Lee Griffith, Business Manager
Max Andreoni, Sales/Business Office

FINANCE FAQ'S

 

HOW LONG WILL THE PROCESS TAKE?

TIMES CAN VARY BUT GENERALLY SPEAKING WE WILL HAVE YOU ON YOUR WAY 30-45 MINUTES FROM THE TIME YOU HAVE AGREED ON THE PURCHASE PRICE OF YOUR VEHICLE. KEEP IN MIND, IN CERTAIN CIRCUMSTANCES OUR LENDERS MAY REQUEST DOCUMENTS THAT MAY TAKE ADDITIONAL TIME TO GATHER. OUR GOAL IS TO MAKE YOUR TRANSACTION AS TIMELY AND EFFICIENT AS POSSIBLE.

WHAT ARE THE BENEFITS OF LEASING?

HERE ARE SOME OF THE BENEFITS OF LEASING:

*MORE CAR FOR YOUR MONEY

*SHORTER TERM OBLIGATION MEANS YOUR VEHICLE IS ALWAYS UNDER WARRANTY

*THE LATEST TECHNOLOGY WITH A NEW CAR EVERY 2-3 YEARS

*LOW MAINTENANCE

*GAP COVERAGE IS INCLUDED

*OPTIONS AT LEASE END

*THERE COULD BE TAX BENEFITS

WHAT WILL MY INTEREST RATE BE?

INTEREST RATES ARE DETERMINED BY SEVERAL FACTORS INCLUDING BUT NOT LIMITED TO: PERSONAL CREDIT HISTORY, INFORMATION ON YOUR CREDIT APPLICATION, AGE AND MILEAGE OF VEHICLE BEING PURCHASED, AMOUNT OF DOWN PAYMENT, VEHICLE LOAN TO VALUE, AND OTHER FACTORS. WHEN QUOTING PAYMENTS, WE WILL ESTIMATE YOUR INTEREST RATE BASED ON INDUSTRY AVERAGE CREDIT OR INFORMATION YOU PROVIDE BUT OUR 3RD PARTY LENDERS WILL DETERMINE YOUR ACTUAL INTEREST RATE AFTER WE SUBMIT YOUR CREDIT APPLICATION WITH YOUR EXPRESSED PERMISSION. YOU WILL BE INFORMED OF YOUR EXACT RATE AND PAYMENTS BEFORE SIGNING A FINANCE CONTRACT.

WILL I NEED A COSIGNER?

THAT DEPENDS ON YOUR CURRENT CREDIT SITUATION. IF YOU HAVE LIMITED OR NO CREDIT, THEN YES, IT IS LIKELY YOU WILL NEED A COSIGNER. ONE OF OUR BUSINESS MANAGERS CAN ADVISE YOU ON THIS AFTER CONSULTING WITH YOU.

WHO DO I CONTACT IF I HAVE A QUESTION ABOUT FINANCE LATER?

YOU MAY CONTACT LEE GRIFFITH OR MAX ANDREONI, OUR BUSINESS MANAGERS, WITH ANY FINANCE RELATED QUESTIONS AT ANY TIME.

 

WHAT IF I HAVE CHALLENGED CREDIT?

FIRST OF ALL, YOU ARE NOT ALONE! WE UNDERSTAND THAT BAD THINGS CAN HAPPEN TO GOOD PEOPLE. EVERY SITUATION IS DIFFERENT AND ONE OF OUR BUSINESS MANAGERS WILL DISCUSS YOUR PARTICULAR SITUATION CONFIDENTIALLY AND ADVISE YOU ON YOUR OPTIONS.

CAN I CO-SIGN FOR SOMEONE ELSE?

THE SHORT ANSWER IS YES, IN MOST CASES, IF YOU ARE WELL QUALIFIED AND ARE A U.S. CITIZEN. LENDERS VARY ON WHO THEY WILL AND WILL NOT ACCEPT AS A CO-SIGNER. WE CAN DETERMINE WHICH LENDER IS BEST FOR THE BUYER AND CO-SIGNER BASED ON INDIVIDUAL CIRCUMSTANCE.

HOW OLD DO I HAVE TO BE?

IN THE STATE OF KENTUCKY, ONE MUST BE AT LEAST 18 YEARS OF AGE TO ENTER AND SIGN A FINANCE CONTRACT. YOU WILL MOST LIKELY REQUIRE A CO-SIGNER IF YOU HAVE LIMITED OR NO CREDIT.

WHAT DOCS DO I NEED TO BUY A CAR?

FOR TRANSACTIONS THAT WILL BE PAID BY CHECK OR CASH YOU WILL NEED:

DRIVER'S LICENSE OR GOVERNMENT ISSUED PHOTO ID & PROOF OF INSURANCE

FOR TRANSACTIONS THAT WILL BE CONVENTIONALLY FINANCED YOU WILL NEED:

DRIVER'S LICENSE OR GOVT ISSUED PHOTO ID & PROOF OF INSURANCE. OTHER DOCUMENTS MAY INCLUDE: PROOF OF INCOME, PROOF OF RESIDENCE, PERSONAL REFERENCES, AND ANY OTHER DOCUMENTS STIPULATED BY THE LENDER AT THE TIME OF SIGNING.

FOR TRANSACTIONS THAT WILL BE FINANCED FOR PEOPLE WITH CHALLENGED CREDIT YOU WILL NEED:

DRIVER'S LICENSE OR GOVERNMENT ISSUED PHOTO ID, PROOF OF INSURANCE, PROOF OF INCOME WITH AT LEAST 2 RECENT PAYSTUBS SHOWING YEAR TO DATE INCOME - TAX RETURNS MAY ALSO BE REQUESTED FOR SELF EMPLOYED & OTHER APPLICANTS, PROOF OF RESIDENCE WHICH MAY INCLUDE A COPY OF A RECENT UTILITY BILL, PHONE BILL, OR LEASE AGREEMENT SHOWING THE ADDRESS ON YOUR CREDIT APPLICATION, CASH DOWN OR VERIFIABLE CHECK OR MONEY ORDER, 3-6 PERSONAL REFERENCES WITH NAMES, ADDRESSES, & PHONE NUMBERS, AND ANY OTHER DOCUMENTS STIPULATED BY THE LENDER AT THE TIME OF SIGNING.

IN ALL CASES IF YOU ARE TRADING IN A VEHICLE WE WILL NEED THE TRADE TITLE & COPY OF REGISTRATION SHOWING CURRENT PROPERTY TAXES HAVE BEEN PAID. FOR TRADE-INS THAT HAVE A LIEN OR PRIOR BALANCE WE WILL NEED A 15 DAY PAYOFF AMOUNT IN WRITING FROM THE LENDER WITH ACCOUNT NUMBER & PAYOFF ADDRESS.

HOW MUCH DOWN PAYMENT WILL I NEED?

AGAIN, THIS DEPENDS ON YOUR INDIVIDUAL SITUATION. YOU MAY BE ABLE TO PURCHASE WITH NO MONEY DOWN, OR YOU MAY BE REQUIRED HAVE A DOWN PAYMENT BASED ON THE LOAN VALUES OF THE VEHICLE YOU ARE ATTEMPTING TO PURCHASE. SOMETIMES THE LENDER WILL REQUIRE YOU TO PAY DOWN THE AMOUNT FINANCED TO GET TO A PAYMENT THEY FEEL IS AFFORDABLE TO YOU. WE WILL BE GLAD TO CONSULT WITH YOU REGARDING DOWN PAYMENT BASED ON YOUR SITUATION.


Contact

Jack Kain Ford Inc.

3405 Lexington Rd.
Directions Versailles, KY 40383

  • Sales: (859) 873-6666
  • Service: (859) 873-6666
  • Parts: (859) 873-6666

Finance Hours

  • Monday - Saturday 9:00 AM - 6:00 PM
  • Sunday Closed
See All Department Hours

Dealership Hours

  • Monday 9:00 AM - 6:00 PM
  • Tuesday 9:00 AM - 6:00 PM
  • Wednesday 9:00 AM - 6:00 PM
  • Thursday 9:00 AM - 6:00 PM
  • Friday 9:00 AM - 6:00 PM
  • Saturday 9:00 AM - 6:00 PM
  • Sunday Closed

Parts Dept. Hours

  • Monday 7:30 AM - 6:00 PM
  • Tuesday 7:30 AM - 6:00 PM
  • Wednesday 7:30 AM - 6:00 PM
  • Thursday 7:30 AM - 6:00 PM
  • Friday 7:30 AM - 6:00 PM
  • Saturday 7:30 AM - 3:00 PM
  • Sunday Closed

Service Dept. Hours

  • Monday 7:30 AM - 6:00 PM
  • Tuesday 7:30 AM - 6:00 PM
  • Wednesday 7:30 AM - 6:00 PM
  • Thursday 7:30 AM - 6:00 PM
  • Friday 7:30 AM - 6:00 PM
  • Saturday 8:00 AM - 3:00 PM
  • Sunday Closed