Ford Explorer Lease

The Ford Explorer for sale near Milwaukee is the SUV that started the craze–and it’s still a strong contender in the SUV market. It has a premium interior that seats seven, robust mechanicals, and high-tech features. It’s easy to see why Wisconsin drivers love this car.

But, new car prices are climbing due to a low number of microchips and low inventory. So, it might seem impossible to own the newest Ford Explorer for sale near Milwaukee. But, you have another option. You can lease an Explorer instead of using Ford Motor Credit’s financing program. Leasing offers our customers at Ewald Venus Ford a variety of benefits, listed below:

• Downpayment is little to non-existent when you lease.

• There are flexible leasing payment options.

• Your monthly payments might be lower than if you financed a new SUV for sale near Milwaukee.

• If repairs or maintenance are needed, Ewald Venus Ford covers it and returns your Explorer in excellent condition.

• You can upgrade to the newest model every few years.

Continue reading to learn more about leasing an Explorer at Ewald Venus Ford.

How Much To Lease A Ford Explorer

A Ford Explorer lease varies depending on your credit score and the trim level you want. So, if you would like to know how much a Ford Explorer lease costs, please visit Ewald Venus Ford. Our finance experts would gladly help you determine the cost of a lease.

Another factor that could reduce the amount you pay for a lease is the Ford Explorer lease deals offered by Ewald Venus Ford. Be sure to check out our website to see if Ford Explorer lease deals are currently available! These deals will give you an affordable down payment and a low monthly fee on a new Explorer.

How Does Ford Calculate Lease Payments?

You can calculate a lease by evaluating and adding the depreciation fee, plus a monthly sales tax and financing fee. If you want to calculate your payment manually, below is our formula:

1. Start with the sticker price (MSRP) of the Ford Explorer.

2. Take the Explorer’s MSRP and multiply it by the residual percentage.

3. The MSRP multiplied by the residual percentage equals the residual value.

4. Then take the negotiated selling price of the Explorer. Then, add in the fees to get the gross capitalized cost.

5. Then subtract your down payment, and rebates from the gross capitalized cost. The result is your adjusted capitalized cost.

6. Subtract the residual value from the adjusted capital cost. This is your depreciation value.

7. Divide the depreciation value by the number of months in your lease. This is your base payment.

If you don’t want to calculate your lease payment yourself, you can come to Ewald’s Finance Center to have an expert do it for you. They will run through it step-by-step alongside you.

What Credit Score Do You Need For A Car Lease?

According to NerdWallet, the exact credit score you need to lease a car varies from dealership to dealership. The typical minimum for most dealerships is 620. 

For some customers, it might be advantageous to buy a used SUV for sale near Milwaukee using Ford Motor Credit. This will help you build your credit score and get you behind the wheel of an Explorer. But, Ewald Venus Ford is willing to work with all our customers regardless of your credit score.

Can You Negotiate A Ford Lease Buyout?

 

When you leased a Ford Explorer, you probably decided based on your finances and desire to drive a new model every few years. But what if you decide that you love the Ford Explorer you leased and want to drive it for more than a few years? You’re in luck–you can negotiate a Ford lease buyout.

There are two types of Ford Explorer lease buyouts to consider:

• A lease-end buyout. The most common type of lease buyout. The Ford Explorer’s price is based on the residual value of the SUV at the end of the leasing term.

• An early lease buyout. This is a good option for Wisconsin drivers hoping to avoid mileage and service penalties. Your SUV price will be based on what you still owe on your lease and the estimated lease-end value.

Once you have determined which type of buyout you want to make, it’s time to go to our Ford dealer near Milwaukee. We give our customers a price close to what you request.

What Is The Disadvantage Of Leasing A Car?

The most significant disadvantage of leasing a car is that you don’t own it at the end of the leasing term. That is if you don’t buy out your Ford Explorer lease.

Get A Lease At Ewald Venus Ford

We are ready to help you! Our Ford dealer near Milwaukee is the hub for all your most needed services and shopping needs. Come to Ewald Venus Ford to experience a pressure-free buying and leasing environment with complimentary amenities and friendly staff.