🔒 Ford Credit Finance Rate Lock Program - For 2023 Models Ordered by 1/3/23

[UberGadgetFreak]

If you have over 800, Ford will beat the Credit Unions. Credit Unions have to make a profit for their members; Ford simply wants to pay off the truck. At 800 and Tier 0, you should get an outstanding rate.

I found this to be true when I got my MY22 in January, but it was only a 0.30% lower rate. Then again, my rate is 1.94% from January, so its before recent changes in the world, too. Might be worth my while to apply for the Ford thing to get a rate quote now in case things do inch higher. Hmm.

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[aswistak]

...
This memo is saying that "standard" Ford Credit rates can also be "protected" (for up to 180 days), but you must apply for the financing ahead of time to get locked in.
...

For up to 180 days isn't going to help if I have to wait ~300 days like I did for my 22 that I just got last week... of course I was able to smartvincent back to 0% rate so I'm not complaining there!

 

[Syntax Error]

That's why I'm wondering what's the point of getting a preapproval now (and eat the hard credit inquiry) if you can just go back via SmartVincent and get the rates at the time of ordering? Better to stay flexible to see if the rates improve a year from now which is when our Mavericks will hopefully be available to purchase.

 

[Your_Cousin_Vinny]

This truly is a different world these days... waiting a year for a car, paying over MSRP, interest rates creeping up by whole percentage points. Crazy.

Back when I got my Fusion (around this time in 2016), it was 2 months from the day I ordered to taking delivery, I got 1500 off MSRP, and I was basically given 0% financing with hardly a word of resistance, at 23 years old...

If I'm buying at msrp, there is no way in hell that I'm going to finance at anything more than maybe 0.9%. And if that's not an option (probably won't be) then cash it will be.

 

[gwrace14651]

I guess the days of zero percent financing are gone that I used on my last two car purchases.

 

[btas]

When you order the current rates are your locked in rates and incentives(Protect Date on SmartVincent when you purchased). Some vehicles have a low rate going on, mainly vehicle lines that are struggling to get retail (customer) orders like SUVs (Edge, Escape, Explorer, Expedition, Bronco Sport, F150).

Is the Maverick one of the Fords that will offer the protected rate lock in?

 

[KevCuRaoi]

For up to 180 days isn't going to help if I have to wait ~300 days like I did for my 22 that I just got last week... of course I was able to smartvincent back to 0% rate so I'm not complaining there!

No, it probably won't be very helpful for Mavericks! But there are other vehicle lines that have (most likely) less than 6 months between order and delivery.

 

[KevCuRaoi]

That's why I'm wondering what's the point of getting a preapproval now (and eat the hard credit inquiry) if you can just go back via SmartVincent and get the rates at the time of ordering? Better to stay flexible to see if the rates improve a year from now which is when our Mavericks will hopefully be available to purchase.

Only special "low" rates are protected in smart vincent.
There may be no subvened /low rates available for whatever vehicle in whatever market area on the order date. This program will lock in "standard" Ford Credit rates.

 

[commadorebob]

Might be useful for us EB orders.

*runs away*

 

[paneubert]

Might be useful for us EB orders.

*runs away*

Dude.....I will probably be tarred and feathered for this, but with being pushed so many times for my 2022 production week, I would not be surprised if I end up being scheduled for my 2023 EcoBoost before my 2022 is even produced......

 

[ListedGuru]

Only special "low" rates are protected in smart vincent.
There may be no subvened /low rates available for whatever vehicle in whatever market area on the order date. This program will lock in "standard" Ford Credit rates.

Do you (or anyone else) happen to know what those standard Ford Credit rates are currently? I have an EB and a Hybrid on order so I will most likely get the EB first (might never see the Hybrid, lol).

Is that 180 day lock in from the date of order or the date of production (or something else)?

 

[KevCuRaoi]

Do you (or anyone else) happen to know what those standard Ford Credit rates are currently? I have an EB and a Hybrid on order so I will most likely get the EB first (might never see the Hybrid, lol).

Is that 180 day lock in from the date of order or the date of production (or something else)?

I'm not sure. I don't deal with the finance stuff myself...... They used to have the standard rates listed, but now you have to submit an application to get a rate. Probably around 5.5% would be my guess.

180 day lock in would be 180 days from the approval of the financing.

 

[AznMav]

I have a 2022 rollover and ordered on 11-15 last year. Any way to tell what the protected rate would be?

 

[jsus]

I have a 2022 rollover and ordered on 11-15 last year. Any way to tell what the protected rate would be?

Unless your 2022 order was scheduled, no pricing or interest rates are kept from then. The 2022 order doesn't matter any longer, except for your personal wait time. You now have a 2023 order with any promo interest rates from last month locked in.

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