How Dams Ford Lincoln financing works
Online pre-approval is fast
Get the ideal financial options for your situation by using our online calculator.
Select your monthly or bi-weekly payment
Your credit score has an impact on your loan's interest rate. You can check your score with no impact on your rating! We offer financing options for all credit situations.
Leasing & Financing options from Ford
We excel in helping customers qualify, and there is a range of finance plans available. You can build equity into your new or used vehicle. Our calculator can help you work out your payments.
Red Carpet Leasing
There are quite a few lease-end choices and annual kilometer options on offer from Ford.
Ford lease-end options
Ford Credit makes leasing and lease-ends easy and convenient for you. You have three options when your lease ends. Please refer to your Lease-End Agreement for full details.
- Buy your lease vehicle
- Buy or lease a new Ford
- Return your vehicle to Dams Ford Lincoln
- Please check your lease vehicle for excess wear and tear. Use the wear and tear guidelines mailed to you prior to lease-end or download Ford's wear and tear checklist at the link below.
Leasing, financing, and your insurance
Many people wonder: “Is vehicle insurance more expensive if I lease a car?” No, insurance is not more expensive if you lease a car. Here are the key points to consider about financing, leasing, and insurance.
How auto vehicle insurance is calculated
Premiums aren’t calculated on how you buy or pay for your car. You pay the same for insurance, whether you buy or lease. Let your insurance company know you’re leasing. Premiums are based on a number of things, including your driving history, what you drive, and where you live.
Other parties with an interest in your vehicle
When you finance or lease, someone is holding the interest on that vehicle, a bank, lender, or dealership. The name of the leasing company or the financier should be on your insurance policy. This means that the interested party's investment is protected.
If you have an accident
If your vehicle is in a collision or a write-off, the leasing or finance company will be paid first. You will get a payment if your vehicle is worth more than what you owe on it. If you still owe more than the vehicle's value, gap insurance can cover those costs. Ask your insurer for information.
I need more information
Your auto insurance company can explain what your policy covers, as well as any fine print. When you switch vehicles or decide to lease instead of buying, inform your insurance agent.
Ford Commercial Leasing
Get flexible automotive financing and leasing packages for your business and keep things on the move!
- A range of terms financing terms available
- No hidden fees
- Combined billing available
- Lease payments can be lower than finance payments
- Short-term leasing allows newer vehicles more often
- Leasing means your cash can be invested in your business
- GAP insurance.
- New and used vehicles available
- Open-ended leasing is possible
- Cars, trucks, vans, and heavy-duty trucks available
- Upfit vehicles
- High kilometrage and heavy use vehicle options.
- Credit lines start at $250,000
- Ford does not charge setup or non-utilization charges
- Free up your business capital
- Available for Retail, Red Carpet Lease, and Commercial Lease financing.
- Combined billing on offer to retail and Red Carpet Lease, and Commercial Lease Customers
- Simplify your payments by consolidating your monthly statements
- Combined billing is complimentary if you have two or more accounts.
- Contact us with any questions or further information and we'll be happy to help.
Get the new Go Auto App
Download the Go Auto App to start earning Go Card rewards today!
What should I bring to my finance appointment
Please bring your pay stub or a void cheque, depending on the specifics of your purchase and your valid government-issued driver's license. You may be required to bring additional information. For a complete list of what you'll need to buy or trade in a vehicle from Dams Ford Lincoln, call the us ahead of time and speak with a sales consultant.
Will I be approved?
Four factors determine whether you get approved for a car loan. They are the vehicle you select, its cost, age, and mileage. Your information, including employment history, residence, and income. Credit history, meaning information contained in your credit file. A down payment - which can be a combination of cash and trade equity. Try to select a vehicle that fits your budget. Also, provide as large a down payment as you can.
How are my car payments calculated?
Three things affect your monthly payment. The first is the amount financed, the term or length of the loan contract, and the annual percentage rate (APR) we offer. At Dams Ford Lincoln we offer competitive rates from Canada's largest lenders to fit nearly every budget and credit profile.
How do I budget for my car payments?
Guidance from most financial institutions is to spend no more than 15% of your gross monthly income on your car payment. For example, if you make $2,000 a month you should spend no more than $300 on your car payment.
What is my credit score?
Every adult has a credit score. It is a number that allows financial institutions to predict the risk associated with your purchase of a car, house, use of a credit card, or any other financial products, etc. It is used to forecast if you will pay your bills on time. A credit score ranges from about 350 to 850. In general, the higher your credit score, the more likely you are to get approved for a car loan. The systems that generate your credit score look at your credit report and take several factors into account when determining your credit score, such as payment history and the number of inquiries made on your credit report.
How is my credit score calculated?
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the more likely you are to get approved for a car loan. The systems that generate your credit score look at your credit report and take several factors into account, including: the timeliness of your payments, including late payments the amount and type of debt you have the number and age of your credit accounts inquiries created by applying for credit public records such as liens and judgments.
Should I finance or lease?
This depends on your future plans and budget. If you want to own a car for many years and build equity in it, then buying is a better option. On the other hand, if you plan on moving away or traveling in the next few years, leasing could be a good idea. Leasing is also good for people who prefer having a car under warranty and want the latest features. Our Finance managers can go through all the pros and cons and help you with this decision.
Can I qualify for financing on my first vehicle?
Of course. Many Dams Ford Lincoln customers get financing for their first vehicle purchase. If you haven't built up a credit history, you may still qualify for other programs, like graduate financing. Stipulations for college students vary, according to lenders. Ask us for more information.
Does Ford have their own financing?
Yes, Ford Canada has flexible financing and leasing programs available. At Dams Ford Lincoln, we work with Canada's top lenders and have financing options from our parent company, Go Auto. Call us today for the best financing rates for your budget and lifestyle.
Who is a well-qualified buyer for Ford?
Almost anyone can qualify to buy from Ford. Even with a low credit score or bankruptcy, there are options available. Newcomers to Canada, first-time buyers, and students can qualify for Ford financing, too.
How long does it take to get approved for Ford Credit?
It can take from a few minutes to a few days, depending on the lender, to approve vehicle financing or leasing.
How late can I be on my Ford payment?
Try not to be late on your monthly or bi-weekly Ford vehicle payments. If you are late, you risk financial penalties as well as damage to your credit score. If you think your payment will be late, contact us or your lender immediately.
Is it hard to get financed through Ford Credit?
No, not at all. Ford Credit makes it simple and easy to finance or lease a car, van, truck, or SUV. Even with a low credit score, options are available. Call us at 604 932 9921 to discuss your requirements and financing options.