Yea I see what you guys are saying about giving the dealer the $1000 but:

1.) I had a terrible experience with my dealership and wasn't treated in a professional manner.

2.) I work hard for my money, my rate is 6.45% for 60 months, If I can refi now and get 2.9% to 3.49% and get the $60 back and put that extra towards principal why the heck not?

 

I refinaanced mine less than 10 days after I bought it. FMC even sent me a check for about $30. I guess the payoff numbers were a tad bit lower than what my CU sent them.

 

I honored the 3 months that my dealer requested because they treated me with respect and were honest with me. The finance manager even told me that he made one payment to FMC and refinanced afterward. Also, I really love their shop. It's the cleanest shop I've ever stepped foot in. So yeah, I wish to do business with that dealer again so I don't mind letting them have their $1000 rebate back from Ford.

 

jUST DO IT. i PAYED MINE OFF 1 WEEK LATER AND STILL GET THE SAME TREATMENT FROM THE DEALER. tHEY DO ALL MY SERVICING AND MY SALESMAN ALWAYS COMES OVER TO SAY "hI" WHEN i'M THERE. i WAS ALSO X-PLAN. (just noticed my caps lock was on sorry). You helped them move inventory, call it good
I'd bet my house if they could have talked you into $1,000 more for the truck or b.s. accessories they would. Don't feel bad for them. Put your money towards pricipal or some fuel

 

Ah loud noises!!!!

Yea I started the ball rolling today 1.99% for 60 months. Trust me I don't feel bad, its business.

 

When I bought my truck last month and the finance manager did all the paper work i had to sign electronically on almost everything. They told me the same thing about waiting 3 months and I have bought several fords before using rebates and x-plan. I refinanced this truck on the 3rd or 4th day after buying it for 2.9%. The longer you wait to refinance the more of that $1000 rebate you will lose. After 4 days it cost me about $100 dollars. All you need is your account number and ford credit 800 number or credit web site to get your payoff. Everything is done so much faster and electronically and there is definitely no penalty for the customer. DO IT AS SOON AS POSSIBLE!

 

I was told several times while signing the paperwork that there was no prepayment penalty. I took that to mean "refinance as soon as you can." I waited until about a week before my first payment was due to refinance. Total cost was less than $50 and I got to drive my truck for almost 2 months before I had a truck payment.

 

I believe that a business relationship is a 2 way street. My local dealer here is great, so if I were in this situation, I'd wait the 3 months so they could get their spiff. What goes around comes around. I'm not one to scream over a couple hundred bucks on a $30k purchase.

 

I'll soon be going through the financing aspect and I intend on refinancing - I skimmed and didn't see if (if answered, my apologies), but what is the amount the dealer loses if I refinance before 3 months is up. Is it the full 1,000 or something smaller?

I've had a mixed experience and however the F&I guy treats me is probably the deciding factor for waiting or not, but i'm curious what they're on the hook for. Thanks

 

My saleman told me they would like for me to wait for 3 payments but that they cannot stop me from paying it off sooner.

 

It seems to me like it can't be that big a deal. I started talking about financing with my dealer and he actually told me that he would give me the rebate and finance through ford, but he would apply for credit from other institutions at the same time so I could get a low rate loan and pay off the ford credit loan the very next day. That way I could get the rebate plus a low rate. It had never occurred to me to do any of that until he brought it up, so I definitely won't feel bad doing that.

 

I just bought a new '12 and the salesman told me it was ok to refi as soon as I got my acct number from Ford. I've always done that but I figured it held more weight coming from him. The finance guy told me to wait 120 days.

I asked my salesman how that worked and he said Ford doesn't have to pay the rebate to them (the dealer) if I refi earlier than 90 days. He also said Ford has never not-paid them the rebate even when the customer refi'd earlier, ergo the disclaimer to just do what I want, when I want.

 

How are you guys refinancing so soon? I purchased a 2012 F150 4x4 Ecoboost about three weeks ago and took advantage of the $1000 rebate for financing with Ford Credit. I intended on refinancing pretty soon but I am still waiting on my title, which I was told that I needed to refinance with my credit union. I see that some of you guys were doing your refinancing very soon after purchasing your truck and was just wondering how you were doing it so quickly? I have yet to receive anything from Ford Credit.

 

Your not going to receive a title. Ford Credit holds it until you pay off the loan.

 

This thread is music to my eyes/ears. I know this is an F150 forum, but I'm currently dealing with FMC.

I just purchased a '12 Fusion today on the D-plan. I was basically presented with these financing options:

$2000 rebate, 0% for 60 months
$2000 rebate, 1.9% for 72 months
$3500 rebate, 4.9% for 60 months
$2500 rebate, private finance (which I was preapproved through my bank at 2.49%)

After much much debating, I chose the full rebate with the higher rate in the hopes of refinancing ASAP. I have not signed a bill of sale or anything yet (waiting for a day or 2 for them to relocate the model/color of my choice).

It seems I made a good choice to take as much money off the price up front.

So lending institutions don't take the current new/used value of the car into account when you refinance? Seems as soon as I drive that car off the lot the value of it will drop considerably.

EDIT: I should add that my sales rep actually suggested the refi option before I did (but I was thinking about it), as I guess he wanted to help me make a decision. I was taking a while comparing, probably thought he was going to lose me. He told me I had to make 2 payments before I refi. Since I bought the car on the d-plan, and my father-in-law works at that dealership in the garage, I'll more than likely honor that request. It's extremely likely we'll be buying another car from there in the future.