Ford Rebates $1250
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Junior User
Joined: Oct 2016
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Ford Rebates $1250
Any idea on the amount of have to finance through ford to get the rebate and how long you need to finance it fir before paying it off.
Can a guy pay immediately or do ya need to wit a few months?
Can a guy pay immediately or do ya need to wit a few months?
Senior User
Joined: Mar 2017
Posts: 416
Likes: 2
From: Texas
Guessing that's probably how long the dealer needs to not have the financing commission charged back.
Posting Guru
Joined: Aug 2002
Posts: 1,039
Likes: 6
From: Jacksonville, FL
It was not correct in my case - take the financing rebate, then as soon as the first bill arrives from Ford credit, take that account number from the statement to your bank/CU and refi it. Or pay it off if you have cash. No need to wait 90 days to refi. That's bunk.
Elder User
Joined: Apr 2017
Posts: 523
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From: Eagan, MN
I financed $12.9K, the sales guy said I only needed to do $8K. It is at 6.75%.
As soon as I had a loan number, I paid off $12K. I had to email to make sure it went to principle only. My first payment is not until 10/15, six weeks after delivery.
The dealer said keep it for 4 payments, so it will naturally pay down now. I could have paid it off sooner, but I agreed to the financing to get $750, so I can pay the $40 in interest to keep everyone happy.
You are not obligated, but it just seems fair.
As soon as I had a loan number, I paid off $12K. I had to email to make sure it went to principle only. My first payment is not until 10/15, six weeks after delivery.
The dealer said keep it for 4 payments, so it will naturally pay down now. I could have paid it off sooner, but I agreed to the financing to get $750, so I can pay the $40 in interest to keep everyone happy.
You are not obligated, but it just seems fair.
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Elder User
Joined: Jul 2017
Posts: 622
Likes: 6
From: Gladys, VA
I was gonna pay cash but the sales guy suggested financing $8k through Ford to get the rebate. Then just pay it off the first month. That's what I am doing - just waiting for the loan info to make its way to me.
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Junior User
Joined: May 2017
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I paid my loan in full on the 21st day after picking up the truck, which was as long as it took me to wait for FMCC to send me a statement welcoming me and be able to set up an online account, make a first electronic payment to be sure it processed OK, then transfer the remaining payoff. No issues.
Senior User
Joined: Aug 2017
Posts: 196
Likes: 3
From: Colorado
Absolutely a BS statement about making 3 payments first. My dealer I just purchased with tried telling me the same thing, but I have been through this game a few times, so I refinanced after getting my account number from Ford Credit in the mail. They get a kickback if you make 3 payments. If the interest rate isn't ridiculous (which it usually is), and you didn't finance much, then you can opt to help your dealer out if they went out of their way to help you. Personally, with 53k financed, and a 6% interest rate (and my credit score is over 800, so this is horrible interest rate for me), my daily per diem (interest charge) was nearly $9. If I waited 90 days to refinance, it would have cost me over $800 in interest, and the Ford credit rebate at the time was only $750. I would have lost money....
Posting Guru
Joined: Jan 2011
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But no requirement on your part.
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