Central Ford Finance Center in Plainfield CT

To Finance or to Lease? That is the Question & Central Ford has Answers for You!

Financing and leasing are two great payment solutions to consider for your next car, as an alternative to paying cash. Even many of our used cars near Norwich may still cost thousands of dollars out-of-pocket, so most of our customers at Central Ford turn to financing or leasing. Whether you need a car for the short-term or the long, there are a number of benefits and downsides to financing and leasing. Let us go over these pros and cons with you so you can decide which works better for your needs. When you're ready you can start your deal online and visit our Ford dealership near New London for a test drive. Central Ford is less than a 25-minute drive outside of Norwich, CT.

Financing for the Long-Term

Financing is a streamlined alternative to buying Ford models like the F-150, and  that divides the total cost of the car you want into several monthly installments, with a down payment due at loan signing. All payments to your new Ford or used car loan are handled through a reputable outside lending company and, as long as payments are met, the car is yours to go wherever you want outside New London, and customizer however you see fit. Loan deals are a great option if you had credit issues in the past. When you make regular, timely payments on the loan, you build equity, which strengthens your credit and buying power. Finally, when the loan is fully paid off, the vehicle is all yours to own!

Cons of Financing

  • Warranty Expiration: While Ford warranties are comprehensive, they will not last forever, so a long-term loan will eventually lead to you losing warranty protection. However, you can still purchase additional protection plans at a later date to make long-term maintenance costs lower.
  • Depreciation: Every new car suffers from a drop in value during the first year of its lifespan, known as "depreciation." While the physical condition of the car remains the same, you may not get as big a return back on your investment should you decide to sell the vehicle.
  • Higher Payments: We often provide low APR/low payment loan deals to make payments more flexible, but drivers who choose financing may find themselves paying more each month.

Leasing for the Short-Term

If you have a shorter commute in Putnam, CT, and do not take frequent road trips, you might like the benefits of leasing. Unlike loans, which are handled through outside companies lease contracts are handled in-house by our financing team. You still make regular payments monthly, but for a shorter term than in an auto loan agreement, usually between 26 and 60 months. Throughout that time, the vehicle remains covered under warranty and once your lease ends, you can return the new car to us and pick out another new Ford to lease. Lease payments are also much lower, as they only cover a certain percentage of the vehicle's overall value.

Cons of Leasing

  • Customizations: When you lease a new Ford, you generally have little options when it comes to customizations you can make to the vehicle. Leased Fords must be returned in as close to its original condition as possible, so the lessee is held liable for any permanent changes they make to the car.
  • Mileage Restrictions: When you sign a lease contract, you agree to an annual mileage that must not be exceeded. Any overages to annual mileage can also result in financial penalties, although, a lessee may purchase additional mileage if they choose.
  • Credit: While our dealership works with low credit households, or drivers with no credit at all, you generally need to be in good financial standing to be approved for a lease agreement. We may be able to issue a low-credit lease, but it may require the lessee pay a security deposit.

Start Online with Our Finance Center

No matter which payment option you choose, our financing center is always here to assist. We work with all customers of all financial situations and we want to help get you into the car you need without it hurting your budget. Shoppers can even get started with financing from their home in nearby Groton, CT and use our various digital tools. When you find the car you want, you can use the payment calculator to see what your monthly financing payments will look like and get an estimate for your trade-in to find out how much of a down payment you may need. Our digital retailing tools also include a quick and secure finance application to secure pre-approval for a loan or lease in minutes.

Finance or Lease with Us Today

We invite you to start financing or leading here at Central Ford today. You can contact us over the phone, online, or you can visit our dealership in Plainfield, CT to discuss your financing options more in-depth. Central Ford is located near Killingly, and we look forward to working with you!

Finance Question? Contact Us!

  1. Central Ford

    98 Lathrop Road
    Plainfield, CT 06374

    • Sales: (860) 564-4014
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Get in Touch

  • Contact our Sales Department at: (860) 564-4014
  • Monday9:00am - 7:00pm
  • Tuesday9:00am - 7:00pm
  • Wednesday9:00am - 7:00pm
  • Thursday9:00am - 7:00pm
  • Friday9:00am - 6:00pm
  • Saturday9:00am - 5:00pm
  • SundayClosed