2020, 2021 Ford Lease Deals, Specials & Offers
2021 Ford Leasing FAQ
What is the Ford Credit Company? Is it a different company than Ford Motor Corp?
The Ford Credit Company is a part of the Ford Motor Company. It is the branch that handles financial services. Specifically, they help customers when it comes to financing Ford and Lincoln vehicles. They also help dealerships in matters of leasing and inventory. The Ford Credit Company also deals with commercial credit lines and credit for independent dealers that sell Ford products.
What is Ford’s Red Carpet Lease?
Ford’s Red Carpet Lease is a program set up for customers who have a good idea of how many miles they will put on their vehicles. This is perfect for commercial businesses that lease fleet vehicles. They can return vehicles once the lease is up according to their agreement. This allows owners or companies to always have newer vehicles. The lessee would be responsible for any extra mileage or unusual wear to the vehicles, above the agreed-upon terms.
How does Ford’s Newcomer Program work with a lease?
Ford’s Newcomer Program is tailored to assist new buyers who have never owned a Ford vehicle before. The program provides financing and leasing options for first-time vehicle buyers. Leasing under this program often leads to lower monthly payments than financing. The Lessee will only be paying for a portion of the vehicle's value depending on the length and terms of the lease. They will then have the option of returning or buying the vehicle.
How does the First Time Buyer Program work with a lease?
Ford's First Time Buyer Program is similar to the Newcomer Program. This is a service designed for new car buyers with little credit and no buying history. Applicants must have an income of at least $2,000.00 a month and must not have any prior car purchases on credit. Leasing is one of the choices and usually allows for lower monthly payments to fit in with the lessee's budget.
What about leasing with the Ford Graduate Program?
The Ford Graduate Program was designed for college graduates who need a new vehicle. Eligible graduates can get up to $500.00 in cash bonuses. This applies to new purchases or leasing of a Ford vehicle. The program goes through the Ford Credit Company. Eligible graduates must first apply through them and prove that they meet the requirements to take advantage of the offer.
What is the lease end process with Ford?
At the end of a lease with Ford, there are three options. The vehicle can simply be turned in. A new car can be bought or leased. Last of all, the leased vehicle can be purchased. New financing options will be presented to the lessee should they decide to purchase the vehicle. The purchase price is usually stated in the lease contract that was signed in the first place.
What is Ford’s WearCare Protection?
Ford's WearCare Protection is kind of like insurance in the event that a leased vehicle takes more wear or damage than expected. It's something agreed upon at the beginning of a lease. Any extra charges for excessive wear are waived. This is usually for up to $5,000.00 worth of wear or damages. This allows the driver to have a worry-free experience as they enjoy their Ford vehicle.
How does Ford LeaseCare work?
LeaseCare is a program that protects a lease holder from unexpected vehicle breakdowns and repair costs. A number of parts are insured if they happen to fail under normal use. Some of these include items such as spark plugs, brake pads, engine belts, hoses and wiper blades. This program often includes roadside assistance to aid the lessee if their Ford breaks down.
Are there extra fees when leasing a Ford and/or fees at the end of the lease?
Extra fees are normally charged to the lease holder if they exceed the number of miles specified on their lease. These are assessed during the lease-end process. Excessive wear on parts or damage to the vehicle may mean extra fees as well. Some of this can be negated by purchasing additional protection plans at the time when the lease is first agreed upon.
What are the insurance requirements when leasing a Ford?
Insurance requirements always start with whatever your state requires for bodily injury and physical damage. Ford requires proof of insurance that meets state requirements before a lease is finalized. Individual dealerships or the Ford Credit Company may also require comprehensive insurance and extra collision protection as well. Specific dealers may have agreements in place with specific insurance companies in order to offer good deals to their customers.
What Is FordPass Rewards?
FordPass Rewards is a loyalty program that allows Ford lessees and buyers to earn points through an app. Points can then be redeemed for complimentary maintenance, roadside assistance and connectivity options. These options can be used to control aspects of your vehicle remotely via your smartphone. The app makes it easy to claim your free or complimentary services and roadside assistance right when you need them.
How much does it cost if I go over my mileage limit?The charges accrued by going over your mileage limit will depend on a number of factors. Most will be spelled out in fine detail on the lease. Charges will depend on the agreed-upon limit, how much over the limit the vehicle is and on any potential insurance programs that are designed to negate some of these extra end-of-lease fees. Typical fees are around $0.15 for every mile over the agreed-upon limit.