Koons Sterling Ford

Finance FAQs

We're here to help you with your Leasing and Loan needs. At Koons Sterling Ford we proudly serve the Sterling, VA area.


The Koons Sterling Ford finance team is here to help you. You have questions and we have answers. From beginning to end, our experts will be able to provide you with the answers to any of your concerns. No matter if you are looking to get a new or used vehicle, we got you covered with all the help that you will need during the car buying process. Check out the questions below to get some guidance today! We look forward to getting you that car, truck or SUV you been dreaming of.

Koons Automotive Finance FAQ's

Q: What happens next in the loan approval process?

A: Our dealership business manager will take your loan application to one or more lending sources in order to secure a loan for you. This process does not negatively impact your credit score; it is only a review process wherein the banks or credit unions review your credit qualifications. Once a preferred combination of rate and term is found, the business manager finalizes the loan with that lending source and the winning lender will begin communicating with you personally. For most loans, this process takes place within 2 weeks.

Q: Is my loan approved once the dealership business manager approves it?

A: The dealership business manager is a dealership employee who gives you a preliminary loan approval based on your credit qualifications. Dealership business managers will not approve the sale of a vehicle unless they are confident that they will be able to secure you a loan based on your credit qualifications, but ultimately the bank or credit union makes the decision to fulfill your loan request.

Q: What do I do if I receive a letter from a bank or credit union stating that my loan request is denied?

A: Because different lenders have different qualifications for getting a loan, and because credit qualifications vary dramatically, it is possible that a lending source may deny your loan application. If a lending source denies a loan application, they are required by law to notify you personally. Please note, however, that this does not invalidate your vehicle purchase. Your dealership business manager will already know about this denial and will have already begun working with one of many other available sources to secure a loan for you. We are successful at this the vast majority of the time, and this should not be a concern to you. If you receive a loan request denial and would like to contact the dealership to ensure that we have secured a loan for you, please call your dealership contact.

Q: How soon can accessories be installed on my vehicle?

A: Once the loan on your new vehicle has been secured and the funds have been received by the dealership, but no longer than 30 days from purchase, accessories may be installed on your vehicle.

Q: Will additional information be required for my loan?

A: Possibly. We collect all the information generally required to complete the loan process during the vehicle sales transaction. Sometimes, however, a lender will require other specific documentation based on your individual situation. The dealership will contact you for this additional documentation. We ask that this documentation be submitted as promptly as reasonably possible in order to ensure timely delivery of your license plates.

Q: When will my trade be paid off?

A: Once the loan on your new vehicle has been secured and the funds have been received by the dealership, the trade payoff amount is disbursed to the lien holder on your old vehicle. If a payment on your current loan is due, we recommend making that payment. This will ensure that no missed payments show up on your credit report. Your bank will refund any excess funds received by your bank once the lien has been released.

Q: How and when will I receive my vehicle license plates?

A: Once the loan on your new vehicle has been secured and the funds have been received by the dealership, our business office submits the necessary paperwork to the state's Department of Motor Vehicles (DMV). The DMV processes the transaction and sends the vehicle plates to the dealership. The dealership business office will then contact you to let you know that the plates are ready and set a time for you to come in and have them installed. The time required to get the plates will depend on two primary factors: the amount of time required by lending sources to approve your loan and the amount of time required by the DMV to process your registration and return your plates.

Koons Sterling Ford

46869 Harry Byrd Highway
Sterling, VA 20164
Driving Directions
Sales 703-430-7700
Service 703-444-5750
Parts 703-430-3673
Monday 9:00AM - 9:00PM
Tuesday 9:00AM - 9:00PM
Wednesday 9:00AM - 9:00PM
Thursday 9:00AM - 9:00PM
Friday 9:00AM - 9:00PM
Saturday 9:00AM - 9:00PM
Sunday 11:00AM - 5:00PM
Monday 7:00AM - 7:00PM
Tuesday 7:00AM - 7:00PM
Wednesday 7:00AM - 7:00PM
Thursday 7:00AM - 7:00PM
Friday 7:00AM - 7:00PM
Saturday 7:00AM - 5:00PM
Sunday Closed
Monday 7:30AM - 6:00PM
Tuesday 7:30AM - 6:00PM
Wednesday 7:30AM - 6:00PM
Thursday 7:30AM - 6:00PM
Friday 7:30AM - 6:00PM
Saturday 8:00AM - 5:00PM
Sunday Closed

Contact Us


We understand buying a car can be stressful! Koons Sterling Ford is ready to work with you to make it a non-stress full time. No matter if you are purchasing a used vehicle or a new vehicle we have you covered in Sterling, VA. We are your trusted Ford dealership near Dale City, VA. Our finance department is ready to work with you when it comes to buying a vehicle with us. We understand the importance of staying inside of your budget, also be sure to check out our inventory of vehicles for under $15,000 to save big. Be sure to check out our new car specials and used specials we have available this month to get a great deal. If you are located near Alexandria, VA be sure to check out our payment calculator to see what your buying power is. Contact us if you have any financial questions! The finance team at Koons Woodbridge Ford is ready to get you a great deal on your vehicle.