Frequently Asked Questions About Auto Financing in Holland, MI

Auto financing is a key part of buying or leasing a vehicle you love, and we want to make sure no hassles happen as you figure out your car payments. We have a skilled finance team here to guide you through the process if you need help, which we find many car shoppers do. Those car shoppers come to us with all sorts of questions based on their credit history, finance options, and more, so we've highlighted frequently asked questions at our auto finance center. Read on for answers to questions you may have about car loans, leases, and more!

How Much of a Down Payment Do You Need to Buy a Car?

A down payment is often required for buying a car, and we suggest a down payment of about 20% of the vehicle's price. This can be lower for used cars, and your credit score also plays a role in how much of a down payment you'll have to provide. We do run zero-down Ford leases near Allendale, so keep an eye out for those.

What Credit Score Do You Need to Get Approved for an Auto Loan?

There is no minimum credit score for buying a car, but your credit history does impact the rates that you qualify for. If you have no or poor credit, we're still happy to work with you to figure out auto financing. We can look at items such as your income and your past car loans to get an idea of the financing you qualify for.

What Are the Benefits of Leasing Over Buying a Vehicle?

Leasing and buying each has its pros and cons, and leasing may be better for you if you have a lower credit score or want short-term affordability. Lease payments are lower than auto loan payments, and you often don't have to put as much down. Leasing is also flexible as the lease return process includes several options to consider.

Should I Get Pre-Approved for an Auto Loan Before Shopping?

Getting pre-approved for auto financing is a great way to start your search. When pre-approved, you'll have an idea of the rates and loan amount you qualify for. Having this info in your back pocket can help you narrow down your search so that you find the right vehicle for your budget more quickly.

Can I Buy or Lease a Car, Truck, Van, or SUV Online?

Yes! It's easy to handle your car shopping online with our Holland Ford dealership. You can easily apply for a car loan or new Ford lease online, search our inventory, and secure your deal. It's safe and simple to buy a car online through our website!

How Does Trading in My Used Car Work at Barber Ford?

An easy way to put more money down for your next vehicle is to trade in your old one. We make trading in your vehicle easy, and you can start by finding the value of your vehicle online. We'll give you an estimate of your car's value and set up an in-person appraisal, which is where we'll provide a final offer. There's no obligation to sell once you start this process either.

Contact Our Auto Finance Center for More Help with the Process

Our auto finance team would love to talk to you about applying for a car loan, figuring out your credit score, or other ways to make your finance process a breeze. You can always call ahead to talk with our team or just contact us online if you'd prefer. We have a relaxed atmosphere in our showroom, too, for those wanting to tackle auto financing in-person!