A high level look at Ford leasing
If you're wondering whether to get a car loan or a lease, you probably have a number of questions about which strategy will work best for you. Most people finance a new Ford with a car loan but there are some reasons to consider getting a Ford lease. Since the specialists in our finance center have years of experience with both approaches, here are some of the pros and cons involved in getting a lease from Heritage Valley Ford at one of our two locations in Putnam and Brooklyn, CT.
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Is leasing a good way to get a new Ford truck or SUV?
Leasing can be a viable way to get your next new Ford F-150, Ford F-350, Ford Bronco, Ford Edge, Ford Escape or any other brand-new Ford vehicle. It has unique advantages, especially because it requires less money upfront and gives you lower payments. It does have financial downsides that you should be aware of. A lease isn't a way to someday own your Ford model and it doesn't allow you to build cash value in the vehicle you drive every day. Here are more fundamentals about leasing.
Some benefits of leasing
If you'd like to get a brand-new Ford F-150 pickuip and you want to reduce the amount you pay each month, a lease is one way to do that. Monthly Ford lease payments are typically less than loan payments would be for the same vehicle. In addition, the amount of money required as a down payment - the "amount due at signing" - is usually less than with a loan. A lease allows you to bring the vehicle back to us at lease-end and buy or lease another new Ford.
Some leasing disadvantages
When you lease a new Ford Bronco SUV or a new Ford Edge, you aren't building cash value in that vehicle when you make monthly lease payments - like you would with a Ford car loan. With a new Ford lease, it's like renting the vehicle so you aren't creating equity you can someday use to purchase your next vehicle. A lease limits the number of miles you can drive each year without incurring a penalty for excess miles and you have to pay for any excess damage or wear-and-tear at the end of your Ford lease.
How long does a Ford lease usually last?
The most common term for a Ford lease is 36 months. At the end of your lease contract, you bring the Ford truck or SUV back to our dealership, cover the cost of any excess miles or damage, and then you have several options. Leasing customers from Woodstock or Thompson, CT can sign a new lease and drive home in another new Ford. You can also buy the car you've been leasing or you can stop leasing altogether and just buy a new Ford or an affordable used vehicle.
What kinds of situations might be right for leasing?
If cash flow is a high priority and you want to reduce your monthly payments, leasing a new Ford Expedition or Mustang is one way you can accomplish that. If you like driving a brand-new Ford every few years - and getting all the latest features and designs - leasing can let you do that easily. If you like the concept of dropping off your Ford with us at the end of the lease contract and leasing a new one - without having to sell the old vehicle - that's another advantage leasing offers.
We can help you decide
The staff in our finance center can tell you more about the pros and cons of a lease vs. a loan, so you can decide which choice works best. To start the shopping process, take a look at our new inventory or you can zero in on our new Ford trucks or our selection of new Ford SUVs. Then stop by our finance center and learn more about leasing at either location of Heritage Valley Ford in Putnam or Brooklyn, CT.
Frequently Asked Questions
This important choice comes down to your monthly budget and how you expect to use your vehicle. Leasing typically comes with a lower monthly payment than a traditional loan, but there are restrictions on mileage and customization. On the other hand, a loan may be associated with a higher payment but you will be building equity and will spend less over the life of the vehicle.
We will work with you to craft the deal that works for your budget. Most loan terms will fall between 48-72 months, with longer financing terms resulting in lower payments.
We’ve worked with countless customers with all kinds of credit to help them discover their financing options.
In most cases, we can offer financing with no down payment. We can also roll taxes, registration, and fees into the financing deal if that works best for you.
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Directions to Heritage Valley Ford - Putnam
Heritage Valley Ford - Putnam is located at 3 Park Road, Putnam, CT 06260.
- Near the Quinebaug River
- Down the street from Windham Container Corporation and Sonoco Protection Solutions
- We're right off of Route 395. At the end of the offramp, take a left and we're right there!
Heritage Valley Ford - Putnam
3 Park Rd
Putnam, CT 06260
Directions to Heritage Valley Ford - Brooklyn
Heritage Valley Ford - Brooklyn is located at 455 Providence Road, Brooklyn, CT 06234.
- We're right next to a Dunkin' and across the street from a Walmart Supercenter
- Down the street from a Quiet Corner Inn and Mobile gas station
- Find us off of Route 6
Heritage Valley Ford - Brooklyn
455 Providence
Brooklyn, CT 06234