How Does Car Financing Work?

Ford Credit app 

Ready to get behind the wheel of a brand-new Ford? Or would you prefer to drive a used model around Buffalo? Either way, you may be wondering, "How does car financing work?" Basil Ford is here to help you understand the process, so that you can come to our dealership for a stress-free and well-informed experience.

Choose Your Lender

After applying and determining that you have been approved for a loan, you may discover that you have a few different options on hand. Feel free to compare what we offer at Basil Ford to offers from banks or credit unions to determine what makes sense for your needs and budget. As you make these comparisons, figure out how much you can put down on the loan. Remember that you can always value your trade if you plan to get rid of a current vehicle. Also, calculate how much monthly payments will be. That way, you can drive away to Lancaster in confidence that you can definitely pay back your loan.

Finalize the Loan Terms

Before you finalize your loan and purchase a vehicle, you may need to negotiate on price and interest rates that work for you. Once you're comfortable and confident with the deal, you will sign the necessary paperwork, get behind the wheel, and drive home to Amherst behind the wheel of your new car.

Learn More About Car Financing at Basil Ford!

Get in touch with Basil Ford to learn more about the auto financing process, leasing vs. buying, and more. We're happy to help you get behind the wheel with a finance plan you can afford, as conveniently as possible!