Three Cobras Posted August 2, 2006 Report Share Posted August 2, 2006 I have talked to Ford Credit - actually talked to a real person, who asked me to FAX the PL stuff since she wasn't familiar with it, AND she called back with an update! Had to sit down and get my breath back after that unusual event. Also talked to Andrew at FP / SVT. And they both talked to my dealer. All this on a Smog Alert / Hard Breathing day here. Anyway, 'they' do not have the final details in place for early lease terminations, but they promised to have the final plan worked out next Monday. I have been promised Andrew will call me personally. I know, I know. I've thought of many of the questions you're thinking, and snappy comebacks as well. Yes, this is not a surprise to Ford / Ford Credit and should have been planned for long ago. Just like the option letter that showed up nearly two years after the promised date. I know. Anyway, that's the latest. As I said elsewhere, as was recommended to me, keep your payments up to date until this is resolved. Do not risk default even if you think you are right. It's not worth screwing up your credit and then having to fix that problem later. FWIW, I went back to the dealer and retrieved my '04 Cobra and had the insurance put back on because the dealer said his insurance did not give 'safe harbor' to lease cars. I am going before and making the world a better place for PL holders. Illigitimus Non Carborundum, Triviatum Non Perspiratum. Link to comment Share on other sites More sharing options...
Three Cobras Posted August 9, 2006 Author Report Share Posted August 9, 2006 An updated update for those of you - the loneliest guys in town - PowerLease holders with a GT500 at home. According to the dealer quoting from Andrew at FP, the numbers will be out today to deal with early PL termination (!!) of the '04 Cobra leases. The gist of what I've heard is that Ford Credit will (apparently) waive up to the last three lease payments. The user will still be responsible for excessive wear and mileage over the agreed limit. Not yet clear if that means FC will refund any lease payments if you are already inside the three month limit. For example, my lease is up Oct 15th, but I have only two more payments. There is no October payment, according to FC, because you paid that up front when you first began the lease. I'll post the final gouge when I get it. End is in sight. Link to comment Share on other sites More sharing options...
5.4 Shelby Posted August 9, 2006 Report Share Posted August 9, 2006 An updated update for those of you - the loneliest guys in town - PowerLease holders with a GT500 at home. According to the dealer quoting from Andrew at FP, the numbers will be out today to deal with early PL termination (!!) of the '04 Cobra leases. The gist of what I've heard is that Ford Credit will (apparently) waive up to the last three lease payments. The user will still be responsible for excessive wear and mileage over the agreed limit. Not yet clear if that means FC will refund any lease payments if you are already inside the three month limit. For example, my lease is up Oct 15th, but I have only two more payments. There is no October payment, according to FC, because you paid that up front when you first began the lease. I'll post the final gouge when I get it. End is in sight. How much is the residual? Do you have the option of buying it out? Link to comment Share on other sites More sharing options...
Three Cobras Posted August 10, 2006 Author Report Share Posted August 10, 2006 5.4 - It's about $20.7K. I have the option, but not the money or desire to buy it out. Link to comment Share on other sites More sharing options...
Five Oh B Posted August 10, 2006 Report Share Posted August 10, 2006 Three Cobras, we got the final letter (and instructions) from Ford Credit yesterday on terminating a Terminator lease early. They will waive up to the last 3 payments, with the operative words being "up to." That means that if you have just 2 payments left, they won't be reimbursing you the last one you made. E-mail outside the forums if you'd like me to e-mail you the instructions we received. Link to comment Share on other sites More sharing options...
5.4 Shelby Posted August 10, 2006 Report Share Posted August 10, 2006 5.4 - It's about $20.7K. I have the option, but not the money or desire to buy it out. When I asked I was on a GT500 downer. I was looking for other options since I still don't have a deal for a Shelby. Link to comment Share on other sites More sharing options...
Mach1Fun Posted August 11, 2006 Report Share Posted August 11, 2006 Looking to buy a PowerLease Option if anyone wants to sell... email me at jon@bcmc.net. Thanks! Jon Link to comment Share on other sites More sharing options...
Three Cobras Posted August 11, 2006 Author Report Share Posted August 11, 2006 B)--> QUOTE(Five Oh B @ Aug 10 2006, 02:10 PM) 34243[/snapback] Three Cobras, we got the final letter (and instructions) from Ford Credit yesterday on terminating a Terminator lease early. They will waive up to the last 3 payments, with the operative words being "up to." That means that if you have just 2 payments left, they won't be reimbursing you the last one you made. E-mail outside the forums if you'd like me to e-mail you the instructions we received. Brian - Thanks. My dealer has it, and I expect to close the lease out this afternoon. I'll PM if there's any problem. I want to say thanks again for your help to me and others here. I was able to get my deal done and keep it on track because of the timely and helpful information you and ISELLFORD provided. The work continues for others not yet as fortunate as me or some of the other posters. But I can say I personally have benefited from your help. Thanks. Link to comment Share on other sites More sharing options...
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