Ford Credit

• 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.

• 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.