Auto Loan and Financing Q&As

Trying to get a car loan can be daunting, frustrating and possibly even embarrassing for many. That is why our secure online credit application takes much of the pressure and stress out of applying for a car loan. Auto loans for people with bad credit or credit problems are available at Glenn Ford Lincoln in Nicholasville KY. Located just outside of Lexington KY at 4080 Lexington Road, we work with banks that assist people looking for bad credit car loans

How do Personal Car Loans work?

There are three basic types of auto loans - bank loans, credit union loans and finance company loans like Ford Motor Credit. All these loan types have a number of things in common: they are for a fixed period of time, they're all simple-interest loans and a bank lien is placed on the vehicle being financed. Loan terms and approval amounts vary but you can get preapproved for a car loan.  

I am a first time car buyer, can I get financed?

Absolutely! We have first time car loan incentives and great rates for people that have no history. College Grad incentives as well as other cash incentives like Military Appreciation that will help many first time car buyers with financing. Also we have some excellent lenders that are ready to approve a first time auto loan application. 

Do I need to go to a Buy Here Pay Here Car Lot?

Glenn Ford Lincoln doesn't offer on the lot financing here however we do work with banks that will assist with bad credit car loans. These banks help by giving a second chance auto financing opportunity to select new and used car buyers that helps with rebuilding or reestablishing credit. 
If you are forced to use a Buy Here Pay Here car dealer make sure they report your payments to the credit bureaus like Transunion and Equifax so that it helps establish a history on your credit. If they are not reporting your on the lot financing to credit reporting agencies it will not help with future purchases and can get you caught in a buy here pay here purchasing circle. 

What is the best car loan financing rate?

There are many factors that go into the best car loan rates. The factory sometimes put special rates on select vehicles like zero percent financing or a low new Ford leasing rate. These always have credit qualifications and if you don't qualify for a special Ford APR then we use multiple other lenders ready to compete for your loan. We shop for the best rate like you shop for new or used cars so we usually can beat or match the best rate you can find on your own. 

For more information about applying for a car loan or auto financing give us a call at Glenn Ford Lincoln in Nicholasville at 4080 Lexington Road 888-697-0268. If you have been turned down in the past due to bankruptcy, repossession, collections, or just no credit history then we may be able to help.