Ford leasing offers some real advantages at this time. First, lenders have a low cost of funds at this point, so those savings are passed along to the lessee to a fair degree. Second, residual values on many current Ford models are quite good. The residual value is the value that the vehicle is expected to have at the end of the lease, This figure is critical for the lender, because when you turn in the vehicle at the end of the lease, they have to know what they will be able to dispose of it for. If lenders are overly optimistic about residuals, you win and they lose. That is, you get a great lease payment and they get stuck with a vehicle with lousy re-sale value when you turn it in. Savvy shoppers sometimes look to lease vehicles with generous residuals that drive down monthly payments.
New car leases on many Fords benefit from good residuals at this time. New cars, and even SUVs, often have residuals of 60-65 percent at three years. New vehicles are built to ever-stricter standards using longer-lasting materials. In general, this results is better and better residuals that make leasing more desirable than ever.
When considering a new car lease, determine realistically how many kilometers per year you expect to drive. In general, leasing can be a good idea for those that drive modest distances each year. Or, leases can be arranged with more kilometers per year included. Either way, it is vital that one does a good job of estimating how much driving will occur during the term of the lease. Under-estimate the distance to be driven, and excess driving charges can be quite expensive. Over-estimate the distance to be driven, and you’re essentially paying for usage that you will never take advantage of.
The debate over whether to buy an older vehicle or to lease a new one is certainly influenced by the dramatic improvement in fuel efficiency in newer vehicles.
For example, Ford’s 1.6-litre turbo Eco-boost engine in the new C-Max Hybrid has estimated fuel consumption rated at 42.8 mpg combined and over 53 mpg extra urban. The Escape Hybrid that it replaces had ratings about 15 mpg lower.
With innovative new features on current Ford models, getting into a new vehicle through leasing may be ideal. For example, a new Ford Focus now has an ‘auto start-stop’ feature. At complete stops, the engine is shut down to conserve fuel. Also, the 2013 Ford Focus features ‘active park assist,’ which allows for the convenience of hands-free parking. One might purchase an older Focus without such innovations and still pay the same amount per month that one pays leasing a brand-new Focus.
Overall, an ideal convergence of factors makes Ford leasing as advantageous as ever.