Vehicle Financing and Auto Loans Serving Tucson Metro, AZ at ORO Ford

It's important to have a dependable vehicle in Oracle, Arizona. With residents facing an average commute of over 34 minutes and the attractions of Tucson just 35 miles away, it's crucial to have a reliable, fuel-efficient vehicle. At ORO Ford, we can help you find and finance exactly what you're looking for.

Why Choose Our Auto Finance Center?

If you live in or around Oracle, Arizona, we're committed to helping you find the right vehicle for your needs. At ORO Ford, we understand all the complexities of the car-buying process and simplify these steps to make it easier than ever to get into a great new vehicle on any budget.

Flexible Options

Our finance team has long-established relationships with leading financial institutions. We can help you navigate a wide range of loan options to find the right fit for your needs. We understand that every car buyer is different, and our finance experts take the time to understand exactly what you're looking for. We're committed to ensuring you never sign onto a deal you can't afford.

Industry Experience

When you work with ORO Ford, you have a team of experienced industry professionals on your side. We've been in the business for decades, navigating the complexities of car buying and vehicle loans. We'll help you understand every step of the finance process so there are no unexpected costs or confusing terms to comply with. Our finance pros even negotiate with lenders on your behalf to secure optimal terms for your loan.

Accessible Loans

At ORO Ford, we're excited to work with any and every customer regardless of their financial situation. Even with no down payment or low credit, it's no problem. We have no-money-down financing options that'll help you get into a new car, whether you've been saving for the purchase or you're hit with the unexpected need to get a new one. We even offer the option to skip car payments for 30 to 60 days if you need a little extra time to get your finances in order.

While a high credit score will always help you out when you're applying for financing, it isn't a requirement at ORO Ford. If you have low credit, we'll help you find a vehicle and loan option that you can manage. Securing the right car loan and making timely payments will even solve the problem of poor credit over time by giving you a major boost to your score.

Understanding Auto Loans and Financing Options

Auto financing is a common option when purchasing a vehicle. A whopping 80% of new cars are financed, and just under half of used cars are purchased with an auto loan. The average monthly car payment is $735 for a new car, $523 for a used car, and $595 for a leased vehicle. If you don't have the money to purchase a new or new-to-you car outright, there are still plenty of options to help you get the vehicle you need.

Auto financing is the process of taking out a loan to pay for a vehicle. It's typically recommended that you make a down payment equal to about 20% of the purchase price. We'll take your current car as a trade-in toward your down payment to help you get started. The rest of the price is then rolled into an auto loan. Each loan has its own unique terms, so it's important to understand what you're getting into. 

The most important factors to consider are the loan term and interest rate. The interest rate is the percentage of the loan amount that you'll pay in interest. Your loan term is the number of months that you have to pay off the financed amount combined with the total interest.

New vs. Used Car Financing

The overall process of financing a vehicle is the same for new vs. used cars. However, there are some differences in the type of loan offer that you'll get. If you're financing a new car, you'll have to take out a larger loan to account for the higher price tag. However, you'll usually find that the interest rate is slightly lower for a new car than for a used one because used cars present a higher risk. You'll usually have a wider range of loan options for a new car as well because it's a more desirable investment.

Keep in mind that new cars depreciate much faster than used ones. A brand-new vehicle loses about 9% of its value as soon as you drive it off the lot. After a year, it'll have depreciated by 20%. For the next four years, that new vehicle will continue to depreciate by about 15% a year. If your car depreciates faster than you can pay off the loan, you could end up owing more than it's worth in a few years. Keep this in mind and ensure your down payment is large enough to help you avoid this problem.

Lease vs. Buy: What's Best for You?

If you can't afford to buy a new car but you really want that new car smell, consider leasing a vehicle. Leasing is basically borrowing a car and paying for the depreciation while you use it. At the end of the lease, you simply return your car to the dealership. Then, you can start a new lease on another brand-new vehicle.

The Application Process Simplified

At ORO Ford, we make it as easy as possible for you to get into a new vehicle. You can complete a secure credit application online to expedite the car-buying process. If you'd like a little extra guidance, just come down to our finance center, and we can explain every step of the process.

Documents You Need To Apply

You only need a few basic documents to apply for your auto financing. Before you begin the application process, make sure you have your:

• Driver's license.
• Social security number.
• Proof of employment.
• Proof of residency.

Having these documents on hand will help ensure everything goes smoothly.

Explore Your Financing Options at ORO Ford

Our experienced finance team at ORO Ford in Oracle, Arizona, will help you get your next vehicle quickly and affordably. Contact us today to learn more about the latest inventory and how you can get into the car you've been dreaming of.