This is what I did I had a number I wanted to pay and I shook my head no until I got to the number I wanted. If the dealer cant meet that number try another dealer. It worked for me on my second dealer. I came in $75 less then my wife was willing to pay on the monthly payment. Everyone was happy and a few weeks prior I didnt think I could afford it.

 

I dont know what all the rebates were but I did use the $1,000 rebate for using Ford credit. They got Ford to lower their rate plus I didnt finance enough to save much with 0 %.

 

You guys need to read the details of the finance agreement. I had 3 dealers tell me I had to make 3 payments before paying off my 2011 I just bought. I was talking to a friend of mine who is the finance manager at a dealer out of town, he told me they tell you this because the dealer makes money when you make payments. There are absolutely no pre-payment penalties and you can pay it off the next day.

 

Correct. The dealer/salesman actually GETS money from Ford if you finance through them and make at least 3 months of payments, again it has to be at least 3 months worth of payments.

My salesman specifically told me this when I informed him I was going to pay cash all at once for the truck. He said there is no penalty, but then he gets no money. He politely asked me if I would make one large payment at first and then 2 payments to finish the balance over the course of the 3 months. I gave him no firm answer at the time. Due to some recent issues I have had i'll most likely be writing a check for the entire cost with the first payment unless, he helps out, we'll see.

 

^ good to know.. Thanks!!! So do I just call Ford Credit and ask for a payoff quote? It will save me money in interest and I could give a rats chulo about this dealer now. They also told me to make a huge first payment and then 2 smaller ones with the 3rd being 1 day after it's due (91st day). It all makes sense now... ha ha jokes on them

 

Yeah, find out the pay out and cut them a check, simple as that.

If you want to try bartering, call the salesman, tell him you talked to Ford credit and verified there was no early payoff penalty and you are going to pay it off immediately. Maybe he'll try and work something out for you.

 

I plan on keeping my loan with Ford. I always pay may loans off early and most banks have a fee if you do that. Ford Credit gave me a 4% rate and I doubt I could get much lower anywhere else.

 

Mack63, check with credit unions and other places. I've seen 3.25% through Fidelity at my work.

 

Thanks I took your advice and got a loan for 2.75% with no pre payment penalties or fees. That will save me a few hundred dollars. Now I just have to wait for the info to come in the mail from Ford Credit.