Ask the Experts at Banister Ford of Marlow Heights
Navigating the auto financing landscape can be overwhelming, but it doesn't have to be when you have the expert team at Banister Ford of Marlow Heights by your side. Our finance specialists are equipped with the knowledge and expertise to ensure you make informed decisions as you finance your next vehicle. Whether you're curious about car loan rates, down payments or understanding the value of your trade-in, we're here to guide you every step of the way. If you have more questions after exploring our FAQs below, our dedicated team at our Ford dealership in Suitland is ready to assist you.
Your Auto Financing Questions,
Answered by Our Experts
01
What are the latest car loan interest rates and how can I qualify for the best one?
Interest rates can vary greatly, but at Banister Ford of Marlow Heights, we offer competitive options to suit your financial situation. For new vehicles, we have subvented rates starting at 0%, and for preowned, rates start from 5.9% on Certified Pre-Owned (CPO) vehicles up to 24%. Your credit score plays a significant role in securing these rates, with better scores often yielding lower interest rates.
02
How do I secure an attractive interest rate on my car loan?
Attaining a favorable interest rate is largely dependent on having good credit and opting for a lower percentage advance. Our finance experts can provide guidance on how to potentially improve your interest rate based on your financial background.
03
Is a down payment required for car financing and how much should it be?
While a down payment is not always mandatory, it is beneficial as it reduces the total amount financed, potentially lowering your monthly payments and interest costs. Our team can help determine the right down payment for your budget.
04
What additional costs are involved when purchasing a new vehicle?
When buying a new car at Banister Ford of Marlow Heights, you should budget for additional expenses such as taxes, tags and documentation fees (approximately $500).
05
How do I find out what my trade-in is worth?
To determine the value of your trade-in vehicle, use trusted resources like Kelley Blue Book (KBB) or get an appraisal directly from us for a precise evaluation.
06
Will my credit score affect my car loan rate?
Yes, indeed. A higher credit score generally leads to a lower loan rate. Our finance team will work with you to navigate the best options available based on your credit score.
07
Can I finance a car if I have a low credit score?
Absolutely. At Banister Ford, we offer financing solutions for those with various credit profiles, including lower credit scores. We have options through Ford Credit and secondary finance sources to help you secure a loan.
08
What if I don't have any credit history yet?
Financing a car without an established credit history is possible. You may require a co-signer or qualify for the Ford First Time-Buyer Program. We'll explore all available options to get you behind the wheel.
09
What's the ideal length for a car loan?
The best car loan length varies per individual. Shorter-term loans generally save you money on interest but come with higher monthly payments. We'll work with you to find a comfortable balance that fits your budget.
10
Can Banister Ford offer better financing rates than my pre-approved loan?
Yes, we can potentially offer better rates than your pre-approval through Certified Pre-Owned loans and Ford subvented loans. Let us review your options and see how we can beat your pre-approved rate.
11
Is it possible to reduce my monthly car payments later on?
Refinancing your car loan is an option down the line if you're looking to reduce monthly payments. We can discuss when refinancing might be right for you.
12
Can I sell my car even if I'm still paying off the loan?
Absolutely. You can sell or trade in your vehicle during the loan term. We'll assist with the process and explain how this can work for you.
13
Can I add an extended warranty when purchasing my car?
Definitely. At Banister Ford of Marlow Heights, we offer various warranty options to give you peace of mind and protection long after you've driven off the lot.
Speak With Our Finance Experts Today!
Ready for more personalized advice? Do you have specific questions? Reach out to our finance experts at Banister Ford of Marlow Heights today, and let us steer you toward the ideal auto financing that fits your unique needs!