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If you’re in the market for a new car, leasing can be a great option. It allows you to drive a new vehicle without having to deal with the hassle of ownership. In this article, we’ll take a look at how much it costs to lease a Ford Explorer.
Leasing Basics
Before we dive into the specifics of leasing a Ford Explorer, let’s go over some basics. When you lease a car, you’re essentially renting it for a set period of time. You’ll make monthly payments for the duration of the lease, typically two to three years. At the end of the lease, you’ll return the car to the dealership.
Factors That Affect the Cost of Leasing
The cost of leasing a Ford Explorer will depend on a few different factors. The first is the price of the vehicle. The more expensive the car, the higher your monthly payments will be. Another factor is the length of the lease. Generally, longer leases come with lower monthly payments, but you’ll end up paying more in the long run. Finally, your credit score will also play a role. If you have good credit, you’ll likely be able to secure a better interest rate, which will lower your monthly payments.
The Cost of Leasing a Ford Explorer
So, how much does it cost to lease a Ford Explorer? The answer depends on the trim level you choose and the length of the lease. For example, as of this writing, a 2021 Ford Explorer XLT with a 36-month lease is advertised at $439 per month with $4,329 due at signing. A 2021 Ford Explorer Limited with a 36-month lease is advertised at $539 per month with $5,329 due at signing. These prices may vary depending on your location and individual circumstances.
Other Costs to Consider
When leasing a car, there are a few other costs to keep in mind. First, you’ll need to have insurance that meets the dealership’s requirements. This can add to your monthly expenses. Additionally, you’ll be responsible for any excess wear and tear on the car when you return it at the end of the lease. Finally, if you exceed the mileage limit set by the dealership, you’ll be charged for every extra mile you drive.
People Also Ask
Q: Can I negotiate the price of a lease?
A: Yes, you can negotiate the price of a lease, just like you would if you were buying a car.
Q: Is it better to lease or buy a car?
A: It depends on your individual circumstances. Leasing may be a better option if you want a new car every few years and don’t want to deal with the hassle of ownership. Buying may be a better option if you want to own the car outright and plan on keeping it for a long time.
