Expert Ford Financing FAQs
Looking to buy a new car? Here's a not-so-well-kept secret that Jack Gooch, Sales Associate, and the rest of the Owen Ford team wants you to know: today's Ford credit and borrowing options make it exceptionally easy to trade up for little to no money down.
While financing a new Ford might sound daunting if you're not familiar with how car loans work, it's something our experts know inside and out -- and now they are sharing the answers to some of the most commonly asked questions they hear every day. Read through these FAQs, then follow up directly with our team to see how you can take home an Escape or Expedition for a monthly payment you'll love.
Ford Financing FAQs
What is the minimum credit score for Ford financing?
Even buyers with low credit scores may be able to qualify for select Ford financing options. If you're not sure if you'll qualify for a new car loan, just reach out to our team. We'll help you apply for Ford credit and see what all your options are.
What is the latest interest rate for Ford financing?
Today's Ford financing interest rates will depend on multiple factors such as our promotional offers, your credit score, your preferred loan term and other individual financial criteria. It's best to check with Ford Credit or a local Ford dealership for the most current rates.
Does Ford have zero APR?
Ford does offer sometimes zero APR financing plans, and you can check our new Ford specials to see if any such offers are currently available. If you find a 0% APR Ford incentive you'd like to claim, just apply for Ford financing online to begin the pre-approval process.
Does Ford finance for 84 months?
Yes, Ford does offer 84-month financing options for some new Ford models. However, it's important to consider that longer loan terms can result in higher overall interest payments, even if the monthly payments are lower.
Will loan interest rates go down soon?
Interest rates depend on economic trends, Federal Reserve policies and other factors that are difficult to predict. Your best bet? Don't assume interest rates will go up or down in the future -- instead, plan for your financial future based on the factors you know and can control.
Can you refinance with Ford credit?
Yes, you can refinance a car loan with Ford Credit or other financial institutions. Refinancing could help lower your interest rate or monthly payments, but it's important to review all the terms in your agreement and ensure you're aware of any associated fees that may be triggered when you refinance.
Can I pay off my Ford finance loan early?
Ask our team to see if your loan terms allow you to pay off your Ford finance loan early without incurring a penalty. If it's allowed by your financing agreement, this is a great strategy to eliminate your debt now and minimize how much interest you ultimately pay on your loan.
What is a good interest rate on a 72-month car loan?
A good interest rate on a 72-month car loan can vary based on your credit score and market conditions. Generally, a rate between 3% and 5% is considered good for buyers with excellent credit. Rates above 6% may be common for those with lower credit scores.
These FAQs cover a lot of ground, but they aren't the only questions Jack and the rest our team get about new car loans. If you'd like to learn more about the auto financing process or have questions specific to your situation, feel free to contact Owen Ford. As your local Ford dealer, we have all the answers you're looking for when it comes to getting more car for less money with the help of today's most exciting Ford loan and lease options.