AUTOS

Ford to Simplify Car Lease: The auto maker said its new contract, which goes into effect July 1, uses color symbols, easy-to-understand language and 1,000 fewer words than the previous contract. It will also disclose the vehicle’s capitalized cost, which is comparable to the sale price of a vehicle and is important in determining the amount of a retail customer’s monthly payment. “By giving more information and simplifying the presentation, this new lease will help build a more positive relationship between Ford Credit and the lease customer,” said A.J. Wagner, vice president of marketing for Ford Motor Credit Co. Lease contracts have come under criticism for being confusing and prone to abuse by unscrupulous sales representatives.