So, you have decided to get yourself a brand new set of wheels and you are probably all excited about it. The best part is, you already know which one you want, so there is no need for you to spend a lot of time searching. Basically, you can get the keys much sooner than you might have thought when you first started contemplating the idea of getting a new Ford. Yes, the fact that you are here tells me that you want to get a Ford.
Does the fact that you know which vehicle you want to buy mean that you won’t need to be too careful during your purchase, though? Well, it most definitely doesn’t, especially if you don’t have the cash and need to get a loan to make this purchase. Getting a loan might not seem like a complicated concept, but it certainly can be if you are planning to get the best deal. Speaking of best deals, have you ever considered trying to find Ford 0% APR deals and getting your loan without having to stress about the interest rate?
I know that this might sound a bit weird and confusing for you, but the reality of the matter is that you may be eligible for such a loan. Just think about it for a moment. Instead of paying off an enormous interest rate, you can find an annual percentage rate as low as 0%. Not 2%, not 1%, but 0% – it doesn’t get much better than that, does it? Well, not unless you want your lender to owe something to you, which is certainly impossible.
When you first hear about the Ford 0% APR deals, you will probably get all excited and ready to grab such an opportunity. Here’s the thing, though. What makes you so sure that you are qualified for it? That’s something that you will need to check before contacting any lenders and trying to get this amazing deal. So, let me explain how it works.
Are You Qualified?
First things first, you have to know that a lot of manufacturers, including Ford, offer these deals only on new vehicles. So, if you were thinking of buying a used one, then you are most definitely not eligible for freeing yourself of the annual percentage rate. This might sound unfair to you, but it’s just the way it is. It incentivizes people to purchase new vehicles by not having to pay an interest rate on their loan. Frankly, this could be a much better idea than opting for buying a used car with a loan that has a high interest rate, since you might just end up paying the same amount.
Read this to get better informed about the whole 0% APR idea: https://www.bankrate.com/loans/auto-loans/0-apr-car-deals-are-they-worth-it/
So, as you can see above, the first criterion is pretty clear. If you want to be qualified for such a loan, you will have to start choosing a new vehicle to purchase, instead of a used one. It would be great if that were the only criterion, am I right? Well, unfortunately for a lot of people, it isn’t.
Yet, don’t get discouraged right away. You might still be eligible for this deal and, the best part is, you can do something to become eligible for it even if you aren’t at the moment. We will talk about that later, though. Let me know focus on explaining the specific criterion that you need to know about if you are thinking of trying to get such a loan.
In simple words, you will need to have an amazing credit score. While getting a loan in general is possible with a bad credit score, chances are that you won’t be able to get such a low, i.e. a non-existent, annual percentage rate if your score isn’t exceptionally good. I know that this might complicate things a little bit, but I also believe that you understand why this specific criterion is in place. The lender needs to get protected as well.
How To Qualify?
If you are highly interested in getting a Ford 0% APR deal, but your credit score won’t allow that at the moment, you should learn more about how to improve it. Yes, you have heard me right. There is a way for you to improve your credit score and become eligible for this specific type of a loan. Don’t make the mistake of thinking that this is extremely easy, though.
Basically, there are a few things that you will need to worry about if you want to boost this score. For starters, you’ll have to make a habit of paying your bills on time. Then, you should also pay down your credit card balances and you shouldn’t apply for new credit unless you absolutely need it. I suggest you learn precisely how to make this improvement and then apply for your Ford 0% APR loan.