1.9% w/ford credit!

 

Geesh guys. Don't go by what the sharks in the dealerships' finance office say. READ THE BACKSIDE OF THE CONTRACT. If it doesn't mention anything about the 60 or 90 or 5000 days you need to pay on it. Get it refinanced. Nothing Ford Credit can do if you refinance after the sale if there are no stipulations on the contract.

 

Same here.

 

1.9 X 60 mos. through ford credit too.

plus I got an extra 1000$ back by financing with them

 

I've got the same song and dance as everyone else then...Wait 4 months and then you can refinance.

Bigd999 & SR89racer,

How did you guys get 1.9%?
When did you buy your truck?

Ford saying 4.9% but I can get it for 3.9% at credit union when I refinance.

 

Last time I financed with Ford Credit I went in approved for 2.99% for 48 months and the waterheads at the dealership wrote the loan for 3.99% for 60 months. Unfortunately I didn't find out about it until 2-3 months later and the deal was done. They did say it was probably an error because no one gets a loan for less than 60 months nowadays. I don't go to that dealership anymore.

 

The issue with the 90 days is with the dealer. Ford pays the dealers a finance reserve based on the profit generated on the loan. For example, if Ford credit "sells" the dealer the money at 5.9 (called retention rate) the dealer can mark it up and sell it to you for whatever you'll pay. FMCC then pays the dealer back the extra interest generated (called finance reserve). FMCC lets the dealer keep this money as additional profit, but if the loan is payed off prior to 90 days expiring, FMCC takes this money back (called a charge-back).

You can payoff anytime and they can't chargeback the rebate. If you liked your dealer, keep the loan 90 days, let them get theirs then pay it off. If not, pay it off ASAP.

Paul

 

HAHA, i had my regular bank pay off my 2 week old ford credit loan yesterday. They gave me 5.0%. I had a feeling ford should have offered me 5.9, but they would only do it at 7.5, so i was pretty sure they were juking me.

 

the 1.9 I got was the special intrest rate, instead of the manufacturer rebate. I got my truck at the very end of august, like the 30th I think

 

decisions....decisions.... I'll have to think about this one and decide if i should refinance now or wait a few months. Thanks for the input Karpro!!

The dealership was great, but i felt like they easily could have given me a better rate!! I got 6.9......

 

3.99% for 60mo @ my credit union.

 

1.9% with FMC

 

just drove home tonight with a new 04 xlt 4x4 rc.... got 9k off msrp and 6.9/60 mos. fmc

 

congrats on the new truck!

 

cheers. i got sucked into the dealership by that letter from fmc that went something like: 'hey, your warranty is about to expire! want to drive a new, bigger, better truck under warranty for about the same monthly payment as you're paying now for that 3-year-old truck?'

they saw me coming....