Ford Motor Credit Company LLC (Ford Credit) has been in business with its parent company, Ford Motors, since 1959. Ford Credit is concentrated on offering different loan and lease options to consumers who purchase from dealerships that sell Ford Motor Company products.

Ford Credit also is responsible for the lines of credit offered to Lincoln Automotive Financial Services for Lincoln vehicles.

Ford Credit's website is focused on educating consumers on the available financing options, suggesting available credit options, and referring consumers to their local Ford dealership.

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The Good

Financial Tools
Advantages
Additional Loan Options

Financial Tools

Ford Credit supplies basic online information to help you calculate the best loan option for your new Ford vehicle. They offer financial tools such as budget calculators, payment estimations, and credit tests. Ford Credit also offers articles that give you an overview of your financial needs so you can be informed when you visit a dealership.

Advantages

Online financing education available
Credit "test run" available to estimate ability to qualify before applying
Face-to-face advice from a dealership representative
Mobile account management
Online instant messaging customer service
Excellent customer service ratings
Extended service plans available

Additional Loan Options

Not only does Ford offer these great options, but you can add different options into your loan at the dealership. This means you can include aftermarket accessories, extended service plans, rustproofing, or sealant packages into the total amount financed. Additionally, Ford Credit offers an online pre-approval email so your trip to the dealership can be as quick as possible.

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The Bad

Loan Restrictions
Disadvantages
Lacks Money Management Software
Lack of Transparency

Loan Restrictions

First thing to keep in mind, if you are looking to qualify for a loan from Ford Credit you must purchase a vehicle from a certified Ford dealership. Additionally, Ford Credits website has a lot of information to prepare you for taking out a loan. However, no concrete loan information will be disclosed until you visit a Ford dealership.

Disadvantages

No online loan application
Acquisition Fee (dealership fee) is included in the vehicle purchase cost
No advertised promotional deals to help save a little extra money
Minimal payment information disclosed until you meet with a salesperson
No money management software

Lacks Money Management Software

Although Ford Credit offers a reliable credit option through Ford Motors, it lacks the money management software and other associated financial perks that a bank or credit union would supply. Your APR will depend on your experience at your local Ford dealership. Often times the sales environment of a dealership causes people to agree to loan options that might not be the best for them.

Lack of Transparency

Ford Credit is missing a great deal of information on their website. It is difficult for potential customers to make a decision based on the lack of information given on the website. It is also difficult for our team to rank their services in the industry. We would like to see more information regarding possible APRs, loan terms, loan amounts, application fees, and etc.

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The Bottom Line

Ford Credit has some great advantages such as their financial tools, and great customer service. However, their total lack of transparency, and loan restrictions causes us some concern. We would like to see Ford Credit be more up-front about their APR, loan terms, loan amounts, and application fees. For these reasons, we do not recommend using Ford Credit at this time.

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User Reviews

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2.9

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117 Reviews

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George Elder Colorado Springs, CO

I have been a customer of Ford Credit for decades, with no issues. I have at leased purchased 7 vehicles using ford Credit and paid them off without a hitch. This is all listed on my credit report. The last time I went to Ford Credit to purchase another vehicle, which I paid off the previous loan with no issues but Ford Credit turned me down because they only look at Experian credit score. Wow! I don't really get the FICO score process because all my credit for autos are stellar. I have an issue for two credit cards only, which are old 7 years are better. It brings down my score. Shame on you Ford for only looking at Experian credit score. When I went to purchase a Mercedes I had the same auto score but Mercedes Finance is extremely loyal and how you been with them. They approved my loan without batting an eye even though my FICO score was low. The credit companies have too much power. A person is not just a FICO score but much more. Look at the whole picture Ford and make your determination. I will not use Ford Credit again!

3 years ago

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Brian Alger, OH

I'm currently leasing a 2018 Ford f-150. I have 12 payments left out of a 3 year lease. I no longer have a need for the truck, it just sits in my driveway. My family currently is in need of a minivan. Ford doesn't offer a minivan. Unless you look at the transit connect...(ugly). I went to the Honda dealership to look at a Odyssey. Worked out numbers and I gave them my pay off. Salesman had to call Ford credit, to get the dealership payoff. The foreign lady on the phone, stated that Ford no longer allows outside dealership's to purchase a lease vehicle. She said I had to take it back to the Ford dealership I leased it from. Huh?? My salesman was shocked! He said he has never heard of a finance company, that tells you who can purchase your vehicle. My salesman and sale's manager, explained to her they were willing to pay off the vehicle, to purchase it. She said Ford will not allow it! She was rude and Nasty with all 3 of us! I'm going to continue to let the truck sit in the driveway, till my lease is up. Only 12 more months! Then I will go purchase my new Honda Odyssey! I will never buy/lease another Ford again! To tell a customer that another auto brand can't purchase your lease vehicle, is just absurd! Honda said that is very poor customer service on Ford. It shouldn't matter who purchased the vehicle. Honda says it sounds like FORD has turned to DESPERATION and COMMUNISM. .......I'm very disappointed with FORD! IT WON'T HAPPEN AGAIN!

5 years ago

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First time

Customer service. Have spoken to CS multiple times over a returned check fre and have yet to get an answer

6 years ago