Ford Ending Lease Buyouts For All Its Electric Vehicles In The US

Ford appears to be taking another page from the Tesla book as it has reportedly eliminated the purchase option for new EV leases in 37 states.

In a letter sent to dealers and seen by Direct Cars, Ford says the decision will support the company’s efforts to become carbon neutral and reduce battery production costs in the United States. The cost of batteries remains a major hurdle for automakers switching to electric vehicles.

“Purchasing the BEV Lease helps us achieve our goal of achieving carbon neutrality by 2050 by monitoring the vehicle’s battery throughout its lifespan, keeping it in the Ford network.

Ford Motor Company is committed to making Battery Electric Vehicles (BEVs) more sustainable and affordable for our customers by locating the complex battery supply chain web, creating recycling options for end-of-life vehicles and increasing battery production in the United States. »

Letter from Ford to US Dealers

Effective June 15, Ford Credit updated its new lease agreements in 37 states to add the statement “you do not have the option to purchase the vehicle at the end of the lease term.” The letter also notes that the remaining 13 states and the District of Columbia will see the change “before the fourth quarter” this year. A Ford Credit spokesperson confirmed Direct Cars that the letter is correct.

The 37 states losing the buyout option for new EV leases include the nation’s largest EV markets, such as California, Florida, Texas, Washington, New York, Arizona, Oregon, Georgia, Illinois, Massachusetts, Virginia, etc. (see the full list at the bottom of this page).

Ford’s decision to eliminate the option to buy at the end of a lease comes after Tesla did the same in April for all of its models after limiting lease buyouts for years on some models.

Interestingly, Ford’s lease buyout changes will only affect the Mustang Mach-E, F-150 Lightning and E-Transit, i.e. all of the brand’s EV models on sale today. today. The letter to dealers makes no mention of hybrids and plug-in hybrids like the Ford Escape PHEV.

By focusing exclusively on its electric vehicles, Ford’s changes could signal its intention to better control the life cycle of its electric vehicles.

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Delaware
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Kentucky
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • Caroline from the south
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wyoming

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