FORD FINANCING
04-10-2005, 04:23 PM
#11
2nd Gear Member
Join Date: Jan 2005
Location: New Jersey
Posts: 377
RE: FORD FINANCING
i am 23 years old with a credit score of 790..i got 4.25% interest through my credit union and ford wanted to give me 6 or 7..when i told them i was financing through my credit union they dropped their interest rate to 4.25% also..but i still stuck with my credit union cause they are better
04-12-2005, 01:32 AM
#14
Join Date: Apr 2005
Location:
Posts: 15
RE: FORD FINANCING
Some dealers will get kick backs from finance companies if they get you to sign at a higher interest rate. I strongly reccomend walking into a dealer pre-approved with your own financing, if they can beat your interest rate great if not you already know where you stand.
The online companies listed above are the best deal going. They send you a check for your approved amount, you make your best deal, fill out the check for any amount up to your approved limit, sign it and the dealer accepts it as a bank draft. A couple of days later you get your final loan documents in the mail. Many credit unions do the same thing.
The online companies listed above are the best deal going. They send you a check for your approved amount, you make your best deal, fill out the check for any amount up to your approved limit, sign it and the dealer accepts it as a bank draft. A couple of days later you get your final loan documents in the mail. Many credit unions do the same thing.
04-25-2005, 09:12 PM
#15
2nd Gear Member
Join Date: Apr 2005
Location: Yonkers, NY Westchester County
Posts: 259
RE: FORD FINANCING
im a finance manager at a ford dealership.....that rate might not be obscene really...do you know what your fico score is...if its anywhere between 650-800 then yes its a high rate...if its below then no its not a bad rate 
08-28-2005, 04:27 AM
#18
2nd Gear Member
Join Date: Aug 2005
Location: Houston TX
Posts: 222
RE: FORD FINANCING
I have a 765 credit score and ford gave me 9.25. My buddy who used to ork at ford said the dealership usually adds 2-3 percent to make money on the "back-end". I knew it was high but I had to do it to get the car off the lot. I was just going to test drive with the intention of buying later but you know how that sometimes goes I knew the car wouldn't be there after a trip to the bank so I signed the papers and took the car straight to my credit union where I got a 4.5 loan. I went back to pick up my other ride from the dealership parking lot and the other two GTs (that were loaded but stock...mine came with all the mods) were already gone. Hell...3 ppl asked about mine as I was filling out the paperwork. Moral to the story is...Ford as a last resort and REFINANCE. There are no penalties when refinancing a ford loan. You just pay the daily interest between the original loan from Ford and when your bank pays that off. In my case it was 9 bux a day for 10 days. Worth it to get the car you want.
I knew the car wouldn't be there after a trip to the bank so I signed the papers and took the car straight to my credit union where I got a 4.5 loan. I went back to pick up my other ride from the dealership parking lot and the other two GTs (that were loaded but stock...mine came with all the mods) were already gone. Hell...3 ppl asked about mine as I was filling out the paperwork. Moral to the story is...Ford as a last resort and REFINANCE. There are no penalties when refinancing a ford loan. You just pay the daily interest between the original loan from Ford and when your bank pays that off. In my case it was 9 bux a day for 10 days. Worth it to get the car you want.
