Unless you are lucky enough to find a Ford F150 50 Harley-Davidson at a Ford dealership, odds are that credit or finance is going to be arranged through eight additional route such as a bank or a credit union.
If the truck is brought through a Ford dealer, then the customer may be out get a deal via ford Credit, otherwise it’s back to the bank.
Certain basic rules apply, whether the truck is being bought through some other type of dealership, from eBay or from an ad in the local paper.
When arranging finance or credit, it is always a good idea to get pre-approval if possible, as this is the customer a high degree of confidence about being able to buy the truck and how much they can pay for it.
The important thing when arranging any type of credit and finance is to get several different quotations, and to be able to compare them on a like-for-like basis. This means comparing the size of the down payment, the interest rate, the period of the loan and any additional costs such as fees that may be charged. It is also worth checking that are any early termination charges of the loan.
FORD F150 HARLEY DAVIDSON – Best Credit Deals
The terms and conditions of any credit finance arrangement will largely be determined by the credit score of the individual. This is why so checking your own credit report and making sure the information in it is up-to-date and accurate.
If not it can be challenged and either removed or modified, thereby having a knock-on effect on your actual credit score.
If the individual has bad credit, then expect a higher interest rate and possibly stricter terms and conditions on other aspects of the loan. The lender may require a cosigner, or even in exceptional circumstances some sort of security for the loan.
If the individual has no credit history either because of age, or they have moved to another country, or have never applied for credit for and they may receive a more sympathetic hearing from certain lenders, making it even more important to shop around.
Anecdotal evidence seems to suggest that credit unions offer better deals on banks generally, but you obviously need to belong to one, in order to get the benefit.