While buying a new Ford is an exciting experience, financing it is not always the most seamless process. Going through your local dealership for financing can make things easier, eliminating the hassle associated with bank and credit union financing. Let’s look at why you should get car financing at your local Ford dealer.
5 Benefits of Getting Car Financing at Your Ford Dealer
1. Unmatched Convenience and Flexibility
Applying for Ford financing at the dealership is incredibly convenient. You don’t have to shop around for lenders or worry about being limited to dealerships within the bank’s network. You can focus your search on the vehicle while the dealership handles the financing on your behalf.
Unlike with banks, you don’t have to wait a week or more to get your loan processed and approved at the dealership. The entire process can take anywhere from a few hours to a few days, which allows you to purchase and drive the car immediately.
2. Poor Credit Isn’t a Deterrence
The requirement for a good credit score locks out a lot of people from bank financing. With dealership financing, a low credit score won’t deter you from getting your dream car. Dealers have lower credit requirements than banks and credit unions, which allows buyers with poor credit to access loans. The dealer will work to find a financing plan that fits your credit profile and needs.
3. Shorter-Term Loans Available
Banks and credit unions usually offer longer-term auto loans of up to 84 months. While this may seem attractive due to the low monthly payment, you will end up paying more money in interest.
Your local dealer offers the option of much shorter loan terms: as little as 12 months. This reduces the interest you pay over the life of the loan. Short-term loans also allow you to build your credit faster and upgrade your vehicle sooner.
4. Excellent Trade-In Value
Trading in your old vehicle is a great way to reduce the amount you need to finance your new Ford. Dealers offer very competitive trade-in values to put towards your new vehicle. You can get an appraisal done on-site to get an estimate of your trade-in value. Having your dealer handle the trade-in simplifies the financing process, as the funds from the trade-in go directly toward your new Ford.
5. Convenient Service Scheduling
Getting your Ford financed at the dealership affords you faster service, including the convenience of scheduling maintenance and routine repairs. This ensures you don’t miss any crucial services like oil changes, brake service, tire alignment, and battery checks. You may also receive maintenance incentives as part of your financing agreement with the dealer.
Avoid the hassle of shopping for lenders and get everything done at your local dealership. Come talk to us at Kory Hooks Ford if you are ready for a new ride. Our finance team will work with you to find the right finance program that suits your needs.
