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5 Things To Know Before Financing Your Ford Car

5 Things To Know Before Financing Your Ford Vehicle

Are you thinking about buying a Ford? Whether you’re a first-time buyer, looking to switch to Ford’s catalog, or wanting to switch from your old ford car to an upgrade with some ford accessories, understanding your finances can save you from financial pitfalls.

So, if you’re looking at a new Ford F-150 or the Ford Escape, here are five things you need to know before financing a car.

1: Understanding Your Credit Score

Your credit plays a crucial role in the financing process as it determines what interest rates you’ll have.

Generally, a low score means higher interest rates, meaning you’ll pay more in the long run, unlike high credit with smaller interest payments.

If your credit score hinders your interest, you can raise the report and apply afterward. For example, Capitol Ford knows past credit mishaps can keep you from your dream Ford, so our dealership will work with you to rebuild your credit with a loan you’ll love.

Also, you can pre-qualify for Ford with a zero credit impact, understand your rates, and help streamline the financing process before you step into our dealership!

2: Build and Know Your Budget

Another thing you should know before financing a car is how to build your budget. Knowing how much you can put towards your Ford helps refine your search to model and feature-specific.

Moreover, with a budget, you can set aside expenses like fuel, maintenance, insurance, registration, and monthly costs to ensure you don’t miss a payment!

Ford has a payment option, "Flex Buy,” that focuses on lower costs for the first three years. Flex Buy drops your first 36 months of payments to 15% or 18% with no mileage limit, allows you to build equity, and allows you to customize your vehicle.

3: Shop Around For Your Loans

Knowing how to shop for your loans is a fantastic thing to look out for. Don’t settle for the first one that comes your way; take your time to look around and compare your offers.

Banks, credit unions, dealerships, and more all offer multiple loans with various terms, conditions, and rates.

Shopping for loans could save you from high rates, longer loan terms, additional fees, and more. So, don’t be afraid to compare offers until you find one that suits your financial situation. Also, Ford offers various financing deals through its Ford Financing website.

4: Save For a Down Payment and Do Market Research

When you decide to finance, some require a 10%-20% down payment, while others don’t. However, putting as much money upfront as possible shows the dealer you mean business, you lower the risk of default, and you could lower your monthly payment and rate.

Also, if you plan to trade in your old car for a Ford, market research will tell you how much your current vehicle is worth and give you a starting point for negotiations. Ford provides a convenient car payment calculator, allowing you to gain insights into your potential payment structure.

5: Read and Understanding Your Loan

Before you drive off into the sunset with your Ford, ensure you read and understand everything your car loan says. Check over the terms, monthly payments, interest rates, and anything else that could get lost in the paperwork.

Understand all the terms outlined before you to avoid any surprises down the road. If you have any concerns or questions, don’t be afraid to ask!

Capitol Ford Finance

When you want to finance your Ford, Capitol Ford’s fantastic financial team makes things easy.

We offer:

  • Extended Warranty Programs

  • Competitive Rates from Local Banks

  • Quick Approvals

  • And More!

Our finance managers work with all types of credit to get you in the Ford vehicle you love!

What You Need To Know Before Financing a Car

Financing your Ford starts with knowing your credit score, creating a budget, comparing offers, saving for a down payment, and understanding your loan. With these steps, you can achieve your goal of driving off in a Ford you’ll love!

For more information, contact Capitol Ford in Santa Fe, NM!


Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, and license charges. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, license, and a $419 documentation fee. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.