How to Lease a Car near Enterprise, AL
Here at Gilland Ford, we understand that choosing how to acquire your next vehicle is a significant decision. Leasing has become an increasingly popular option for drivers who want to enjoy the latest features, technology, and safety innovations without the long-term commitment of purchasing. Let us walk you through everything you need to know about leasing a car.
What Is Car Leasing?
Leasing a vehicle is essentially a long-term rental agreement. Instead of buying the car outright, you're paying for the right to use it for a specified period, typically two to four years. At our dealership, we offer flexible lease terms that can be tailored to fit your lifestyle and driving habits in Enterprise.
How Does Leasing Work?
When you lease a Ford from us, you're paying for the vehicle's depreciation during your lease term, plus interest and fees. Your monthly payment is calculated based on the difference between the car's current value and its estimated value at the end of the lease. This is why lease payments are often lower than loan payments for the same vehicle.
The Leasing Process
Starting your lease is straightforward. First, you'll select your Ford model, whether it's the sporty Ford Mustang, the family-friendly Ford Expedition, or the performance-focused and heavy-duty Ford F-150. Next, we'll discuss your desired lease term and annual mileage allowance. Most leases range from 10,000 to 15,000 miles per year, though we can customize this based on your needs. You'll then negotiate the capitalized cost (the vehicle's price) and determine your down payment, which can lower your monthly payments. Our Finance Department team will review your credit history to determine your interest rate, also called the money factor. Finally, you'll review and sign the lease agreement, which outlines all terms, conditions, and your responsibilities.
Benefits of Leasing
Leasing offers several advantages. You'll enjoy lower monthly payments compared to financing a purchase, allowing you to drive a more luxurious model or one with advanced features. Every few years, you can upgrade to the newest Ford model with the latest safety technology and fuel efficiency. Additionally, most leases fall within the manufacturer's warranty period, meaning major repairs are typically covered. For business owners, lease payments may be tax-deductible as a business expense, providing potential financial benefits.
End of Lease Options
When your lease concludes, you have three choices: return the vehicle and walk away, lease a new Ford, or purchase your leased vehicle at its predetermined residual value and continue to enjoy it for all your future trips to Dixie Boys Baseball Park and other locations. Our team at the dealership is here to guide you through every step of the leasing process. We believe in transparency and want to ensure you make the informed decision that best suits your needs. Visit us today to explore our current lease specials and experience the joy of driving a new Ford.
