Ford credit requirements are broadly similar to what is required by most auto lenders such as banks or credit unions.
Anyone approaching Ford credit will be required to fill out an application form, either on-line or in person, where they will need to disclose a significant amount of personal and financial information.
Their name, date of birth, address, telephone number, social security number or social insurance number, their driving licence, their passport etc.
In addition they will need to get their current and possibly previous employers details as well, and full details of all income from all sources themselves and possibly their spouse as well.
Whilst this amount of information can seem fairly intrusive, ford credit and any lender are trying to establish the risk of lending the money to a potential applicant.
This they do primarily by establishing what is known as a credit report from one of the major credit bureaus, who then produce at the end of the process what is known as a credit score. This credit score is the primary way that Ford credit will assess whether or not to lend the applicant money, and if so on what terms and conditions.
Ford Credit Requirements 2017
Assessing a risk is always to an extent an arbitrary process, and it should be remembered that Ford credit requirements whilst calculated through their website will be done largely on a mathematical basis.
What this essentially means is that for some reason the applicant believes that they have not got the best deal they can from Ford credit they should approach a dealership directly and try and obtain a quotation done on a much more personal basis.
Ford credit requirements also relate to the credit history of the individual, and this will be taken into account along with their current use of credit or lack of it. This can seem quite a complex process, but one that is a standard practice in the industry and is used by all major lenders as a way of assessing the risk element of any personal or also loan process.