The recently released 2024 Ford Ranger is experiencing some initial hiccups in its North American launch due to supply chain issues. This has been further exacerbated by production delays and the United Auto Workers (UAW) union’s decision to cease operations at the Michigan Assembly plant, where the Ranger and its sibling, the Ford Bronco, are manufactured.
Yet, potential lessees of the 2024 Ford Ranger might still find themselves with an attractive proposition. Recent data from a dealer leasing guide, as reported by CarsDirect, suggests that the truck boasts impressively high residual values. Depending on its model, trim, and specific features, these residual values can reach up to a significant 75 percent for a 24-month lease on the XL SuperCrew 4×4 variant. This figure surpasses even the 2023 Ranger model, which has a residual value of 69 percent for the same configuration. The Ranger Raptor, though at the lower end of the residual value spectrum, still holds a respectable 68 percent for a two-year lease.
Opting for a longer 36-month lease sees a slight decrease in these values. The XL SuperCrew 4×4 stands at 68 percent, followed by the XLT at 67 percent, the Lariat at 64 percent, and the Ranger Raptor at 61 percent. An interesting observation is the slight edge four-wheel drive models have over their two-wheel drive counterparts, boasting a one percent higher residual value.
Ford has yet to update its online payment estimator with the 2024 Ranger‘s pricing details. However, high residual values often translate to more favorable lease terms and reduced monthly payments. Essentially, a higher residual value indicates a vehicle’s potential to retain a larger portion of its original value throughout the lease duration, resulting in lower depreciation costs, a primary component of lease payments.
