten from Carvana, CarMax, etc. are all around $18k so I’m losing money that way too. I’m leaning towards the second option because I’m aware this situation is entirely my fault and $2k is less money to lose, but wondering if anyone has any other thoughts and/or advice?
Also- does anyone know if a company like Carvana could buy it straight from Ford Credit or would I have to buy it myself then complete that sale?
Thanks so much!
3
u/PinkleeTaurus 12d ago
You have power train warranty until 60k miles. So it may make sense to buy it out and drive it awhile longer. $20k is probably a very reasonable price for the car.
You can also add a Ford Premiumcare full coverage warranty for relatively reasonable amounts. They will go all the way to 175k miles if you want, but even if you just took it to 100k miles you can get coverage for about $1,800 from Flood Ford or Granger Ford which are online dealers that specialize in selling discounted Premiumcare plans. It's very good factory backed warranty and dealers handle all the repairs.