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Planet Ford Dallas Love Field Financing & Auto Loans

Auto financing on any new Ford vehicle for sale

Planet Ford Dallas Love Field maintains close relations with top lenders. We handle your financing professionally and promptly.

We are here to help you get into the car or truck you want with a monthly payment you can afford and feel comfortable with. Our experienced staff is here to work with you and your unique situation to find you the best possible rate and terms.

To have one of our professional analysts take a precursory look at your situation, please fill in our secure credit application. Submit a completed application and we will contact you promptly.

You can start your financing process before you even head to the dealership by filling out the secure credit application. We can look at the completed form, and then one of our staff will contact you and help you through the rest of the process.

If you have immediate questions about financing an auto loan, please refer to our Auto Finance FAQs below or call us.

Ford financing options from Park Cities Ford of Dallas

What Does it Mean to Finance a Car?

When you finance a car or any other large purchase, it means that you borrow money from a financial institution. Whether you buy your next vehicle from a dealership or you choose to go through a private party, financing ultimately means you agree to certain terms to pay the money back over a certain period of time. When you take out a loan, it means you will pay back the amount you borrowed, plus any fees and interest

How Does it Work?

If you plan to buy a car and need to finance it, you'll have to apply for a car loan. Once you are approved, you will make monthly payments until you pay the loan off. Each payment is made up of two different parts. One is the principal payment, which goes toward paying back the balance on your loan, and the other is the interest payment. This part of the payment pays the monthly interest based on the rate you received when applying for the loan.

If you make a down payment, it's subtracted from the amount you have to borrow, which lowers the amount you'll pay interest on. The monthly payment is determined by the price of the car, the annual percentage rate, and the loan term.

What Do I Need to Get Financing?

The best way to make the car buying and financing process go smoothly is to prepare ahead of time. You can start by checking your credit score to see where you stand, and if you have time, take the necessary steps to bring your score up if needed.

There are some documents you'll want to make sure you have when you head to the dealership.

  • Proof of identity.
    • Bring your license.
  • Proof of income.
    • Bring copies of pay stubs from at least the last month, and make sure it shows your total year-to-date income.
    • If you are self-employed, you can bring tax returns instead of pay stubs.
  • Proof of residence.
    • Have a utility bill or mortgage statement available in case your license with your address is not sufficient.
  • Proof of insurance.
    • Provide a copy of your auto insurance policy, or start shopping around to ensure you get insurance before buying your new vehicle.
  • Vehicle information.
    • When you finance directly through the dealership, the finance department will provide the lender with the vehicle information.

What Are the Different Types of Financing?

There are several different ways you can finance a vehicle. First, direct financing comes directly from a lender such as a bank or credit union. These companies provide loans directly to the buyer so they can purchase their car from the dealership. Buyers fill out an application with the bank and get preapproved for the loan before they start shopping.

Indirect financing is when the dealership arranges the financing for their customer. Most dealerships have working relationships with several local banks and financial institutions. Therefore, they serve as a liaison between the buyer and the bank to complete the loan process. Once you find the vehicle you want to buy, you fill out a credit application at the dealership. They will submit it to several different lenders, who will come back with their offers. You can then compare rates and terms to find the best deal.

What Are the Benefits of Going Through Your Dealership's Finance Center?

There are several benefits to going through your dealership to get financing for your next vehicle. Companies such as Planet Ford Dallas work with local Dallas area banks to help get good rates for their customers, and they take care of all the legwork.

Another benefit of going through the dealership is the ability to compare rates with just a single application. Since the dealer works with several financial institutions, they will contact more than one, and you can choose the one that offers the best deal.

Even if you have a relationship with a certain bank, they are often less willing to negotiate your APR if you apply for a loan directly with a bank or credit union. However, if you use the finance department at your dealership, they might be able to negotiate the terms to get you a better rate.

When you finance through Planet Ford Dallas, the whole process is done in one place. You can show up at the dealership, let us take care of the legwork, and drive away with your new car in one day.

Another benefit is the promotional pricing that dealerships offer for some vehicles. Financing through the dealership might allow you to take advantage of offers such as 0% APR on some new models if you have a certain credit score.

What if I don't have very good credit?

While the process might be a bit more difficult, you don't need excellent credit or even any credit at all to finance a vehicle. At Planet Ford Dallas Love Field, we don't just look at your credit; we look at your whole financial situation. We will treat all of our customers the same way whether they have the highest possible credit score or you need to work on your credit. Even if you have been turned down at other financial institutions or dealerships, stop by Planet Ford, and we can see what we can do. Click Here To Get Started

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