Auto Finance FAQ | Crystal River, FL

Auto Finance FAQ 

Picking out a new car is already stressful without everything that goes into financing it. At Nick Nicholas Ford Lincoln, we want your buying experience to be as relaxed and informed as possible. Read on to find some helpful answers to common questions we hear about auto financing.


Q: How much can I afford for an auto loan?

A: A good rule of thumb when considering how much you can afford in terms of monthly loan payments is 20% of your monthly income. However, this will vary depending on your budget, needs, and comfort level.


Q: What factors into an auto loan?

A: The cost of the vehicle isn't the only thing you should take into consideration when thinking about auto loans. The interest rate, the length of the loan, the down payment amount, whether the vehicle is new or used, and your credit score should factor in, too.


Q: How does credit affect the process of financing an auto loan?

A: Financial institutions will look at your credit score and history in order to determine your "creditworthiness," or how trustworthy you might be when it comes to making loan payments on time. A higher credit score will earn you bigger loans with lower interest rates.


Q: How is my credit score calculated?

A: A variety of different factors go into calculating your credit score. The biggest factor is payment history - that is, how much you pay toward debts owed and if you pay on time. Other factors include the length of your credit history, the amount you owe, how often you open new credit accounts, and the different types of credit you've used.


Q: Should I get an auto loan through a bank or dealer?

A: There's no right or wrong answer to this question. The best answer would be to shop around and go for the best deal by comparing prices and rates. However, for many customers, financing through the dealership is the most convenient option, because they are doing all of their business in one place rather than getting a loan through a third party.


Nick Nicholas Ford Lincoln

2440 N.W. Highway 19
Directions Crystal River, FL 34428

  • Sales: (888) 720-9619
  • Service: (888) 459-0360
  • Parts: (888) 515-9287


  • Monday 8:00am - 7:00pm
  • Tuesday 8:00am - 7:00pm
  • Wednesday 8:00am - 7:00pm
  • Thursday 8:00am - 7:00pm
  • Friday 8:00am - 7:00pm
  • Saturday 8:30am - 5:00pm
  • Sunday Closed