Benefits of Leasing
Benefits of Leasing
If you've not looked into leasing a new car it's probably time you gave it serious consideration. While pre-owned models can represent great value for money, they're never going to be the same as a brand new model and getting a new model doesn't have to cost as much as you might expect. To see why leasing is better than other forms of new vehicle finance the benefits of leasing need to be fully understood. Once you realize how affordable Ford leases can be getting a brand new model from Avis Ford, you could be forgiven for wondering why anyone would buy any other way.
Benefits
There are a number of different benefits leasing offers over traditional ways of funding a new vehicle, but the fact leases are often more affordable than an auto loan is probably the biggest. Although the cost of leasing a new Ford will vary depending on the model, the length of the agreement, the upfront deposit paid and the amount of miles you are going to cover during the term, it can often work out less expensive than any other way of funding a new vehicle. You also know exactly how much your vehicle is going to cost to run while you have it which makes budgeting easy, especially if you also take out a maintenance plan to run alongside your lease.
Differences
The big difference between a lease and an auto loan is there's no requirement for you to own the vehicle at the end of the term with a lease. At the end of 36-month auto loan on a new vehicle for example, you are then the proud owner of a three-year old vehicle. At the end of a 36-month lease by comparison, you can simply hand the vehicle back to the finance company and walk away. That leaves you free to start again and get a brand new vehicle all over again. Really, it's a bit like a mobile phone contract where you're free to upgrade at the end of the agreement. However, if you really do want to own your vehicle when you've made all the agreed payments, you'll probably have the option to pay the residual value and take ownership if you would like to.
Costs
You may have heard anecdotes of consumers being presented with large bills at the end of lease agreements, and it has to be said that it can happen. However, it can only happen if you don't look after the vehicle while it's in your care or if you go over the agreed mileage. All lease companies have a fair wear and tear policy and they can differ from company to company. It basically means they expect the car to be in the kind of condition you'd expect for one of that age when you hand it back. The agreement will state how large any bumps, scrapes, scratches or dings can be before they have to be repaired, and what condition is acceptable for the interior. You get all this information before you put pen to paper, so you know what is expected. It's the same for the miles you are contracted to. If you take out the agreement for 36,000 miles and you hand it back with 37,500 on the odometer, there will be a per-mile charge for each of the additional 500 miles you've done.
If you look at what you will pay in total for a lease on a new vehicle, it can sometimes work out less than you would lose in depreciation over the same period if you'd paid cash. With that in mind, you might want to give us a call here at Avis Ford to find out more and to get a quote on leasing a brand new Ford for less than you might imagine.