Before you keep searching for Ford lease deals near Wilton, it’s best to understand what a lease entails to make sure it’s the right move for you. Leasing a Ford car, truck, or SUV has its perks, no doubt, but there are a few things you should be aware of when you go to sign on the dotted line. With all of that out of the way, let’s dive into the pros and cons of leasing so you can prepare to guarantee you get the best Ford lease offers near Muscatine, IA.
The Benefits of Leasing a Ford
We’ll roll two benefits into one (since they’re related) to kick things off. When you lease a car, you’ll likely notice that the monthly payment is lower than if you financed the same vehicle. With that in mind, you can often lease a higher trim (a version of the vehicle with more/better features, such as a larger infotainment system, stronger engine, sunroof, etc.) without breaking your budget. In short: your monthly payments are more valuable when you lease a car.
On the other end of the spectrum, you could choose a basic trim of the vehicle to keep your monthly payments lower. Couple that with many leases don’t require a down payment (as they do when financing a vehicle), or if they do require a down payment, it’s much smaller than the financing route; you can save big time on a new vehicle.
Speaking of new vehicles, one of the biggest perks of leasing a Ford vehicle is that every few years, you’ll always have a new car to drive. Most leasing contracts last around three years (36 months is what you’ll likely see or hear), so every three years, you have the option to lease a new vehicle. If you continue to lease, you’ll always have the latest upgrades to specs, features, and comforts, rather than driving the same vehicle for years as you pay off the auto financing loan.
Another benefit to this is you never need to worry about selling or trading in your vehicle. Since you’re only effectively renting the vehicle, depreciation has no effect on you like it would if you purchased and financed a vehicle. Once your contract is up, you simply drop it off at our Muscatine Ford dealership and choose your next car.
Lastly, you’ll have peace of mind throughout your lease, thanks to the manufacturer’s warranty that comes with new vehicles. Since no one has driven the vehicle before you, everything is fresh and working as intended, meaning major wear and tear is many years off, long beyond when you will have to return it at the end of your contract. However, if anything should happen, you’re covered under the warranty. If you find you’ve fallen in love with the car, you have the option to purchase the vehicle after your contract is up to pay off the remaining value.
The Drawbacks of Leasing a Ford
Since you’re only ever renting a vehicle, you don’t have any ownership over it; therefore, you won’t build equity. For some, this isn’t a major drawback. It is, however, something everyone should be aware of.
Additionally, since you don’t own the vehicle, you can’t customize it how you’d like once you drive off the lot. What you have for options in terms of trims when choosing your next lease at the dealership are the features you’ll have to live with for the length of your contract. A new color? Unfortunately, that’s off the table.
You’ll also need to pay attention to how much you drive the vehicle. Leases come with mileage limits in the contract. If you exceed your mileage limit, you’ll face some hefty fees at the close of your contract. Therefore, we wouldn’t recommend long road trips if you plan to lease.
While the warranty protects your vehicle, you’ll still need to perform routine maintenance. Leases have clauses that state that you need to return the vehicle in good condition, so you’ll need to stay on top of bringing it to a service center regularly for oil changes, tire rotations, and the like. Fortunately, in some cases, routine maintenance may be covered in your lease. Be sure to ask the sales rep when you head to the Ford dealership in Muscatine.
Be aware that when you sign your contract, there are fees if you need to break the lease early. This is a standard clause, but one to note before signing. If you think you may need to break your lease early, you should consider financing your vehicle so you can sell it or trade it in later.
Lastly, while leases offer lower monthly payments to help you save, over time, you may end up paying more for multiple leases in monthly payments than you would if you chose to finance a new vehicle and continue to own and operate it. If you have any questions about how much it may cost to lease or finance a Ford vehicle, speak with the experts at our finance center for more information. They’ll be happy to help you crunch the numbers to find the right move for your wallet.
Where to Find the Best Ford Lease Offers Near Wilton
Searching for the best Ford lease deals near Wilton will lead you to the same place: Ed Morse Ford in Muscatine. Our team is dedicated to helping you find the right vehicle for your needs and budget with ease, every step of the way. Contact us today to get started or to schedule a test drive of our next Ford car, truck, or SUV.
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