The all-new, 2024 Ford Ranger has thus far gotten off to a bit of a rough start in terms of its launch in North America, as supply chain constraints prompted The Blue Oval to start pushing back build dates in early September. Production remained severely constrained even before the United Auto Workers (UAW) union walked out of the Michigan Assembly plant a couple of weeks later – where the Ranger and Ford Bronco are built – and with that process now completely halted, Ford also opted to cancel lease deals for the redesigned pickup. However, those looking to lease a 2024 Ford Ranger may be in line for a superb deal regardless, as the pickup’s residual values are rather high, according to a dealer leasing guide recently seen by CarsDirect.
Residual values for the 2024 Ford Ranger vary based on term, trim, and configuration, but top out at a whopping 75 percent for the XL trimmed SuperCrew 4×4 pickup with a 24-month lease – which is better than even the ongoing 2023 Ranger in that same configuration, which has a residual value of 69 percent. Even the Ranger Raptor – which has the lowest residual value of the bunch – comes in at 68 percent with a two-year term.
Moving up to a 36-month lease dampers these values a bit, with the XL SuperCrew 4×4 coming in at 68 percent, the XLT at 67 percent, the Lariat at 64 percent, and the Ranger Raptor at 61 percent. Interestingly, four-wheel drive models get a one percent advantage in terms of residual value compared to two-wheel drive models, making them a better deal this time around.
Though Ford hasn’t yet listed any 2024 Ranger pricing on its online payment estimator, higher residual values typically lead to better deals and a lower monthly payment. A higher residual value essentially means that a vehicle is expected to retain more of its value over the course of the lease, leading to less depreciation, which is what makes up most of a lease payment.