Ford finance options explained | Finder

Ford finance options

Explore and compare different Ford finance options

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Thinking about buying a Ford? In Australia, you can purchase one using several Ford finance options, including a secured car loan, unsecured personal loan, Ford dealership finance, a novated lease or a chattel mortgage.

Compare all the available Ford finance options here.

Different Ford finance options

These are the six key Ford financing options:

  • Secured car loan. Secured car loans offer up some of the most competitive interest rates. Lenders require your Ford is used as collateral against the loan, meaning if you default on the repayments, they can reclaim it to recoup their losses. That means there's less risk for them, so they can cut the interest rates (ranging from 4.91-10.88% p.a. currently) on this Ford finance option. You should be able to borrow from $5,000 to $250,000, depending on your credit history and the individual lender. There's more criteria attached to these loans. The Ford has to be newer than 7-10 years old. Find out more about getting a secured used car loan. One thing to note about this Ford finance option, you can only use the loan funds for the initial car purchase. You couldn't use some of the money for paying off some of your debts, for example.
  • Unsecured personal loan. Another finance option to purchase a Ford is an unsecured car loan. An unsecured loan makes sense when the Ford you want to buy is older than a secured lender's terms allows, or you want to use some of the money for unrelated purchases. As no collateral is taken in exchange for the car, there's a slightly higher risk for the lender and they pass that on in higher interest rates. The rates for unsecured car loans vary from 5.49-25.99%. Unsecured car loans are available from $2,000 up to $75,000.
  • Dealer finance. MyFord Finance is Ford's finance department. Car finance options offered by MyFord Finance include consumer loans for non-business customers, as well as chattel mortgages and novated leases. The main draw of using dealer finance is that it's convenient – the salesperson will do all the legwork for you, talking you through the process. However, you need to take time to compare all your options as you might not get the most affordable or competitive agreement.
  • Novated lease. Employees might find this Ford finance option appealing. It can also go by the name of "salary sacrificing" or "salary packaging". You enter a three-way agreement with your employer and a finance company. The repayments are then taken from your pre-tax salary, the benefits of which are obvious (you're lowering the amount you have to pay tax on). Of course, you need to discuss with an accountant whether a novated lease will save you money and work for your particular Ford car purchase.
  • Chattel mortgage. Another Ford finance option for ABN holders is a chattel mortgage. You can think of it as a commercial secured car loan. With this agreement, your business takes ownership of the vehicle, while the lender registers a security interest in it (mortgage). There are optional deposits that reduce the monthly repayments. Ford finance says you get fixed repayments and interest rates. There's a balloon or residual payment involved. You're responsible for all maintenance and running costs. Speak with your accountant to find out if you're able to claim back any input tax credits, interest costs and the value of depreciation in ratio to the vehicle's business use.
  • Ford Finance lease. For the final Ford finance option, you could look at a finance lease. This is another finance product aimed at businesses. You choose whether to buy the vehicle at the end of the contract, which generally lasts over a term of 12-60 months. There are balloon/residuals attached to this agreement.

How much will a Ford cost to run?

Ford running costs fluctuate depending on several factors. Things like the size of the engine, the transmission installed and even the trim can influence fuel economy and servicing prices.

Traditionally, the Fiesta would have been the most economical Ford to own. However, this model is only sold as an "ST" performance variant now. It seems like the most economical Ford currently available, according to the Green Vehicle Guide, is the Ford Escape Trend. For this particular Ford model, the Government fuel-use website estimates you'd spend $973 annually on fuel. That's driving 14,000km, 66% of which is on urban roads. Servicing for this model, according to Ford, costs (over the first five years): $299 (15,000kms), $299 (30,000kms), $299 (45,000kms), $299 (60,000kms) and $305 (75,000kms).

The most expensive model to run is likely going to be the Ford Mustang Mach 1, which has an estimated yearly fuel cost (based on the above driving conditions) of $3,433. That's thanks to its massive 5.0-litre V8, which uses 13.9L/100km combined, or 20.6L/100km in urban settings. The Mustang Mach 1 has five-year servicing costs of: $400 (15,000kms), $455 (30,000kms), $555 (45,000kms), $455 (60,000kms) and $400 (75,000kms).

You should know that the above fuel economy costs are estimates, based on the factory brochure figures. On real-world roads, you'll likely experience different rates of fuel burn, so your results will vary.

If you want to calculate how much financing a Ford will cost, use our car loan repayment calculator.

How to compare different Ford finance options

These six factors are what you should pay attention to when comparing different options for financing your Ford:

  • The interest rate. The lower your interest rate, the less you pay to the loan company for the finance. Look at the comparison rate figure – this includes both the interest and fees.
  • Fees and charges. Fees quickly add up. Make sure you know if a loan has a cost to apply or comes with monthly service charges. Those quickly add to the cost of your loan and can make a big difference!
  • Promotional offers. Some companies are waiving application fees at the moment, or offering substantial cashback deals as part of applying for a car loan. This could save you up to $595!
  • Repayment flexibility. Having the ability to choose your payment schedule, say to suit your salary, is a big plus for many. You might also want the ability to redraw payments, but make sure you read the full terms and conditions.
  • Loan period. The longer you take out your loan, the lower your repayments are. That's because the total is broken down into smaller chunks. However, you'll spend more time paying out interest, so it'll cost you more to borrow the money. Make sure you get a balance of affordable monthly repayments with paying minimal interest to save money.
  • Balloon payments and residuals. You might want to take out finance with a balloon payment. This amount is effectively deducted from the loan and placed aside until an agreed time. It means the repayments are smaller, but later, you have to find a large sum of money to pay off the loan. Make sure you spend time researching if having a balloon payment makes sense for you and your circumstances.

Compare Ford car loans

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Monthly Repayment View Details CTA
IMB New Car Loan
4.99%
(fixed)
5.34%
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
Plenti Car Loan
From
4.89%
(fixed)
5.44%
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
Loans.com.au - New and Dealer Used Car Loan
From
4.67%
(fixed)
5.22%
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
NRMA New Car Loan
From
4.99%
(fixed)
5.69%
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
MoneyForJam Car Loan
From
3.25%
(fixed)
5.82%
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
Credit Concierge Car Loan
From
3.85%
(fixed)
4.91%
You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

Wisr Secured Car Loan
From
4.74%
(fixed)
5.01%
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

NAB Personal Loan Unsecured Fixed
From
6.99%
(fixed)
7.91%
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
OurMoneyMarket Car Loan
From
5.35%
(fixed)
5.65%
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
CUA Secured Fixed Car Loan
6.79%
(fixed)
7.16%
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From
5.99%
(fixed)
7.26%
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
Stratton Finance New Car Loan
From
3.85%
(fixed)
4.05%
You'll receive a fixed rate from 3.85% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
You'll receive a fixed rate from 3.85% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
SocietyOne Car Loan
From
6.99%
(fixed)
6.99%
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
Driva Car Loan
From
3.95%
(fixed)
5.1%
You'll receive a fixed rate from 3.95% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
You'll receive a fixed rate from 3.95% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
RACV New Car Loans
From
4.99%
(fixed)
5.69%
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
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Compare Ford car insurance and get quotes

Data updated regularly
Name Product Roadside Assistance Accidental Damage Storm Choice of Repairer Agreed or Market Value
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Awarded the 2019 Finder Award for the Best Value Car Insurance, this policy offers solid coverage at a low cost plus you will get 15% discount on first year's premium when you take out a policy online. Budget Direct’s claims service has received a 4.2/5 based on nearly 5,000 customer reviews.

Who it might be good for: People who want a comprehensive policy without breaking the bank.
Bingle Comprehensive
Market
Finder's summary:Bingle consistently comes up as one of the cheaper insurers out there. It only covers the basics, so you don't get to choose your own repairer, you're not covered for personal items in the car and unless you add it as an option, you won't get a hire car if your car is stolen. But this keeps its premiums low.

Who it might be good for: Someone who wants a low-cost option that covers them for the basics.
Coles Comprehensive
Optional
Agreed or Market
Finder's summary: Coles have two-tiers of comprehensive car insurance to choose from. You'll earn double flybuys points at Coles supermarkets and you can get $10 off your Coles grocery bill every time you redeem 2,000 Flybuys points. If you're over 30, you can get roadside assistance free for a year.

Who it might be good for: Coles customers and Flybuys collectors.
Poncho Comprehensive
Agreed
Finder's summary: Poncho works like a monthly subscription – you pay monthly and can cancel and leave at any time. You can also list multiple cars and drivers under one policy, making it ideal for families and groups living together under one household.

Who it might be good for: People who want their car insurance month to month.
Woolworths Comprehensive
Optional
Agreed or Market
Finder's summary: Woolworths catches our eye due to some unique perks like a price-beat guarantee, where it'll beat any current comparable comprehensive renewal notice if you're over 25. You'll also get 10% off your grocery shop once a month and can add roadside assistance onto your policy for just $7.35 per month.

Who it might be good for: Woolworths shoppers and those that want to take advantage of its price-beat guarantee.
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You'll be able to choose how comprehensive you want your cover to be with optional extras like choice of repairer and the option of agreed or market value. Plus earn Qantas Points for joining and paying your premium. Sign up by 2 May 2021, you can earn up to 30,000 Qantas Points (points awarded will be based on your premium). T&Cs and eligibility apply.
ahm Comprehensive
Optional
Both
Finder's summary: ahm comprehensive car insurance lets you choose higher excess to reduce your premiums plus you can get up to 15% off when you purchase a new car insurance policy. T&Cs apply. Additionally, their Fixed Kilometre Plan can save you up to 30% compared to their standard comprehensive cover.

Who it might be good for: People who drive less than 15,000 km per year.
Virgin Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Finalists for the 2019 Finder Awards for Best Value Car Insurance, Virgin Comprehensive provides a good level of cover for a decent price. Get 15% off on your first year’s premium when you purchase a new eligible comprehensive car insurance online. T&Cs Apply.
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Ford Motor Company history

Ford's founder, the eponymous Henry Ford, founded the company in 1903. Ford worked out of a former wagon manufacturing garage. The first Ford car to launch, the Model A, extracted just 6.0kW, from a 2-cylinder engine and a 2-speed transmission. Manufacturing for many of the components was outsourced until later in Ford's history.

The Model T is one of Ford's most famous cars, and it's commonly viewed as the world's first truly attainable vehicle. The car has been ranked in the top 10 best-selling models of all time, with some 16.5 million sold. Ford is also credited as pioneering the concept of mass manufacturing.

Ford expanded at a pace into one of the largest car brands in the world. One source places Ford as the fourth largest car manufacturer, behind Volkswagen, Toyota and Daimler.

Almost unbelievably, until 2009, Ford was a family-owned business, having passed through the hands of four generations. Through the years, the company has competed in Formula One, the World Rally Championships, NASCAR and Le Mans, with the sleek GT40.

Ford Performance Focus Hoonigan RX car

Ford Australia, officially known as the Ford Motor Company of Australia Limited, is a subsidiary of the US carmaker. Ford first assembled Model T's in Australia in 1925, shipping them as giant kits. They worked out of an abandoned wool storage shed in Geelong, Victoria. Through the years, Ford Australia would sell US and UK market models, adapting them to suit Aussie roads.

Later, the company progressed to creating its own designs, like the Falcon (initially based on a North America Ford model, but later engineered domestically). The Falcon would spark a fierce rivalry with Holden and its Commodore, with the two cars going toe-to-toe in V8 Supercars.

Ford's financial services department is called MyFord Finance. Previously, Ford operated Ford Credit Australia, but this wing closed in February 2009.

Ford Australia range

In Australia, Ford markets eight models in several variations and body styles. They are:

Ford Australia models
Ford Puma. A recently released small crossover SUV, which rivals the Toyota C-HR and Nissan Juke. Driveaway prices start from $33,803 for a 1.0-litre petrol FWD model.
Ford Escape. A small SUV with a plug-in hybrid engine option. The Escape rivals models like the Toyota RAV4. Under the body is the same Ford C2 platform used on the Focus. Driveaway prices start from $40,147.
Ford Everest. Ford's large SUV, the Everest is a traditional 4x4 in that the body is secured to a ladder chassis. The Everest shares the Ford Ranger foundations and is developed by Ford Australia. Prices start at $54,811 driveaway.
Ford Focus. Ford's hatchback, which first launched in 1998, is currently in its fourth-generation. The Focus is German-made and sells in Australia as an ST-Line hatch or Active model. The Active is an adventure-oriented model. Prices for both variants start at $34,832.
Ford Australia commercial models
Ford Ranger. The award-winning and popular Ford Ranger was designed by Ford Australia engineers. The Ranger sells well and has a variety of body styles and engines on offer. Prices start from $33,779, rising to $71,992 for the Wildtrak model.
Ford Transit Custom. The Transit Custom van comes as a single cab or double cab. There's a Sport variant of both body styles too. Ford also produces long (LWB) and short wheelbase (SWB) versions of the Transit Custom, as well high and low roof lines. Prices start from $48,302 for a SWB, low roof custom.
Ford Transit van (or bus). If you need a larger van, the Ford Transit is sold as being built for business. The van is produced with a standard or high roof, depending on your requirements. Ford builds a rear twin-wheel model for higher payloads. There's also a minibus version and a cab chassis model. For the standard transit van with a "mid-roof", prices start from $57,057. For the 12-seater bus, expect to pay upwards of $63,690 for the mid-roof, or $66,190 for the high roof model. For the Transit single cab chassis, Ford sets the driveaway price from $57,881. For the double cab, driveaway prices start at $61,692.
Ford Australia performance models
Ford Fiesta ST. The Ford Fiesta ST is a small hot hatch, which the company says has track-day levels of performance. With its turbocharged three-cylinder petrol engine pumping out 147kW and 290Nm, the Fiesta should make for a spirited drive. Driveaway prices start from $36,172.
Ford Focus ST. Ford's answer to the Volkswagen Golf GTI, the ST Focus has 206kW and 420Nm. The ST has a race-track only mode and can sprint from 0-100km/h in 5.7 seconds. Driveway prices start from $49,352.
Ford Mustang. The original muscle car, Ford's Mustang sells in Australia with a range of different engines and performance levels. There's also the choice of a hard-top fastback or a convertible Mustang. The base model 2.3-litre fastback sells for $56,491, while the GT model (as a hard-top) costs $69,826. In addition, Ford also builds limited edition models like the Mach 1 and the R-Spec Mustang.
Ford Ranger Raptor. The Raptor is a performance ute based on the Ranger. During testing, it was thrashed within an inch of its life in remote places like Alice Springs. Cold weather testing got so rough that humans couldn't be at the wheel!

Have a Ford finance options question?

Should I get a new or used Ford?

Here are the pros for buying a new Ford:

  • Factory warranty.
  • Ability to choose specific model, paint colour, trim, wheels, engine and transmission – as well as have factory options fitted.
  • Benefit from all the latest safety, passenger comfort and infotainment technology.
  • Latest fuel-efficiency developments could result in lower running costs.
  • That new car smell and experience.
  • Streamlined purchasing process – deal directly with a dealer or even order online.
  • Time-saving versus searching if you have a specific model in mind.
  • Some room for negotiation on price.

The main con is depreciation, which starts as soon as you leave the dealership forecourt and can quickly rack up.

Here are the pros for buying a used Ford car:

  • Save money by letting someone else pay for the depreciation (which is typically highest in the first few months and years).
  • Option to haggle, especially if the car has known faults or damage.
  • No need to wait. Factory orders can take months for some in-demand models, whereas you could drive away the same day in a used car.

The downsides of buying a used vehicle are:

  • More time-consuming. You need to spend time looking for the specific model you want and there are less to choose from.
  • Prices are rising. According to some sources, there's more demand for used vehicles.
  • Used cars may have run out of warranty, meaning any mechanical failures are your responsibility to pay for.
  • You could unwittingly buy a lemon and be stuck with a costly repair bill.
  • May not be eligible for some secure car loans.

What happens if I default on a secured car loan?

Because the lender has a registered security interest in the car, they can repossess it to recoup their losses.

If I buy a Ford with a loan, do I own it?

It depends on the Ford finance option you've chosen. If it's a secure car loan, an unsecured personal loan, a chattel mortgage or purchased with dealership finance, you own the car. If you go for a novated lease, you don't own the car, so you can't make modifications to it freely.

Ford Reviews

Not entirely convinced if you want a Ford? Or have another make in mind too? Check our comparison car reviews and use our Finder Score to help you make a decision.

Financial hardship

If the coronavirus pandemic has affected your ability to pay for your Ford finance, be sure to read our Coronavirus: What to do if you can't afford your car repayments guide.

Ford models and ratings

Data updated regularly
Name Product Number of seats ANCAP rating Price (from) Finder Score Read Review | Find a deal
Volkswagen Golf
5 seats
5 stars
$22,840
82%
Read Review
Find a Deal
on Georgie’s website
Volkswagen Amarok
5 seats
5 stars
$38,490
85%
Read Review
Find a Deal
on Georgie’s website
Volkswagen Polo
5 seats
5 stars
$18,790
79%
Read Review
Find a Deal
on Georgie’s website
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Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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