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Ford finance options at a glance
- Finance for a Ford Ranger, Everest, Escape and more
- Secured and unsecured car loans
- Ford business finance options
- Ford novated lease
- Borrow up to $150,000
- Fixed or variable interest rate
- Finance terms from 1 - 7 years
- Flexible repayment options
- Pre-approval available
- Extra features like redraw
Ford finance Australia: Understand your options
Getting finance for a Ford in Australia can be relatively simple. You have two main options: finance through Ford directly via myFord Finance, or getting a car loan separately from a bank or other lender.
There are also Ford finance options specifically for businesses and those who are eligible for a tax-friendly novated lease through their employer.
Whichever option you choose, it’s important to get the best deal possible on your Ford finance. Even a small difference in your car loan interest rate can mean spending significantly more or less. Particularly if you’re shelling out up to $95,000 for a top-of-the-range Ford Raptor, the extra interest over a full loan term could be painful.
Ford finance rates compared
Vehicle | Ford Ranger XL (2.0L Turbo Diesel Double Cab Pick-up) |
|---|---|
Estimated cost | Drive away from $48,346 |
Monthly repayments (6% p.a. interest) | $935 |
Monthly repayments (8% p.a. interest) | $980 |
Vehicle | Ford Ranger Raptor (3.0L V6 Twin-Turbo 4WD Double Cab Pick-up) |
Estimated cost | Drive away from $94,912 |
Monthly repayments (6% p.a. interest) | $1,835 |
Monthly repayments (8% p.a. interest) | $1,924 |
Vehicle | Ford Everest (Ambiente 2.0L Bi-Turbo Diesel RWD) |
Estimated cost | Drive away from $58,940 |
Monthly repayments (6% p.a. interest) | $1,139 |
Monthly repayments (8% p.a. interest) | $1,195 |
Vehicle | Ford Escape FWD |
Estimated cost | Drive away from $42,755 |
Monthly repayments (6% p.a. interest) | $827 |
Monthly repayments (8% p.a. interest) | $867 |
| Vehicle | Estimated cost | Monthly repayments (6% p.a. interest) | Monthly repayments (8% p.a. interest) |
|---|---|---|---|
Ford Ranger XL (2.0L Turbo Diesel Double Cab Pick-up) | Drive away from $48,346 | $935 | $980 |
Ford Ranger Raptor (3.0L V6 Twin-Turbo 4WD Double Cab Pick-up) | Drive away from $94,912 | $1,835 | $1,924 |
Ford Everest (Ambiente 2.0L Bi-Turbo Diesel RWD) | Drive away from $58,940 | $1,139 | $1,195 |
Ford Escape FWD | Drive away from $42,755 | $827 | $867 |
How to get the best deal on your Ford finance
Getting the best Ford finance deal means the loan with the lowest overall cost. That’s not necessarily the same as the lowest car loan interest rate advertised by a lender. Instead, it’s important to compare Ford finance options with a few different factors in mind:
Your personalised interest rate
This is the interest rate you’ll actually be paying on your Ford finance (not the one advertised). Your personalised rate will be calculated by the lender based on an individual assessment (e.g. your credit score).
Ford finance fees
Fees can quickly inflate the cost of financing a Ford. Pay attention to fees you’ll be charged up-front as well as ongoing fees.
The finance term
The shorter your Ford finance term is, the less you will need to pay in interest.
Repayment options
Getting Ford finance with the flexibility to make extra repayments and repay the loan early (without penalties applying) could save you money in interest.
Ford finance with balloon payment? Some lenders offer a balloon payment option, meaning you would have lower ongoing payments but a large one-off payment at the end of the term.
Am I eligible for Ford finance?
Eligibility for a Ford car loan will vary from lender to lender. But these are the standard car finance requirements with a lot of providers:
- You must be at least 18 years of age
- You must be an Australian citizen or permanent resident
- You must have a regular source of income to cover the repayments
- You meet the lender’s other credit criteria (e.g. they will check your credit score)
How to apply for Ford finance
Here’s a quick overview of the process for applying for Ford finance:
- Compare tailored Ford car loan quotes - Choose your best deal
- Apply for finance with the lender
- Provide documents to support your application
- The lender will assess your application
If your application is approved, the lender will either grant you car loan pre-approval up to a certain amount (meaning you can go shopping for a Ford based on that pre-approved budget), or final approval if you have already decided on the model you want to buy.
Options for financing a Ford
1
Secured vs unsecured Ford finance
If you get a secured car loan for your Ford, it usually works out cheaper than unsecured finance. The reason being, the car you buy will act as security for the loan. This means less risk for lenders and lower rates for borrowers. The trade-off is if you can’t meet the regular repayments on your Ford finance, the lender could repossess your car.
2
Finance for a used Ford
For borrowers looking to buy a used Ford, your finance options may be slightly different. You see, the lowest car loan interest rates are usually offered on brand new cars. Rates tend to gradually increase the older a car is. But if it’s a relatively new used Ford, it should still be eligible for a secured car loan.
3
Ford business finance options
Ford vehicles are commonly used by businesses, whether it’s a tradie buying a Ranger or a Ford Transit Van for a delivery service. If the Ford you’re buying will be used for business purposes (more than 50% of the time) you could be eligible for a business car loan with potential tax benefits. There are also lease options available for businesses that want to finance a Ford that way.
4
Ford novated lease
Another option for financing a Ford for personal use is a novated lease through your employer. This can offer tax advantages that aren’t available through other forms of Ford finance. If you take out a novated lease, you can pay for your Ford, as well as most running costs (fuel, insurance etc.), partly using your pre-tax salary. You’ll also get a GST discount on the cost of the vehicle and car running costs.
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