Buying a vehicle is one of the biggest personal investments a person can make, and to make the right choice, you need a lot of answers. The team at Pennyrile Ford can answer those questions for you.
Question: What affects my vehicle loan APR? Does my APR affect my monthly payment?
Answer: Our Business Team at Pennyrile Ford works hard to get you the lowest possible APR, or annual percentage rate, for your new vehicle. We have partnerships with several financial institutions. These relationships have proven valuable as we go to work for you to secure the lowest monthly payment possible!
The following things can affect the APR on your vehicle loan:
- Buying new vs. used
- The length of the loan
- Customer’s total income
- Do you owe on your trade?
- Time on job
- Personal references
- Money down
- Previous payment history on bills
- Previous car credit
- Time lived in the area
- Totality of other obligations
- Total amount financed
- Homeowner or renter
- Which finance source used
Here’s some good news: You can get low starting APRs from the manufacturers for some vehicles:
- At Pennyrile Ford, interest rates as low as 0% for 36 months are available on specific Ford models. Click here to learn more.
We want to ensure transparency throughout the car-buying process to help you make an informed decision. Our goal? 100% satisfaction.
For more
Do you have more questions? We’d love to connect! Visit the Pennyrile Ford website, call 270-886-8131, stop by 5505 Fort Campbell Blvd., or visit them on Facebook or Instagram.