Ordering / Financing
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New User
Joined: Feb 2018
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Ordering / Financing
Gents, for those of you that special ordered your truck, at what point did you line up financing - before you placed your order, close to the estimated delivery date, or something else?
Senior User
Joined: Sep 2017
Posts: 493
Likes: 5
Searched for what financing was available after order placed. When the dealer called that the truck arrived at the dealership we did a pre-delivery inspection and loan application that day. One day passed for dealer prep and loan processing. Picked up truck morning of the following day.
If you have any concerns about qualifying for the loan you prefer, start the process earlier. Maybe get pre-approved, even as early as before placing order if you like.
My dealer had the best financing, but beware dealers can get hefty bonus if you accept higher interest rates... The industry is a bit slimy in that regard, so protect yourself by comparing dealer sourced loans to what you find independently.
If you have any concerns about qualifying for the loan you prefer, start the process earlier. Maybe get pre-approved, even as early as before placing order if you like.
My dealer had the best financing, but beware dealers can get hefty bonus if you accept higher interest rates... The industry is a bit slimy in that regard, so protect yourself by comparing dealer sourced loans to what you find independently.
Junior User
Joined: Jan 2018
Posts: 92
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From: SF Bay Area
That's my current plan. Delivery is in about 3 weeks and we'll see what Ford has available (typically not all the great). Expecting to utilize our bank which is currently offering really good rates.
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New User
Joined: Feb 2018
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Thanks guys - I appreciate the info.
In the past I've had financing approved before setting foot on the lot, then give the dealership a chance to beat my bank's rate. The credit unions I've been talking to are telling me that their approval will expire after 45 days if not used, so I was just curious how other folks were handling the finance process for special orders.
Now I'm just trying to get the scoop on what the incentives will be for March and gambling on getting my order in before the order bank closes on the 2nd.
In the past I've had financing approved before setting foot on the lot, then give the dealership a chance to beat my bank's rate. The credit unions I've been talking to are telling me that their approval will expire after 45 days if not used, so I was just curious how other folks were handling the finance process for special orders.
Now I'm just trying to get the scoop on what the incentives will be for March and gambling on getting my order in before the order bank closes on the 2nd.
Laughing Gas
Joined: Jul 2017
Posts: 960
Likes: 4
Thanks guys - I appreciate the info.
In the past I've had financing approved before setting foot on the lot, then give the dealership a chance to beat my bank's rate. The credit unions I've been talking to are telling me that their approval will expire after 45 days if not used, so I was just curious how other folks were handling the finance process for special orders.
Now I'm just trying to get the scoop on what the incentives will be for March and gambling on getting my order in before the order bank closes on the 2nd.
In the past I've had financing approved before setting foot on the lot, then give the dealership a chance to beat my bank's rate. The credit unions I've been talking to are telling me that their approval will expire after 45 days if not used, so I was just curious how other folks were handling the finance process for special orders.
Now I'm just trying to get the scoop on what the incentives will be for March and gambling on getting my order in before the order bank closes on the 2nd.
Freshman User
Joined: Nov 2017
Posts: 47
Likes: 0
From: Central Fl
4 weeks ago (a week before my truck came in) I checked with my credit union and was told 2.25 for 60 mnts.
Went to dealer and got 2.19 for 60 mnts
I think the dealer makes a few bucks off loans.
Went to dealer and got 2.19 for 60 mnts
I think the dealer makes a few bucks off loans.
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Elder User
Joined: Jul 2017
Posts: 622
Likes: 6
From: Gladys, VA
Financing was done the day of delivery. Already knew my credit was not an issue. Only reason I financed through Ford was to get a rebate. Paid it off couple weeks later.
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Laughing Gas
Joined: Jul 2017
Posts: 960
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Elder User
Joined: Jul 2017
Posts: 622
Likes: 6
From: Gladys, VA
Not sure what it is now. I purchased back in Sept. Try this link and click on pricing and incentives: https://www.ford.com/trucks/super-du...nd-incentives/
Laughing Gas
Joined: Jul 2017
Posts: 960
Likes: 4
Not sure what it is now. I purchased back in Sept. Try this link and click on pricing and incentives: https://www.ford.com/trucks/super-du...nd-incentives/
Elder User
Joined: Jul 2017
Posts: 622
Likes: 6
From: Gladys, VA
Looks that way. At the time I financed it was $750 for 5.9% plus other incentives. Not bad considering I paid it off a couple weeks later.
Laughing Gas
Joined: Jul 2017
Posts: 960
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Cross-Country
Joined: Dec 2013
Posts: 66
Likes: 0
From: New Hampshire
Larrymac52, many folks take advantage of purchase incentive that requires hooking up with FOMOCO at a prohibitively high rate. After they take delivery, they immediately initiate the refinance process, at a much more reasonable rate. Most Credit Unions treat these as new car loans, as long as it is within a certain timeframe (some up to 1 year!) Look at different institutions available to you, and go back to your own place and tell them , new vehicle loan refinance, is not a used car loan. IF they cannot do it, take your business elsewhere. good luck
