How To Get Financed On a New Car In 2025
How To Get Financed On a New Car In 2025
*Disclaimer: This article provides general information and should not be considered financial advice. For personalized guidance, please consult a financial advisor.
How your credit may affect financing
Your credit score plays a big role in getting approved for auto financing—it affects not just whether you qualify, but also your interest rate and loan terms. Lenders use it to gauge risk, meaning the higher you score, the better your loan options.
Common Credit Score Ranges:
- Excellent (800-850): Best rates and easiest approvals.
- Very Good (740-799): Competitive loan terms.
- Good (670-739): Standard interest rates.
- Fair (580-669): Higher interest rates, but options still available.
- Poor (300-579): Limited financing options, often with high interest rates.
Can I get financing with low credit?
Yes, you can still get financed with low credit—it just might take a little extra effort. Ford Credit looks beyond just your score and considers things like your income, employment history, and debt-to-income ratio.
You could improve your chances by:
- Getting a Co-Signer – A co-signer with good credit can help you qualify for a better loan.
- Making a Larger Down Payment – A bigger down payment reduces the loan amount, making approval easier.
- Looking for Special Programs – Some dealerships offer financing programs designed ofr people with lower credit scores.
Common Ford Financing Offers
Ford regularly offers special financing deals to help buyers save money, including:
- Low APR Financing – Qualified buyers can get lower interest rates.
- Cash Rebates – Discounts applied directly to the vehicle price.
- Lease Specials – Lower monthly payments for those who prefer leasing.
As of February 2025, Ford is offering 0% APR financing for 36 months on select 2024 models like the Escape, Mustang Mach-E, and F-150.
How does financing with Ford work?
Getting financed through Ford Credit is pretty straightforward:
- Pre-qualification – Check your eligibility without affecting your credit score.
- Apply for financing – Submit your application online or at a Ford dealership.
- Review your offers – Get loan terms based on your credit profile.
- Pick your vehicle – Choose your Ford within the approved financing terms.
- Sign &s; Drive – Complete the paperwork and then you’ll be able to hit the road in your new car!
FAQs
What is the Ford $7,500 Tax Credit?
The Federal government offers a tax credit of up to $7,500 for qualifying electric vehicles (EVs)> Some Ford models, like the F-150 Lightning, are eligible. This credit reduces your tax liability, lowering the overall cost of the car.
How Can the Tax Credit Help with Financing?
Since the credit lowers the total vehicle cost, it can also:
- Reduce the loan amount needed (helpful if you have low credit).
- Lower your monthly payments if the credit is applied upfront at the dealership.
Can I Get Ford Financing with Bad Credit?
Yes, Ford Credit and dealerships offer programs to help people with less-than-perfect credit. Bringing extra documentation—like proof of steady income and a down payment—can boost your chance.
What Factors Besides Credit Affect My Loan?
- Your income &s; job history – Stability matters.
- Debt-to-income ratio – Less debt = better approval odds.
- Down payment amount – More upfront cash helps get better terms.
Financing a car in 2025 doesn’t have to be overwhelming—even if your credit isn’t perfect. By understanding how credit affects loans, exploring Ford’s financing options, and taking advantage of the $7,500 EV tax credit, you can get a great deal on your next vehicle.