Finance or Lease your Maverick?

[Platinum2]

Cash.

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[Air Shootist]

$40K cash for my Lariat with all the bells & whistles. Gonna see if they let me put most of it on credit cards so I can earn those sweet, sweet points.

If they have the 0% financing for 36 months I might pay 50% of it on pickup and do 0% payments for the rest to help boost my impeccable credit score.

 

[bschurman]

$40K cash for my Lariat with all the bells & whistles. Gonna see if they let me put most of it on credit cards so I can earn those sweet, sweet points.

If they have the 0% financing for 36 months I might pay 50% of it on pickup and do 0% payments for the rest to help boost my impeccable credit score.

Why not pay 0% of it, invest the 40k and let it work for you while you pay off the free money in due time? It’s actually cheaper the longer the term on the loan.

 

[Air Shootist]

Why not pay 0% of it, invest the 40k and let it work for you while you pay off the free money in due time? It’s actually cheaper the longer the term on the loan.

I've thought about that, too, and it's a great idea. Thanks for your comment. I kinda wanted to just ball out, though. Haha.

 

[Deleted member 1370]

im planning on financing. id rather own the truck vs rent it. its just a me thing, i dont like to rent. Granted its also my first vehicle im buying on my own under my own steam and with my credit score just being built up now since up until earlier int he year id paid everything in my life in full with cash, i have a big enough down payment to slap on the table finance at a fair rate of interest (hopefully under 10% interest at my credit score) and finance it over 4 years, maybe 5 at most IF i need too. thats an IF.

 

[Gmood1]

im planning on financing. id rather own the truck vs rent it. its just a me thing, i dont like to rent. Granted its also my first vehicle im buying on my own under my own steam and with my credit score just being built up now since up until earlier int he year id paid everything in my life in full with cash, i have a big enough down payment to slap on the table finance at a fair rate of interest (hopefully under 10% interest at my credit score) and finance it over 4 years, maybe 5 at most IF i need too. thats an IF.

Make sure you get your own financing if possible.
Good place to start is with a few nationwide credit unions.
Navy Fed, Pen Fed, DCU, BCU or maybe Redstone FCU to name a few.

Redstone will give you the best rate with a 730 FICO 9 EX or higher.
As long as your loan to value is in their sweet spot.

Most of those I've listed above, you can get rates ranging between 1 and 3 percent. Depending on the number of months you opted to finance.

For example, Navy Fed is 2.29% for 72 months.
USAA is 1.89% for 60 months.
Don't get hosed on your rate.
Do your homework. And pull your true Fico scores to see where you are at.

You can go to Experian's main website and pull all three scores.
And several of your other fico scores. Such as Bank card, Auto and Mortgage.

 

[Darnon]

DCU is great especially if you're getting the hybrid. If you have an account with them receiving direct deposit you can get 1.49% @ 65 months and 1.24% with the hybrid.

 

[Down]

Make sure you get your own financing if possible.
Good place to start is with a few nationwide credit unions.
Navy Fed, Pen Fed, DCU, BCU or maybe Redstone FCU to name a few.

Redstone will give you the best rate with a 730 FICO 9 EX or higher.
As long as your loan to value is in their sweet spot.

Most of those I've listed above, you can get rates ranging between 1 and 3 percent. Depending on the number of months you opted to finance.

For example, Navy Fed is 2.29% for 72 months.
USAA is 1.89% for 60 months.
Don't get hosed on your rate.
Do your homework. And pull your true Fico scores to see where you are at.

You can go to Experian's main website and pull all three scores.
And several of your other fico scores. Such as Bank card, Auto and Mortgage.

I plan to be pre approved ahead of time as a fallback but if Ford keeps their current advertised rates? I'm not sure whether I'm going 4 years at 0.9% or 5 years at 1.9% and paying off early, but either are gonna be pretty damn hard to beat by a meaningful margin. If one wanted to go out 72 months, Navy Fed @ 2.29% seems pretty good tho, I'll admit.

 

[CLH917]

This is true. What are you long on? haha

SPY and SPY calls

 

[Gmood1]

I plan to be pre approved ahead of time as a fallback but if Ford keeps their current advertised rates? I'm not sure whether I'm going 4 years at 0.9% or 5 years at 1.9% and paying off early, but either are gonna be pretty damn hard to beat by a meaningful margin. If one wanted to go out 72 months, Navy Fed @ 2.29% seems pretty good tho, I'll admit.

I was also checking out the Ford rates. Which are very good!
I believe Ford pulls TransUnion from research. Navy pulls TU as well. And DCU pulls Equifax.

Not sure what FICO TU Ford uses.
Navy uses Fico 9 TU and DCU uses an older mortgage FICO scoring system.

 

[Art Vandelay]

I don't normally lease my vehicles but I'm planning on leasing the Maverick. This is a new vehicle and Ford has a history of adding additional options and changing packages around in the first few years. Right now there are some features that aren't even available on the Maverick that I'm hoping they'll add as options over the next few years. Two examples that immediately come to mind are Memory seats and Homelink. It's two things that I use frequently on my current vehicle. Hopefully as Ford gets customer feedback over the next couple of years they'll add some missing options and then I'll be able to purchase the one I really want. If that doesn't happen then I might end up buying the lease out at the end or maybe there will be another small truck that fits my needs better in 3 years.

 

[Down]

I was also checking out the Ford rates. Which are very good!
I believe Ford pulls TransUnion from research. Navy pulls TU as well. And DCU pulls Equifax.

Not sure what FICO TU Ford uses.
Navy uses Fico 9 TU and DCU uses an older mortgage FICO scoring system.

Of course! I predominately keep track of Experian and Equifax; figures, haha. Then again, I've also heard (but in now way confirmed), that Ford isn't too terribly strict on their requirements for top tier rates, only requiring mid to low 700s.

 

[Gmood1]

Of course! I predominately keep track of Experian and Equifax; figures, haha. Then again, I've also heard (but in now way confirmed), that Ford isn't too terribly strict on their requirements for top tier rates, only requiring mid to low 700s.

Recently saw where someone qualified for the best rates with a 675 TU FICO 8 score. So unless it's changed in the last couple of months. Shouldn't be too difficult to get the best rates they offer.

 

[Darnon]

Yeah, I've heard Ford Financing is pretty generous with their rate tiers as long as you haven't had any delinquencies with them directly in the past.

 

[Down]

Recently saw where someone qualified for the best rates with a 675 TU FICO 8 score. So unless it's changed in the last couple of months. Shouldn't be too difficult to get the best rates they offer.

Wow. I don't claim to keep up on these much but I'm surprised, and relieved, by that.

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