The new cash 08' rebates are out and Ford is offering up to $4,500 cash back on a financed 08' F-150. $3,500 plus another $1K if one finances through Ford Credit. Is it still true that one can prepay the loan as quickly as one wants in order to get the added $1K? And won't these higher rebates "steal" 09' F-150 sales?
I had the same deal when I bought my 04. The dealer asked if I would please wait 90 days after he sold me the truck to pay the loan off. I think you can pay it off anytime but the dealer is charged back if it hasn't been on the books for at least 90 days. I had to borrow $7,000 to get the $1,000. I think it cost me a little over $100 to save the $1,000. You can go to MyFord on the web and keep up with the daily balance and you know exactly the status. It keeps you up to date on the payoff. It also gives you a different address to send the payoff. It worked perfectly for me.
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2004 XLT Regular Cab, Short Bed, 4X4 with 5.4 and 3.73.
I did the same thing when I bought my '04 Expy. Ford credit interest was higher than I wanted to pay so I refinanced it before the first payment was due, got a lower rate and GAP insurance was included for free. Ford wanted $500 for the GAP insurance.
If FMC is going to offer the rebates to move the '08's then they must not be real concerned about the '09 selling as planned.
If your not concerned about wheather you drive current or future body style, then go where the rebates take you.
Enjoy!!
Tim
__________________ Retired Coasty Country Boy from Stockton Springs, Maine '04 Expedition ( Family Car) '99 Taurus. Former family car '88 F-150 4x4 XLT Lariat 5.8L 5Spd '90 Honda Civic (daughter's car) 37 mpg
I did the math on a $37K F-150. Purchase price around $31K. After $3,500 rebate and the extra $1K "kicker" finance credit. The interest charge for 90 days would be about $525. So the $1K rebate is really only worth $475.
The new cash 08' rebates are out and Ford is offering up to $4,500 cash back on a financed 08' F-150. $3,500 plus another $1K if one finances through Ford Credit. Is it still true that one can prepay the loan as quickly as one wants in order to get the added $1K? And won't these higher rebates "steal" 09' F-150 sales?
Umm, dont they always give big rebates on the models going out?
It won't steal Fords 09 sales. There are some that will want the 09 no matter what. And some will take advantage of the rebates on the left overs. Its works good that way for years. Wait till the 09s hit the lots this fall and you will be able to get a GREAT deal on an 08....if you want.
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Max W
06 F-350 4X4 6.0 PSD NORTH POLE, ALASKA
Mobil-1 5-40 turbo diesel truck oil from day #1
98 gallon transfer flow tank
Leer topper insulated
MBRP SS409 turbo back Off-Road duel exhaust-CAT IS GONE
AstroStart 2-way Auto start
Go Rhino pushbar/brushguard,4-9" Lite-Force moose lites
I did the math on a $37K F-150. Purchase price around $31K. After $3,500 rebate and the extra $1K "kicker" finance credit. The interest charge for 90 days would be about $525. So the $1K rebate is really only worth $475.
But you don't have to finance but a small amount. I had to finance $7,000 to get the rebate. My interest was a little over $120 to get the $1,000 back. I took the $7,000 and used part of it and put a new roof on my house.
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2004 XLT Regular Cab, Short Bed, 4X4 with 5.4 and 3.73.
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