leasing and get help determining what is right for you. Educational resources: You can read up on buying vs.The checklist includes additional tools to help you figure out your car budget and estimate future maintenance costs, such as roadside assistance and how to schedule service on your vehicle. Dealer checklist: A helpful list of things to do that can help you research before you go into a Ford dealership.This can speed up the process and give you an idea of what to expect. Credit application: You can get pre-approved for a loan before you head to the dealer.Payment calculator: Use the calculator to get an idea of how much you can afford, as well as get a preview of promotions and incentives.While the Ford Credit website is a little hard to navigate, it does come with some helpful tools that include: Taking care of the loan plus the purchase of the car at the same time can be fast and easy. The biggest benefit of using Ford Credit for your auto loan financing is the convenience. Limitsįord Credit doesn’t list explicit financing limits on its website, although how much you’re able to borrow will depend on your credit history, debt-to-income ratio, and other factors. There might be other fees associated with your car through dealer financing, such as destination charges or dealer preparation fees, so be sure to review the bill of sale in full before signing on the dotted line. Other charges might apply at lease end, though, such as mileage penalties and wear-and-tear fees. Meanwhile, Ford’s Red Carpet Lease program comes with separate payment terms and advantages for example, you don’t have to worry about trade-in value when leasing a Ford vehicle. The smaller your monthly payment, the longer your loan term will be. When you visit the dealer, you’ll get a loan offer based on your credit and, in many cases, your preferred monthly payment. In general, terms on auto loans range from 24 months to 84 months (and sometimes longer). Interest rates could be higher than that, though, depending on your credit and other factors. For Certified Pre-Owned cars, though, the promotion started at 4.49% APR for 60 months. The type of car you buy, whether it’s new or used, and your own credit history all help determine what you end up with for an interest rate.įor example, as of this writing, financing incentives on a Ford Fiesta for qualified buyers included 0% APR for 66 months through Ford Credit. Interest rates vary based on a number of factors. Here are some of the basics: Interest Rates Loans can be funded as soon as the day you applyīasic Information: Rates, Terms, Fees, & Limitsīefore you move forward, it’s important to understand how Ford operates when it comes to financing.You don’t need exceptional credit to get an auto loan, although you won’t have access to the best deals and promotions unless you have good credit. You can buy a new or used car using dealer financing. Other than that requirement, it’s fairly simple to get qualified for an auto loan. While you can look online and get a feel for what’s available and do some initial research, you need to complete your transaction through a Ford dealer. Taking Out a Loan or Lease with Ford Creditįirst of all, if you want financing or a lease agreement through Ford Credit, you need to visit an authorized Ford dealer.
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