Ford’s legacy continues into the modern era, tracing its birth all the way back to the very beginning of automobile history. Ford was founded by Henry Ford on June 16, 1903 in Dearborn, Michigan. Since then they have produced some of the world’s most popular and memorable cars. Today they stand as the world’s 5th largest automobile maker and have produced some of the most memorable cars, trucks, and SUVs of the modern era. When people say “Ford,” people think “car.”
Ford’s Top Models
The Ford F-150 is perhaps the most memorable truck produced by Ford right now. The motto “Built Ford Tough” was definitely what the makers of this truck had in mind. Today millions of people scramble to buy or lease a Ford F-150 because of its rugged toughness, off-road prowess, and safety features. Not a truck person? Ford’s Fiesta continues its festive popularity this year. It has in the past been Britain’s top-selling car. And who could forget Ford’s classic Mustang which continues today in its modern form? All of these cars and trucks are a part of Ford’s legacy and a testament to the original enthusiasm with which automobiles were made.
In the past, people bought Ford cars or trucks. Today leasing has become a solid option in the debate. In the modern era of automobiles, it’s just as likely that someone will lease as they will buy and there are good reasons for this. Leasing has become a preferable option for those who have short-term financial obligations that keep them from investing the large amount of money it takes to purchase a car. Up front costs on buying a car can exceed what the average customer has to pay. When this happens, customers with good credit have the option to lease a car and drive away in something much better than they could have afford to buy.
No, you’ll never own a leased car, at least not because of the lease agreement. What you do, though, is give yourself the opportunity to drive a very nice, newer car for a bottom line that IS affordable. 60% lower monthly payments for leasing makes it a very attractive option even for those who could buy. Why? Because the 60% you save can go into a new home, vacations, household expenses, or debts paid off. In the meantime, you’re still driving the same Ford car or truck that you would have been driving if you bought it, all for less money in the short run.
Other benefits of leasing
1. Flexibility: Leasing a car is a short-term arrangement, usually for a period of 3 years. Imagine driving the Ford model of your dreams for a period of 3 years, all for less monthly than if you’d purchased a car, and then being able to be through with the lease and not have to worry about selling or trading the car in for almost nothing? That’s what leasing gives you. You can drive a newer car for longer. At the end of the lease term, you get another newer model and don’t have to deal with the steep decline of a purchased car in later years.
2. Low repair bills: Leased cars are almost always covered by warranty. This means that when your car needs to be repaired, you don’t have to spend your hard earned dollars on the repair bill. The manufacturer will take care of the expenses to fix almost anything that goes wrong on a leased car.
3. A better car: When you lease, you can get a much better car than if you buy. Unless money is not an issue, which is very rare for the average buyer, you’re going to drive off the lot in a much nicer car if you lease. The monthly payments are so much lower that you can actually afford to get an amazing Ford model that far surpasses the one you could have afforded to buy. For some people who prize nice cars, this is the tipping point on leasing instead of buying.
No matter what kind of Ford car or truck you’re looking for, there’s a great deal to be gained from leasing instead of buying. Good leasing agencies are going to put you in the best possible car they can for the least amount of money possible, giving you the luxury of driving a really nice car for the next three years without having to go without other things in your budget. Leasing a great Ford model today is one of the wisest decisions you can make if your goal is to get a car that truly is a bit tougher than the competition.
Ford leasing is a desirable option for many car seekers because of the perks of leasing. Not only do you get a much better, newer car than you would if you bought a used car, but you also get the benefit of having a car that’s always under manufacturer warranty. This translates into big savings because the entire time that you lease the car, you can take it into the shop to have it fixed for free, even if it’s regular maintenance.
If that isn’t a great enough of a deal for you, consider the fact that at the end of the leasing period, you’re not stuck with a car that has depreciated in value so much it would be difficult to sell. There’s no super long commitment like with buying a car and paying for it over a period of 10, 15, or even 20 years. You lease for a comfortable amount of time and then you can make new arrangements.
Renting and buying a car are fairly well-known processes. Renting is outrageously expensive if it’s for a short amount of time. Even when it is for longer, it’s generally too expensive to do on a regular basis. Leasing is a far better option. Before committing to the Ford lease deal, make sure you understand its terms.
Your Payments Reflect the Car’s Value.
There’s a quick cheat sheet for this. The car’s value will always affect the payments. The more expensive the car, the higher the payments. That isn’t the only thing that affects the payment, though.
Higher Residual Percent Saves You Money.
At the end of the Ford leases, there’s an amount you can purchase the car for. This is the residual value. The higher the residual percentage is, the less money you’ll pay for payments. It’s a hugely important number that you need to pay close attention to.
Understand Your Set Miles.
When you get a Ford lease, the terms will state that you have set miles. This means that there is a set number of miles you can drive your car per month. Anything over that mileage, and you’re going to be paying a fee for each mile over. Pay close attention to your set miles to be sure you don’t go over.
Expect a Disposition Fee.
After you return your car at the end of the lease period, the people who leased it to you have to perform maintenance, cleanup, and other things. They will ask you to pay a disposition fee at the end of the lease period to cover these things. Expect it to be $300 to $500 dollars.
Understand What Money Factor Means.
Your ARP is going to be your Money Factor, too. The lower the money factor, the more money you will save on your payments.
If you can afford to buy a car you love, buying might be a better option. However, if you don’t have money for a down payment and find that you are settling on buying a car you might not want 5 years from now, leasing may be a better option. While leasing, you can save up to buy a car you’re truly happy with. If you’re comfortable knowing you won’t ever own the car and want low up front costs, leasing is a great option. Other factors matter, too.
You Won’t Own the Car
If you lease the Ford car, you won’t own it. At the end of the leasing period, you might decide to buy but many people don’t want to do this. Just remember, at the end of your Ford leases, you won’t own the car.
Leasing Cuts Down Up-Front Costs
Up front costs are great for leasing. You owe the first month’s payments, deposits, and some taxes and fees. You’re looking at very low up front costs, one of the best reasons to lease.
No Need to Worry About Selling Ford Leases
You don’t have to sell your lease at the end of the leasing period. It all goes back to the dealership or person who leased you the car. This makes for a worry-free end.
The end payment on a lease is there to signify that you’ve fulfilled obligations. You can now buy the agreed upon cost at the end of the lease and buy the car or you can end the lease and walk away with no obligations. This is one of the best parts of a lease. When it’s done, it’s done. You don’t have to sell the title or the lease. You simply complete your payments and then make a good decision about car ownership after the lease.