[Ford] 2021 Ford F-150 Lariat 502A - <$95/Week Lease
Deal is no longer available as of April 1.
Please check the most recent posts in this thread for ongoing discussions.
And don't forget to post pictures of your F-150 once it arrives!
----------------------------------
Deal Summary
No, this is not a beige '04 Corolla.
Right now you can factory order a brand new redesigned 2021 Ford F-150 Lariat 502A (4x4, Chrome or Sport package, 5.5' Box) from larger dealerships (primarily in the GTA ) for ~$95 a week plus tax with around $2000 down. That's an insanely good deal. MSRP is just over 68k. Big volume dealerships can offer these discounts on cars and trucks because of their sales volume and there are always manufacturer incentives. Combine that with a high residual after 24 months relative to the MSRP of the car and you've got an RFD!
2021 Ford F-150 4x4 Lariat 502A SuperCrew 5.5' Box
Chrome or Sport Package
2.7L V6
~$95/week, 24 month lease
Freight and Air Tax down ($2000)
16,000km/ year
2.99% APR
Ford Build and Price Tool - Use this to build a truck and see what it will look like, and to see what options you might want to add.
Ford Canada PDF Order Guide - Use this if you want a lot more details on the truck.
RFD Pricing Spreadsheet - Post your detailed numbers in here.
Frequently Asked Questions
How is this possible?
A bunch of different variables have lined up right now:
The majority of used pick-up trucks end up in the US after they come off lease or are traded-in. MSRP on trucks is very similar in USD, yet we pay in CAD and have access to better incentives up here. Once the truck is considered used, dealerships can make a fortune flipping these trucks at auction to a dealer in the US.
I'm in, how can I order one? Read the most recent posts. Then see below for a list of dealerships advertising the offer. I suggest you test drive a Lariat 502A at your local dealership and then walk out and do business remotely.
Any questions I should be asking a dealership? Ask about what kind of 'allocation' they have available and the lead times for a factory order. Most of the dealerships are quoting 2-6 months for delivery. Get a detailed quote from them. Don't go into a dealership unless you want to test drive. Do this remotely. It's 2021, we don't need to come in and talk.
Can I see a Window Sticker of one of these trucks? Sure go to Ford.ca and do a search for Lariat 502As at dealerships in your area. Here is a base 502A that has the FX4 and 20" Rim MSRP off-road discount combo
My local dealership is saying they cant do it or that I should be worried this is a scam of some kind: These volume dealerships push an insane number of vehicles out their doors each year. Your local dealership can't (or just doesn't want to) compete on price and they know it. That is not their dealership model. That being said, I would a) put good money on there definitely being some shady/clever behind the scenes stuff going on at these volume dealerships that the manufactures already know about and (somewhat) tolerate b) bet that you'll get a truck for the agreed upon price after waiting for your order to come in. If not, make some noise about it with OMVIC or social media. Dealerships hate bad press.
What about a higher trim level? Can I get one of those instead? Higher trim levels (King Ranch, Platinum, Limited) do not have the same high residual value relative to the MSRP and are not nearly as hot as the Lariat 502A. That said, dealers will lease you just about anything if you are willing to pay for it.
What about the lease deals I'm seeing on a lower trim level like XLT 300A or 302A? They're alright but nothing I would categorize as hot.
What's all this about doing only one lease payment to save some interest? Dealerships are able to structure this deal so that you would provide them with the total cost of the 24 month truck lease on delivery. Given that the 24 month APR is 2.99% and the 1 time payment option is 1.24%, you could save up to an additional $2000 when you look at this from a 'total cost of ownership' perspective. Now what this means if you want to eventually transfer the lease, or if you get into an accident and the truck is written off is another story. Transferring a lease with a pre-payment would probably deter some folks. Make sure your insurance includes the waiver of depreciation (gap insurance) to cover a total vehicle loss situation during your lease, especially if you pre-pay it. Ford Credit would receive the settlement from your insurance company and you would receive a refund for the balance of the lease term.
I'm working with a dealership right now that seems to be playing games with me. They wont be transparent with me on pricing, etc. Shop elsewhere. Free market capitalism.
Can I just go to my local dealership and buy one they have sitting on the lot? You could, but it wouldn't be as hot of a deal because there is a $1000 factory order incentive on until at least the end of January. Your local small Ford dealership (usually) cant match the discounts that larger volume dealerships want to offer. Volume dealerships rely on a) the number of deals done and b) back-end volume bonuses from the manufacturer that come after moving a certain number of units per month.
What would options do to the price of my lease? 32% of the price of the option would be added to the price of the vehicle, since this lease deal is calculated on a residual of 68%. A good estimate for a 16k/24month lease is to just take the MSRP of the option off the Ford Build and Price tool, multiply it by .32, and then divide by 104 payments to see how much it would add (or subtract) from the weekly cost of the truck. As an example, opting for Rapid Red Metallic ($450) would be around $1.32 a week plus tax and interest on top of that. Exceptions here are choosing a different engine or the combination of the FX4 and 20" wheel combo. Options create a larger spread between the MSRP and the residual value and make the deal less advantageous.
Are there any decent options worth looking at adding? Options are residualized in a lease situation, meaning they add Option MSRP Price *(100-the residual rate percent) to the cost of your lease. It depends on what is important to you. Options can quickly increase the cost of the lease since they increase the spread between the residual value of the vehicle and the price you pay for the truck. Adding the interior work surface could significantly delay your order since Ford still has that listed as a constrained option at the factory. (IE: They don't have enough to go around for everyone who wants it).
FX4+20" Rims is an interesting situation you should look at. Ford offers a $550 "off road" MSRP discount associated with it. The residualized value of those options is almost identical to the MSRP discount, so the price of the truck remains almost exactly the same.
Take a peek at this PDF document, look in the Lariat section, and then in the 502A column. Anything with an 'O' can be added to the base 502A truck.
Popular options include:
A 2.7L V6? Seriously? What about other engines or that new PowerBoost Hybrid V6? The 2.7L V6 is a twin turbo with 400lb or torque and is arguably the best and most reliable engine in the lineup right now. It's a beast of an engine. If you aren't planning on towing heavy loads this is the engine you want. If in doubt, go test drive one at your local dealership. Check YouTube for more too. The other engines (5.0 V8, 3.5 Ecoboost, and 3.5 Powerboost) can be added, however they significantly increase your lease cost because the combo of Lariat 502A and 2.7L V6 knocks $1500 off the MSRP of the truck and you have to pay the difference in price for the different engine. The hybrid Powerboost V6 is extremely limited availability in Canada right now and a really expensive option. The latest 'blend' stats a dealer sent me showed only 2% of 2021 F-150s in Canada would be built as hybrids.
What if I received a discount offer in the mail, or have an employee A/Z/D Plan PIN? Jackpot! Private cash offers you might have received (usually a targeted $750 for current Ford owners) or folks eligible for Employee/Retiree programs (A/Z Plan) help reduce the cost even further. A/Z Plan folks are looking at under $80 a week instead of around $90-95 and they can go to any dealership they want. Ford subsidizes the purchase price of A/Z Plan deals so you dont have to rely on dealership discounts for this deal to work. The question you want to ask yourself is what dealership can get me a truck the fastest. Dealership staff qualify for D-Plan pricing which is just slightly above A/Z.
This is one of those in house financing deals right? Balloon payments at the end? Nope. The vehicle is financed directly through Ford Credit. There are no balloon payments.
What if I just bought the vehicle outright or financed it instead? Buying the vehicle outright or financing it and then trading it in or selling privately after a similar period of time could indeed lead to a better overall cost of ownership, and incentives for cash/financing will continue to get better as the model year progresses. The difference here is that Ford is assuming the risk that the value of the truck will be less than the residual value in 24 months time. You also don't have to tie up a whack of cash in a depreciating asset and can keep that balance of lease vs financing (or a cash purchase lump sum) invested. You also have the option to buy the truck out so you could keep an eye on trade-in values with dealers and leverage the value of the truck down the road. Ford is essentially buying market share here. Remember with a lease you are limited on km's and you need to ensure the truck doesn't come back all dinged up at the end of two years to avoid excess wear charges. Excess kilometers are .16 each.
What if I need more kilometers per year? Opting for 20,000km per year (40,000km total) drops the residual price of the truck by 1%, or about $650-700 over the course of the lease. 25,000km is also available but that is a further 2% reduction in the residual. Excess kilometers are .16 cents a piece if you don't opt for the extra mileage upfront.
What if the deal gets better once the truck arrives? When you factory order a car with Ford, you can take either take the pricing that was agreed upon at the time the order was submitted or you can choose to work with what is available once the vehicle arrives.
What if I want out of the lease eventually? Sites like LeaseBusters can be used to 'get out of' or transfer a lease. With a monthly payment like this I expect there would be very little difficulty doing that down the road if you so choose.
Leasing is throwing money away, and I dont get why this is so hot. I mean I can't help you there. Try and find a similar deal on on a different vehicle with an MSRP of 70k.
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I ordered a truck, now what?
---------
Videos
Keep in mind that these videos feature trucks that include options (like a different engine, the bed power system, upgraded B&O audio, sunroof, 20" Rims and Tires, the FX4 package, etc.) that are not standard on the 502A. Both the Sport and Chrome package are part of this deal.
Please check the most recent posts in this thread for ongoing discussions.
And don't forget to post pictures of your F-150 once it arrives!
----------------------------------
Deal Summary
No, this is not a beige '04 Corolla.
Right now you can factory order a brand new redesigned 2021 Ford F-150 Lariat 502A (4x4, Chrome or Sport package, 5.5' Box) from larger dealerships (primarily in the GTA ) for ~$95 a week plus tax with around $2000 down. That's an insanely good deal. MSRP is just over 68k. Big volume dealerships can offer these discounts on cars and trucks because of their sales volume and there are always manufacturer incentives. Combine that with a high residual after 24 months relative to the MSRP of the car and you've got an RFD!
2021 Ford F-150 4x4 Lariat 502A SuperCrew 5.5' Box
Chrome or Sport Package
2.7L V6
~$95/week, 24 month lease
Freight and Air Tax down ($2000)
16,000km/ year
2.99% APR
Ford Build and Price Tool - Use this to build a truck and see what it will look like, and to see what options you might want to add.
Ford Canada PDF Order Guide - Use this if you want a lot more details on the truck.
RFD Pricing Spreadsheet - Post your detailed numbers in here.
Frequently Asked Questions
How is this possible?
A bunch of different variables have lined up right now:
- Residual values (how much a leasing company says a vehicle will be worth after x number of months and kilometers travelled) are calculated on the MSRP of a vehicle.
- Residual values are initially set and then gradually reduce throughout a model year. In the case of a 16k/24 month lease on a 2021 F-150 502A SuperCrew the residual value after 24 months and 32,000km is 68% of the MSRP. For 24m/40km the residual is 67%
- Manufacturer incentives discount the MSRP price of the truck.
- Some dealerships are willing to eat into their profits to provide a further dealer discount, especially at larger dealers that work on pushing a high volume of vehicles out their doors.
- In a lease you are responsible for paying the difference between the price of a truck after dealer discounts and manufacturer incentives and the residual value of that truck after the agreed upon lease duration. That difference (known as the depreciation) is particular tight right now on a 32,000/40,000km 24 month lease at dealerships willing to provide a deep dealer discount on the selling price of the truck.
- You also need to pay tax on the depreciation plus lease interest charges, and some mandatory fees and taxes like OMVIC and licensing.
- The interest rate for a 24 month lease is currently 2.99%.
- More information on leases over here
The majority of used pick-up trucks end up in the US after they come off lease or are traded-in. MSRP on trucks is very similar in USD, yet we pay in CAD and have access to better incentives up here. Once the truck is considered used, dealerships can make a fortune flipping these trucks at auction to a dealer in the US.
I'm in, how can I order one? Read the most recent posts. Then see below for a list of dealerships advertising the offer. I suggest you test drive a Lariat 502A at your local dealership and then walk out and do business remotely.
Any questions I should be asking a dealership? Ask about what kind of 'allocation' they have available and the lead times for a factory order. Most of the dealerships are quoting 2-6 months for delivery. Get a detailed quote from them. Don't go into a dealership unless you want to test drive. Do this remotely. It's 2021, we don't need to come in and talk.
Can I see a Window Sticker of one of these trucks? Sure go to Ford.ca and do a search for Lariat 502As at dealerships in your area. Here is a base 502A that has the FX4 and 20" Rim MSRP off-road discount combo
My local dealership is saying they cant do it or that I should be worried this is a scam of some kind: These volume dealerships push an insane number of vehicles out their doors each year. Your local dealership can't (or just doesn't want to) compete on price and they know it. That is not their dealership model. That being said, I would a) put good money on there definitely being some shady/clever behind the scenes stuff going on at these volume dealerships that the manufactures already know about and (somewhat) tolerate b) bet that you'll get a truck for the agreed upon price after waiting for your order to come in. If not, make some noise about it with OMVIC or social media. Dealerships hate bad press.
What about a higher trim level? Can I get one of those instead? Higher trim levels (King Ranch, Platinum, Limited) do not have the same high residual value relative to the MSRP and are not nearly as hot as the Lariat 502A. That said, dealers will lease you just about anything if you are willing to pay for it.
What about the lease deals I'm seeing on a lower trim level like XLT 300A or 302A? They're alright but nothing I would categorize as hot.
What's all this about doing only one lease payment to save some interest? Dealerships are able to structure this deal so that you would provide them with the total cost of the 24 month truck lease on delivery. Given that the 24 month APR is 2.99% and the 1 time payment option is 1.24%, you could save up to an additional $2000 when you look at this from a 'total cost of ownership' perspective. Now what this means if you want to eventually transfer the lease, or if you get into an accident and the truck is written off is another story. Transferring a lease with a pre-payment would probably deter some folks. Make sure your insurance includes the waiver of depreciation (gap insurance) to cover a total vehicle loss situation during your lease, especially if you pre-pay it. Ford Credit would receive the settlement from your insurance company and you would receive a refund for the balance of the lease term.
I'm working with a dealership right now that seems to be playing games with me. They wont be transparent with me on pricing, etc. Shop elsewhere. Free market capitalism.
Can I just go to my local dealership and buy one they have sitting on the lot? You could, but it wouldn't be as hot of a deal because there is a $1000 factory order incentive on until at least the end of January. Your local small Ford dealership (usually) cant match the discounts that larger volume dealerships want to offer. Volume dealerships rely on a) the number of deals done and b) back-end volume bonuses from the manufacturer that come after moving a certain number of units per month.
What would options do to the price of my lease? 32% of the price of the option would be added to the price of the vehicle, since this lease deal is calculated on a residual of 68%. A good estimate for a 16k/24month lease is to just take the MSRP of the option off the Ford Build and Price tool, multiply it by .32, and then divide by 104 payments to see how much it would add (or subtract) from the weekly cost of the truck. As an example, opting for Rapid Red Metallic ($450) would be around $1.32 a week plus tax and interest on top of that. Exceptions here are choosing a different engine or the combination of the FX4 and 20" wheel combo. Options create a larger spread between the MSRP and the residual value and make the deal less advantageous.
Are there any decent options worth looking at adding? Options are residualized in a lease situation, meaning they add Option MSRP Price *(100-the residual rate percent) to the cost of your lease. It depends on what is important to you. Options can quickly increase the cost of the lease since they increase the spread between the residual value of the vehicle and the price you pay for the truck. Adding the interior work surface could significantly delay your order since Ford still has that listed as a constrained option at the factory. (IE: They don't have enough to go around for everyone who wants it).
FX4+20" Rims is an interesting situation you should look at. Ford offers a $550 "off road" MSRP discount associated with it. The residualized value of those options is almost identical to the MSRP discount, so the price of the truck remains almost exactly the same.
Take a peek at this PDF document, look in the Lariat section, and then in the 502A column. Anything with an 'O' can be added to the base 502A truck.
Popular options include:
- Twin Panel Moonroof
- 360 Degree Camera
- 20" Wheels
- FX4 Off-Road Package
- 18 Speaker B&O Unleashed Audio System
- Drop in/Spray in Bedliner (You probably want to opt for one of these since the residualized cost is far less than what you could buy and resell one for after 24 months.)
A 2.7L V6? Seriously? What about other engines or that new PowerBoost Hybrid V6? The 2.7L V6 is a twin turbo with 400lb or torque and is arguably the best and most reliable engine in the lineup right now. It's a beast of an engine. If you aren't planning on towing heavy loads this is the engine you want. If in doubt, go test drive one at your local dealership. Check YouTube for more too. The other engines (5.0 V8, 3.5 Ecoboost, and 3.5 Powerboost) can be added, however they significantly increase your lease cost because the combo of Lariat 502A and 2.7L V6 knocks $1500 off the MSRP of the truck and you have to pay the difference in price for the different engine. The hybrid Powerboost V6 is extremely limited availability in Canada right now and a really expensive option. The latest 'blend' stats a dealer sent me showed only 2% of 2021 F-150s in Canada would be built as hybrids.
What if I received a discount offer in the mail, or have an employee A/Z/D Plan PIN? Jackpot! Private cash offers you might have received (usually a targeted $750 for current Ford owners) or folks eligible for Employee/Retiree programs (A/Z Plan) help reduce the cost even further. A/Z Plan folks are looking at under $80 a week instead of around $90-95 and they can go to any dealership they want. Ford subsidizes the purchase price of A/Z Plan deals so you dont have to rely on dealership discounts for this deal to work. The question you want to ask yourself is what dealership can get me a truck the fastest. Dealership staff qualify for D-Plan pricing which is just slightly above A/Z.
This is one of those in house financing deals right? Balloon payments at the end? Nope. The vehicle is financed directly through Ford Credit. There are no balloon payments.
What if I just bought the vehicle outright or financed it instead? Buying the vehicle outright or financing it and then trading it in or selling privately after a similar period of time could indeed lead to a better overall cost of ownership, and incentives for cash/financing will continue to get better as the model year progresses. The difference here is that Ford is assuming the risk that the value of the truck will be less than the residual value in 24 months time. You also don't have to tie up a whack of cash in a depreciating asset and can keep that balance of lease vs financing (or a cash purchase lump sum) invested. You also have the option to buy the truck out so you could keep an eye on trade-in values with dealers and leverage the value of the truck down the road. Ford is essentially buying market share here. Remember with a lease you are limited on km's and you need to ensure the truck doesn't come back all dinged up at the end of two years to avoid excess wear charges. Excess kilometers are .16 each.
What if I need more kilometers per year? Opting for 20,000km per year (40,000km total) drops the residual price of the truck by 1%, or about $650-700 over the course of the lease. 25,000km is also available but that is a further 2% reduction in the residual. Excess kilometers are .16 cents a piece if you don't opt for the extra mileage upfront.
What if the deal gets better once the truck arrives? When you factory order a car with Ford, you can take either take the pricing that was agreed upon at the time the order was submitted or you can choose to work with what is available once the vehicle arrives.
What if I want out of the lease eventually? Sites like LeaseBusters can be used to 'get out of' or transfer a lease. With a monthly payment like this I expect there would be very little difficulty doing that down the road if you so choose.
Leasing is throwing money away, and I dont get why this is so hot. I mean I can't help you there. Try and find a similar deal on on a different vehicle with an MSRP of 70k.
---------
I ordered a truck, now what?
- Get a hold of the DORA (Dealer Order Receipt Acknowledgement) from your dealership. It's a confirmation document that the dealership receives within 24 hours of placing the order with Ford that confirms they actually ordered your truck in your name. It also confirms all the options you wanted added to the truck. They can definitely share the DORA with you so push them for it.
- Post in here to let others know how your experience was with a certain dealership. Better yet, post all the financial details and blank out your personal information to help others.
- Stay in touch with your sales rep and have them keep you updated on when the truck will be scheduled to build. Lots of great information over here on how the Ford order and scheduling process works.
- Your truck will be scheduled to build at either the Ford Truck plant in Dearborn, Michigan or the one on Kansas City (Claycomo, Missouri). Your truck will first be scheduled to a week and receive a VIN number. It will eventually get a specific build date. Use this site to track some of the details. Your dealership has access to what is called a vehicle visibility report. Ask them for updates every now and then if you're interested in tracking the progress.
- Use FordTracker to see some order details on your truck once you have a VIN number.
- Poke your head into F150Forum and F150Gen14 if you want to talk with or read about your new truck with enthusiasts
- Start thinking about or pre-ordering accessories for your truck like tonneau covers, and floor mats.
---------
Videos
Keep in mind that these videos feature trucks that include options (like a different engine, the bed power system, upgraded B&O audio, sunroof, 20" Rims and Tires, the FX4 package, etc.) that are not standard on the 502A. Both the Sport and Chrome package are part of this deal.
Last edited by lardiop1 on Apr 17th, 2021 2:50 am, edited 101 times in total.