MyVans Your Vehicle Solution The Ford Expedition is one of the most popular full-size SUVs in the market today. It is a versatile, powerful, and spacious vehicle that can accommodate up to eight passengers. However, not everyone can afford to buy a brand new Expedition. Fortunately, leasing is a viable option for those who want to drive this SUV without breaking the bank.
Leasing Basics
Leasing a car is like renting it for a longer period, typically two to four years. You pay a monthly fee that covers the depreciation, interest, and other fees associated with the vehicle. At the end of the lease, you can either return the car, buy it for a predetermined price, or lease another vehicle.
Factors Affecting the Lease Price
The cost of leasing a Ford Expedition varies depending on several factors. Here are some of them:
Vehicle Model and Trim
The base model of the Expedition costs less than the higher trims, such as the Platinum or King Ranch. The more features and amenities the car has, the higher the lease price.
Lease Term and Mileage
The longer the lease term, the lower the monthly payments, but the higher the total cost. Similarly, a lower mileage limit reduces the monthly fee, but exceeding it incurs additional charges.
Location and Taxes
The lease price also varies by location and state taxes. Some areas have higher lease rates and sales taxes than others.
Lease Offers and Incentives
Ford and its dealerships offer lease deals and incentives from time to time. These may include cashback, discounts, or low-interest rates. Checking the official Ford website or local dealerships can give you an idea of the current promotions available.
Credit Score and History
Lastly, your credit score and history affect your ability to lease a car and the terms of the lease. A higher credit score usually qualifies you for lower interest rates and better lease offers.
Overall, the monthly lease price for a Ford Expedition ranges from $400 to $700, depending on the factors above. However, it’s essential to read the fine print and understand the terms and conditions of the lease before signing any contract.
If you have more questions about leasing a Ford Expedition, here are some common ones:
Can I negotiate the lease price?
Yes, you can negotiate the lease price with the dealership. However, the extent of negotiation depends on the car’s demand and supply in your area, the dealer’s profit margin, and your creditworthiness.
What happens if I exceed the mileage limit?
You will have to pay an excess mileage fee, which ranges from 10 to 25 cents per mile, depending on the car and the lease contract.
Can I customize the vehicle during the lease?
It depends on the dealership’s policies and the extent of customization you want. Some dealers allow minor modifications, such as window tinting or floor mats, while others prohibit any alterations.
Can I terminate the lease early?
Yes, but it comes with penalties and fees. Terminating the lease early means you have to pay for the remaining payments, any outstanding fees, and a termination fee, which can amount to thousands of dollars.
