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Leasing a car can be a great option for those who want to drive a new vehicle without committing to a long-term loan or paying the full purchase price. But how much does it cost to lease a Ford Mustang? Let’s take a closer look at the factors that can affect the price of a Mustang lease.
The Cost of a Ford Mustang Lease
The cost of leasing a Ford Mustang can vary depending on several factors, including the model, trim level, and options you choose. The base price of a 2021 Mustang ranges from $27,205 for the EcoBoost Fastback to $51,270 for the Shelby GT500. The higher the price of the car, the more you can expect to pay per month for a lease.
Lease Term
Another factor that can affect the cost of a Mustang lease is the lease term. Most leases last between 24 and 48 months, but some dealerships may offer longer or shorter terms. Generally, the longer the lease term, the lower your monthly payments will be. However, keep in mind that a longer lease term also means you’ll be making payments for a longer period of time.
Down Payment
Depending on the dealership and the terms of the lease, you may be required to make a down payment when you sign the lease agreement. This can help to lower your monthly payments, but it also means you’ll have to pay more upfront. Some dealerships may offer no-money-down leases, but these typically come with higher monthly payments.
Credit Score
Your credit score can also impact the cost of your Mustang lease. If you have good credit, you may qualify for a lower interest rate, which can help to lower your monthly payments. On the other hand, if you have poor credit, you may be required to make a higher down payment or pay a higher interest rate, which can increase the overall cost of the lease.
Insurance
When you lease a Ford Mustang, you’ll be required to carry full insurance coverage on the vehicle. The cost of your insurance can also impact the overall cost of your lease. If you have a good driving record and a high credit score, you may be able to qualify for lower insurance rates. However, if you have a history of accidents or tickets, you may have to pay more for insurance.
Mileage Allowance
Most lease agreements come with a mileage allowance, which is the maximum number of miles you can drive the vehicle during the lease term. If you go over the mileage allowance, you’ll be charged a fee for each additional mile. Make sure you choose a mileage allowance that fits your driving habits to avoid extra fees.
End-of-Lease Fees
When your lease term is up, you’ll be required to return the vehicle to the dealership. Depending on the terms of your lease agreement, you may be required to pay additional fees, such as a disposition fee or excess wear and tear charges. Make sure you understand all of the end-of-lease fees before you sign the lease agreement.
Overall, the cost of leasing a Ford Mustang can vary depending on several factors. To get an accurate estimate of how much it will cost to lease a Mustang in your area, contact your local Ford dealership.
