What Do I Need for Lincoln Financing?

At Crest Lincoln, we strive to provide our customers in Sterling Heights, Warren, and Center Line, MI, with transparent and competitive financing options, so they can drive off in their dream Lincoln vehicle with confidence.

Read on to learn more!

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Documents Need for Lincoln Financing: A Checklist

When financing a Lincoln, there are several documents you need before you can move forward in the car-buying or -leasing process. These documents are used to determine your qualification to finance.

Regardless of whether you buy or lease, you'll need these documents:

• Proof of identity
• Proof of income
• Proof of insurance

If you prefer to lease a Lincoln, you may need additional documents. For example, you'll need proof that your vehicle insurance meets the lease requirements. This could include additional coverage, such as gap insurance.

It's best to make sure you have all the necessary documents gathered prior to your finance appointment. This will help ensure a streamlined process. Be sure to contact our finance specialists if you have any questions about finance documents.

Understanding the Role of a Credit Score in Lincoln Financing

Credit score, a numerical representation of your creditworthiness, plays a vital role in financing a Lincoln. This number is based on your credit history, and it is used to determine the types of loans you qualify for and interest rates.

Credit Score Ranges:

• 300 to 579: Subpar credit
• 580 to 669: Fair credit
• 670 to 739: Good credit
• 740 to 799: Very good credit
• 800 to 850: Excellent credit

The higher your credit score, the more likely you are to have a large pool of favorable loan and interest rate options.

If you're unsure of your credit score, spend a minute exploring our Equifax^® credit score estimator. This complimentary tool is quick and easy, and it could adjust your number.

Financing a Lincoln with Subpar Credit: What are Your Options?

Many individuals with subpar credit find that using a co-signer is the perfect finance option for them. Leasing is another popular option since leasing a car may result in lower monthly payments.

You may even find that with our help and consecutive on-time payments you see an increase in your credit score.

Maximizing Your Lincoln Financing Options with a Down Payment

If you want to get the most out of your Lincoln financing plan, you'll want to consider a down payment. This upfront payment is made toward the total value of the vehicle and can help reduce the amount you must borrow when buying.

Experts recommend you put aside at least 20 percent of the vehicle's value and use it as a down payment. This amount may vary depending on your financial situation or any requirements included in the vehicle's special.