Used Car Financing FAQs
Lochmandy Ford of Knox: Used Car Financing FAQs
Buying a used car can be a daunting experience, especially when it comes to financing, but here at Lochmandy Ford of Knox, we’ve taken the mystery out of the process. Take a look at our used car financing FAQs to learn some key facts related to auto financing. Whether you want to know about interest rates or you are curious about how to finance a used car, we can help.
Chat with the team at our Ford dealership near Michigan City to get answer to any questions you still have about the used car financing process. We’ll explain every detail, so you know what’s involved when you finance a used car in Indiana!
Used Car FAQs
What is a good interest rate for a used car loan?
A good interest rate on a used car loan will be dependent upon the current market and economy, which plays a role in the interest rates set. Interest rates will also vary based on the term length you choose as well as your own personal credit score and payment history. A “good” interest rate on a used car loan is different for each person based on their credit report, the type of car they’re buying and other factors.
Does inflation impact interest rates on used car loans?
Yes, inflation impacts the current interest rates on anything you finance — whether that be a home, a car or another major purchase. Speak with our Ford finance specialists about our current used car loan interest rates, APR offerings and other incentives. We’ll explain the fluctuations in interest rates and how inflation plays a role.
Can I finance a used car with bad credit?
Yes! You can absolutely finance a car with bad credit, or even no credit. So, if your finances are recovering after a difficult time or you are just starting to build your credit for the first time, our Ford finance team can assist. Learn more about our subprime financing solutions, which may be the perfect plan for your budgetary needs!
How do I apply for financing online?
It’s easy to apply for financing online when you work with our local Ford dealer. Simply complete the credit application and see what types of rates you qualify for. Once you’ve found the used Escape SUV or pre-owned pickup you want most, our team will help you shop up rates on used car loans and pick out the best terms for you.
Secure Used Car Financing in Indiana
Have further questions about how to apply for financing or what a good interest rate is on a car loan? Contact Lochmandy Ford of Knox and we’ll set you up with a great payment plan on the pre-owned F-150 or used SUV you love.