Finance & Leaseing Services:
Solutions for every credit situation
Vehicle Financing & Leasing Process
Our financial service representatives make the vehicle financing or leasing process painless. On this page, you’ll find some basic information on what that process looks like here at Jacobson Ford.
Create a budget
It’s important to understand your financial situation, including available cash for vehicle insurance, fuel, and maintenance. Make sure you know exactly what you can afford without feeling financially squeezed.
Find your perfect fit
Come into Jacobson Ford and talk to our no-pressure sales staff. They’ll discuss your vehicle needs and wants and find the perfect car, truck or SUV which fits your budget. Take it for a test drive and make sure you absolutely love it.
After you’ve found your perfect vehicle, our lease & finance experts will work with a number of different banks and credit unions to secure you the best rate available. Jacobson Ford has solutions for almost every credit situation. Check out a comprehensive list of lenders we work with, below.
Consider a Down Payment
Down payments aren’t always necessary, but sometimes they can reduce your monthly payments. In other instances, they can increase the likelihood of getting approved. $0 down situations do occur, so if you’re feeling strapped for savings, don’t worry.
During the lease and financing process, our experts will check your credit. No matter what your situation – good, bad, or no credit – we have solutions to get you driving.
Review your Agreement
Be it lease or finance, make sure you understand the length of your term, your payment schedule, down payment amount, and any maintenance which you may be responsible for. That’s it! After you’ve signed, make sure you keep up with your payments, which can help to boost your credit score.
Financing VS Leasing Cost Comparison
Generally speaking, leasing is better for individuals who would like to drive a new vehicle every two or three years. Payments are lower and your vehicle is always under warranty. People looking to lease should have an average number of miles to drive and be okay with regular vehicle maintenance.
Financing is usually a better fit for individuals who want to keep their vehicle for a long time. They have the freedom to customize their car and will enjoy being payment-free after the loan is repaid. Finance payments will be higher than lease payments, but feel free put more miles on your vehicle.
Short Term Cost
When considering financing or leasing the same vehicle, at the same price, for the same term, and same down payment, a monthly lease payment will always be 30%-60% lower than loan payments. This is still true even when compared to 0% or low-interest loans.
Medium Term Cost
For a medium length term, the cost of leasing is about the same as the cost of financing, assuming the financed vehicle is sold or traded and the leased vehicle is returned at lease-end. Remember that market value will dictate your return on a financed vehicle.
Long Term Cost
Long-term cost of leasing is always more than the cost of financing, assuming the buyer keeps their vehicle for many more years after loan-end. For example, if the owner drives it for 10 more years. Driving the same vehicle fo 10 years is less expensive than leasing four or five different vehicles over the same time period.