Ford Financing Interest Rates Increased

[Bono7]

I was also told that the rates offered at time of order would be honored at delivery. I'm not even scheduled for production yet, so I see several rate increases before delivery. Seems like there are mixed opinions on this. Does anyone know for fact? Is it dealer's choice?

Do you know of any honest salespersons? Lawyers then car salesmen biggest 2 crooks on earth.

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[jcnnjc]

Might be different at different dealer's, My salesman told me I would get the rate they had unless they got better, then I could take the better rate.

Its all on my paperwork.

I would ask for sure!

 

[DryHeat]

I talked to my salesman and the owner of the dealership about this interest rate rise today.

The owner's first question was "Did you put his deal into Smart Vincent (computer system) when it was still 0%?"

I got the salesman to do that a couple of months ago when I got my VIN. He printed out a copy of the Smart Vincent report for me, gave it to me, and put a copy in my file.

I showed it to the owner and she said that with that my deal was locked in. What they actually do is make an adjustment to the price when we close the deal so that my real cost would be the same as if I had 0% interest.

 

[TopGunGoose]

Interest rates do not matter when the dollar is toasted as a world reserve currency.

But yea.

 

[Naranjita]

Remember, it's not Ford's fault and they aren't making more money. It will now cost them more to borrow money to fund the loans. Some lenders may be able to hold out longer because they may be working off of assets or credit facilities with remaining reserves purchased at lower rates. But those will run out and they will go up too.

Everyone's rates of borrowing is going up. Even the banks and lenders. Credit Unions who fund auto loans against their member assets may be able to hold out longer. But my credit union funds large loans like homes and autos through a large Credit Union Co-Op. So if the Co-Op raises the rates, they go up at my credit union.

 

[brdl04]

Are you trying to say that I was mislead by my sales person

First off, we are probably more knowledgeable on Maverick delays, specs, incentives and issues than most salespeople. They aren't purposefully misleading. They don't know.

That being said, my salesperson who told me that may not know either....

 

[clavicus]

If you're still fishing around for a good rate, I can recommend PenFed. You may not even have to be a member to apply for the auto loan if you have the VIN and know the specific amount you want to finance. I think pre-approved financing is usually what requires a membership and 90-day waiting period; I could be mistaken but I don't think that applies if you're going straight for a specific vehicle and specific financing amount.

In any case, if you're interested you should just give them a call and ask them what's the best thing to do in your case whether you're a member or not.

https://www.penfed.org/auto/rates

 

[jc888888888]

Unfortunately everyone saw this one coming due to the recent Fed announcements (especially considering they plan to raise rates multiple times). At this point I'm gonna have to cross my fingers that there won't be additional increases between now and whenever my truck is actually delivered. I'm definitely gonna have to look for better alternatives with my CU, etc.

I knew the 0% free money was not going to last ,10 year treasury is up 20% in the last month ,1% is still cheap .Dang my truck is in transit was hoping to slide in on the free money ....

 

[NotAnonymous]

I knew the 0% free money was not going to last ,10 year treasury is up 20% in the last month ,1% is still cheap .Dang my truck is in transit was hoping to slide in on the free money ....

Def still relatively cheap, but no guarantees it will be by the time mine finally makes it to the dealership. The flipside is more for a down payment to at least somewhat minimize the effects of rising rates.

 

[NJ Pinelands]

I sold my 2015 Honda Fit Ex with 43,800 miles on it to Carvana for $16,523. The dealership only offered $11,750.

$5,000 more ? Wow !!!

 

[MarkG]

Interest rates do not matter when the dollar is toasted as a world reserve currency.

But yea.

Interest rates are the only thing that will affect the monthly payment if you are buying for MSRP.

 

[pa-outdoorsman]

Interest rates are the only thing that will affect the monthly payment if you are buying for MSRP.

Well, interest rates and the amount of your down payment.

 

[TS0323]

I just got Ford to match DCU at 1.24 for 65 months through Capital One financing. They also came up with a rate of 1.75 for 72 months which actually beat DCU so I went with that.

 

[pa-outdoorsman]

I just got Ford to match DCU at 1.24 for 65 months through Capital One financing. They also came up with a rate of 1.75 for 72 months which actually beat DCU so I went with that.

When you say "Ford," do you mean you spoke directly with Ford Credit, or worked through your finance manager at your local dealer?

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