Ford Finance Terms You Should Know

When you apply for a Ford finance offer, there are several terms you'll need to be acquainted with. Our finance team can help you understand every term on your loan or lease, including how they affect your financing offer. Knowing these terms can help you find the best financing offers and keep you on track to making on-time payments - let's explore a few.

Down Payment

The down payment is how much you pay for your vehicle at signing. In general, we recommend you put at least 20% down on the vehicle when you sign the terms. This will reduce your overall monthly payment and lets you get a head start on paying your vehicle off.

Early Termination Fees

Sometimes, you need to end your lease early. We can help you transition out of your current lease, although you'll also be charged an early termination fee. This will be listed on your lease at signing, so keep it in the back of your mind.

Interest Rates

Your loan or lease will steadily accrue interest as time goes on. The interest rate helps you calculate how much interest will be generated by the time your next payment is due.

Monthly Payment

After the down payment amount is removed from the total, you can then calculate the monthly payment. This is what you're expected to pay on your financing offer each month.

MSRP

Also called the sticker price, the Manufacturer's Suggested Retail Price (MSRP) is the recommended selling price as stated by Ford. This isn't always the total you'll pay on your loan, but it gives you a baseline for what it will cost.

Rebate

Sometimes, our Folsom, CA Ford dealership offers rebates and incentives on financing offers. If there is an applicable rebate added to your loan, it will be marked as such.

Term

Whether you buy a new Ford SUV or are looking for a Ford lease, you'll want to know the term of your financing offer (or how long the offer lasts). This can range from 12 to 36 months on average, with varying monthly payment thresholds depending on your timeline.

Explore Ford Finance Offers at Folsom Lake Ford

Our finance team can help you find the best financing options available if you're looking to buy or lease a new Ford vehicle. Visit Folsom Lake Ford today to see what options you're eligible for.