How to Lease a Ford near Brighton, MI
Ever wonder how automotive leasing works? If so, you’re not alone. Plenty of Michigan Ford fans come into our nearby dealership to debate the merits of leasing vs. buying a new F-150 or Explorer. No matter which option they ultimately decide on, customers all agree on one thing: they couldn’t have come to their decision without the help of our Ford finance experts. Our staff of auto lease specialists have helped countless shoppers understand the terms, principles and benefits of leasing vs. buying a car, so you can trust our team to help you make the right decision for your budget and needs. Ready to get started? Just read through the leasing FAQ below, then reach out to our Ford dealer near Brighton to speak with one of our associates.
Ford Leasing FAQs
How Does Leasing a Car Work?
Leasing a car is essentially like a long-term rental — you pay to use the car for a set period of time and agree to abide by certain mileage and customization limitations. Here’s how it works: Once you decide to start a new Ford lease, you’ll meet with one of our specialists to determine certain terms. These options may include the total lease duration — that is, how many years you decide to lease the vehicle — and the annual mileage allotment. Typically, a new car lease offers drivers the choice of anywhere from 10,000 to 15,000 miles per year.
Is Leasing a Car Considered Owning?
No. Though many leases offer a lease-to-own option that allows you to buy your vehicle at the end of the lease term, you do not technically own the vehicle under this option. Because leasing eliminates the financial ownership piece, your payments are instead designed to cover any rental and depreciation costs incurred during the lease period. This is why monthly lease payments are typically lower than monthly car payments for a comparable vehicle.
How Much Does Leasing a Car Typically Cost?
The beauty of a car lease is that there’s very little in the way of costs outside of your monthly payment. Aside from a few one-time expenses like taxes and a security deposit, a lease has hardly any additional costs. This makes it easy and affordable to lease a new Ford near Brighton.
Is It Better to Lease or Finance a Car?
That depends on factors like your personal budget, lifestyle, and preferences. Do you like upgrading vehicles every few years and appreciate a lower monthly payment? If so, a Ford lease is likely your best option. Alternatively, if you prefer to keep your vehicle a long time or put significant mileage on your car, it may make sense to finance a new Ford instead.