Customize your lease to achieve the greatest benefits
If you’ve already made the decision to lease a new car instead of financing it, you may already be halfway to driving a new car off the lot. The other half of the equation involves deciding which lease options serve you best.
“Most of our leasing customers have already made up their minds to lease,” says Dave Michnik, Director of Sales, Lower Mainland operations, Coastal Ford. “For example, they don’t want to worry about trade-ins, they like lease payments that are typically lower than similar term finance payments and they may be taking advantage of the ability to write off the full cost of leasing as a business expense.”
Michnik notes that there’s no such thing as an off-the-shelf lease.
“By letting us know some simple things, like how you intend to use the vehicle, we can help you to create an optimized custom lease package offering the maximum benefits to the customer.” Some important questions for drivers who have made the decision to lease: • What do you plan to do with your leased vehicle at the end of the lease term? A number of options are available, including: purchase or lease a new vehicle; purchase your current leased vehicle at a pre-determined price; or return your leased vehicle (after satisfying any lease-end obligations). • How far do you expect to drive the vehicle each year?
A Ford lease allows you to customize your kilometre options. Choose from three kilometre options ranging from 16,000 to 25,000 kilometres per year. If you’re into longer annual distances driven, you can also purchase an option to include additional kilometres above 25,000 at the inception of your lease. • Does your vehicle insurance allow for a Gap Protection Benefit? A Guaranteed Auto Protection (GAP) provision may waive the difference — or gap — between the pay-off offered by your insurance company and the outstanding balance of your lease in the event that your leased vehicle is stolen or declared a total loss. It’s a unique feature that can be included at no extra charge with your lease, but only if you arrange for the necessary insurance required by your lease agreement. Certain restrictions may apply, so check with your Coastal Ford leasing agent. • Do you prefer to pay the terms of your lease up front?
Ford’s Advance Payment Program, for example, allows you to pay all monthly lease payments up front with one single payment. The advantage? You avoid the hassle of monthly payments and the total payment usually adds up to less than what the total monthly payments would otherwise have been. If applicable, the leasing company will send a final invoice for any remaining charges, such as excess wear and tear or excess kilometres, at the end of the lease.
“Supply us with the right information and we can help you to optimize your lease to offer you the greatest benefit for your particular situation,” says Michnik. “The choice is yours, and the expertise is ours.” – Peter Kenter Postmedia Content Works