The Advantages of Leasing a Vehicle from a Ford Dealership in NY
When you’re in the market for a new vehicle, you have the option of either buying one outright or leasing a vehicle instead. While there are many advantages to buying a car, the benefits associated with a lease make leasing a very attractive option. Here are some of the advantages of leasing a new vehicle:
Get More for Your Money
When you lease a car, you are often able to get more car for the money you pay. Instead of basing the loan for a new car on the total price, the loan on a leased car is based on a percentage of the price. So, rather than taking out a loan for $30,000 on a new car at a Ford dealership in NY, you will only need to get a loan on the vehicle’s residual value, which is the difference between the retail price and the expected value at the end of the lease. So, if the expected value is 60 percent of the original price, you will only need to make lease payments on the residual value, which would be $18,000.
Your Car Will Stay under Warranty
The average car lease is about three years, which is the same length of most new car warranties. So, the entire time you are leasing the car, it will be covered by a warranty—meaning if something goes wrong with your vehicle, your repairs will be covered by Ford. You still need to provide routine maintenance for your car, such as oil changes, buying new tires, and getting other recommended service done, but any major issues will be repaired by the Ford dealership.
Always Drive a New Vehicle
At the end of your lease, you can either buy the car or you can turn it in and lease another new model. This allows you to enjoy having a new car every three years or so. You will get a vehicle with the latest safety features, enjoy the latest car technology, and never have to worry about paying for any major system repairs since the new car will still be covered under warranty.
Low Down Payment
With most leases from a Ford dealership, you don’t have to put a lot of money down to drive away in a new car. Many leases offer low down payments, though you may have to make higher monthly payments depending on what you put down on the car. If you can afford a higher down payment, your monthly lease payments will usually be much lower than what you would pay for purchasing a new car.
If you want to enjoy having a new vehicle every three years and not having to worry about making major repairs, then leasing may be the perfect option for you.
