Finance FAQs

It’s simple to finance a new or used vehicle at Kamloops Ford Lincoln: start by selecting a vehicle that meets your needs, and then use our online car credit application to apply for credit. One of our representatives will contact you shortly and we will get you approved right away. Once you are approved you can meet with us to determine a financing plan that works for your individual needs.

Some of the primary factors that financial institutions take into account include your initial down payment, information on the model, age and cost of the vehicle you will be financing, as well as information about your application including income, time spent at current job, time at residence, and your credit history.

Whenever a financial institution evaluates whether to approve someone for credit, they will evaluate the risk involved in lending money based on an individual’s credit history. This information is generally provided by a credit reporting agency which will provide information on you history of paying back loans. A number of factors are taken into consideration when reviewing an applicant’s credit history including:

• Timeliness of payments, past and current



• Length of credit history



• Type and amount of debts



• Other public records

If you would like to learn more about your credit score, the government of Canada offers a detailed publication (PDF) with sample credit reports with explanations and additional notes.

There are two major credit reporting agencies operating in Canada that can provide you with detailed information regarding your credit history. They will provide you a copy of your credit report which will contain your credit score. Contact them here:

Equifax Toll-free number: 1-800-465-7166

TransUnion Toll-free number: 1-800-663-9980

We can offer you competitive rates and terms on your car loan with minimal time and effort on your part.

We have a set of options in place to help our customers with bad credit, including a Credit Rebuilding Program that will help you regain your credit with an affordable loan. We will get you the credit your need and the car you want at Kamloops Ford Lincoln.

Many customers at Kamloops Ford Lincoln qualify for financing on their very first vehicle. Ford has a number of attractive programs available, and we often have special options for first-time buyers as well as special rates for recent graduates. Talk with one of our finance professionals for details on the programs we have available for you.

Kamloops Ford Lincoln partners with a number of financial institutions to provide our customers with a competitive selection of financing packages. Elements including the vehicle you are considering, your initial down payment and other factors will affect the rate you can get. Apply for financing at Kamloops Ford Lincoln and we will evaluate your profile and show you the options available to you.

Factors that will affect your monthly payment include the amount financed, the term of your contract, your down payment and the annual percentage rate on your loan.

The general suggestion to determine the largest monthly payment you can afford is not to exceed 15% of your gross monthly income. If your income is $2,000 a month, then you should not be spending more than $300 per month on your car payment. This rate does not take into account the cost of other debts and expenses that you may experience from month to month.

You will need to bring a valid government-issued drivers license, a current pay stub, and a void cheque. Contact one of our Sales Representatives for a full list of what you will need to purchase a vehicle at Kamloops Ford Lincoln. You will require other items if you also plan on selling or trading in your current vehicle.