Paying off a lease early, or trying to terminate or end a lease for it finishes is normally fraught with difficulties, as there are likely to be early termination charges in the lease agreement, and the whole intent of how a lease works is that it is calculated and worked out over a significant period of time anything between three and five years.
An early termination charge in a Ford Motor credit lease agreement is likely to be fairly hefty.
This in part is to discourage people from terminating the lease agreement before it finishes, but also because the terms and conditions of the original lease will have been worked out over a much longer period of time.
This means that the terms and conditions of the lease agreement including the size of the down payment, the monthly charge, the mileage allowances, extended warranties, valuation of lease end costs, servicing and maintenance plans etc have all been marked out on the basis of a specific time period for the lease.
Ford Motor Credit Lease Early
Someone wanting to pay off a lease early therefore disrupts the basis of how the lease has been agreed, and as such faces a considerable charge.
The basis of an early termination charge should be included in the lease agreement, on the basis of its compilation spelt out clearly. Anyone entering a Ford Motor credit lease agreement should have the intent to stay in that agreement until expiry.
If someone does find that they get into financial difficulties, or they have real problems in paying the monthly commitment to ford credit with regard to the lease, then it is crucial that they contact dealership or Ford credit directly and try and negotiate some type of agreement to help see them through it.
A lot will depend on the circumstances of the lease agreement in place, but it is crucial that the customer is up front with Ford were any problems they may be having financially. Failure to do so will likely result in repossession of the vehicle, and a seriously adverse effect on the customers credit report and credit score which will cause impact any future loan or credit arrangements.