I have a new truck coming in within the next week or two. I see this morning that the incentives have changed.

Now it looks like $2500 rebate, plus an additional $1000 "Ford Credit Retail Customer Bonus Cash." That $1000 has the stipulation that it requires Ford Credit financing.

I had planned to go through my credit union, which has a much better rate (last I checked, Ford Credit was around 8%, while my credit union is 4.99%).

I've heard of people going with the Ford Credit financing to get this bonus rebate, then simply refinancing.

Anyone know the rules on this? Is there an amount of time I have to wait before refinancing?

 

Dealer told me I could refinance without penalty after 4 payments.

 

I typically pay cash for my vehicles, but on both my F-150 and my Mustang I financed them through Ford Credit just to get the extra $1000.00 cash back. Both times my dealer told me that I needed to make three payments minimum, and then could pay the loan off or refinance if I wanted.

FWIW -- I paid both vehicles off as soon as I got my first bill in the mail and the dealer never questioned me on either transaction. My suspicion is that the reason the dealers tell you to make 3 or 4 payments is that they get some kind of "kick back" from Ford Credit if the loan stays out for a minimum number of months.

 

Spoke to my dealer this morning - he told me to just wait a month then refinance. Sounds like a plan to me!