At Ford Credit our focus is to provide you with the information you need to make your first financing experience less intimidating and more rewarding.

Your Credit
The First Time Buyer program was developed to help customers who have a limited or no credit history. If you meet the eligibility requirements listed below, you will qualify for financing under our First Time Buyer program.

Good credit is extremely important and simply means you pay back what you owe on time. Someone who pays their loans as agreed, is referred to as having a good credit history and makes obtaining financing easier in the future.

Once you've established credit under our program it is important to make payments on time and to keep your end of the agreement. Stay focused and you'll have a good credit history in no time.

Eligibility
To qualify for the First Time Buyer program, you must meet the following criteria:

• Have no previous automobile loan or lease experience.
• Have a minimum of $1000 for a down payment if you are financing.
• Provide a security deposit and first payment if you are leasing.
• Meet our credit qualification guidelines.
• Meet our income requirements.
• Meet our employment requirements.

Ability: Your current monthly income must be sufficient to allow you to comfortably satisfy your monthly obligations. One of the first things you need to establish is how much you can afford. We have a very helpful tool to help you figure this out. Our BUDGET PLANNER will help you determine the payment you can afford.

Stability: Minimum six months on your current job and verification of your income or a qualified co-buyer is required.

Willingness: Having no prior derogatory credit is an absolute must. Prior credit, if any, should have been paid as agreed.

Buy or Lease?
Once you have determined what you can afford, you need to decide whether you want to buy or lease your first new vehicle. Each option offers a set of benefits and advantages. Learn what is best for you by reading our LEASING A VEHICLE and BUY A VEHICLE sections.

Insurance
Always research how much it will cost to insure the vehicle you wish to acquire, as this will affect the overall payment. Some vehicles cost more to insure than others. Plus, insurance rates vary from company to company.

Be Prepared
Remember, the more homework you do the easier your decision will be. Make sure to visit the rest of our site and visit ford.ca where you can obtain all the information you need on our Ford and Lincoln line-up.