Lease Options at Joe Cooper Ford of Yukon
Thinking about leasing a new Ford? Whether it's your first time leasing or you're familiar with the experience, we're here to help make it go by as smoothly as possible. On this page, we'll explain the benefits of leasing as well as your available options at the end of your lease. While leasing isn't the best choice for everyone, many drivers appreciate the flexibility and variety that it brings. Want to know if it's right for you? Or maybe you're nearing the end of your current lease and aren't sure how to proceed. Keep reading to find the answers to your leasing questions!
What is a Lease?
When you lease a new vehicle, you get to drive a new car without owning it. This means you'll make monthly payments for about two to three years, depending on your initial lease agreement. New vehicles depreciate quickly once they leave the lot, and leases take this into account. When you start your lease, you'll be given a mileage limit, typically around 12,000-15,000 miles a year. You'll also have the option to pay more for additional miles, should you need them.1
Benefits of Leasing
While lease payments work similarly to auto loan payments, monthly lease payments are usually more affordable than loan payments. Not only that, but the down payment for your lease is also typically much lower than it would be if you were purchasing your vehicle. And since you're leasing a new model for only a few years, you won't need to worry about massive service or repair expenses since your vehicle will likely still be under warranty. That means you'll just have routine maintenance like oil changes and tire rotations to deal with.
Your Lease-End Options
Leasing is both convenient and flexible. At the end of your lease, you won't have to worry about selling your vehicle or trading it in. And you can immediately start driving a new Ford once it's over! That way, you can enjoy the latest features like new safety systems and innovative technology.
Trade It in for a New Lease
If you've enjoyed driving your vehicle, but are curious about what the newest Ford models offer, trading it in and starting over with a new lease might be the best choice for you. And since you've already been through the leasing process, you'll be well-equipped to start it over again.
However, if you've enjoyed your Ford so much that you aren't ready to part with it, you can purchase it outright and make it your very own! This way, you can keep driving it indefinitely.
On the other hand, if you aren't sure to proceed but are at the end of your lease, you can just return the lease and pay any remaining fees, such as for excess mileage or wear and tear.