Equity buyback!

[Firechief48]

I order a 2025 R1T when Rivan came out with the equity buyout program. Was told I could payoff loan and put the maximum amount allowed down on a new lease.
Instead they are just returning the whole equity amount to me.

My lease payments are $600 more without the down payment. I now had to open a new checking account to put the money into to pay the lease.

It's almost the same, but not what I was promised by salesperson.

It is taking the joy out of the new truck experience.

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[hammick]

I order a 2025 R1T when Rivan came out with the equity buyout program. Was told I could payoff loan and put the maximum amount allowed down on a new lease.
Instead they are just returning the whole equity amount to me.

My lease payments are $600 more without the down payment. I now had to open a new checking account to put the money into to pay the lease.

It's almost the same, but not what I was promised by salesperson.

It is taking the joy out of the new truck experience.

I suggest you open an Account online with CIT Bank. They are paying 4.1% currently and have no fees. You can set up auto payments to Chase for your lease. I've have an account with them for a few years now. At one point they were paying 5.5%

Best way to handle a lease is with 0 down. Earn some interest on your cash. Plus if you R1T gets' totaled you have a hell of a time trying to get your equity back.

 

[Tim-in-CA]

NEVER put money down on a lease. If it is totaled in an accident, then your cap reduction (aka down payment) is GONE! As mentioned, put your money in a HYSA instead.

 

[Judd]

^^ agree with the posts above me.

But most importantly if they are taking the enjoyment out…walk away, you’ll hate the vehicle every time you look at it. I been there…fwiw - I didn’t keep it long because that exact reason.

 

[mkhuffman]

NEVER put money down on a lease. If it is totaled in an accident, then your cap reduction (aka down payment) is GONE! As mentioned, put your money in a HYSA instead.

Well, crap. I put $25k down so I could tell my wife the monthly payment was the same as my traded in Mach-e. I didn't think about this aspect.

I plan to upgrade to Gen3 in three years and that one, assuming it has meaningful improvements like 800V and NACS, I will buy instead of lease. At least that is the plan. I certainly don't plan to total it. Crap.

 

[Tim-in-CA]

Well, crap. I put $25k down so I could tell my wife the monthly payment was the same as my traded in Mach-e. I didn't think about this aspect.

I plan to upgrade to Gen3 in three years and that one, assuming it has meaningful improvements like 800V and NACS, I will buy instead of lease. At least that is the plan. I certainly don't plan to total it. Crap.

Yea, it’s really unfortunate. If you make the claim, your insurance will push to cover only what is owed. If you make a claim against someone else’s insurance, you can fight to get more reimbursement based on value. Definitely sucks.

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