Ford Options Website Launched To Explain End-Of-Term Choices

With Ford opting to previously keep tax credits granted to leased EV models like the Ford F-150 Lightning and Ford Mustang Mach-E, lessees have historically been at a bit of a disadvantage compared to those that finance or purchase those same vehicles. However, customers can also opt for the Ford Options plan, which is a bit of a hybrid option with balloon financing that provides lower monthly payments than a purchase, yet also requires a larger one-time payment at the end of the loan term and also puts the vehicle in a buyer’s name, unlike a lease, which allows them to claim the tax credit. Ford also shifted gears and began allowing owners to purchase EVs at the conclusion of their lease last year, and now, the automaker has launched a brand new Ford Options website to provide a little more clarity on that topic.

Ford Options customers have a few choices as they reach the end of their term – trading that vehicle in for a new one, paying it off and keeping it, refinancing with Ford Credit, or transferring ownership to Ford Credit to satisfy their required balloon payment. Those that choose to get a new Blue Oval vehicle and finance it with Ford Credit are able to waive the $475 disposal fee and don’t need to worry about things like inspections or excess mileage charges, too.

Those that choose to keep their vehicle only need to pay the remaining balance or refinance it, though returning it has more stipulations. Those include having a vehicle inspection completed, returning all keys, accessories, and charging cables, bringing the physical title to the dealer (in certain states where it’s required), and signing some paperwork. However, charges for excess mileage and wear and tear will apply.

The Ford Options site has some detailed information on how to complete each of these processes, as well as pictures and details pertaining to what constitutes excessive wear and tear. Overall, it’s great information for those participating in this hybrid type of plan, which operates much like a traditional lease.

We’ll have more on the Ford Options plan soon, so be sure and subscribe to Ford Authority for 24/7 Ford news coverage.