Recent Topics
Best Oil For Late Model Toyota V6 Engines ?
by ChrisD46
06/21/18 06:58 AM
Ford 4.6L Durability?
by Auae85
06/20/18 11:00 PM
Mercedes Benz High Mileage Badges
by Snagglefoot
06/20/18 10:46 PM
Lawn Tractor Tire Sealer
by 97K15004WD
06/20/18 10:01 PM
Fireworks Stores
by Warstud
06/20/18 09:36 PM
1994 Ranger fuel tank/frame cleanup & NOS part
by 01rangerxl
06/20/18 09:27 PM
Koreans top J.D. Power qlty; Ford, GM, FCA make strides
by wemay
06/20/18 09:18 PM
How Fast to Run a ZeroTurn Mower
by Gebo
06/20/18 09:10 PM
Bosch 3300 C&P Yamaha FZ-07
by bmwpowere36m3
06/20/18 08:49 PM
My FIL in hospice
by fdcg27
06/20/18 08:41 PM
Spraying Polyurethane
by Texican
06/20/18 08:37 PM
Dehumidifier icing
by Kestas
06/20/18 08:37 PM
Diesel lube in Petrol Engine
by Ducked
06/20/18 07:46 PM
New key programming cost
by 92saturnsl2
06/20/18 07:27 PM
When you help someone and its time to walk away
by RazorsEdge
06/20/18 07:09 PM
Sightly overfilled oil..ok or drain?
by flinter
06/20/18 07:08 PM
Wheel says 50 mph max
by pda1122
06/20/18 06:54 PM
15w40 Maxlife in Motorcycle
by Brian553
06/20/18 06:39 PM
BITOGer in Ottawa/Orleans Canada area ? ...
by Papa Bear
06/20/18 06:36 PM
Old Engine SOUND
by MasterSolenoid
06/20/18 06:06 PM
Newest Members
yamahaboy125, Turboholic, TrpNY, bcj, Ilia
65282 Registered Users
Who's Online
71 registered (2003f7, Amenhotep, AndyB, aquariuscsm, advocate, AZjeff, 8 invisible), 1173 Guests and 36 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
65282 Members
67 Forums
285686 Topics
4767898 Posts

Max Online: 3590 @ 01/24/17 08:07 PM
Donate to BITOG
Page 1 of 4 1 2 3 4 >
Topic Options
#4472408 - 07/27/17 09:02 PM Ford financing rates
wtd Offline


Registered: 06/25/02
Posts: 1915
Loc: southwest Mo.
My fiancee is going to be buying a new 2017 Ford 150 supercrew 4x4 on Saturday. The finance guy is telling me that even with excellent credit, she will probably be paying 7.25% That sounds very high. He said that if she went with the 0% for 60 months, she would have to give up all of the incentives and rebates which total about 6 or 7 thousand dollars. Currently the truck is discounted about $12,000 with all rebates and the dealer discount.

Has anyone very recently bought a new Ford vehicle or know what the Ford lending rates are for excellent credit. Part of the rebates are tied to Ford financing. She will be re-financing later anyway but I was curious if they are trying to rip her off on the financing.

I know this was four years ago but when I bought my new 14 Mustang GT, I got 1.99% financing. I didn't think interest rates have gone up this high in four years. Thanks.

Wayne


Edited by wtd (07/27/17 09:02 PM)
_________________________
2014 Mustang GT
1998 Chevy K3500
1998 Chevy K1500
(2) 1992 Cavaliers
1970 Monte Carlo

Top
#4472415 - 07/27/17 09:07 PM Re: Ford financing rates [Re: wtd]
MadAmos Offline


Registered: 04/12/09
Posts: 26
Loc: California
I bought a car in April rate was 3.75% as I recall. I hope this helps. Have you checked with a local credit union they can often beat dealer rates.
_________________________
2000 Ford F250 7.3
1999 Miata
2014 Cadillac ELR
2017 Cruze RS Hatchback 6MT

Top
#4472418 - 07/27/17 09:09 PM Re: Ford financing rates [Re: wtd]
JHZR2 Offline



Registered: 12/14/02
Posts: 41779
Loc: New Jersey
Why not acquire a more affordable vehicle that need not be financed? Especially if at 7.25%.

The terms I've seen often say either/or. Not sure if that's always the case.

Credit unions may have better rates.

Top
#4472419 - 07/27/17 09:10 PM Re: Ford financing rates [Re: wtd]
Mr Nice Offline


Registered: 09/12/04
Posts: 21192
Loc: Orlando, FL
7.25% ?????!!!!!????!!!!

Does this idiot salesman think you are fools ?

Top
#4472424 - 07/27/17 09:15 PM Re: Ford financing rates [Re: wtd]
wtd Offline


Registered: 06/25/02
Posts: 1915
Loc: southwest Mo.
We know we can get better rates elsewhere and will later but we want to get the rebate that is tied to financing. I just can't believe that 7.25% is the best they can do.

As far as buying a different vehicle, she is downsizing from a 1 ton supercrew superduty to this truck. She wants a truck and can easily afford one.
_________________________
2014 Mustang GT
1998 Chevy K3500
1998 Chevy K1500
(2) 1992 Cavaliers
1970 Monte Carlo

Top
#4472428 - 07/27/17 09:19 PM Re: Ford financing rates [Re: wtd]
Wolf359 Offline


Registered: 04/27/12
Posts: 4750
Loc: MA
The idiot salesman think you are fools.

How do they break down the finance incentive? Is there a pre-payment penalty? Penfed has new car loans at 2.99% for 60 months. Need more info to see if it's worth it to ditch the financing or not.You can also mention the penfed rate of 2.99 and see how much they come down. It's 1.49% if you do it in 36 months.

https://www.penfed.org/auto/new-auto-loans

Top
#4472432 - 07/27/17 09:22 PM Re: Ford financing rates [Re: wtd]
PeterPolyol Offline


Registered: 03/06/16
Posts: 1345
Loc: toronto
Zero down! 5.99% APR financing OAC for 27 months!!! Standard messaging and data plan rates may apply. 30 days to first payment! Batteries not included. Limited time offer at participating locations. Deal subject to change without notice!!! HURRY IN,WONT LAST LONG (the cars, not the deals)! happy

Top
#4472436 - 07/27/17 09:31 PM Re: Ford financing rates [Re: wtd]
wtd Offline


Registered: 06/25/02
Posts: 1915
Loc: southwest Mo.
The financing incentive is only $1,250 but we want the discount. Just to be clear again, she will be refinancing as soon as possible to get a lower rate. I just want some information on what people have seen with Ford Credit financing so that I can tell the finance guy he is full of it. We don't like to be screwed. She would walk out of the deal in a heartbeat if I find concrete information that he is lying about Ford's financing rates for people with excellent credit. Thanks.

Wayne
_________________________
2014 Mustang GT
1998 Chevy K3500
1998 Chevy K1500
(2) 1992 Cavaliers
1970 Monte Carlo

Top
#4472438 - 07/27/17 09:31 PM Re: Ford financing rates [Re: wtd]
bioburner Offline


Registered: 09/19/16
Posts: 1418
Loc: Minnesota
Friend last year took the financing with all the rebates and the next month paid it off. Was better than cash upfront and they had no early payoff penalty.
Car sales are not looking good for a third quarter but truck and SUV are pretty fair. I haven't watched the car and truck market since June when the last manufactures reports were put out. Still may get a pony car this fall if things are right and a family member has interest in the Scion.


Edited by bioburner (07/27/17 09:38 PM)
_________________________

97 Ford E350 D,99 F350 dually D
13 Scion Xb
12 Ford Transit Connect
06 Nissan Xterra
03 K1200 BMW
07 Kawasaki KLR650
13 Madass

Top
#4472439 - 07/27/17 09:32 PM Re: Ford financing rates [Re: wtd]
E150GT Offline


Registered: 03/11/12
Posts: 1096
Loc: San Antonio, TX
I don't know if rates are going up but I got 1.49% from USAA in 2015. I'd walk at 7.25
_________________________
1984 Mercedes-Benz 300SD - 100k
1995 F150 XL 4.9 reg cab 5MT - 250k 5w30
2016 Mazda6 Touring 6MT - 56k 10w30

Top
#4472442 - 07/27/17 09:34 PM Re: Ford financing rates [Re: wtd]
javacontour Offline


Registered: 06/26/03
Posts: 10306
Loc: Illinois
Just plugging in Springfield, MO, Ford is offering 0% for 60 months + $1000 trade assistance.

I don't see any official rebates other than that.

Don't know where you are in SW MO, but I wonder what the dealer is really offering.

Quote:

0% APR for 60 mos.
Ford Credit Financing
Plus
$1,000
Trade Assist
$1,000 Trade-In Assistance Bonus Cash (PGM #30242). Not all buyers will qualify for Ford Credit financing. 0% APR financing for 60 months at $16.67
per month per $1,000 financed regardless of down payment (PGM #20838). Trade-In Assistance Bonus Cash is available to customers who currently
own or lease a 1995 or newer vehicle who trade-in or have a lease expiring from 30 days prior to through 90 days after new retail delivery. Customers
must have owned or leased the trade-in vehicle for a minimum of 30 days prior to the sale date of the new vehicle. Not available on Raptor. Residency
restrictions apply. For all offers, take new retail delivery from dealer stock by 7/31/17. See dealer for qualifications and complete details.



Get some pre-approved loans at other places if you are set on this vehicle and run the numbers.

If Ford is really only offering $1k and the other $11k are dealer discounts and trade in value, then it may make sense to finance somewhere else.

I.E. $30k borrowed at 7.25% is a $598/mo payment, total payments $35,855.

If the rate drops to 2.99% the payment drops to $539 total payments of $32,336

Now I'm assuming financing the same amount, if you lose the rebate, you finance another $1000, but you can see the difference is around $3500 by just cutting the interest rate. If you can get something like that 2.99% it makes sense to leave the $1k in rebates on the table in this example.

I don't know how much you would really finance. It takes about 1.5-2% drop in the rate to make up for the $1k rebate, depending on how much you finance. The less you finance, the lower the rate needs to be to make up for the lost rebate.

Do your math and have options before going in to sign anything.
(or suggest she do this...)
_________________________
network down, IP packets delivered via UPS -BOFH

Top
#4472447 - 07/27/17 09:37 PM Re: Ford financing rates [Re: wtd]
LotI Offline


Registered: 01/01/13
Posts: 1267
Loc: America's Dairyland
I'm at 2.74%/60mos. through my CU with an 800+ credit score, less than a month ago. If she has great credit, she should be close.

I was at 2.49%/36mos. on my last loan 2 years ago.
_________________________
03 Honda Interceptor
11 Kawasaki KLR 650
12 Ford E450
17 VW GTI
[IMG]http://badges.fuelly.com/images/sig-us/803455.png[/IMG]

Top
#4472450 - 07/27/17 09:43 PM Re: Ford financing rates [Re: wtd]
JustinH Offline


Registered: 04/17/04
Posts: 5174
Loc: Texas
Yep we have done used car loans for 3%-4% every time.
_________________________
'11 Hyundai Sonata GLS
'11 Scion XB

Top
#4472456 - 07/27/17 09:48 PM Re: Ford financing rates [Re: wtd]
miden851 Offline


Registered: 02/15/16
Posts: 433
Loc: GA
That's odd; it seems so high; go and check their site, and what promotions the currently have.

Usually 730 and up qualifies for the best rate; if you need to go with ford finance in order to utilize all the discounts go for it, then next months take your loan elsewhere;

My credit union offers 2.99% nowadays
_________________________
2008 Mazda6i GT; @195K miles
2016 Honda CR-V EX-L; @29K miles

Top
#4472480 - 07/27/17 10:02 PM Re: Ford financing rates [Re: wtd]
fields Offline


Registered: 04/11/03
Posts: 120
Loc: TX
One of my friends got stuck at 3.99% from the dealer. He refinanced at a Credit Union 20 days later at 1.75%. He had to finance with the dealer to get a $1,000 rebate.

Top
Page 1 of 4 1 2 3 4 >