Have you recently found your dreamy new Ford F-150 or Mustang and the next step is to determine the best financing solution for you? You’ve come to the right place! The auto financing experts at Seth Wadley Ford of Perry are here to help you through every step of the financing process and answer any questions you have. We want you to have a stress-free auto financing experience, and our Ford finance managers have the skillset you can leverage to make the best decision.

Take a look at our Ford financing FAQs and speak with the team at our Ford dealer near Oklahoma City for more in-depth details. We’re here to show you all the pertinent information about auto financing and help you decide which car loan plan, lease agreement or incentives work best for your financial plan.

close up of someone signing a contract with car keys in sight
Happy couple enjoying while choosing and buying new car at showroom.

Get Answers from Our Ford Financing Experts


What are current interest rates to buy a car?

Interest rates on car loans will vary based on many factors but tend to be between 7% to 21%. The actual interest rate you get will depend on the vehicle you’re purchasing, the down payment you’re bringing to the table, your credit score and even the current economy, which can impact lenders’ decisions. Apply for financing to see the interest rate you could qualify for.


How do I get a good interest rate?

Interest rates are mostly driven by your credit score and payment history. The higher your credit score, the more favorable the interest rates you’ll qualify for. Other considerations, like the national economy, can also play a role in current interest rates and the types of risks lenders are willing to take.


Does my credit score impact my loan rate?

Yes. Your credit score is the primary factor of consideration any time you get a loan of any kind.


How much of a down payment do I need to finance a car?

In most cases, you don’t have to put any money down. However, the greater your down payment, the more likely you are to get a better interest rate, since lenders will view your loan as lower risk. Depending on the term length, your car payments are typically lower if you come up with a substantial down payment.


What’s the best length for a car loan?

The best term length for a car loan is the one that makes your monthly car payments affordable. For example, you can get shorter term lengths for your auto loan, typically at a better interest rate, but your car payment will be higher. If you get a longer term length, your monthly payments will be lower.


What additional costs will I be responsible for when buying a new car?

You will have to pay taxes on your purchase at the DMV or your tag office. Speak with our Ford finance experts about any additional costs related to the car title, insurance and other pertinent details, as these will be specific to your purchase.


I have a low credit score — can I still finance a car?

Yes! Your entire credit file will determine your eligibility for auto financing, not just your credit score. You can also consider having a co-signer on the car loan with you for better approval odds and interest rates. Our Ford financing experts will work with you no matter your financial situation, so you get the keys to the vehicle you need. Get pre-qualified today to begin.


I don’t have a credit history yet — can I still finance a car?

Yes. Your employment and the down payment amount come into play here. If you have stable employment and can produce a down payment, it makes it easier to get financing for the Ford truck or SUV you have your eye on. We help first-time car buyers all the time, so let us show you the process!


Can you offer a better interest rate than my pre-approved rate?

In most cases yes, we can beat your pre-approved rate or compete with it.


Can I reduce my monthly car payments down the road?

If you refinance your loan for a better rate, absolutely!


How can I find the value of my trade-in?

To get the most accurate appraisal of your vehicle, you should bring it to our Ford dealer in Perry. If you’d like to get a ballpark estimate of your vehicle’s worth, you can value a trade-in online and schedule an appointment with us for a formal appraisal and offer.


Can I sell my car while I’m still paying it off?

Yes! Chat with our Ford sales team about how to trade in and trade up. Or, if you’d like to sell your car for cash with a current loan, we can explain how that works, too.


Can I add a warranty when I buy a car?

Yes! In fact, it’s often recommended as warranties help you protect your investment.