The Ford Fusion is one of the most popular Ford models, and a car that is keenly promoted under Ford’s Red Carpet Lease Program. Anyone not familiar leasing a vehicle would do well to research the specifics of what is involved, and see if it is appropriate to their needs.
Leasing a vehicle should be thought of in similar terms to a long-term rental. A lease agreement is likely to be for around 3 to 5 years, although shorter and longer terms are possible. For the duration of that time the person who has taken out the lease will be responsible for the vehicle, although they will not end the title of it.
At the beginning of the lease negotiation, it should be remembered that there are a number of things that can affect the lease contract itself. Ford’s red carpet lease program will come with a number of standard errors of the program, but there are also a number of things that can be negotiated.
Red Carpet Lease on a Ford Fusion
One of the main areas of the lease agreement will be the mileage allowance. There will be a fixed mileage allowance under the terms of the lease, quite likely on a per annum basis, although it could be quoted for for the entire period of the lease agreement.
The reason there is a mileage allowance is because the amount of mileage done by the vehicle affects its residual value, and as such its depreciation.
Whilst the Ford dealer will stipulate the standard mileage allowance as they consider appropriate for the lease on the Ford fusion, it should be remembered that this is negotiable.
It may result in a slightly higher monthly cost but if the person intending to drive vehicle think this is appropriate than it is worth considering.
It will also be possible to buy additional mileage during the term of the lease, and the rate at which it can be bought should be negotiated before the lease takes effect and written into the lease agreement itself.
At the end of the lease any excess mileage will also be charged back to the lessee. Again the rate at which this is charged should also be agreed at the outset of the lease agreement, to avoid any discrepancy or distortion when the lease expires.