Whether you have been getting cars on finance for years or are new to the game, it can be an overwhelming experience.
With so many dealerships, how do you separate the reliable experts from the cowboys?
If you’re looking for a used Ford on finance, this is the perfect guide to get the best deal – but there are many take-home tips for all used finance agreement types, too.
Read on to learn more.
Whether you have been getting cars on finance for years or are new to the game, it can be an overwhelming experience.
With so many dealerships, how do you separate the reliable experts from the cowboys?
If you’re looking for a used Ford on finance, this is the perfect guide to get the best deal – but there are many take-home tips for all used finance agreement types, too.
Read on to learn more.
Why choose a used Ford?
Ford cars are known for being reliable, strong, and affordable, making them a great option for all drivers.
Even if you opt for a used model, you can benefit from fuel efficiency, innovative features, and unmatched performance.
Used Ford cars come with lower depreciation rates compared to new cars, ensuring great value for money. Maintaining a Ford is convenient and cost-effective, too, with the availability of spare parts and widespread service centres.
What is car finance and how does it work?
Car finance is a payment method that allows you to spread the cost of a vehicle over monthly payments, rather than paying the total amount upfront.
The agreement will run over a set amount of time with fixed monthly payments until you pay off the cost of the car.
The most common car finance types are:
- Hire purchase (HP) – ownership transfers after all payments are made
- Personal contract purchase (PCP) – optional final payment to own the car, or ability to trade it in for a different model
Benefits of opting for a used Ford on finance
The key benefits of getting a used Ford on finance are flexibility and affordability.
Choosing a used model often means the price is much lower than a brand-new one, resulting in smaller monthly payments.
But this doesn’t mean you’ll be left behind. Used models still have modern technology and included features that make driving a breeze.
With a reputation for being durable, used Ford cars also offer dependable performance, even after years of use.
Financing allows you to enjoy the perks of a car without the financial burden. It means you can preserve your savings and even improve your credit score by showing financial responsibility and general money management.
Factors to consider when choosing a used Ford on finance
Condition
There’s no point signing up to pay for a car that’s in poor condition.
Check for any visible damage, wear and tear, and signs of poor maintenance to ensure the car has been looked after properly.
Lower mileage is recommended, as it indicates less wear on the engine.
You should also ask for service history and MOT notes to confirm it’s been regularly maintained. This can also show if and when major repairs have been conducted on the vehicle.
Finance terms
Are you required to provide a deposit?
What are the interest rates?
How long is the loan duration?
These are all questions you should ask prior to signing the agreement so you know exactly what you’re paying and for how long – then there’s no danger of hidden costs.
Your budget
Before meeting with any car finance providers, it’s important to have a rough budget in mind. Think about how much you’re willing to spend each month, taking maintenance expenses – like fuel, insurance, and tax – into consideration.
Calculate the total cost with interest, leaving room for unforeseen expenses as an emergency cushion.
Location
Where is the dealership you’re looking at?
It’s advised you pick one pretty local to you, otherwise, you’ll have to organise transport there, making it a hassle if you need to meet the team in person or return the car at the end of your agreement.
How to find the best used Ford on finance deals
When searching for used Ford cars on finance, it’s essential to do your research. Start by using comparison websites and checking individual dealer websites to see if there are any advantages to shopping directly through them.
Don’t forget to read reviews for first-hand accounts from recent customers – it’s a great way to gauge the reputation of dealers and finance providers.
If you’re not in a rush, consider visiting a few dealerships to get a feel for the cars you’ve been researching and ask any questions in person. This can give you a clearer picture of the options available and their suitability for your needs.
Keep your preferred finance type in mind when speaking with different providers or visiting showrooms. This will help you understand the specific benefits they offer and how their plans align with your budget.
If you’re concerned about your credit score and need a reliable provider who won’t judge you unfairly, Concept Car Credit specialises in personalised finance deals designed with your circumstances in mind. Regardless of your credit history or prior experience with finance agreements, they’ll work with you to organise a plan that suits your needs.
