Auto Financing Made Easy

Getting a car loan shouldn’t be difficult or frustrating. Our whole team at Ted Russell Ford Lincoln Kingston Pike work together to make the process of buying a car as stress-free as possible. Our financing experts will explain the best options available to you given your credit situation. We put in the extra work to get you the rate you deserve, regardless of your credit history.

Time and time again, our satisfied customers – many with credit challenges – tell us how easy and painless it was to get a car loan through our financing department. Of course, there are several factors that come into play with any auto loan, including:

1. Vehicle: The vehicle you select – make, model, year, cost – impacts the loan terms available to you and your interest rate.
2. Your Financial Situation: Income, length of employment, and length of time at residence
3. Credit History: Your credit, your income, your employment status, even how long you’ve lived in your current home. There are lots of aspects of your personal financial situation considered for your car loan.
4. Trade and Down Payment: Do you have a trade in? Great! A down payment? Both? Even better. The more you can put down in cash or trade, the easier it is to get you approved for a more favorable loan.

Don’t let the auto financing process stress you out. Our financing specialists will walk you through the whole thing, keeping you informed and finding the best options for your credit situation and budget.

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How Your Payment is Calculated

Once you’ve secured financing, there are three factors that go into determining your monthly payments:

1. The amount you’re borrowing
2. The length of time you’re borrowing for
3. Your annual percentage rate (APR)

How Your Payments Are Affected

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Credit Scores 101

All of us have a credit score that helps potential lenders determine how much of a financial risk it is to make a loan to us. The higher your credit score, the better, especially when you’re buying big ticket items like a home or a car, truck, SUV or crossover.

Your credit score can be anywhere from 350 to 850. Factors that go into determining your credit score include the number of active credit accounts open, your debt to income ratio and your payment history. The type of debt you carry, the number of hard credit inquiries in your recent history and any judgments or liens against you also affect your credit score.

When you make payments on time and keep your total debt proportionate to your income, your score improves. The better your credit score, the better terms you’ll be able to get for a loan.

Payments

If they’re made in a timely fashion and if you have a number of late payments.

Debt Load

How much debt you have and the type of debt.

Credit Accounts

How many open lines of credit do you have and how old are they.

Credit Inquiries

The number of recent hard credit inquiries shown in your credit history.

Public Records

Do you have any current judgments or liens in place.

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Less Than Perfect Credit? We Can Help

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Ted Russell Ford Lincoln Kingston Pike's Attractive Lease Options

Looking for a lower payment? Want to keep yourself in a late model, low mileage vehicle? Ted Russell Ford Lincoln has a variety of attractive leasing options. Speak with our leasing experts to find the perfect lease to meet your needs.