Unique Ford Finance Center in Goffstown, NH

What Does Financing a Vehicle Involve?

When you finance a vehicle, you take out a loan to cover the cost of the vehicle, minus any down payment. You then pay back the loan in monthly installments over an agreed-upon loan term, which is typically 36-84 months. Loan payments consist of principal (the amount borrowed) plus interest charges.

Interest rates vary based on factors like your credit score, loan term, vehicle type, and down payment. The higher your credit score, the lower your interest rate may be. Making a larger down payment can also help secure a lower interest rate. Our neighbors in Dunbarton can get pre-approved for financing online to see their estimated terms before visiting the dealership.

How Does Vehicle Leasing Work?

Leasing is a popular alternative to traditional financing. When you lease, you agree to make payments for a set period of time, typically 24-36 months. Monthly lease payments are often lower than loan payments, since you're only paying for the vehicle's depreciation during the lease term rather than the full purchase price.

At the end of the lease, you have the option to purchase the vehicle or return it to the dealership. Leasing can be a great choice if you prefer driving a new vehicle every few years and want lower monthly payments. Many of our customers in Bedford choose to lease their Ford vehicles.