With a Ford Explorer costing as much as $55,000, the need to both arrange finance and get the best possible finance deal both in terms of the final sale price of the car, as well as the best interest rate and credit arrangement, becomes true for virtually everyone.
The cost of the Explorer is not unique to Ford, already good SUV’s do come at a premium. What matters more to a customer is that they spend time and energy doing the research before they buy, both in terms of what they can expect to pay in terms of price, and what they need to do to make sure they secure the best possible finance deal.
In terms of price, customers can take this pretty much as far as they want. There is a standard retail price often known as the MSRP, which is often referred to simply as the sale price. This is in effect the list price manufacturers put on their cars. In reality, everyone will expect a dealer to lock a significant percentage of this price, normally somewhere in the region of 10 to 15%.
Ford Finance on a Ford Explorer
Other people will go much further and take through various websites to actually get to what the dealer pays manufacturer for the specific car, and then decide how much they are willing to go on top of that in terms of paying the dealership.
Whichever way you go, bear in mind that the final sale price includes a number of potential optional extras, and care needs to be taken that these are actually wanted and needed an specified in the price. Anything you don’t want the clear about not including.
Keeping the sale price is separate from the negotiations about the finance rates is really important. If the customer is arranging finance through Ford credit, a process known as dealership financing, then back in mind that the dealer will be able to negotiate on all areas of the finance package, including the size of the deposit, the interest rate and any other conditions attached to the quotation.
Whilst they are able to negotiate, the dealerships room for negotiation may be a bit limited, and will to an extent be dependent upon the credit score of the individual applying for finance on the Ford Explorer and any cosigner who might be part of the original application.