Navigating Car Financing Options at Your Ford Dealership

Navigating Car Financing Options at Your Ford Dealership

The two main types of car financing are leasing and buying. You can lease or buy a car from your local dealership. For many drivers, leasing a car is a more affordable option since a monthly car lease bill is lower than a monthly car payment. Leasing a vehicle also tends to have fewer car ownership costs since the vehicle will remain under warranty for the duration of the lease, especially if you are leasing a new Ford.

However, if you intend to use your vehicle for several years, and you don’t want yearly mileage limitations that come with a leased vehicle, purchasing your next Ford might be the better option. Your dealership finance department will work to find you a competitive loan with a low interest rate and hammer out a finance agreement that works with your budget and car ownership goals, such as a longer loan term for a lower monthly payment. 

What Do You Need When You’re Ready to Buy?

When you’re ready to buy a Ford, you will need to bring a few important documents to the dealership. These documents include valid auto insurance, a valid driver’s license, and proof of employment with a pay stub.

If you are trading in your current car when you buy your new one, you will also need to bring the vehicle title for your current vehicle. Vehicle service records, vehicle remotes, and vehicle keys should also be brought to the dealership when you are trading in your car. 

Why Should You Pre-Qualify for an Auto Loan?

Auto loan pre-approval is an essential step in your car buying process. Drivers who want to stick to a specific budget will often apply for loan pre-approval before looking at specific models since pre-qualification can provide insight into a driver’s buying power. Some applications may even factor in your down payment or trade-in valuation for a more accurate loan estimate.

With loan pre-approval, you can feel more confident when you visit the dealership since you know your budget. Loan pre-approval may even encourage the dealership to match your estimated loan rates, especially if you submit a pre-qualification application on the dealership’s website. When you submit a loan pre-qualification application at your dealership, you will usually be approved in a few hours or days. Whether you lease or buy, your dealership can offer flexible finance arrangements that suit your unique financial situation. Get in touch with Valu Ford and Chrysler in Morris, MN to learn about your finance options today. 

Tags: Buy, Chrysler, Deals, Finance, Ford, Lease, New car, Purchase
Posted in Automotive, blog, Finance, Research, tips | No Comments »