Should I Lease My Next Vehicle?

July 22nd, 2020 by

We get this question all the time: “Should I lease my next vehicle?” The answer is easy. Maybe. Leasing a vehicle is not for everybody but it is a good way of owning a vehicle for a lot of people in the St. Johns area. It is not a good thing to be trapped in a lease that does not fit your needs. Lets take a look at a few questions that can help you decide if your new Ford should be a lease from Pauli Ford.
The first question is “Do I drive predictable miles every year?” When you lease a new Ford there are two things that you need to know. One is how long do I want to lease it for? Most leases are for 24 or 36 months, and sometimes 27 and 39 months. The other thing you need to know is how many miles you plan on driving over the term of the lease. Leases start at 10,500 miles a year and move up in 1,500 mile steps. So you might do a 24 month lease with 15,000 miles a year. That means in 24 months when you are done with your lease you need to be at or below 30,000 miles (15,000/year X 2 years). If you drive predictable miles this is an easy equation.
If you drive unpredictable miles leasing may not be for you. At the end of your lease if you are over the allotted mileage there is a fee you will have to pay to cover the overage. It can cost you between $.15 and $.75 a mile. Lets say you have 30,000 miles to use on your lease and you only use 18,000 miles. Ford will not refund you for the miles you don’t use. This is why driving predictable miles is important.
The second question you need to ask is “Do I take care of the vehicle I own?” If at the end of your lease on a Ford Escape you decide to turn it back over to Ford, they will send out an inspector to inspect it. They will look for things like scratches, dents, chips in the windshield and other damage not considered normal wear. If you have excess damage you may be charged to the repair of the damage.
The third question is “Do I like to have a new Ford every two to three years?” For most of us that is an easy answer. Yes. I love to have the newest version of Sync, the newest navigation system and coolest new color Ford Explorer. With a Ford lease you get a new Ford every two to three years and in most cases you are under the Ford Factory Warranty the whole time.
So to answer your question “Should I lease a new Ford?”, if you drive predictable miles, and you take care of you vehicles and you want to have the coolest new Ford on the market every two to three years than a new Ford lease may be the best option for you to get a new Ford. If you have other questions about what it means to lease a new Ford F150, lease a Ford Escape or soon lease a Ford Bronco give our leasing experts at Pauli Ford a call today.

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