Financing thoughts

[beckerroth]

Is anyone seeing special financing rates through Ford Credit being offered on the Maverick. What is the current rate through them with great credit scores? Or are you going somewhere else?

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[Lyle]

Is anyone seeing special financing rates through Ford Credit being offered on the Maverick. What is the current rate through them with great credit scores? Or are you going somewhere else?

the last I seen Ford was offering 0%-36 month, .9%-48 months, 1.9%-60 months shown on the Maverick build page.

 

[Fleshman03]

I also suggest shopping around. Here's some I found with better rates:

https://www.georgiasown.org/vehicle-loans/ <--- best I've found so far.
https://www.wheelhousecu.com
https://www.dcu.org/borrow/vehicle-loans/auto-loans.html
https://www.penfed.org/auto/rates

 

[rev21jon]

Something that is on my mind Ford and Maverick enthusiasts. Having ordered my truck in July, the longer it takes to take delivery of this truck the higher the price (inflation) is going to possibly be. Not to mention the possibility of rate changes (Fed chatter) it could be a one/two punch depending on time frame. Of course you cant build trucks without materials I certainly understand that.​

 

[brnpttmn]

https://www.georgiasown.org/vehicle-loans/ <--- best I've found so far.

Looks good for 60+ months, but under 60 months the Ford rates are pretty unbeatable.

 

[uh50]

Is anyone seeing special financing rates through Ford Credit being offered on the Maverick. What is the current rate through them with great credit scores? Or are you going somewhere else?

I financed through Ford for a little under 4% at 72 months, and my credit score was 795. We are retired and a lower payment is necessary, thus the 72 month financing. Ford's rate was better than my pre-approval through Capital One. Probably could have gotten lower rate at a credit union, but another hard credit check just reduces my scores.

 

[jwiedle24]

the last I seen Ford was offering 0%-36 month, .9%-48 months, 1.9%-60 months shown on the Maverick build page.

These show as valid through January 3rd on the build page. My Lariat Hybrid is supposed to be built the week of Dec20, so it wouldn’t come in till mid-January best-case scenario.

So will dealers lock in a rate for a retail order made in June or are we all at the mercy of whatever Ford puts out after Jan3?

 

[bgn]

These show as valid through January 3rd on the build page. My Lariat Hybrid is supposed to be built the week of Dec20, so it wouldn’t come in till mid-January best-case scenario.

So will dealers lock in a rate for a retail order made in June or are we all at the mercy of whatever Ford puts out after Jan3?

You are at the mercy of Ford. The rates have been the same for months though.

 

[Lyle]

Mine is supposed to be built this week, but I’m sure I won’t have it by Jan.3. I have nothing from the dealer that says I’m locked in to the rate when I ordered. As posted they have been rolled over two times since I started this adventure.

 

[brnpttmn]

These show as valid through January 3rd on the build page. My Lariat Hybrid is supposed to be built the week of Dec20, so it wouldn’t come in till mid-January best-case scenario.

So will dealers lock in a rate for a retail order made in June or are we all at the mercy of whatever Ford puts out after Jan3?

They've extended the rates twice, so I'd expect toward the end of the month they'll extend them again.

 

[MarkG]

Mine is supposed to be built this week, but I’m sure I won’t have it by Jan.3. I have nothing from the dealer that says I’m locked in to the rate when I ordered. As posted they have been rolled over two times since I started this adventure.

Yeah, my pre approval with Capital One is good until Jan 2. Unlikely to have the truck by then. I plan to secure my financing as soon as I have an ETA and am within 30 days.

 

[jwiedle24]

They've extended the rates twice, so I'd expect toward the end of the month they'll extend them again.

I sure hope so. I’ve only ever had a 0.9% 60mo loan on my two previous new car purchases, so not looking to break that trend! One of the few things that could make me walk is a crappy rate because I refuse to waste money on interest. That and a lowball trade-in offer.

 

[zeketolliver]

Something that is on my mind Ford and Maverick enthusiasts. Having ordered my truck in July, the longer it takes to take delivery of this truck the higher the price (inflation) is going to possibly be. Not to mention the possibility of rate changes (Fed chatter) it could be a one/two punch depending on time frame. Of course you cant build trucks without materials I certainly understand that.​

A lot if the answer depends on you mean by inflation.

Are you speaking in terms of relative cost, or what you payment will be relative to your rent, food, and utilities?

Are you talking about MSRP inflation, or how much you will have to finance in raw dollars?

Some other meaning?

 

[pxpaulx]

I financed through Ford for a little under 4% at 72 months, and my credit score was 795. We are retired and a lower payment is necessary, thus the 72 month financing. Ford's rate was better than my pre-approval through Capital One. Probably could have gotten lower rate at a credit union, but another hard credit check just reduces my scores.

Just so that others see just how much more a 4%/72 month loan costs vs a 2%/60 and 1%/48:

72:

60:

48:

Not doing this to single you out! Primarily want to point out the small difference, particularly between the 72 and 60 month loans. We are talking $57 dollars/month to save yourself over $2,000 in interest - you'll also build the equity in the vehicle much quicker, and be paid off a year sooner.

Even if the loan is for $20,000 - the difference still ends up at $1,500. To everyone buying and financing - your future self will thank you. Also a general caveat - if $57/month means the difference between affording the payment or not, you should be looking at a quality used vehicle for less (though I understand the current market makes this significantly more difficult...)

2% vs 4% doesn't sound like much, but there is a reason banks are in business...

 

[brnpttmn]

I sure hope so. I’ve only ever had a 0.9% 60mo loan on my two previous new car purchases, so not looking to break that trend! One of the few things that could make me walk is a crappy rate because I refuse to waste money on interest. That and a lowball trade-in offer.

Yeah. I'm going for 0%/36, and I should be able to get the deal done before 1/3, but I hope for everyone's sake that they extend the rates again (particularly with the hybrid delay).

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