Current APR?
More Turbo
Joined: Dec 2021
Posts: 604
Likes: 205
Thanks for all of the perspectives!
Yea it's such a mental thing. I'm not anywhere close to be cornered into a "payment" limit, but instead trying to maximize leverage and find a happy medium between rates and deprecation and down and disposable liquidity.
I'd like to understand Fords rationale about offering (last I checked) very good rates on 150s vs 250s. WTH?
Yea it's such a mental thing. I'm not anywhere close to be cornered into a "payment" limit, but instead trying to maximize leverage and find a happy medium between rates and deprecation and down and disposable liquidity.
I'd like to understand Fords rationale about offering (last I checked) very good rates on 150s vs 250s. WTH?
Lead Driver
Joined: Oct 2014
Posts: 5,945
Likes: 1,359
From: NY/Canada border
With a score that hovers near 800 most of the time I was at 4.5x% on the loan for my 2020. This time around my local bank was at 3.99%. I told the dealer if they had someone that could beat that then go for it. Ended up at 2.84% plus I shortened the original term of the loan by six months compared to the previous loan and dropped the payment $152 a month. Ford Credit was never spoken of by either the dealer or myself.
I always tacked $100-$150 a month extra into the old payment, so doing that on the new loan will knock it down even faster. I've never really been upside down on a truck and starting out with a good loan to value figure on this one, combined with paying extra each month will put me in a very good spot in fairly short order.
I always tacked $100-$150 a month extra into the old payment, so doing that on the new loan will knock it down even faster. I've never really been upside down on a truck and starting out with a good loan to value figure on this one, combined with paying extra each month will put me in a very good spot in fairly short order.
Lead Driver
Joined: Oct 2014
Posts: 5,945
Likes: 1,359
From: NY/Canada border
I might have been able to do better at a credit union but I don't belong to one. My hometown bank has offices in many small villages in our county, including my town. Personal service is literally a half mile from my house when I need it. And they've always been very attentive and fix any issues right away. I can walk in unannounced or with no appointment and speak to the branch manager most any time. But just because the service is wonderful doesn't mean I'll borrow from them to my checkbook's detriment.
I haven't checked in quite some time but Ford always seemed to be 6.9 - 7.9%. That's out of the question unless there's a big incentive. And then get a lower rate loan and pay them off immediately.
Mountain Pass
Joined: Feb 2011
Posts: 192
Likes: 30
From: Upstate NY
As another data point...
At the beginning of Dec '21, I joined a local credit union in upstate NY to get 1.25% for 60mo. w/ excellent credit. Rate includes .25% discount for new members. They finance > MSRP, so I put $0 down.
At the beginning of Dec '21, I joined a local credit union in upstate NY to get 1.25% for 60mo. w/ excellent credit. Rate includes .25% discount for new members. They finance > MSRP, so I put $0 down.
Lead Driver
Joined: Oct 2014
Posts: 5,945
Likes: 1,359
From: NY/Canada border
How far upstate? I'm Watertown area.
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Mountain Pass
Joined: Feb 2011
Posts: 192
Likes: 30
From: Upstate NY
That and the current inflation environment is why I took the max amount.
BTW they still are offering it, but I doubt it covers your area (https://www.tctfcu.org/member-groups)
BTW they still are offering it, but I doubt it covers your area (https://www.tctfcu.org/member-groups)
5th Wheeling
Joined: Jan 2022
Posts: 28
Likes: 2
In TX and just got 2.1% on 72mths from Texans CU. Pretty happy with that and am contemplating investing the other portion to see if I can make some money while drawing payments from it, never know with the market right now tho haha.
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