Anyone know what the rates to go through Ford Financing are? More specifically for a 72 month? I'd be Tier1, but range is acceptable.

The dealer is trying to offer me the extra $1k rebate for going through Ford financing and telling me I can change after 3 months, and I can't gauge if it's worth the effort or if I should just haggle down and use my credit union?

This forum has been an amazing resource; thanks for all your help!

 

Grab the extra 1K and refinance shortly after you buy the truck. The dealer claims you can do this after 3 months, but there's not documented restriction.

I'm sure the dealer is getting some form of incentive for increasing the number of vehicles sold with Ford Credit financing.

 

My son did that. Took the dealer's rebates to use Ford financing then redid the loan with Navy Fed. So he got the rebates and now a cheaper rate. When I bought my truck Ford was giving 0%, I guess I couldn't do any better. Chris

 

I too took the Ford financing-it was 8.9 % for 5 yrs and I have an 800 score. I will keep it for 3 months and then get it refinanced at my cu at 4%.

 

That's why they were pushing it. I had to tell 3 people that I didn't want financing. I was doing an all cash deal, but they were pushing that financing rebate. They didn't want to tell me the % til my name was already on the dotted line. That 8.9 goes a long way in telling me why they were so pushy with it, I would have been pushy to if I was getting 8.9%.

 

My dealer told me I had to make one payment then I could refinance with no penalty. So that is where I am right now. The wife is dealing with my credit union to get 4.4% after taking the rebate from Ford. I wouldn't wait 3 months. Do it ASAP! They are just trying to get some extra cash.

 

Its only one payment, not 3. Every truck Ive bought the dealer has pushed for Ford Credit. One told me thats what they are instructed to do, is to push customers toward ford credit. It brings more cash home to momma, lol.

Make your 1 payment then refinance through a different source. Ive got an 820 credit score and through Ford credit I got an 8.9% rate, and through another bank I got a 4.5% rate for 72 months.

 

They were pushing 3 at my dealership(pushing me be to strong of a word. They kept on saying it's just 3 payments and then your done with it(in my case since it was all cash)). I told them it's worth the extra 1k to me not to have to deal with payments. It was getting the point to where they were pushing it so much that I was about to say no deal. I don't like things being pushed on me.

 

Then dont do it. Either go to another dealer or go home, call that dealer, and ask to speak to another salesman. Maybe another at that dealer wont be so pushy, you can get your truck, and the first sales man can eat crow watching you give one of his co-workers the deal lol

 

In the end it worked out alright. I got it for about 8k of(which I thought was pretty good). No trade it, although they were trying to get the 6.0 that I had, but I couldn't stand some teenage snot nose kid getting it that didn't appreciate what was under the hood. Besides it needed to stay around as a farm truck.

 

Thanks, all. I'll look at terms, maybe try to use some of it to negotiate down, throw some stuff against the wall and see what sticks.


Hopefully by end of week I'll be a new owner of an FX2!

 

One thing that has always served me well with this is to never underestimate the power of indifference. Rather or not you are truly indifferent, make sure that they think you are.

 

Just bought a 2010 Ford F-150 XLT 4x4 yesterday and I got the 1K off Ford Credit rebate with a 6.49% rate for 60 month. Total rebates with that 1K was $4500. My credit union rate is a 4.24%, so I will be refinancing it after I pay my first payment.

 

credit rates are dropping... Finally a good sign from the economy!

 

The Ford rates suck. The best option was 7.99 with perfect credit. Although I intend to pay the small balance on my new 2010 F-150 off soon, I opted to let them have the $1K in rebates and opted for 2.9% financing for 60 months. This way if I want to keep the payment, the rate is low and I didn't have to deal with the hassle of going to the bank to refinance.