By all indications, Ford will eliminate the purchase option on new EV leases in several states in a shocking move from the automaker.
However, the lease-purchase option changes will only affect the Mustang Mach-E, F-150 Lightning and E-Transit.
In a letter sent to dealers earlier this week, Ford noted the reason for the move was twofold: (via CarsDirect)
Ford Motor Company is committed to making Battery Electric Vehicles (BEVs) more sustainable and affordable for our customers by localizing the complex battery supply chain network, creating recycling options for end-of-life vehicles, and increasing U.S. battery production. The purchase of the BEV Lease is to aid in our goal of delivering carbon neutrality by 2050 by controlling the vehicle battery through its life, keeping it in the Ford network.
The new lease agreements that will go active in 37 states specify that:
you do not have the option to purchase the vehicle at the end of the lease term.
Lease purchase options allow drivers to buy their car at the end of a lease for a predetermined amount of money based mainly on residual value.
Tesla has long limited lease buyouts on specific models and discontinued the lease-purchase option in April.
However, there is no word on if Ford Canada will put in a similar rule for their purchase lease agreements.
