Leasing is a very simple concept. You only pay for the portion of the vehicle's worth that you are actually going to use, plus lease charges to the leasing company.
What attracts people to leasing? Affordability. With leasing, you can drive a new vehicle with little down payment. Plus, payments on a 24-month Ford Credit Red Carpet Lease are generally competitive with a 48-month finance arrangement.
Leasing will enable you to drive a new car or truck more often and without worrying about unpredictable resale values.
Which option is better for you?
Whether you purchase a vehicle or lease it, there's always a price to pay for high mileage. With Ford Credit's Red Carpet Lease, you'll have the advantage of knowing what high mileage will cost in terms of added depreciation - an unknown factor until you're ready to sell or trade in your vehicle. You'll be at the mercy of mileage deduction figures listed in one of several "used car value books". As a result, the real cost of high mileage when you purchase a vehicle can be highly speculative.
With a 24 or 36-month Red Carpet Lease, both the lease end value and the purchase option price of your vehicle are clearly stated on your Red Carpet Lease Agreement. This means that you can choose the lease end option that works for you.
For more information on whether you want to lease or buy your next vehicle, contact us at Shults Ford of Wexford and we will be happy to help!
*This information was released by Ford Motor Company & RCL