A Ford escape is one of the most popular Ford models available, and a number of potential customers are likely to consider the option of a red carpet lease agreement.
The red carpet lease program is Ford credits leasing option for individuals who would prefer to lease a vehicle rather than by one outright.
For many people, there are advantages in leasing in terms of the benefits of being able to have a brand-new car truck that they would not otherwise be able to afford to buy. It is always worth remembering leasing a Ford escape this means that the individual is not actually own title to it, it is essentially a long-term rental.
The structure of a red carpet lease deal on a Ford escape in terms of application and process is fairly similar to that of an auto loan.
The applicant will need to go through a standard credit checked applications, done with Ford credit, to assess their creditworthiness and for Ford to decide whether or not to effectively extend them finance. If the individual is successful, then for credit will decide how much to effectively lend them, and on what terms and conditions.
Ford Escape Red Carpet Lease
A red carpet lease program will constitute a structured lease agreement that includes a down payment, a fixed monthly repayment cost, an agreed mileage allowance for the term of the lease and an end of lease payment, commonly known as lease end costs.
It is worth thinking of a Ford escape red carpet lease agreement as essentially a long-term rental. At the end of the rental period, the state and condition of the vehicle is assessed, either by Ford credit or by an agent of theirs, and an amount agreed that will be needed to bring the vehicle up to a state and condition that is considered normal given its age and mileage.
There may also be an additional mileage cost. At the outset of the lease, there will be an agreement as to the mileage allowance, either on a yearly basis or for the overall time of the lease.
Although additional mileage can be bought during the time of the lease, it is fairly common for the additional mileage to be settled at the end of the lease agreement. The basis of how additional mileage should be Collated and charged should be specified in the lease agreement itself.