Hi guys. This is great stuff. Thanks for the replies, it is appreciated. Okay, my wife's Dakota is paid for. The residual on my leased 02 Lariat is $15,200. They said that new F-150 work truck they want to throw at me will cost me $500.00 bucks a month. My credit score was between 500-600. I looked on the Ford website and stripped XL work trucks are around 20 grand.
With tax, license, & misc charges it comes to almost that amount to buy my 02. Maybe they have rebates on the new trucks, I don't know. But it seems to me that it shouldn't matter to a lender what vehicle is being financed. Oh, I was told it's Capitol One that approved me.
If they said I am approved for that new stripped truck, they should be able to let me purchase my 02, or in the worst case, a smaller new car.
I think something is fishy here.
Maybe I should call that account manager at Ford Credit and tell him all of this and maybe he can tell me something that might be to my advantage.
What do you think?

 

Quit asking the fox about how to protect your hens.

If they told you that Cap1 qualified you, then go directly to Cap1 and find out for yourself. I have 3 Cap1 credit cards and my truck is financed through them as well. I had a couple late payments about 3-4 years ago and all my cc companies jacked my rates and/or froze my credit lines. After working my **** off and paying on them for a year or two, Cap1 offered me a card at a reasonable rate(14.9%). I've built credit with them from there and they have raised my limits and cut my rates. cc's are 12.9% and my used truck is 5.29%

I applied online for my truck, filled out the app. and got pre-approved for $20K before I ever started shopping for a truck. I've never had a problem with them, although I've never had a late payment either.

 

I say cut through the b.s. and go to capitaloneautofinance . com, apply for a used auto loan and see what happens. I have a funny feeling youll be approved for more than enough to buy your truck back. ESPECIALLY since it has such low milage. Trust me the stealer is probably just drooling over what kinda profit he could make on such a well maintained vehicle.

Flip him the bird and get your own financing. When your approved turn in/buy your truck at another dealership. Then as your driving home stop by and show him what a great deal you got!

Later,

Luis S

 

Well, we're going to the dealer around noon today to see what's what. I did find out that the amount that Capitol One will loan me is $22,699.
Very interesting. I will find out all the details and keep you all posted.

 

Good luck reloader...

 

Try lendingtree.com. This is a pretty good source to find financing, and there are numerous lenders. You should be able to find someone who will work with you. Good luck.