Financing vs Leasing
Financing vs Leasing
Make an informed decision when choosing between leasing and financing a vehicle. Leasing offers lower payments and always under warranty, while financing is better for long-term ownership and customization.
Should You Lease or Finance Your Next Ford?
At Jacobson Ford in Salmon Arm, we know that every driver has unique needs when it comes to how they pay for their vehicle. Whether you’re interested in financing or leasing, our experienced finance team is here to help you make the best choice for your lifestyle and budget.
We proudly serve Salmon Arm, Kamloops, Vernon, Kelowna, and surrounding areas with transparent, flexible auto financing solutions.
What’s the Difference Between Leasing and Financing?
Financing a Vehicle (Buying)
When you finance, you’re taking out a loan to buy the vehicle. You own it once the loan is paid off.
Pros of Financing:
- Full ownership after the loan term
- No mileage limits
- You can customize or modify your vehicle
- Better long-term value if you keep your vehicle for years
Best For:
Drivers who plan to keep their vehicle long-term, drive more than average mileage, or want to build equity in their vehicle.
Leasing a Vehicle
When you lease, you’re essentially renting the vehicle for a set term (usually 2–4 years). At the end of the lease, you can either return the vehicle or buy it out.
Pros of Leasing:
- Lower monthly payments than financing
- Access to a new car every few years
- Fewer repair costs (covered under warranty)
- Lower upfront cost
Best For:
Drivers who like newer models, want lower monthly payments, and don’t drive excessively (within kilometre limits).
Lease vs. Finance Comparison
| Feature | Lease | Finance |
|---|---|---|
| Monthly Payments | Lower | Higher |
| Ownership | No | Yes |
| Mileage Limits | Yes (e.g., 16,000–24,000 km) | No |
| Customization | Not allowed | Allowed |
| Long-Term Cost | Higher (if repeated leasing) | Lower (if keeping vehicle) |
| End-of-Term Options | Return or buyout | Keep or sell |
Need Help Choosing?
Not sure whether leasing or financing is right for you? Let our team at Jacobson Ford walk you through your options. We work with major lenders, Ford Credit, and offer custom payment plans tailored to your needs.
- First-time buyer programs
- Bad credit or rebuilding credit support
- Trade-in options to reduce your payment
- Online pre-approval available
Serving Interior BC Drivers
We help drivers across:
- Salmon Arm
- Kamloops
- Kelowna
- Vernon
- Enderby
- Sicamous
- And the Shuswap region
Talk to a Finance Specialist Today
Call us at (250) 832-2101 or fill out our secure finance application to get started. Our team is here to answer all your questions about leasing vs. financing and help you find the right payment option.
