Ford Credit – Auto Loans and Leasing Options

Ford Credit / Ford Motor Credit, is the finance arm of Ford Motor Company, and offers finance to customers wanting to buy or lease a Ford car, SUV or truck.

Whilst in many ways it works like a traditional lender, there are some important distinctions.

A recent report by Fox Business News suggests that Ford credit are looking beyond a mere credit score with ford motor credit as a way of determining whether or not to loan someone money, as a way of boosting sales.

There can be real value from a customer’s point of view in linking the finance to the sale or lease of a car or truck with ford motor credit .

All areas of a finance deal are negotiable with ford credit , as are all areas of the sale or lease of the vehicle. Taken together, and with a reasonable amount of research a customer can maximise real benefit from both sides of the process.

This of course to an extent depends on the customer’s credit score with ford motor credit  .

There is a fair bit of anecdotal evidence on various FICO forums that Ford credit tends to favour one or two of the main credit bureaux, Experian, Equifax and Transunion, depending upon where you live.

This simply means that it is worth checking your credit score with each of these bureaux before applying for a loan with ford credit, and making sure any errors are corrected.

This then puts you in the strongest possible position to negotiate the best deal when buying or leasing a vehicle with Ford credit.

Ford Credit Login / Ford Motor Credit Login

Ford credit customers have the option to sign up for an on-line account, which they are then able to access and manage payments, contact information and other ongoing issues which affect their maintenance and running of the account.

For many people this is obviously a much simpler way of overseeing payments and running of the contract with ford motor credit , although others will prefer more traditional routes than ford credit.

There is also the issue of what happens if and when the Ford credit on-line payment system has problems, how these are managed and what the alternatives are.

Ford Credit Account Manager / Ford Credit Payment

Ford motor credit has a different number of payment systems, although they encourage people strongly to use an online payment system.

Ford Credit Account Manager – Online Payments

These can be set up and managed through the account manager system, and can refer either to regular schedule payments, or one-off payments if preferred.

The advantage of recurring payments with this type of loan with ford motor credit is that the amount should be the same every month, and therefore the system is easier to work and any mistakes are easier to spot and hopefully rectify.

One off payments can give the customer a greater sense of control, but also mean that the process has to be repeated every month to make sure it is accurate with ford motor credit .

Ford Credit Account Manager – Mobile payments

Mobile payments can be made through most regular smart phones, by simply going to the Ford motor credit website and entering the web address or URL in your smartphone browser.Then log into your account manager and access the recurring payment or single payment option as appropriate, as referred to above.

Ford Credit Account Manager – Telephone Payments

Payments can be made by telephone, although ford motor credit customers should be aware this is an automated payment system. You will need to call a freephone number, currently 1 – 800 – 334 – 1161, then enter your car number, details of your Social Security number, bank account details and confirm the payment details and due date.

For some people this may seem a bit  complicated, but once done would probably be a lot easier to repeat with ford motor credit

Ford Credit Account Manager – Change of Bank Account

Any change of bank account details, or change of bank itself can be advised to ford motor credit through the Ford Motor Credit account manager/payment options tab. Please be advised that Ford Motor Credit suggest changes should be made at least two business days before any payment is due.

Ford Credit Account Manager – Cancellation of payments

Any payments to Ford Motor Credit, whether single or automatic, can be cancelled through the account manager/payment options tab. Ford Motor Credit advise again that at least two business days are needed before any cancellation can come into effect.

Ford Credit Account Manager – Change of address

Ford Motor Credit customers may change or update their personal information through the account manager. This includes their home address, their email address and telephone numbers.

Ford Motor Credit advise that updating one’s home address may only be done once every 30 days.

Ford Credit Account Manager – Payroll Deduction

Many Ford Motor Credit customers find it helpful to have their monthly payments automatically deducted from their salary, and this is commonly referred to as payroll deduction.

Ford Motor Credit has a special scheme for its own employees, and government employees, past and present, have to contact their own payroll department to set a system up.

Individuals who work for any other private or public company should contact their own individual payroll department to see if it is possible to set up such a system.

Ford Credit Account Manager – Problems Accessing Account Manager On-Line

There are numerous anecdotal reports online people having problems being able to access their account manager with Ford Motor Credit.

Given the scale of how technology is used, this is not altogether surprising.

Ford Motor Creditdo not give a huge amount of practical help online if this is the case, other than to suggest ringing customer service and advising them of the problem. What you do outside customer service hours is not suggested.

Ford Motor Credit’s main website also suggest that people can access their account up to 60 days, once the account has been finalised and finished.

They also say that Ford Motor Credit accounts may not be accessed if the individual is in bankruptcy status or has had a number of returned payments.

This however, is unlikely to apply to the majority of people who have problems accessing their Ford Motor Credit account online.

It is a good idea for any individual to keep paper records of all the information that they store on-line, or to keep screenshots of such information on their computer.

This at least gives them access to the information in the event that they cannot access their on-line Ford Motor Credit account manager.

Ford Motor Credit Payoff

Ford Motor Credit account manager allows a customer to view their balance of account at any time, and also all information relating to paying off the loan or lease agreement.

It also lists two mailing addresses where payments may be sent.

Requesting extension/due date change

There is a facility within Ford Motor Credit account manager where a customer can request an extension or a change in the due date or any particular payment.

Ford Motor Credit include this as a courtesy to customers who may be going through a temporary financial blip, and need some assistance.

There is no guarantee that it will be agreed to, but each request is assessed on its merits, and the account holders past payment history will be an important factor.

There is also the option of approaching Ford Motor Credit customer service department directly, and talking the issue through with them instead of making an application online.

Receiving Title or Lien Release

It is standard practice for Ford Motor Credit to release the appropriate documents within 10 to 15 business days of the account balance being completely cleared.

They advise that if for any reason documents are not received, to contact Ford Motor Credit customer service and follow the issue through with them.

Billing Statement

A Ford Motor Credit customer’s billing statement can either be mailed to them directly, or accessed on-line. Paperless statements can be viewed through someone’s account manager, which can of course be printed off if needed.

Previous statements can also be viewed and accessed through the same process. Billing statements are normally produced about three weeks prior to when the date payment is dueto Ford Motor Credit .

Statements normally show the amount that is due, the date it is due by and any payments or charges since the last monthly statement.

My Ford Credit

This is a term that applies to a customers Ford Motor Credit online account manager, and is meant to express of the individuality of the Ford Motor Credit customers account.

There are a number of options available for managing My Ford Credit, but the main focus is normally around the various payment options listed above.

Ford Credit Customer Service

Ford Motor Credit, unsurprisingly, do take their customer service responsibilities seriously, and provide a number of ways of obtaining help and information on the main Ford website.

These include a huge online database of Ford Motor Credit common questions and answers, an online chat system, access to social media on twitter, Facebook and YouTube, a number of different phone options and standard mail addresses that customers can write to by traditional post.

It should be noted that the Ford Motor Credit customer service options are limited in terms of time, and this may prove difficult for some people to contact them.

Other Ford Motor Credit options  are online discussion forums, which whilst not run by Ford, are often very vehicle specific, and can offer advice and guidance very quickly and normally very reliably.

Ford Credit / Ford Motor Credit Address and Phone Number

Specific help for Ford Credit is available through the standard customer care service as above, also specific addresses and phone numbers as below :

Ford credit customer support – 800 – 727 – 7000  Monday to Friday 7 AM to 8 PM CT, Saturday 7 AM to 5 PM CT.

Ford Motor Credit Address –  for the credit, PO Box 542000, Omaha, NE 68154

Ford Credit App

At present,  Ford Motor Credit does not offer a mobile app that allows people to access the account manager through the smart phone.

Payments can be made by a mobile device by logging in to a normal browser and accessing the account in the same way that people would on a standard computer.

Ford credit do offer an Interest Advantage Mobile App, which allows people to access their Interest Advantage Account.

A Ford interest advantage account is essentially a way of allowing people to invest in Ford credit as a company, and full details can be found on the Ford website.

Ford Credit Application

People can apply for Ford Credit either online, or at a Ford Motor Credit dealer. The online process is fairly straightforward, and will walk you through a number of different stages, asking for different information.

Part of that information will be asking if you want to nominate a particular Ford dealership as part of the  application process. If you do, they will be advised of your result and subsequent status.

If not, then it is a good idea to print off and take with you a copy of the Ford Credit decision you receive, and have it available for any dealership to look at as part of the subsequent buying or leasing process.

A Ford Credit application will be judged on the information given, and a decision made based largely on the credit score and credit rating of the individual or individuals involved.

Whilst this is not final or binding on a dealership, it will to an extent proved to be the main focus of any finance deal.

Bear in mind, that all elements of a finance deal or negotiable with a dealership, including interest rate, down payment, length of contract etc. The better your credit score, the stronger your hand in terms of negotiating with ford credit.

Also a Ford Motor Credit dealership is likely to have a number of incentives or special offers that they may be able to help with, either on specific vehicles, or interest rates or cash back.

Whilst these incentives can be helpful, they can also blur the cost of what you may be paying, so it is worth taking a bit of time to itemise each part of the Ford Motor Credit process individually.

Ford Credit Rates and New Car Rates

The interest rate that Ford Credit charges to new customers is based on two things, the credit score of the individual customer, and the car itself.

Both factors are taken into account, and a judgement made by the Ford dealership as to what they were to charge.

In that sense, Ford credit rates on the different to any other commercial lender. No distinction is made because an individual is buying a Ford vehicle from Ford Motor Credit .

What is important to realise is that the Ford Motor Credit dealership is basing their judgement on a credit bureau rating, and may even inflate it in order to gain an extra profit.

It should be remembered that all areas of a finance deal are negotiable, including the interest rate.

It is also advisable to get alternative quotes from different finance companies as well as ford credit, making sure that the quotes are based on the same information.

Ideally this should be done prior to visiting a Ford Motor Credit dealership, in order that a valid comparison can be made at time of sale.

Sometimes Ford Motor Credit dealers will offer zero interest rates on new vehicles, and this can be worth exploring.

Sometimes this is done at a particular time of year in order to shift inventory, other times simply to attract customers with a good credit score.

Ford Motor Credit Lien Release

Ford credit advise that once an account has been fully settled and completed, they send out all the appropriate documents in relation to title and lien release within 10-15 business days as an automatic process.

They go on to say that if documents are not received, then to contact Ford Motor Credit customer service.

One of the reasons this is important is that whilst a loan is ongoing, Ford Credit has what is known as a lien on the vehicle.

This simply means that legally, if the individual defaults on the loan, then Ford credit has a right to repossess the vehicle and try and recoup their money.

Obviously once the loan has been paid off to Ford Credit , then this lien is removed, and the title of the vehicle reverts back to the individual who has paid for it.

Ford Motor Credit Insurance Address

Ford Credit , may from time to time have a preferred insurance company, who offer preferential deals to Ford credit customers, and it is probably a good idea to get a quote from them as well as from other insurance companies.

As to insurance generally, Ford Credit will want proof that the vehicle is properly insured with respect to any insurance requirements they put on the vehicle.

This can also apply to Gap Insurance as well as any extended warranty insurance that may be in place.

These insurance  requirements are normally handled by the Ford Credit dealership, although the actual insurance itself will be the responsibility of the customer, and their responsibility to arrange it themselves.

Any queries regarding the insurance should either be addressed to the appropriate insurance agent or company, and/or possibly to the Ford Motor Credit dealership as well when the vehicle was bought.

Ford Credit Tiers

Ford Credit Tiers relate to the various levels associated with differing credit scores.

Whilst these are relevant to a point, Ford Credit will tend to look at the credit score of an individual, and make an assessment about their lending material based on that information.

Ford Care Credit

Ford Care Credit is a term normally associated either with Ford credit itself, with a Ford service credit card or with some type of extended warranty or plan that may be on offer.

Extended warranties from Ford Motor Credit can provide different types of peace of mind for people, but they do often come at a price.

It is worth investigating exactly what is covered and how long, before deciding if the risk/reward ratio is worth the cost.

Ford Commercial Credit

Ford Credit  operate a commercial lease system, referred to as an open end TRAC (terminal rental adjustment clause) lease.

It is a lease designed for vehicles that are used more than 50 percent of the time for business purposes.

There are a number of exclusions in terms of type of business and vehicle that may operate such a lease from Ford Motor Credit , and there are a number of real differences between a commercial lease and the standard lease offered to individual customers.

Full details on the Ford Motor Credit website.

Ford Service Credit Card and Application

A Ford Service Credit Card  is a credit card to you apply for to Ford Motor Credit , specifically for the intent of spreading the cost of all servicing, maintenance and repairs to your Ford vehicle.

Specifically it is intended to be used for vehicle servicing and maintenance, parts, accessories, extended service plans, loan or vehicles and body shop repairs.

It is simply a credit card, but its intent is to give the customer a specific line of credit relative to their motor-vehicle and its needs. It can be used at all Ford Motor Credit dealerships throughout the USA.

 

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