Outside of special deals, does the dealer set the interest rate when getting a loan from Ford Credit?

I think I saw a post where someone got 3.29 for 60 months and the Ford Credit site seems to indicate that the dealer provides the rate.

 

I can assure you that the dealership isn't providing the rate. Ford Credit will issue your rate if you decide to go through them.

Whoever the lien holder is on your loan will, ultimately, set your rate based on your past credit and credit scores.

The dealerships, on the other hand, do typically have their 'favorite banks' (outside of Ford Credit) to run loans through as, indeed, they get a cut each time they sign a loan with them.

RP

 

I recently purchased my 04 and have it financed through the dealer at 3.29% for 60 months. Here is how I did it. Very lengthy process but worth the extra money I saved. I first got approved through Capital One at 4.69%. They then matched the rate of 3.79% offered by HomeboundAuto.com. Some people have done the same thing and got Capital One to match it outright. I had to actually prove to Capital One that I was approved at that rate. They said since it was almost 1% lower that I had to show proof. Whatever, so I did, and they matched the rate. They would beat it by .05 if I went with auto deduct, which I did not do. I then got paperwork showing the 3.79% from Capital One, along with their blank check. When I went to buy my truck I showed them the paperwork with the 3.79% but bluffed and said that I would be getting 3.29% with auto deduct. They said that Ford was only offering 4.9% but that they would try and match my rate through Chase. They did get the 3.29% through Chase and I financed it through them. 4.69 vs. 3.29 at 60 months, financing 33K+ = around $1200 savings.

Also, keep in mind you must have perfect credit to get this.

Scott