Lease Your Next Vehicle at Northtown!
There's no denying that automobile leasing
has reached new levels of popularity. With leasing, you only
pay for the portion of the vehicle's worth that you are going
to actually use, plus lease charges to the leasing company.
With leasing, you can drive a new vehicle with little
or no down payment. Plus payments on a
24-month Ford Credit Red Carpet Lease are generally competitive
with a conventional 48-month finance arrangement. Ford Credit,
along with Ford and Northtown Ford, are leading the way with
the 24-month Red Carpet Lease. Finance experts often advise
that one should "Buy things that appreciate, rent [lease]
things that depreciate." Since most vehicles depreciate
over time, it makes perfect economical sense to only pay for
the specified time you are using your new Ford, Lincoln-Mercury.
If you are still undecided about the benefits of leasing, we
urge you visit Northtown Ford Mercury for lease information
on the vehicle of your choice.
 Another big difference of the Red Carpet Lease program is
the way it has been designed to deliver the very best in customer
satisfaction. The excellent image we enjoy today is the result
of continuing efforts to make Red Carpet Lease more consumer-friendly.
In fact, helping you understand what
you're paying for is very important to us. You may have heard
of the term "gross
capitalized cost." Basically, this is the total cost of
your lease. A Red Carpet Lease provides you with this important
information and more. You are provided with a detailed, step-by-step
review of the vehicle's final cost, any down payment, cash
or rebate amounts and the lease charges involved so you know
how we arrived at your monthly lease payment.
Ford Credit is proud to be a member of the Association of
Consumer Vehicle Lessors which has adopted a standard for capitalized
cost disclosure.
How Leasing Works
Once you understand the basics of leasing, you'll see that
it's just as simple as traditional financing. There are some
basic differences between leasing and financing. These are
what make leasing so appealing. When you purchase a new car
or truck with traditional financing, you agree to pay off the
vehicle over the life of the finance contract - plus any interest
or finance charges on your loan. Traditional contracts are
typically four or five years. When you lease, you simply pay
for the portion of the vehicle's worth that you anticipate
using - over the term of the lease - plus any lease charges.
How long is a lease term? Lease terms vary from 12-72 months,
however most are in the 24-48 month range. There are many advantages
to a shorter term lease and if you choose a Red Carpet Lease
from Ford Credit, you'll most likely select a 24-month lease.
One of the big advantages of a Red Carpet Lease compared to
financing is that at the end of the 24-month lease term, you
have three choices after you fulfill all of the lease obligations:
- Return the vehicle and lease a new one (1)
- Purchase the vehicle at a predetermined price and keep
it, or
- Return the vehicle and walk away (2)
In comparison, after 24 months with four-year
conventional financing, your options are quite different. Your
financing contract will still be in effect, and you will owe
an additional two years of payments. More than likely, you will
usually be in a position where you still owe more than your now
two-year-old car or truck is worth, a term that is referred to
in the auto industry as being "upside down."
Great Value and Flexibility
 When you think about it, there are some other disadvantages
to driving a vehicle for four or more years. First, the manufacturer's
warranty will probably expire during your finance term.
Plus, you'll most likely have to spend money on maintenance
items such as tires, brakes and other maintenance concerns.
Finally, your needs for a specific size or type of vehicle
may change over four or more years.
It is true that during the lease you don't own your car or
truck, but with a finance contract you pay off the finance
obligation in 48 months. In that same time you could have had
two new vehicles with a Ford Credit 24-month Red Carpet Lease.
(1) Subject to lease approval by Ford
Credit.
(2) Subject to any excess wear and use/excess mileage.
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