Ford motors offer several flexible financing options for its customers including a zero percent (0%) financing program.
These programs are available for new, used, and pre-owned vehicles. Customers can buy vehicles through a credit program or lease them conveniently directly through Ford or its authorized dealers.
Let us discuss what are Ford’s credit options and if there is a 0% financing plan available.
What Does Ford Offer?
Ford is one of the leading car brands in the world. It is known for quality cars, trucks, crossovers, and sports vehicles around the world.
Ford Motor Company informally known as Ford was founded in 1903. Its headquarters is in Michigan, United States.
Ford has its presence around the world and it sells a wide range of vehicles in all parts. The company also bought and sold a few other automobile brands in the past.
For instance, Ford owned Jaguar and Land Rover’s UK chapters for a few years which were then sold to the Indian automobile company TATA motors in 2008.
A few lines of production for Ford motors include:
- Automobiles (personal cars)
- Luxury Cars
- Sports Cars
- Pickup Trucks
- Commercial Vehicles
- Automotive Parts
Ford has a wide range of models for all of the vehicle categories mentioned above.
A few of the current vehicle series (models) at Ford’s US segment on offer include:
- Eco Sport
- Super Duty
- Transit Connect
- Chasis CAB
Ford also offers a wide range of other vehicles depending on your geographical location. Also, the finance and credit offers would differ for each country or region.
Does Ford Offer Zero Percent (0%) Financing?
Ford offers zero percent (0%) financing options on a few selected vehicles. It offers competitive interest rates on several vehicles.
Ford financing is available for new, pre-certified, or used cars. Additionally, customers can look for local car dealers and banks to obtain financing deals for their preferred vehicle.
Ford offers its 0% financing options in several locations. On top of that, it offers zero down payment on selected models as well.
Ford also offers other incentives and cash rewards in different locations and through different dealership offers.
Some of the vehicles available at Ford US with 0% financing currently include:
- Ford Mustang 0% financing for 60 months
- Eco Sport 0% financing for 60 months
- Edge 0% financing for 60 months
- Ford Escape 0% financing for 60 months
Apart from 0% financing, there are a few models with very low-interest rates on offer from Ford US.
- Ford F-150 at 0.9% financing for 60 months
- Bronco Sport at 2.9% financing for 60 months
The interest rate and down payments are for purchased vehicles. The leased vehicle offers come with different interest rates and eligibility criteria.
Ford Financing Options in the US
The Ford US segment offers several financing options for new, used, and certified preowned vehicles directly and through its partners located in different areas.
The financing rates, down payment, and eligibility requirements are similar for direct financing through Ford. These conditions can change for different locations and dealers.
Requirement for Ford Financing
Customers can apply for Ford financing directly through its online portal. Early approval of the online application can be within a few minutes.
A few documents and information required to apply for online credit at Ford include:
- Social Security Number
- Date of Birth
- Employment status and/or annual income
- Address and whether you own or rent
- Monthly mortgage or rent
- Email address
Note: Additionally, you’ll need to fulfill the credit score requirements for online application approval. There is no mention of a minimum credit score requirement on Ford’s online portal. However, you can expect approval for a good credit score of 680+.
Let us discuss different financing options at the Ford US segment.
The standard purchase program offers financing options ranging from 12 to 84-months. Customers can build equity when they make monthly installments.
It means with each payment; customers can accumulate vehicle equity that can be used for refinancing or purchasing a new Ford vehicle.
The standard purchase program is available for new, used, and pre-owned certified vehicles. Some key features of the standard purchase program include:
- No mileage limitations for the customers
- Each monthly payment builds equity for the borrower
- The borrower owns the vehicle at the end of the credit term
- Freedom to customize the vehicle as per choice
- Offer available for new, used, and pre-owned vehicles
- Credit terms range from 12 to 84 months
- The borrower is responsible for car maintenance throughout the credit term
Flex Buy Program
Flex buy program is a flexible financing option offered by Ford. It offers lower monthly installments for the first 36 months of the credit term with a 15% or 18% discount.
Later, the borrower can make higher payments to cover the full financing costs. The credit term is for 66- or 75-months.
So, it comes with only two credit term choices but also with two discount choices for the first 36 months if you feel tight on your budget in the beginning.
Most of the other features of this program are similar to the standard purchase plan.
- Unlimited mileage option
- Choice of vehicle customization
- Lower monthly installments for the first 36 months
- Two options for the credit term and discounts
- Financing offered for new vehicles only
- The borrower owns the vehicle at the end of the credit term and the monthly installment payments cover the full cost of the vehicle.
Red Carpet Lease
The leasing option is for customers who do not wish to own the vehicle or cannot afford the down payment initially. Red carpet lease is an easy and convenient lease program offered by Ford.
The lessee has different mileage options and can renew the lease at the lease-end term.
Here are a few key features of the red-carpet lease program:
- Different mileage range options
- Multiple lease terms for 24-, 36-, and 39-months
- Low initial costs and monthly installments as compared to credit plans
- Option to renew the lease, termination, or buying a vehicle at the lease-end
- Monthly payments only cover the lease payments
- The lessee is responsible for significant wear and tear of the vehicle
The trade-in value program lets car owners sell their old ones for new purchases. Car owners can trade their old cars and settle the price for the new ones.
Car owners can sell their Ford vehicles privately or through a dealer. However, when they choose a dealer, they can quickly complete the process and purchase the new vehicle easily.
Dealers would estimate the current fair price of the vehicle by inspecting mileage, body, engine, and other key features. They’ll then offer car owners an estimated fair market value.
The difference between the estimated price and the new vehicle price would be covered by the customer.
Ford Dealership Offers and Incentives
Another option for Ford customers is to check offers and incentives offered by automobile dealers.
These offers and incentives can be in conjunction with Ford plans or offered separately.
For instance, the US news automobile program offers 0% financing on different Ford models. It also offers flexible payment options with low down payment requirements.
The credit score requirements and credit application approval criteria would also be different at Ford dealer locations and third-party creditors.