To buy or to lease, that is the question

There are a lot of benefits to both buying and leasing a vehicle. Once you know the differences, you will be able to make an informed decision as to which way is best for you. Click here for an instant quote of buying vs. leasing on selected vehicles.

Through Learn Vehicle Leasing we can lease any make and model of vehicle. Please e-mail us with the make and model you want along with the term and mileage you require.

Ford Red Carpet Lease offers the following protection program:

WearCare: protection at lease end

Peace of Mind: protection if you pass away

Gap Protection: protection in the event of a write-off

How leasing differs from purchase financing:
Whether you are buying or leasing, first you need to select a vehicle, and agree on a selling price.

When you lease we can determine how much your chosen vehicle will be worth down the road, at a specified time. We use such factors as the make, model, equipment and the number of anticipated kms to determine this future value. This future value is subtracted from your selling price, and you are paying on the difference. As with conventional financing there are interest charges and taxes, that also factor into your monthly payment.

Conventional finance terms these days are typically 4 to 6 years, while lease terms tend to be 2 to 4 years. Since many people are not keeping their vehicles for 6 years, why should they be paying for that long? With a lease you are paying for the portion of the vehicle's life that you are actually going to be driving it.

* According to most automotive experts including the C.A.A., the costs of maintenance and repairs continues to increase as a vehicle gets older. With most of our lease terms you are under warranty and driving during the least expensive portion of the vehicle’s life (the gas and go phase). You are mainly changing the oil and filter and rotating your tires.

** When you buy a vehicle you take the risk as to the resale or trade in value for down the road. While when you lease, the leasing company guarantees the future value of the vehicle (based on it being in certain condition with specified kms). This way the leasing company is taking the risk of resale, not the customer.

Lease End Options:
At the end of your chosen term (and completion of lease obligations) you have options based on the future value that was determined upfront when you began the lease. Your lease end options are:

1. Return the vehicle and lease or purchase a new one. OR
2. Purchase the vehicle at the predetermined future value (plus taxes, safety and transfer fees) and keep it. OR
3. Return the vehicle and walk away***

***The vehicle is subject to a lease end inspection for excess wear & tear and mileage. A copy of the Ford Credit Wear & Tear Guidelines is available upon request. Click here

Leasing and High End Kilometrage
Many people - especially business and sales people - believe that leasing and high kilometrage don’t mix. This is a common misconception.

Whether you purchase a vehicle or lease it, there’s always a price to pay for high kilometrage. With Ford Credit Red Carpet Lease, you will have the advantage of knowing what high kilometrage will cost in terms of added depreciation - an unknown factor until you’re ready to sell or trade in your vehicle. The real cost of high kilometrage when you purchase a vehicle can be highly speculative.

If you are a high kilometrage driver fill out this lease quote form for a no obligation quote as to how leasing might work to your advantage.