Car Loan Interest Rates
Typically, securing the lowest interest rate on a car loan that you can is the best way to go. Not sure what interest rates you qualify for on an auto loan? Speak with the auto finance experts at our Ford dealership near Inverness and we'll help you navigate the entire car-buying process. We'll explain essential financing terms like APR and loan term, and we'll show you what factors play into your credit score.
Trust the knowledgeable team at Jenkins Ford of Crystal River to help you buy or lease a Ford pickup or SUV at a price that works with your budget. We'll help you compare used car loans and review whether to buy vs. lease a Ford based on your monthly payments.
Is It Hard to Get Ford Financing?
Getting Ford financing largely depends on your credit score. If you have a good credit score, which is typically above a 650, you can usually qualify for Ford financing. Payment history, debt type, loan duration and the number of "hard checks" on your credit all play into your overall credit score.
Not sure what your credit score is? Use our credit estimator to get an idea of your score and the interest rates you may be able to qualify for.
What Is the Best Way to Finance a Car Right Now?
You can work with a bank, a credit union or a dealership to get an auto loan, but the best way to finance a car will depend on the loan terms and interest rate you can claim. See who offers you the lowest interest rate with the best loan term length, so you can enjoy lower monthly payments.
Coming to the table with a down payment? You can often get better interest rates when making a higher down payment because lenders will then view your purchase as lower risk. In other words, the more invested you are in the vehicle, the better the rates will be.
What Is a Good APR?
The Annual Percentage Rate (APR) is the cost of financing on an annualized scale, so you want to get the lowest APR you can qualify for. The lower the APR on an auto loan, the lower your interest payments will be. This often means you can pay down the principal and pay off the loan faster. It usually means that your monthly payments will be lower as well. Apply for financing at Jenkins Ford of Crystal River to get started!
Contact Jenkins Ford of Crystal River to learn more about auto financing and how to qualify for a low interest rate on a car loan. We'll help you choose the best payment plan for your lifestyle and answer any other questions you have about the car financing process!