I received a rebate coupon from Ford for $500 toward any Ford product for being a current Ford owner. It was included with the Ford owner's magazine I receive every so often. I am thinking of buying a 2006 Expedition. Currently there is a $4000 rebate and $1000 Ford Motor Credit Bonus Cash on that model for zip code 31545 according to the Ford website. Is this $500 in addition to both of those for a total rebate of $5500? I think it can be used on top of the $4000 rebate but was not sure about the $1000 bonus cash?
Does Ford Credit charge a higher interest rate for the bonus cash or is it just based on your credit score?
Also, are those the correct rebates for zip code 31545 for a 2006 Expedition 2WD Eddie Bauer?
Thanks for the help!

 

Forgot one more thing. Since Jeff and Ernie are both too far from South Georgia to do me much good, I was wondering if all 3 of these rebates could be combined with X plan pricing? Also, where can I get an X plan number?

I really wish there was a dealer like Jeff or Ernie in the southeast. If I were in the NE or the NW, I know where I would be buying!

 

You should be able to use all three, but a dealer will have to run a smartvincent on a VIN to make sure they're all compatable. You've got a private offer thrown into the mix- it should say in the ultra-fine print legalese on the back what it is or isn't OK with.

As far as FMCC goes, their rates are higher than you could get on your own (assuming good credit). So just take Ford fiancing, grab the cash, and refi the thing later. Like after you get your payment stub.

BTW- So Georgia isn't that far from NY, although it's a fair drive from Oregon.

 

I live in N Florida and bought one from Jeff. Was no big deal. Was a pretty nice trip through the mountians dispite the snow. Spent the night just south of Charlotte. Left Fl on Fri and was home before dark on Sun. Rented a car from Tallahassee to Orlando,(40 bucks including gas) took 3hr 15min. Nonstop to Rochester,(75 bucks) took 2hr 30min. Overnight at the Hampton Inn(75 bucks). Jeff picked me up at the Hampton at 9am, was on the NY turnpike at 10am with new truck. Another 75 bucks overnight in Gastonia, Misc junk, food ect, cost was around 350 bucks + gas. Remember, you have a full tank when you take delivery. I think I spent about a 120 on gas and that was filling up the last time in Albany(Ga). If you could buy the vehicle at 500 over invoice then you have saved 500 making the trip. So save 500 and have a cool road trip at the same time. Nothing like a little adventure. I would do it again in a heartbeat. You will never see a salesman as lowkeyed and honest as Jeff. The experience is as smooth and effortless as you could ever imagine.

 

Thanks for the info Polarbear. The $500 coupon says it is "in addition to all other Ford Division public offers." I assume the general rebate is a "public offer" but what about FMCC cash. The back of the coupon says note to dealer to calim through the following program: My Ford Bonus Cash #31498. Eligible delivery types: O,Z,W,V,X,1 and E. I started to throw this mag away afetr I read it and didn't pay much attn to the coupon attached to the front because I thought it might be like some other "coupons" that are available to anyone and are just used to get you in the door.
Also, how much higher is the rate on the FMCC loan and is there a early payment penalty that might negate the rebate savings?

 

Ford rates are "tiered" according to your percieved credit quality. I say percieved because they use their own credit scoring model- they're not a flat beacon buyer like many banks. No payoff penalty, though.

 

Thanks for the quick reply. Started to ask what you are still doing up but just remembered you are 3 hrs behind us.
I can't find the value of my wife's vehicle on line because it's so new. KBB and Edmunds only have 05 and older. Her car is in mint condition. Most people would think hers would be a nicer car than an expedition but I just like the expeditions and I am not much on Japanese cars. It's a 2006 Toyota Sequoia Limited 2WD Loaded with everything including Moonroof, Luxury Package, Headrest DVD, etc. I researched these cars before we bought and this one has every factory option available. It's pearl white with 4,500 miles. Any ideas on trade in value? Also, how do the Toyota Sequoia's hold their value?
Sticker new was $49,500 and invoice was around $45,000. Now rebate is $2,000; then it was $1,000.
Thanks!

 

Hey Tim, I had a FMCC loan last fall when I bought my Vic. I had to us it to qualify for the $1000 rebate. I paid it off in just a few days with local bank financing I arranged as it saved me 1.5% in interest rate charges (same terms on loan life).

They will charge you just the interest on each day you have it, and no pre-payment penalty. I checked with the dealership beforehand, and they also said no problem. You can pay it off the next day and they will still get the $1000 finance credit. My pay off was ahead of all the paperwork, but still no problem. Someone had put me in their computer already though.


I wondered how they could afford to do business in this manner as it cost them more to process the paperwork with my loan and pay off then what I paid them in just a few days interest charges, not counting the $1000 credit to the dealership. The dealership salesman said the majority of folks, like 70%, who take out those FMCC loans stay with them, even though it costs a bit more in interest than a bank charges. That is where they make their money, and the few quick hits like me they take on just so as to keep their liberal pay-off no-penalty policy in tact.

 

Anyone else get one of these offers? I didn't see one when I looked at my magazine.

 

Mine was in the Winter 2006 edition of the magazine. It has Weekend Warrior article about the F-150 on the cover with a picture of a Navy Blue or Black F-150. I was wondering if everyone's had the coupon attached or if only some did.

 

I was wondering the same thing but I am a little confused. I am in the market for an F-150 and I am going to purchase on at the end of March. I looked up the rebates and bonus cash or what have you and I got excited because I saw what I could pay for a brand new F-150 then I got my bubble bursted when I read the big "or" $1000 plus special financing. I saw a local bank advertising car loans at 4.74% which is a lot lower than the 5.9% I would get through Ford for 60 months. My credit is flawless and excellent to say the least.

So here come my dumb questions:

1.) Is it possible to get the big reductions and get the lower interest rates?

2.) How much of a difference are we talking about here?

3.) Is it better to go for the lower price rather than the lower interest when shopping for a cheap note?

4.) How do I do this bank loan thing that you guys are talking about?

I've never heard of this till now and when I bought my last brand new truck, a '00 F-150 which I lost in Hurricane Katrina, I just settled for Ford's lowest interest rate for, ironically enough, 5.9% for 60 months. How does Ford charge interest on each day you own the vehicle before you pay it off with the bank loan? I hate to be too cynical but I just see why go through a bank? There's got to be a catch! If you could be so kind please explain this to me because it might be worth my while. I lost 2 trucks and I'm going on 6 months without a freaking vehicle and I could use some help.

 

Holy crud- you could use some help. I'll take a swing at this:

So here come my dumb questions:

1.) Is it possible to get the big reductions and get the lower interest rates?

Yes- take the FMCC bonus cash and finance with them, then refinance with your low-interest lender after you get your payment book or an account number. You just didn't hear that from me.

2.) How much of a difference are we talking about here?

A couple percentage points for a couple of months- not enough to talk about really ($100, maybe?)

3.) Is it better to go for the lower price rather than the lower interest when shopping for a cheap note?

I learned long ago about the present value of money. I treat the purchase and the financing as two separate transactions.

4.) How do I do this bank loan thing that you guys are talking about?

Do you have a credit union you use? they're typically the cheapest money out there, then banks. You just fill out the app- they'll handle the paperwork and the payoff.

I've never heard of this till now and when I bought my last brand new truck, a '00 F-150 which I lost in Hurricane Katrina, I just settled for Ford's lowest interest rate for, ironically enough, 5.9% for 60 months. How does Ford charge interest on each day you own the vehicle before you pay it off with the bank loan? I hate to be too cynical but I just see why go through a bank? There's got to be a catch! If you could be so kind please explain this to me because it might be worth my while. I lost 2 trucks and I'm going on 6 months without a freaking vehicle and I could use some help.
02-19-2006 11:26 AM

On every loan, the interest rate can be broken down into a "Per Diem," a daily interest charge. it's useful when they get paid off early- the lender needs a standardized method of fairly figuring out the payoff. Pretty simple, really.

 

Yeah I have a credit union through the school board but since the hurricane I have no idea how to get in touch with them. I haven't gotten any saving statments or offers of any kind since the storm. Now I've been eyeing up a Lariat SuperCrew and I priced it with options on Kelly Blue Book's website and invoice then I substrated the reductions and my price came to $28,864 plus TTL. So I know the price is at least $31,461.76 then what ever the titles and licensing fees are. So just for the sake of things let's say $32K. I'm only going to finance about $12K so if you could be so kind and give me a ballpark figure of what I'll be paying through Ford's financing versus a bank with an interest loan of 4.74%.

Let me clear up my question from before. If I go with the higher reductions and higher financing what are the rates for a 60 month loan? Is it possible to get the higher reductions and the 5.9% 60 month loan through Ford instead of trying to go through a bank? The lower Ford interest and higher Ford reductions. Bottom line is it possible? I appreciate your help thus far.

 

Yeah I have a credit union through the school board but since the hurricane I have no idea how to get in touch with them. I haven't gotten any saving statments or offers of any kind since the storm. Now I've been eyeing up a Lariat SuperCrew and I priced it with options on Kelly Blue Book's website and invoice then I substrated the reductions and my price came to $28,864 plus TTL. So I know the price is at least $31,461.76 then what ever the titles and licensing fees are. So just for the sake of things let's say $32K. I'm only going to finance about $12K so if you could be so kind and give me a ballpark figure of what I'll be paying through Ford's financing versus a bank with an interest loan of 4.74%.

Don't hit me- they're going to smack the rate a bit because of the small balance to finance (yes, in the auto scheme of things, that's tiny). You're probably talking 7% at FMCC vs. 4.74 at your credit union. again, again, that might total up to $400-$500 over the entire life of the 60 month note. That's what i meant by not enought to talk about.

Let me clear up my question from before. If I go with the higher reductions and higher financing what are the rates for a 60 month loan? Is it possible to get the higher reductions and the 5.9% 60 month loan through Ford instead of trying to go through a bank? The lower Ford interest and higher Ford reductions. Bottom line is it possible? I appreciate your help thus far.

Again, because of the relatively small amount to finance, it's in your benefit to take a "standard" rate and forget about finance reductions- the rebates much more. What a lot of folks forget is that a car loan amortizes out very quickly, and a few percentage points don't amount to much. Unlike a home mortgage, where 1% could be hundreds of dollars difference in a payment.

 

Like Polarbear said, Take the cash and refi later, if you are a member of a credit union you should be able to refi it at <4.25%.

When we bought our last new car, we had to choose between cash back and 1.9% financing. If we took the cash back we would get 6.9% from FMCC. We looked at it like any risky project...

No Rebate/ FMCC low rate choice
Price:$23,000
Interest Rate:1.9%
Terms:48mos
Payment:$497.98
Total: $23903.04

W/Rebate & FMCC
Price:$23,000
Rebate: -$3000
Interest Rate:6.9%
Terms:48mos
Payment:$477.99
Total: $22943.04

W/ Rebate and refinanced with Credit Union
Price:$23,000
Rebate -$3000
Interest Rate:4%
Terms:48mos
Payment:$451.58
Total: $21675.84