When searching for a used Ford Expedition loan, you are most likely going to get a range of conflicting advice from friends and family. Securing the financing for a used vehicle can sometimes be the most stressful part of the entire secondhand car buying process, and it can be tempting to just go with the very first option you are presented with. In order to make sure that you get the best possible deal on a used Ford Expedition loan, however, you should try to remain objective and examine all of the different financing choices available to you one by one.
An obvious place to start is with the dealership that is selling you the vehicle. Getting a used Ford Expedition loan from the dealer can be a great choice in terms of the simplicity of the transaction. The lender who is working with the dealer is fully aware of the details of the deal, and most likely also has a very long working relationship with the finance department at that particular location. Both of these factors can work in your favor when it comes to getting favorable terms for your used Ford Expedition loan.
Ford Expedition Financing Options
Dealerships are also usually capable of extending credit to you even if your credit history is not quite as solid as it could be. If you have concerns over your credit, you should be up front with the dealership about it so that they can work with you to try to find a used Ford Expedition loan that fits into your budget from a lender who is willing to work with you to help get that SUV parked in your driveway. You will most likely find that these lenders are more flexible than a traditional bank when it comes to terms, credit history and interest rates for individuals with a lower credit score.
Of course, traditional bank financing remains a very viable option if your credit history is in tip top shape. In fact, if you have been doing business with the same bank or credit union for a very long time, this lengthy relationship will most likely work in your favor when it comes time to secure a used Ford Expedition loan. Some things to keep in kind when going down this path include the fact that some banks are not willing to finance vehicles which are older than a certain model year or which display more than a specific amount of mileage on the odometer. It helps to be aware of these policies before starting your negotiations with a financial institution, so make sure that you inform yourself regarding your bank's auto loan details as early in the process as possible.
Other things you might want to consider when shopping for a Used Ford Expedition:
Popular Used Ford Expedition Model Years