Leasing a Ford

For many people, leasing a Ford, or agreeing to pay for its use for a predetermined number of months, offers numerous advantages over purchasing. It depends on many factors, from budget to general preference, and some of those factors are more complex than others.

Less Money Down, Lower Monthly Payments

The month-to-month cost of leasing is generally lower than on a purchase. All cars depreciate when they leave the dealership, and with a lease the depreciation is rolled in to the monthly payments. With a purchase, the car buyer covers the full cost of the car (whether it is financed or not), yet sees it lose value immediately.

Depending on the terms of your particular lease contract, you may spend less on your amount due at signing versus a down payment on a purchased vehicle. That sign-on amount will cover required fees, security deposit, and usually your first payment. APRs may be lower on a lease than on a purchase, depending on the offers in effect at the time.

New Car All the Time

Some drivers just don’t like to see their vehicle get old. The idea of always being in a new or almost new car has great appeal. By leasing, they can be in a brand-new car, enjoying not just that new car smell but all of the latest technology, every two or three years. These cars are also far less likely to need repairs, and if so those should be covered by the original factory warranty for all or most of the lease term.

Selling a car in a private sale is never fun. If you are leasing a Ford, you just return the vehicle to the dealership at maturity. Or, if you loved it and don’t want to part with it, you can buy out the lease for the vehicle’s determined value. After all, you know its full history, how it was maintained, and whether it was in any significant collisions.

Ford’s Red Carpet Lease

The Red Carpet Lease from Ford has the versatility to fit a wide array of budgets and driving situations. You may choose your own yearly mileage limit, from 10,500 up to 19,500. If you know you’ll drive more, you can purchase additional miles at lease inception. When you are leasing a Ford from Balise, you can also add on at inception any of the approved accessories available to customize the vehicle.

Ford’s Red Carpet Lease comes with benefits such as gap protection, which in the case of theft or serious damage will waive the gap between your insurance payoff and the amount you owe on the lease. With this coverage, you would only pay the insurance deductible and any outstanding balance, such as past-due payments.

The Advance Payment Program (APP) allows lessees to pay their total monthly payments up front and possibly save significantly. The vehicle’s condition would still be assessed at lease maturity, with the same potential charges for excess wear that would apply to any other lease.

If you have questions about leasing a Ford, call or visit Balise Ford of Wilbraham today to speak to a financing specialist.