Here at O’Brien Ford of Shelbyville, we believe the Ford financing process should be easy and accessible for everyone. That’s why we offer a wide range of financing tools and options and take time to educate our customers about the financing process. Here’s a closer look at the difference between loans and leases and how each might work for your financing needs.
Loans Explained
When you finance your vehicle, you’re paying down a loan to own it at the end. This can be an excellent option for drivers who like to have control of where and how they drive and customize their vehicles.
It’s also a good idea to consider purchasing a vehicle if you don’t have perfect credit since it isn’t required to qualify. When you buy a car, you’ll want to account for the down payment, the monthly payments, the length of the term, the interest rate, and in-between costs like sales tax and insurance. The more money you can put down on the day of purchase, the more you’ll save in the long term.
Leases Explained
There are many reasons to consider leasing your next Ford vehicle. To start, leases are less expensive than loans since you’re using the car temporarily.
If there is one at all, your down payment will be smaller, and your monthly payments will be as well. You’ll also have access to the latest models on the market, affording access to the most advanced safety and entertainment features. However, it’s important to note that you typically need a high credit score to qualify for a lease.
Meet With Our Ford Financing Team
No matter what your financing needs might be, O’Brien Ford of Shelbyville is here to help. Learn more about financing and leasing, and take home the perfect new Ford vehicle at our dealership today.
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