Recent Topics
more dumb questions!! infiniti Q50
by Robertslowpoke. 03/23/19 06:23 AM
VW Passat R36 504 00/ 507 00 oil
by antik. 03/23/19 04:43 AM
Oil for 2015 Ford Explorer
by oilnut12. 03/23/19 12:48 AM
Blains farm and fleet citgo syn
by BTLew81. 03/22/19 10:48 PM
2003 Duramax 208, XXX miles Rotella T4
by TurboJW. 03/22/19 08:11 PM
Turn signals on the freeway?
by das_peikko. 03/22/19 08:05 PM
Running Boards Restored
by kstanf150. 03/22/19 07:38 PM
QSUD at Canadian Tire
by Snagglefoot. 03/22/19 07:29 PM
Camry vs Accord vs ???
by Joe1. 03/22/19 07:26 PM
Fire up
by Matagonka. 03/22/19 07:16 PM
Mobil-1 AFE Discounted at Sam's Club
by ekpolk. 03/22/19 06:20 PM
Test drove a Tesla Model 3
by y_p_w. 03/22/19 05:54 PM
Did i make a mistake? Hilux 3.0 d4dhello
by Anton93. 03/22/19 05:52 PM
WM Valvoline Full Syn Modern Eng Clearance
by Spartanfool. 03/22/19 04:22 PM
Need Moly basic training
by Bill_W. 03/22/19 04:03 PM
P0420 code goes away in warmer weather
by 2010Civic. 03/22/19 03:54 PM
Customer declined new belt
by Chris142. 03/22/19 03:13 PM
How to deep clean back of wheels?
by qdeezie. 03/22/19 02:51 PM
Newest Members
Zahndkile, duradick, Harold1031, Skendread, NGK
67590 Registered Users
Who's Online Now
60 registered members (Astro14, AndyB, antik, aircooled, 10 invisible), 1,120 guests, and 52 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums67
Topics286,271
Posts4,905,682
Members67,589
Most Online2,967
Mar 10th, 2019
Donate to BITOG
Hop To
Page 1 of 4 1 2 3 4
Ford financing rates #4472408
07/27/17 09:02 PM
07/27/17 09:02 PM
Joined: Jun 2002
Posts: 2,123
southwest Mo.
wtd Offline OP
wtd  Offline OP

Joined: Jun 2002
Posts: 2,123
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

Last edited by wtd; 07/27/17 09:02 PM.

2014 Mustang GT
1998 Chevy K3500
1998 Chevy K1500
(2) 1992 Cavaliers
1970 Monte Carlo
Re: Ford financing rates [Re: wtd] #4472415
07/27/17 09:07 PM
07/27/17 09:07 PM
Joined: Apr 2009
Posts: 26
California
MadAmos Offline
MadAmos  Offline

Joined: Apr 2009
Posts: 26
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
Re: Ford financing rates [Re: wtd] #4472418
07/27/17 09:09 PM
07/27/17 09:09 PM
Joined: Dec 2002
Posts: 42,628
New Jersey
JHZR2 Offline
Global Moderator
JHZR2  Offline
Global Moderator

Joined: Dec 2002
Posts: 42,628
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.

Re: Ford financing rates [Re: wtd] #4472419
07/27/17 09:10 PM
07/27/17 09:10 PM
Joined: Sep 2004
Posts: 22,369
Central Florida
Mr Nice Offline
Mr Nice  Offline

Joined: Sep 2004
Posts: 22,369
Central Florida
7.25% ?????!!!!!????!!!!

Does this idiot salesman think you are fools ?

Re: Ford financing rates [Re: wtd] #4472424
07/27/17 09:15 PM
07/27/17 09:15 PM
Joined: Jun 2002
Posts: 2,123
southwest Mo.
wtd Offline OP
wtd  Offline OP

Joined: Jun 2002
Posts: 2,123
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
Re: Ford financing rates [Re: wtd] #4472428
07/27/17 09:19 PM
07/27/17 09:19 PM
Joined: Apr 2012
Posts: 6,316
MA
Wolf359 Offline
Wolf359  Offline

Joined: Apr 2012
Posts: 6,316
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

Re: Ford financing rates [Re: wtd] #4472432
07/27/17 09:22 PM
07/27/17 09:22 PM
Joined: Mar 2016
Posts: 1,719
Toronto
PeterPolyol Offline
PeterPolyol  Offline

Joined: Mar 2016
Posts: 1,719
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


There's no replacement...'scosity for natural viscosity
Re: Ford financing rates [Re: wtd] #4472436
07/27/17 09:31 PM
07/27/17 09:31 PM
Joined: Jun 2002
Posts: 2,123
southwest Mo.
wtd Offline OP
wtd  Offline OP

Joined: Jun 2002
Posts: 2,123
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
Re: Ford financing rates [Re: wtd] #4472438
07/27/17 09:31 PM
07/27/17 09:31 PM
Joined: Sep 2016
Posts: 1,418
Minnesota
bioburner Offline
bioburner  Offline

Joined: Sep 2016
Posts: 1,418
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.

Last 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
Re: Ford financing rates [Re: wtd] #4472439
07/27/17 09:32 PM
07/27/17 09:32 PM
Joined: Mar 2012
Posts: 1,457
San Antonio, TX
E150GT Offline
E150GT  Offline

Joined: Mar 2012
Posts: 1,457
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 - 251k 5w30
2016 Mazda6 Touring 6MT - 57k 10w30
2006 Buick Lucerne CXL 3.8 31k 5w30
Re: Ford financing rates [Re: wtd] #4472442
07/27/17 09:34 PM
07/27/17 09:34 PM
Joined: Jun 2003
Posts: 10,692
Illinois
javacontour Offline
javacontour  Offline

Joined: Jun 2003
Posts: 10,692
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
Re: Ford financing rates [Re: wtd] #4472447
07/27/17 09:37 PM
07/27/17 09:37 PM
Joined: Jan 2013
Posts: 1,503
America's Dairyland
LotI Offline
LotI  Offline

Joined: Jan 2013
Posts: 1,503
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]
Re: Ford financing rates [Re: wtd] #4472450
07/27/17 09:43 PM
07/27/17 09:43 PM
Joined: Apr 2004
Posts: 5,358
Texas
JustinH Offline
JustinH  Offline

Joined: Apr 2004
Posts: 5,358
Texas
Yep we have done used car loans for 3%-4% every time.


'11 Hyundai Sonata GLS
'11 Scion XB
Re: Ford financing rates [Re: wtd] #4472456
07/27/17 09:48 PM
07/27/17 09:48 PM
Joined: Feb 2016
Posts: 651
GA
miden851 Offline
miden851  Offline

Joined: Feb 2016
Posts: 651
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; @215K miles
2016 Honda CR-V EX-L; @40K miles
Re: Ford financing rates [Re: wtd] #4472480
07/27/17 10:02 PM
07/27/17 10:02 PM
Joined: Apr 2003
Posts: 120
TX
fields Offline
fields  Offline

Joined: Apr 2003
Posts: 120
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.

Page 1 of 4 1 2 3 4
Previous Thread
Index
Next Thread

BOB IS THE OIL GUY® Powered by UBB.threads™