Ford Financing FAQ with Woodhouse Ford of Blair

February 13th, 2021 by

Our Ford financing team works with buyers from all walks of life with different amounts of experience in financing. Don’t let concerns about the process get you down. We are here to answer all your questions and give you a pleasant car-shopping experience at Woodhouse Ford of Blair.

Question: What’s my credit score needed for?

Answer: When you apply for financing, your credit score, credit history, and income information are all factors that can be used to determine how much you can borrow. These factors can also impact your interest rate, down payment, and more because they show how reliable you are with paying back loans and how much monthly income you have to do so.

Question: Should I finance the maximum amount I qualify for?
Answer: Generally, no. If you have good credit, you may qualify to buy a vehicle that’s actually more expensive than what you can comfortably afford to pay per month.

It’s better to take a look at your monthly budget and determine what is comfortable for you to pay rather than simply going for the biggest purchase.

Question: Will I need a down payment?

Answer: Down payments aren’t always required, but they are always a good idea. Even with really good credit, down payments can help pay off your car faster and help you get past that “upside-down” point in the loan. Even just ten or twenty percent down can make a huge difference.

Visit our Ford dealership in Blair today online or in-person to begin narrowing down your top options for your next new or pre-owned Ford vehicle. We look forward to working with you.

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