What You Need to Know Before Signing a Ford Lease

A Ford lease is a great way to drive the vehicle of your dreams. Before you sign any paperwork, you’ll need to make sure you thoroughly understand exactly what a lease is and have a firm grasp on the terms you’re agreeing to. Here’s what to know from the friendly professionals at Ford of Cookeville.

How a Ford Lease Differs from a Loan

Leasing a vehicle is quite different from purchasing with a loan. With a Ford lease, you’ll have fewer upfront costs than you would with a loan, and the monthly payments are usually lower. At the end of the lease, you can return the vehicle to our dealership and get a fresh lease for a brand-new model — that is, unless you decide to purchase the vehicle at that time. Although you won’t own the vehicle during the lease, you’ll have the opportunity to drive the latest and greatest new Ford models every few years.

Understanding Your Lease Terms

Once you’ve picked out your favorite vehicle, our finance professionals will create your Ford lease. We’ll walk you through the paperwork, but it’s helpful if you know what to expect. Here are a few lease terms you should know:

• Lease life, usually two to three years
• Upfront costs you’re responsible for
• The vehicle’s anticipated depreciation
• Your monthly costs

You’ll also want to understand any mileage restrictions and excessive wear and tear fees. To help you budget, estimate your routine maintenance and fuel expenses into your overall budget. Finally, ask your insurance company what their coverage will cost for your leased vehicle.

Lease a New Ford Vehicle in Cookeville, TN

We’re ready to create a great Ford lease for you. Now it’s time to pick out your perfect vehicle. Visit our Cookeville, TN Ford dealership to peruse our inventory of Ford trucks and SUVs today!