A contract between Ford and a customers posterior.
Also includes a sub-par vehicle that disappears after the term of the lease expires leaving the customer in bewilderment at the vacant hole in their bank account and the throbbing from their backside.
Also known as "The Buttfuck"
Regular use -
Ford: "You're late for your Ford Lease payments this month."
Customer: "Please use lube..."
Slang use -
Geoff: "So Ford Leased you?"
Andrey: "Yup, right in the rear wiper."