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Financing a vehicle doesn’t have to be nerve-wracking or expensive. It’s just a matter of filling out a credit application and then seeing what lenders offer you in the way of financing terms. Your local Ford dealer can help you arrange car financing, making it even easier.
1. Little Upfront Cost
When you finance a vehicle, you don’t have to pay for it upfront. Most buyers make a down payment on the vehicle, but a down payment involves much less of an outlay than paying cash for the vehicle all at once. Because you’ll only be making a down payment, you don’t have to wait until you’ve saved up the full purchase price of the vehicle. Financing allows you to drive home a new set of wheels now.
2. Access to a Better Car
If you’re financing a vehicle, you can purchase the car or truck want, regardless of how much it costs. So if you want to purchase a vehicle with an upgraded trim level, or if you want to add extra amenities like Bluetooth or a sunroof, you can do it.
Those extras typically increase the price of the vehicle, but if you’re financing, you don’t have to worry about having cash on hand to pay for everything right away. Those amenities will just be folded into the amount you’re financing.
3. Preserve Your Savings
Financing makes it possible to purchase a new vehicle without completely depleting your savings. That can be good because having cash on hand usually means you’re better able to navigate emergencies and unplanned expenses. Depending on how much cash you have, you might even decide to invest it in a CD, stocks, or bonds.
4. Improved Credit Score
If you have a low credit score, we can still work with you to arrange financing. And if you make all of your payments on time and pay off the debt, you’ll walk away from the arrangement with improved credit. That’s because you’ll have proved to lenders that you’re a responsible borrower who can be trusted to pay debt back.
5. Flexible Repayment
Just because you’ve financed your vehicle doesn’t mean you need to use the whole borrowing term to pay it back. You can make the minimum monthly payments as long as you need to, but if you eventually want to pay off the balance due all at once, you can. You can also chip away at the amount you owe by paying more than the minimum each month.
If you’re about to purchase a vehicle, you may arrange a financing package that works to your advantage. When you’re ready to finance your next car or truck, head to Tri-County Ford.
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