End of Year / New Year 1.9% 60mo Ford Financing Status?

[clavicus]

For those of you who did 60 month or longer financing, what rates have you gotten? Is Ford 1.9% still looking like it will continue through the New Year at all U.S. dealerships?

For those who went with Ford 1.9% 60 month does it seem very simple and clearcut, easy to pay monthly online? Is it debit only payments? Are credit card payments allowed? Autowithdraw perks of any kind? Just curious of the overall feel of going with the Ford financing option vs a credit union for essentially the same/similar terms.

Please don’t discuss your 0% and cash purchase strategy lol there are other threads for that already, Mr. Moneybags.

Sponsored

 

[onetequilatwo]

FYI - Plan on using my credit union is offering 1.9% for a 65 month. Guess there is a risk the rate could go up by the time my truck ships. That is when planning on getting pre-approve, which is good for 45 days.

 

[clavicus]

FYI - Plan on using my credit union is offering 1.9% for a 65 month. Guess there is a risk the rate could go up by the time my truck ships. That is when planning on getting pre-approve, which is good for 45 days.

Any qualms about falling back on the Ford option if the credit union rate slips for some reason?

 

[onetequilatwo]

Any qualms about falling back on the Ford option if the credit union rate slips for some reason?

Will have to see and look at all options. The zero and 0.9 options by Ford will be considered as well. Actually when order was never asked about financing. After receiving a production date will check again with the credit union and call my dealer regarding financing. Or another way is to let them know the build date, what my credit union is offering and ask what Ford financing is offering as well as seeing what they'd offer for my trading value and compare it to Carvana.

 

[Colby80]

Just got news my Maverick Lariat is going to be delivered on Jan 12th, at which point we'll be sitting down and talking financing and everything. My last few cars, I've gone the route of getting my financing in advance through a credit union or something. But I've never bought a new car and new car financing is usually better. Should I go in with a quote from my Credit union, or see what's out there from Ford when I get in?

 

[clavicus]

Just got news my Maverick Lariat is going to be delivered on Jan 12th, at which point we'll be sitting down and talking financing and everything. My last few cars, I've gone the route of getting my financing in advance through a credit union or something. But I've never bought a new car and new car financing is usually better. Should I go in with a quote from my Credit union, or see what's out there from Ford when I get in?

Definitely worth a shot getting quotes for credit union or other lenders. BUT the Ford rates are going to be pretty hard to beat on their 60 months or less terms. I'm planning on going for PenFed credit union 72mo at 2.4%. I figure why not spread out payments over another year for only ~0.4% more. My monthly payment will be $432 instead of $507 with Ford 1.9% 60-month. I'll spend approximately $600 more dollars in interest over the loan term but I'll have $700 more in my pocket each year. With inflation like it is I figure I might as well take as long of a term as possible (with a similar %rate) since money will be worth less each year but the payment stays the same. The money I keep this year and next year to spend or invest is worth more than the money I keep 5 years from now. My reasoning may be flawed but that's where I'm at.

 

[Colby80]

Definitely worth a shot getting quotes for credit union or other lenders. BUT the Ford rates are going to be pretty hard to beat on their 60 months or less terms. I'm planning on going for PenFed credit union 72mo at 2.4%. I figure why not spread out payments over another year for only ~0.4% more. My monthly payment will be $432 instead of $507 with Ford 1.9% 60-month. I'll spend approximately $600 more dollars in interest over the loan term but I'll have $700 more in my pocket each year. With inflation like it is I figure I might as well take as long of a term as possible (with a similar %rate) since money will be worth less each year but the payment stays the same. The money I keep this year and next year to spend or invest is worth more than the money I keep 5 years from now. My reasoning may be flawed but that's where I'm at.

That's kind of where I'm at — I have very good credit and am anticipating decent rates but it's strange to walk in not knowing what to expect.

 

[AceGoliath]

When I got my Bronco in September I went through my bank. With my great credit and the discount for being an account holder I ended up with 1.64% for 72 months. The dealer commented on how that's a great deal. They were a preferred dealer on my bank's list so the process was rather seamless. I'm going to try my bank again this time around, but I will give the dealer a chance again.

Sponsored