Ford Financing Question
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Fleet Mechanic
Joined: Mar 2006
Posts: 1,519
Likes: 134
Ford Financing Question
Looking at a new truck and was going to probably bring more than half the money to the table and probably finiance 25-30$k. My question is I just got a new job that doesn’t pay as much so my debt to income ratio is all wacked for the time being with my mortgages that are on my credit. Being that I’m putting more than half down does that matter ? I know my credit is super good, over 800.
Just wanted to see what guys have dealt with I’ve never finianced a new car.
Thank you
Just wanted to see what guys have dealt with I’ve never finianced a new car.
Thank you
Junior User
Joined: Feb 2016
Posts: 70
Likes: 0
Similar Situation
I was in a similar situation as you only that I lost half my household income because wife stopped working. When I ordered my 19 I did a prequalifying offer through my bank (USAA) I have decent credit 780-800 depending on the who you check with, and they gave me a interest rate 2.99% Knowing the local credit union would beat it I ended up going with the credit union as the rate dropped to 2.29% Yes my credit took a little hit with multiple credit checks but when financing 30K that .7% made a substantial difference in the long run. Best bet would be do a local credit union Ford is willing to finance pretty much anyone as I have a subordinate with 500 credit score who just had to have a mustang at 17% interest.
Senior User
Joined: Jun 2012
Posts: 100
Likes: 2
From: St. Louis area
Ford does not have the greatest rates on trucks or mustangs. Easy to get 0% on Explorers and Fusions, but they don’t need help selling trucks. You’ll likely get a much better rate through a credit union or bank, but Ford is supper easy on giving credit.
Junior User
Joined: Feb 2016
Posts: 70
Likes: 0
I have not seen 0% on Superduty for well over 6 years if not longer. F150 ya F250/350 its been a hot minute so if you got 0% I am curious on how and who you went through for F250/350 financing.
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Junior User
Joined: Sep 2004
Posts: 99
Likes: 0
I just financed 36 months at 2.9% through Ford Credit . . . it's the current offer, at least here in Texas . . . and that includes a $500 rebate as well
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Postmaster
Joined: Jan 2005
Posts: 4,424
Likes: 12
From: BC Canada
Bought mine December 2016, 0% and 0.9% were available on new 2017s. I got no where near some of the deals you guys put on here but remember I bought a 2017 in December of 2016. It hadn’t even got to the dealer when I signed my deal. Even at that, what I got on trade of my 2005,what I got for extras thrown in, and all the incentives I got made a deal I could sign up for. I had 5 different truck deals written up at 4 dealers on 4different trucks to find what I wanted for what I wanted to pay. It pays to shop around.
Cargo Master
Joined: Dec 2003
Posts: 2,182
Likes: 7
From: Saint Augustine, FL
I walked in a dealership on a Thursday morning (September of '17) and left that afternoon with a new truck. I had quit my job on Sept 1st and was not yet re-employed, my wife hasn't worked since we married in 2010.
Credit score was right at 800, two mortgages but no other debt with the exception of the monthly churn on credit cards (averages about $2K to cover travel and day to day expenses).
Ford Credit matched my bank's rate of 1.9% for 60 months. Traded my old truck ($12K) and put $5K of cash with it.
This past spring I walked into a Hyundai dealership at lunchtime on a Monday and left with a new Santa Fe for my wife. Traded her 2 year old Kia (paid off) and got 0% for 36 months via Hyundai Motor Finance for the difference. It was actually a better deal for us to use Hyundai's financing than out bank. The best terms were 48 months but we will likely pay it off in 24. The payment is less than $250.
Credit score was right at 800, two mortgages but no other debt with the exception of the monthly churn on credit cards (averages about $2K to cover travel and day to day expenses).
Ford Credit matched my bank's rate of 1.9% for 60 months. Traded my old truck ($12K) and put $5K of cash with it.
This past spring I walked into a Hyundai dealership at lunchtime on a Monday and left with a new Santa Fe for my wife. Traded her 2 year old Kia (paid off) and got 0% for 36 months via Hyundai Motor Finance for the difference. It was actually a better deal for us to use Hyundai's financing than out bank. The best terms were 48 months but we will likely pay it off in 24. The payment is less than $250.
More Turbo
Joined: May 2014
Posts: 643
Likes: 154
From: Poway, CA
I should be picking up my truck very shortly. It's at the rail yard waiting to get loaded on a truck so it may even arrive at the dealership today. I have been hoping that November would bring 0% financing on Super Duties. My current F150 is financed at 0% for 72 months. My credit score is 820 and I didn't put a penny down. Why tie up my cash when someone will let me use their's for nothing? Anyways, 0% on a Super Duty is probably just a dream. On this purchase, I intend to put down $20K cash. I will likely finance around $58,800 (not completely sure what the incentives will be starting tomorrow). At 2.58% for 66 months (through my credit union) the cost to finance will be $4,334. That is the best deal I've found. I hate the feeling that I am giving back my $3000 PCO and the $1500 under invoice that I negotiated.
Mountain Pass
Joined: Jul 2018
Posts: 185
Likes: 3
I should be picking up my truck very shortly. It's at the rail yard waiting to get loaded on a truck so it may even arrive at the dealership today. I have been hoping that November would bring 0% financing on Super Duties. My current F150 is financed at 0% for 72 months. My credit score is 820 and I didn't put a penny down. Why tie up my cash when someone will let me use their's for nothing? Anyways, 0% on a Super Duty is probably just a dream. On this purchase, I intend to put down $20K cash. I will likely finance around $58,800 (not completely sure what the incentives will be starting tomorrow). At 2.58% for 66 months (through my credit union) the cost to finance will be $4,334. That is the best deal I've found. I hate the feeling that I am giving back my $3000 PCO and the $1500 under invoice that I negotiated.
More Turbo
Joined: May 2014
Posts: 643
Likes: 154
From: Poway, CA
I got it at the beginning of August and applied it to my order on 8/24. I have received a $2000 PCO since then but haven't seen or heard reports of a $3000 in that time frame..
More Turbo
Joined: May 2014
Posts: 643
Likes: 154
From: Poway, CA
And just to be clear, I'm spending only $72K on an $82K MSRP truck. Here in CA, they will get me for another $7,000 in sales tax and registration.