Here at our Ford dealership in Royal Oak, we understand that leasing a vehicle can be a convenient and affordable option for many drivers. To help you make an informed decision whether to lease vs. buy a car, we've put together this Ford leasing FAQ to answer some common questions about this popular option. Take a look below, then visit our showroom for personalized sales support today.
Cost Savings & Advantages Of Leasing VS Purchasing
- The monthly payment is significantly lower on a lease compared to a purchase.
- In most cases, you can opt for a no money out of pocket signing.
- Tax is only charged on the monthly payment instead of the selling price of the vehicle.
- The vehicle is covered under Ford's warranty for the life of most 24-month and 36-month leases.
- When the vehicle is returned at the end of the lease, there is no worry that you may owe more than the vehicle is worth on trade.
- You can drive a brand-new vehicle ever 2 or 3 years and always have the latest styling, features, and technology available.
- Typically, there are additional rebates and incentives for returning lease customers.
- You can also opt to purchase the vehicle at the end of the lease.
What does leasing a car entail?
Leasing is an alternative to purchasing a vehicle. It involves paying a fixed monthly fee to use the vehicle for a predetermined period of time, typically two to three years. The lease agreement specifies the terms and conditions, which include mileage limits, maintenance responsibilities and other relevant details. At the end of the lease term, the lessee returns the vehicle to the dealership.
How do I lease a car at Royal Oak Ford?
To lease a car at our nearby Ford dealership, follow these steps:
- Choose your desired Ford model: Browse our inventory online or visit our showroom to discover which new Ford vehicle for sale appeals to your tastes and budget.
- Review lease offers: Our sales team will provide you with current lease offers and incentives available for your chosen vehicle. You'll then determine the lease term, mileage allowance and other options that suit your needs and budget.
- Complete a credit application: Fill out a Ford credit application to see which specials you may be eligible for. Our finance experts will then review your application and work with you to secure the best lease terms possible.
- Sign the lease agreement and drive home: Once you are satisfied with the proposed terms, sign the lease agreement. You can now drive your new Ford off the lot and enjoy it for the duration of your lease term!
What happens at the end of a car lease?
At the end of your Ford lease term, you have several options:
- Return the vehicle: Bring the vehicle back to our Ford dealership in Royal Oak, where we will perform a vehicle inspection and finalize any last paperwork. After that, you're good to walk away.
- Purchase the vehicle: If you love your leased Ford vehicle, you can purchase it outright. Our finance team can work with you to arrange financing for the purchase.
- Lease a new Ford: If you want to drive a brand-new Ford vehicle, you can return your current leased vehicle and start a new lease on a different model. See what our current Ford lease specials are today!
- Extend your current lease: In some cases, you may be able to extend your current lease if you need more time before deciding on your next vehicle. Speak to one of our associates for details.
Can I end my lease early?
Early lease termination is possible. If you are considering ending your lease early, please reach out to our Ford finance team, who can discuss your options in greater detail.
Ford Lease Specials in Royal Oak, MI
Our team is committed to helping you find the perfect Ford lease terms to meet your needs. If you have any further questions or would like to get started on leasing a Ford in Royal Oak, please don't hesitate to visit our showroom. Contact Royal Oak Ford today to get started!