What is Ford Credit?

Financing a car can be complicated, but Ford Credit is here to help. More than just Ford financing, Ford Credit is the program that our Bloomington drivers use to manage their loans and learn more about auto financing. While the Sam Leman Ford finance team is always here to help, this guide is here to answer the most common questions about the finance process, from credit checks to long-term ownership.

Credit Basics

Whether you have good credit, bad credit, or no credit, the Sam Leman Ford finance team will work with you one-on-one to find the best way to put you behind the wheel of your next vehicle. The most important thing to know about credit is that while good credit is good to have, less-than-ideal credit rarely stops Normal drivers from receiving financing toward their next new or used vehicle, such as the used Ford Escape.

Financing Your Vehicle

Should I Buy or Lease?

There’s no right or wrong answer when deciding to buy or lease your next vehicle. Though many drivers expect to take out a car loan, pay it off, and own a new Mustang or F-150, there are others who want to stay behind the wheel of the latest vehicles with a lease. Leases can also be easier on a monthly budget while auto loans are a long-term investment.

The Trade-In

If you’re looking to trade your vehicle in, the first thing you should do is get an idea of what it’s worth. After you value your trade-in, you can start planning toward your next new or used vehicle. Bear in mind that all trade-in calculators are just estimators — some dealerships will offer more than the estimation and some less, and it will always require an inspection to ensure the car is in top shape.

Budgeting For Your New Car

Once you have an idea for your trade-in, you can calculate your monthly payment based on how much you expect to need to borrow to drive home your next car. Of course, if you’re going to budget properly, you’ll want to estimate your car insurance and start putting some money aside for both expected maintenance and unexpected repairs.

Dealership Experience

What to Know Before You Go

• Visiting the dealership for your test drive can be exciting, but you should go in prepared. If you’re planning to buy — or even considering it — you should probably apply for financing ahead of time to cut down on paperwork.
• Know your budget, including an upper end and a lower end. Just because you might qualify for financing on a vehicle out of your budget doesn’t mean you should drive it home.
• Have an idea of what features are essential. If you’re buying a used car, is Bluetooth a necessity or can you shop for older models? What about advanced safety tech? Some of these features might cost you more, even on a new car — know what your hard lines are.
• Ask ahead of time what documentation they’ll require (you’ll definitely need to bring a driver’s license, though).

After You Sign

Managing Your Account

If you’ve signed on for Ford Credit, you can manage your account online. There, you can sign up for automatic payments, go paperless, update your profile, and learn more about your auto loan or lease.

Things to Know About Lease-End

While most drivers are clear on what happens when a finance agreement is finished, the end of a lease is a little different. When a lease ends, you typically have three options:

• Purchase your leased vehicle outright
• Return your leased vehicle and begin a new lease on a new model
• Return your leased vehicle without leasing or purchasing a vehicle

Learn More at Sam Leman Ford

If you still have questions about Ford financing, we want to help. Contact us today to learn more and to see why drivers from Decatur and Champaign visit Sam Leman Ford when they’re looking for a new Ford Mustang GT or any other Ford model. If you’re in the process of purchasing a new or certified pre-owned Ford, remember to read up on Ford warranty coverage and options and Ford Roadside Assistance – available on new Ford models for five years or 60,000 miles.