If you plan to lease a car in the near future, then it would be beneficial to know some of the most important Ford car leasing terms. This way, you’ll know exactly what’s going on during the negotiations. When you understand what the dealer is saying it will help you to know if you’re getting a good deal or if you should back away and try another company. Acquisition Fee is the charge put in place by the leasing company to cover the processing fees. Base Interest Rate is determined by the amount of interest that will be paid throughout the duration of the agreement.
Depreciation is the amount of money that the vehicle will decrease in value during the term of the ford lease. Early Termination Fee is what you’ll be required to pay if, for whatever reason, you decide to end the contract early. Dealer Participation is any form of discount given by the leasing company that helps to reduce the purchase price. Excess Wear and Tear is the term used to describe damage done to the vehicle that is considered to not be normal or anything caused by neglect. Leasing Term is the length of time the contract is written for and it usually runs for twelve, twenty-four or thirty-six months although, longer leasing terms will sometimes be offered. For more details check out on outdoor ford covers for car.
Security deposit is the amount of money that you pay at the beginning of the contract to cover any excessive damage done to the vehicle. Mileage Allowance is the number of miles allotted for you throughout the duration of the contract. This is not a complete list of all the terminology used in the leasing business but it’s enough to help you get an idea of … Read More