Early payoff fee?
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Mountain Pass
Joined: Apr 2004
Posts: 159
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Early payoff fee?
I financed $7000 thru Ford Credit so I could get the extra $1000 rebate when I bought my '04 F150 a couple months ago. I hate making payments already and I've only made 1 so far (second coming due soon). Will there be a penalty if I pay it off now? My dealership said something about having to make 3 payments, but I read here somewhere last week (can't find it now) that's not true. I called Ford Credit at lunch and got some woman who can barely speak english. Does anyone know for sure. An answer in english will be appreciated.
Thanks.
Thanks.
CO River Rat
Joined: Feb 2004
Posts: 3,209
Likes: 0
From: Lake Havasu City AZ
519DVX -
There's no penalty for paying off your FMCC loan early (did that in May on my '04 Explorer). The only one it hurts is the dealer, who doesn't get his kick-back if you pay it off before a certain number of payments are made (see the connection about 3 payments?).
Steve
There's no penalty for paying off your FMCC loan early (did that in May on my '04 Explorer). The only one it hurts is the dealer, who doesn't get his kick-back if you pay it off before a certain number of payments are made (see the connection about 3 payments?).
Steve
Freshman User
Joined: Feb 2001
Posts: 46
Likes: 0
From: Conn
Here is the link for the other thread.
I refinanced after 2 payments, no problems.
If it's through Ford Credit NO Problem!
http://www.fordtrucks.com/forums/sho...d.php?t=272392
Hope this helps.
I refinanced after 2 payments, no problems.
If it's through Ford Credit NO Problem!
http://www.fordtrucks.com/forums/sho...d.php?t=272392
Hope this helps.
