Finance Information
Financing With Gary Yeomans Ford Knoxville
We Offer Simple, Fast Financing for Everyone
Budget Friendly Solutions
We offer a wide range of carefully selected financing options from among the most competitive and affordable lenders available.
Fast Application Process
Our Finance Deptartment will work with you to complete your personalized credit application as quickly as possible.
Honesty and Integrity
Our finance process is completely transparent and our lenders will keep your personal information private.
The automotive finance team at Gary Yeomans Ford Knoxville understands that outside of a root canal, no other event in our lives causes more duress than the duress caused by trying to secure vehicle financing. We remove the angst of financing your new or pre-owned Ford vehicle by offering financing solutions that do not bust the family budget. Instead of waiting for days to learn about the status of your car loan application, Gary Yeomans Ford Knoxville provides our customers with a quick online loan application that returns confirmation for approval within just a couple of minutes. Above all, the finance team at Gary Yeomans Ford Knoxville offers the rare commodities of honesty and integrity by working with reputable lenders that have served the Knoxville community for several years.
No More Fist Pounding Frustration
Completing an automobile loan application can turn the most disciplined customer into a bundle of nerves. The finance center that helps you receive car financing at Gary Yeomans Ford Knoxville provides a wide variety of loan options to match your budget constraints. We learn what type of Ford vehicle that you want to purchase, as well as the amount of the down payment you can afford. Our team of Ford finance experts also encourages our customers to trade in a vehicle to reduce dramatically the amount needed to secure a car loan.
Apply online on the Gary Yeomans Ford Knoxville protected application page and wait mere minutes (sometimes seconds) for loan approval.
How Your Payments Are Affected
| Total Amount Financed | Number of Months Financed | Annual Percentage Rate | Monthly Payment | Details |
|---|---|---|---|---|
| $17,500 | 60 months | 10.00 | $372 | Standard financing |
| $15,500 | 60 months | 10.00 | $335 | Reducing 10% of the financed amount equates to 10% less in payments |
| $17,500 | 66 months | 10.00 | $346 | Increasing length of loan by 10% equates to a 7% reduction in monthly payment |
| $17,500 | 60 months | 9.00 | $363 | A 10% reduction in interest equates to a 3% payment reduction |
Calculating Your Monthly Loan Payment
It does not require the intelligence of Albert Einstein to calculate your monthly car loan payment. The amount and length of the car loan provide a good starting point for calculating the monthly car loan payment. Then, the lender determines your annual loan percentage rate, which derives from your credit score.
The Mystery of the Credit Score Solved
Three major credit reporting agencies provide all of the information lenders need to not only approve your Ford car loan, but also determine your annual loan interest rate. Although the three major credit reporting agencies differ slightly on the criteria used to determine interest rates, Gary Yeomans Ford Knoxville customers that travel from Knoxville suburb such as Oak Ridge and Maryville, Tennessee can count on the following credit score calculation factors:
- Type and amount of outstanding debt
- Number of late payments
- Number of credit accounts
- Number of recent credit inquiries
- Number of liens and legal judgments
Credit scores span between 350 and 850. The higher the credit score, the lower financial risk you pose to car loan lenders.
Bad Credit is Not the End of The World
Gary Yeomans Ford Knoxville has earned the reputation for being the go to automobile dealership for customers that have experienced a few bumps on the personal finance road. Our team of car financing experts understands that not every one of our Knoxville area customers possesses sparkling credit scores. In fact, most of the customers that visit us from nearby cities like Maryville and Oak Ridge, Tennessee have at least a blemish on their credit reports. Gary Yeomans Ford Knoxville works with a wide variety of lenders, including lenders that specialize in securing auto loans for credit challenged customers. Do you have to pay loan shark interest rates? No, the lenders that we deal with want you to become customers for life, as do the automobile professionals at Gary Yeomans Ford Knoxville.
Visit the Gary Yeomans Ford Knoxville website to use the finance tools that help you determine how much you need to set aside each month for auto loan payments. Then, stop by our Knoxville, TN dealership to speak with one of our financing professionals that help you buy the new Ford vehicle of your dreams.
- What to bring with you
- A valid driver 's license
- Proof of Insurance
- Proof of Current Income
- Proof of Current Residence
- Proof of Current Phone Number
- In some cases, you may be asked for additional information. We’ll walk you through every step of the way and respect your privacy and concerns.
- Payment Estimator
- Leading Credit Reporting Agencies
-
Experian:
www.experian.com
1.888.397.3742 -
Equifax:
www.equifax.com
1.800.685.1111 -
TransUnion:
www.transunion.com
1.877.322.8228
- Your Monthly Budget
- Many lenders suggest that you spend less than 15% of your gross monthly income (GMI) on your car payment monthly. Some examples include:
- $2000 GMI = $300 or less per month
- $4000 GMI = $600 or less per month
- Monthly payments normally range from $20 - $25 per $1,000 financed.
