Ford Leasing vs Financing


Ford Leasing vs Financing

Find out the best option for your situation and personal preference with help from the expert Ford financing staff at Harvard Ford. Our dedicated Finance Department is eager to help you explore all your auto loan and car lease options, empowering you to make a confident decision. Whether you're interested in investing in a long-term asset or looking to change things up every few years with no strings attached, we'll help you find the perfect solution for your lifestyle and budget needs today.

Explore all our latest new Ford models, pre-owned vehicle inventory, and certified pre-owned vehicles today to see what's waiting for you. Be sure to check out our current New Ford Offers on new Ford cars, trucks, and SUVs at Harvard Ford as well to see what lease deals are available today! .

Ford Leasing

If you're interested in trying out several styles and the latest technology, leasing is a great option. What is leasing? Leasing allows you to rent your car from your local dealership at a depreciation value over a two to a three-year term. Leasing also generally begins with a lower initial down payment and a lower monthly payment compared to financing a new Ford. If you enjoy trading in your vehicle every few years, a lease set up through our financing department is a fantastic choice. Compared to competitors, Ford lets you lease a vehicle while retaining your option to return or buy. Lease payments are usually lower than similar-term finance payments because you're only paying for the portion of the vehicle's value used during the lease term. Ford's Red Carpet Lease provides unique benefits and features:

  • Variety of popular terms, including our popular 24/36 month leases
  • Seven mileage options to choose from
  • Customize your vehicle at the time of purchase with approved accessories

Ford Leasing Advantages

  • Lease payment covers only the vehicle depreciated value not the entire purchase value. 
  • Lease payments cost less than if you were to finance.
  • Down payments on leased vehicles are less than financed.
  • Leases run for 24 to 48 months and are covered under the general warranty. 
  • If you don't drive far or a lot, leases may be a great option.
  • You have multiple end of lease options

Ford Leasing Disadvantages

  • You're only allowed limited mileage amounts, with the option to purchase extra.
  • You're charged for repairs if the vehicle isn't in good shape when you return it.
  • Leases don't build the same credit and payoff advantages of financing.
  • You cannot customize or alter your leased Ford.

Ford Lease-End Options

Lease end options include turning in your leased car and leasing a new one, purchasing your vehicle for the amount agreed upon in your lease agreement, or simply returning your vehicle to a dealership. Lease return steps include:

  1. Scheduling an inspection.
  2. Reviewing and making repairs.
  3. Making a return appointment.
  4. Complete a federal odometer/lease termination statement.
  5. Pay any lease liability fees/charges.
  6. Pay any additional charges.

Ford Financing

Financing is a great option for anyone looking for a long-term asset with flexibility and the ability to limit your expenses in the long term after payments are complete. To begin financing, your information is put through a credit check to find the best possible loan rate for you and see what you can afford. Although upfront financing may be more expensive due to your down payment and loan rates, in the long term you'll unlock impressive savings and financial flexibility.

Ford Financing Advantages

  • You own and can sell or refinance your Ford.
  • No mileage restrictions.
  • You can customize and alter your Ford.
  • No car payments once paid off.
  • Multiple lender options to get the best rates.

Financing Disadvantages

  • Higher monthly payments.
  • Higher down payment.
  • Higher repair costs.
  • Vehicle depreciation.

Leasing vs Financing FAQ

Choosing whether to lease or finance your next Ford is a personal decision that can swing one way or the other based on your credit score and the mileage you plan on putting on your new car. If you’re looking for a flexible long-term asset, financing may be right for you. If you’re interested in only a limited ownership window, leasing may be right for you.

  • Warranty coverage.
  • Latest technology and stylings.
  • Available loyalty incentive.
  • Can choose to purchase, switch, or walk away after the lease is up.
  • Mileage limitations.
  • No customizations.
  • Excessive wear and tear will also cost you.
  • Not an asset like financing.t
  1. Your buying an asset once paid off.
  2. No mileage limitation.
  3. Long-term savings.
  4. Ability to sell.
  1. Higher monthly payments.
  2. Higher down payment.
  3. Make an appointment at a dealer
  4. Higher repair costs./li>
  5. Vehicle depreciation.
  • 1. Lease a new Ford.
  • 2. Purchase a new Ford.<./li>
  • 3. Purchase your currently leased Ford./li>
  • 1. Scheduling your inspection.
  • 2. Review and make possible repairs.
  • 3. Make an appointment at a dealer.
  • 4. Complete a federal odometer/lease termination statement.
  • 5. Pay any lease liability fees/charges.
  • 6. Pay any additional charges.

Explore All Your Finance and Lease Options at Harvard Ford

After you’ve explored all your lease and financing options, contact our friendly and knowledgeable Finance Department at Harvard Ford if you have any questions or are ready to get started. You can start on your financing journey with ease by filling out our online Credit Application or by browsing all our latest New Ford Offers.

  1. Harvard Ford

    5250 South Route 14
    Harvard, IL 60033

    • Sales: (815) 943-4455
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