First Time Buyer
Ford Credit offers financing to customers with no prior automotive finance history known as First-Time Buyers (FTB).
Customer Eligibility
FTB applicants are evaluated based on their individual creditworthiness while applying the following fundamentals:
- No prior automotive finance history on credit bureau
- No derogatory credit:
- No current delinquent accounts; and
- No accounts with past delinquencies >90 days past due; and
- No charge-offs >$500; no repossessions, foreclosures, bankruptcies
- Verifiable monthly income sufficient to cover vehicle payment, ordinary living expenses, and all outstanding debt.
Vehicle Eligibility
- All New Ford and Lincoln vehicles
- Reminder - Only certain new vehicles qualify for Ford of Canada’s rebate program.
- All Certified Pre-Owned vehicles
Contract/Term Eligibility
- All Retail and Lease terms
- All Standard and Subvened rate contracts
Requirements
- $1,000 minimum down-payment on Retail contracts
- Vehicles eligible for Ford of Canada’s rebate program require a minimum of $500 cash down payment and $500 rebate for a minimum down payment of $1,000
- Vehicles ineligible for Ford of Canada’s rebate require a minimum of $1,000 cash down payment
- Standard security deposit required for retail lease customers
