They say all good things must come to an end. If you’ve taken on a Ford lease, that means figuring out what to do when the lease term ends. The team at Don’s Ford will help you navigate the questions and decisions that come with this process so you can make a choice you’ll be content with.
What Happens at the End of My Lease?
When your Ford lease ends, you have a few choices:
- Extend your lease
- Purchase the vehicle for the price agreed upon at lease inception
- Lease another new Ford model
- Fulfill your lease obligations and look elsewhere
Can I Extend My Lease?
You can. It’s a good option for the times when a new model you’d like hasn’t come out yet, if your lease end sneaks up on you, or if you’re merely indecisive.
Can I Buy the Car When My Lease is Up?
If you fall in love with the vehicle you’ve leased, why not make the relationship permanent? Our finance department will assist you with making the transition between the lease and Ford financing, giving you time to pay off the remaining balance.
Will I Have to Pay Anything?
There are three types of fees you may encounter at lease end:
- Wear and tear penalties: If the lease-end inspection finds more wear than is allowed under the lease terms, this incurs a fee that you may be able to offset by visiting for Ford service before lease disposition.
- Mileage penalties: Your lease comes with a mileage allowance, and each mile by which you exceed it comes at a cost.
- Lease disposition fees: When the lease is over, the vehicle often needs to be reconditioned and may need minor repairs; this fee may be waived under certain customer loyalty programs.
For a more comprehensive idea of what to expect when the time comes to return your leased Ford vehicle, contact your Utica Ford dealership for help!