North Central Ford
1819 North Central Expressway Richardson, TX 75080Sales: 800-574-9708
- Service: 800-574-3901
- Parts: 800-574-5489
INTRODUCTION TO LEASING
This section is an overview of Ford Credit's Red Carpet Lease and it's benefits and should not be relied on as a complete program description.
WHAT IS LEASING?
A lease is a contract for use of a vehicle for a specific period of time, for an agreed upon periodic payment.
Leasing allows the customer to drive his/her vehicle of choice without the toils of full ownership. They have the best of both worlds whereas at the end
of the term of their lease they own three options:
1) Like a traditional purchase, they can trade the vehicle in to the dealer or sell it to a friend.
2) They can only pay for the time that they use the vehicle and give it back to the dealer and get a new vehicle.
3) At the lease term, they can keep the vehicle and continue making payments.
LEASING vs RETAIL FINANCING
Customers choose leasing over retail financing for several reasons:
* Low initial cost - Leasing often requires low or no down payment. At lease inception, the lessee is required to pay the first monthly payment and a security deposit, if required, equal to about one monthly payment.
* Low monthly payments - Instead of paying the full life value of the vehicle, the lease customer pays only the value of the vehicle used over the lease term.
* No trade-in hassles - The lease end residual value is established at the beginning of the lease and is often referred to as a "guaranteed trade value". Ford Credit assumes the risk that the vehicle will be worth
at lease end. The lessee (you) will never be "upside down" at the end of the lease due to a weak used car market.
* Shortened trading cycle - The customer may choose to get a new car more often with leasing (when compared to 60-72 month financing). In addition, to achieve the same payment on retail financing
as compared to a shorter term lease requires a much longer retail financing term.
* More car - Leasing is popular because customers may be able to drive more car for their monthly lease payment. Instead of settling for the car they can afford with a long-term retail financing payment,
customers may choose to upgrade for about the same payment and get the car they want from leasing.
This section is an overview of Ford Credit's Red Carpet Lease and it's benefits and should not be relied on as a complete program description.
WHAT IS LEASING?
A lease is a contract for use of a vehicle for a specific period of time, for an agreed upon periodic payment.
Leasing allows the customer to drive his/her vehicle of choice without the toils of full ownership. They have the best of both worlds whereas at the end
of the term of their lease they own three options:
1) Like a traditional purchase, they can trade the vehicle in to the dealer or sell it to a friend.
2) They can only pay for the time that they use the vehicle and give it back to the dealer and get a new vehicle.
3) At the lease term, they can keep the vehicle and continue making payments.
LEASING vs RETAIL FINANCING
Customers choose leasing over retail financing for several reasons:
* Low initial cost - Leasing often requires low or no down payment. At lease inception, the lessee is required to pay the first monthly payment and a security deposit, if required, equal to about one monthly payment.
* Low monthly payments - Instead of paying the full life value of the vehicle, the lease customer pays only the value of the vehicle used over the lease term.
* No trade-in hassles - The lease end residual value is established at the beginning of the lease and is often referred to as a "guaranteed trade value". Ford Credit assumes the risk that the vehicle will be worth
at lease end. The lessee (you) will never be "upside down" at the end of the lease due to a weak used car market.
* Shortened trading cycle - The customer may choose to get a new car more often with leasing (when compared to 60-72 month financing). In addition, to achieve the same payment on retail financing
as compared to a shorter term lease requires a much longer retail financing term.
* More car - Leasing is popular because customers may be able to drive more car for their monthly lease payment. Instead of settling for the car they can afford with a long-term retail financing payment,
customers may choose to upgrade for about the same payment and get the car they want from leasing.
Website by Dealer.com
North Central Ford
1819 North Central Expressway
Richardson,
TX
75080