I took the $1000 to finance thru Ford. But the interest rate is not as good as my local Credit Union. They had a place on the Ford Credit website to ask for a rate change. Has anyone on here done this and what was the outcome?

I thought I would try first before I switched..

 

I'm not aware that Ford will rewrite an existing loan. Where on the website did you see that???

 

Look where in says email them.

 

Before I bought my truck, I got approved though a local credit union. When I went in to purchase, they already checked with the credit union and Ford Credit beat their rate and I got the $1,000.00. Win, win for me.

 

I got an incentive fo financing thru Ford, too. But since I was already approved thru my CU, I just transferred the loan about 3 weeks later. There were obviously no pre-payment penalties.

 

I checked there...still can't find it. The only screen I can find with the ability to change interest rates is in the section to estimate payments. It wouldn't hurt you to ask them to be competetive with the local rate. As I said before...I've never seen them do it. Good luck.

 

That's what I was thinking. That's easier then calling the Credit Union..

 

This is the email I received from them. Guess this is a NO?

Thank you for contacting Ford Credit.


You can contact our Customer Service Center with questions regarding your current Ford Credit account at (800) 727-7000.

Contract negotiations are completed at the dealership prior to signing the Retail Installment contract.

Sincerely,

Ray
Ford Credit

 

Yepper...that would be a no!!! In my experience...the most they will do for a customer is perhaps extend term if someone is experienceing difficulties. IE...They will let you postpone one months payment.

 

Once you sign a contract at your Ford dealer to finance through Ford Motor Credit you are bound by that contract for the agreed to interest rate. I have already ask that question of Ford Motor Credit.