Ford Models 2020 And How To Finance Them
Founded in 1903 by Henry Ford, the auto manufacturing company sells most of its commercial vehicles and automobiles under the Ford brand, and luxury cars are sold under the Lincoln brand. Ford is the second-largest US-based automaker and ranks as the fifth-largest company in the world in terms of car manufacturing.
The automobile company has several types of cars to choose from such as SUVs, crossovers, mid-sized cars, sedans, and hatchbacks. Below, we’ve listed the best Ford car models for 2020 and several ways to get financed on your preferred model.
Financing Your Next Ford
There are many ways to finance a car. You can apply on your own with lenders, banks, and credit unions. Alternatively, you can opt for dealership finance. Irrespective of the type of finance you choose, you’ll pay more than the cost of the vehicle over the term. This is because you’ll be paying the interest and other loan costs on top of the car’s actual cost.
There are three primary factors that you must consider before financing your car:
- Loan Amount
- The APR
- The Loan Term
The interest rate is mostly dependent on your credit history, credit rating, and DTI-ratio. If you have a good rating (750+), you’ll get competitive rates. Similarly, if you have a bad credit (650 or lower), you’ll be quoted higher rates. It’s a good idea to apply for pre-approval with banks and credit unions because they tend to offer better rates compared to private and online lenders.
Selected Ford Models
Over the years, Ford has produced some great automobiles. There’s now a wide range of models to choose from. Below are some of the top-selling Ford Models of 2020.
Ford Fusion
The Ford Fusion 2020 is the third-generation vehicle of its model introduced in 2013. It’s a modestly priced vehicle that comes in hybrid with plug-in options.
- Quiet interiors and high-quality interior materials
- Plenty of legroom
- Sync 3 infotainment system
- Classy cabin design
- Easy-to-use controls
- All-wheel drive options (for colder climates)
The MSRP of this model varies depending on the engine type. On average, you can get a Ford Fusion 2020 between $23,000 and $37,000.
Ford Mustang
The 2020 version of the Ford Mustang offers three choices: convertible, coupe, and BULLITT. They’re part of the sixth generation of Mustangs launched in 2015.
- EcoBoost Performance (4-cylinder) package
- Powerful due to V8 and 4-cylinder engines
- FordPass Connect
- Low noise
- Interiors are a blend of modern and retro style
Mustang MSRP varies based on your choice of body. Prices range between $26,670 and $46,705.
Ford Edge
The Ford Edge is the best five-seater, SUV in its range. With a host of advanced features, sleek design, and a powerful engine, this car has something for everybody.
- 335-hp twin-turbo V-6 engine
- Comfortable drive and plush interiors
- Spacious
- Fuel-efficient
- Sync 3 infotainment system
- Excellent driver assistance and safety features
The MSRP of this car is between $32,195 and $44,360 depending on the model you choose.
Ford F-150
The F-150 is a powerful pickup truck. It has powerful engines that help it haul any car easily. With plenty of interior space and features, this is a wonderful multipurpose vehicle.
- Multiple engines
- Powerful and fuel-efficient
- Off-road driving
- A gamut of driver-assistance and safety features
- User-friendly control
- Inbuilt infotainment system
The model has a base price of $28,495 and the top-of-the-line model costs around $67,485.
Ford Bronco
The legendary Ford Bronco is making a comeback. It’s the perfect vehicle for the SUV and crossover segment.
- 4x4 capabilities in all models
- Off-road driving
- Removable roof and door panels
- Functional and timeless design
- Extra durable interiors and waterproof components
Although Ford hasn’t released an official price, experts assume that the Bronco will have an MSRP of $30,000 and upwards.
Loan Options
Once you’ve picked the model, start by collecting quotes from various lenders. Compare the options and negotiate for better rates and terms. Review the requirements and make sure that you meet the criteria. It’s a good idea to get a pre-approval as you’ll have a better chance of negotiating lower rates at the dealership.
You can check and compare a list of lenders using MyAutoLoan. This company helps you find the best loans based on your eligibility. You can also try applying for a loan with a bank. Capital One offers loans at competitive rates. Moreover, if you wish to refinance an existing loan, check out LendingClub which has zero fees and great rates.
Bottom Line
If you’re planning to get a new car and looking for something within budget, Ford has great, affordable models for you to choose from. Take your time, read user reviews, and select the car that best fits your needs. After that, you’ll be ready to set a budget and shop around for good financing options for your new car.
