Financing is often the best option for someone looking to buy a car, as it lets you get a great vehicle without having to put up a lot of money. For many people, however, financing can be a little confusing.
Our Ford financing experts get a lot of questions from customers about how financing works, which is why we’ve compiled these frequently asked questions to provide further information.
Q: Can you finance a pre-owned vehicle?
A: There’s a common misconception that only new cars can be financed. The truth is that you can finance pretty much any vehicle. In fact, financing a pre-owned car could be your most cost-efficient option, as it may result in very low monthly payments.
Q: How important is credit?
A: When you finance a vehicle, you borrow money from a lender, and that lender charges you a fee that comes in the form of interest. To determine what your rate will be, one of the factors we’ll look at is your credit score. If your score is good, you should be able to get a lower interest rate. But no matter what your score is, we’ll help you get a loan you can afford.
Q: How long does the financing process take?
A: The financing process can take some time, but the good news is that you can begin right now. The first step is to fill out our online application. This will get you pre-approved for a loan in no time. Once submitted, one of our financing professionals will contact you to go over your loan term, down payment, and other details.
Any More Financing Questions?
Please get in touch with Lester Glenn Ford near Toms River if you have any other questions or concerns about financing. We’ll also gladly tell you about any of the cars we have in stock, including the 2020 Ford Explorer.