Ford Credit Interest Rate For Rolled Over 2023 Maverick

[RevBo]

I ordered my Z-Plan Maverick on 10/18/21 from a large Dallas dealer. A couple of months ago (one year after my original order) the dealer told me it was changed to a 2023. It is now built and should be to dealer by 12/19. I spoke with the F & I guy a couple days ago and he stated that because it was moved to a 2023, I would not be able to get the Ford Motor Credit lower interest rate that was on when I ordered it last year (0% @ 48 months). I am getting the $2750.00 rebate due to the date of my original order. Is this correct regarding the Ford Motor Credit, or am I about to get ripped? Please advise.

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[BradnChristine]

I ordered my Z-Plan Maverick on 10/18/21 from a large Dallas dealer. A couple of months ago (one year after my original order) the dealer told me it was changed to a 2023. It is now built and should be to dealer by 12/19. I spoke with the F & I guy a couple days ago and he stated that because it was moved to a 2023, I would not be able to get the Ford Motor Credit lower interest rate that was on when I ordered it last year (0% @ 48 months). I am getting the $2750.00 rebate due to the date of my original order. Is this correct regarding the Ford Motor Credit, or am I about to get ripped? Please advise.

Sadly, it is correct. All those price protections and great 0% interest rate incentives are gone, to be replaced by a 2023 price increase that is mostly offset by the $2750 private offer. We're getting a year newer vehicle, but definitely hosed in the interest rate.

 

[RevBo]

Sadly, it is correct. All those price protections and great 0% interest rate incentives are gone, to be replaced by a 2023 price increase that is mostly offset by the $2750 private offer. We're getting a year newer vehicle, but definitely hosed in the interest rate.

Not liking this, but thanks for the info.

 

[BradnChristine]

Not liking this, but thanks for the info.

Yup. I HAD 0% for 36, plus 2 extra months. Now the dealer isn't gonna get credit for a loan. Not gonna get a Ford loan. FordVideoGuy has verified it a few times.

 

[Eagle11]

I ordered my Z-Plan Maverick on 10/18/21 from a large Dallas dealer. A couple of months ago (one year after my original order) the dealer told me it was changed to a 2023. It is now built and should be to dealer by 12/19. I spoke with the F & I guy a couple days ago and he stated that because it was moved to a 2023, I would not be able to get the Ford Motor Credit lower interest rate that was on when I ordered it last year (0% @ 48 months). I am getting the $2750.00 rebate due to the date of my original order. Is this correct regarding the Ford Motor Credit, or am I about to get ripped? Please advise.

Yeah, as others have stated, no 0%, but I have to clarify something, the 0% was not for 48 months, but for 36 months. Shop around and see if your bank or credit union can beat what Ford offers. I feel for you and others right now buying as interest rates are insane.

 

[RR - All the way]

Interest rates insane?? Eagle 11 is either as young as his picture shows or has a short memory. Interest rates for a vehicle are still low if compared to a historical average.
If you have a good credit history, I doubt that a credit union will be lower than that offered by Ford. Watch that the dealer doesn't put a higher interest rate than that offered by Ford Motor Credit.l

 

[Bigbill27]

Yeah, as others have stated, no 0%, but I have to clarify something, the 0% was not for 48 months, but for 36 months. Shop around and see if your bank or credit union can beat what Ford offers. I feel for you and others right now buying as interest rates are insane.

My first car finance rate was 12%, and that was considered a fair rate at the time. You need to evaluate things in a historical perspective.

 

[jsus]

Incentive and price protection are tied to the order, they're what was on order when the vehicle was ordered.

Your MY2022 order was unfilled. A new MY2023 Maverick order was submitted, and as such, incentive and price protection are based on that order date. Part of why they have historically offered these protections is that it typically only takes a couple months max to get a new custom order vehicle. Thus, locking in low interest rates hasn't really been a problem. However, interest rates have risen quite a bit since the 0%/36, 0.9%/48, 1.9%/60, etc. offers were made.

Calling it a rollover is misleading. The MY22 order goes unfulfilled, a brand new MY23 order was created. Everything is lost - you started over anew.

Further, there were no MY23 Maverick Ford Credit incentive rates available when the order bank was open. Thus, your finance rates will be whatever Ford Credit or your local/national lender happens to offer when the vehicle is delivered to the dealer.

The only thing you get on your MY23 order over anyone who didn't have an unfulfilled MY22 order, is the $1,750 EcoBoost or $2,750 Hybrid. And if you had a build date/VIN for your MY22 order, you might get it a little sooner than other MY23 orders.

My first car finance rate was 12%, and that was considered a fair rate at the time. You need to evaluate things in a historical perspective.

Or maybe just because something was accepted in the past 1) doesn't mean that it was ever financially prudent for anyone, 2) doesn't mean that we should accept it today, unless it comes with a steep discount on the purchase price.

1.9% to finance a brand new car for 60 months is one thing, the total interest payments are a relatively small % of the principal amount. 12% would've kept me and many others from seeing a value proposition, whether in a Maverick or any other new vehicle.

As an exercise, for let's take a $21,500 base 2022 Maverick XL Hybrid on launch date, ignoring taxes and fees.

1.9% 60 months: $376/mo, $1,054 total interest, 4.9% of principal paid in interest

12% 60 months: $478/mo, $7,195 total interest, 33.5% of principal paid in interest

That's an extra $6,141 in interest, 28.6% of the purchase price, 581% more interest. $102/mo, $1224/yr. Not insignificant and definitely changes the affordability.

And for good measure, one of the lower rates currently available at a CU near me:

 

[RevBo]

Incentive and price protection are tied to the order, they're what was on order when the vehicle was ordered.

Your MY2022 order was unfilled. A new MY2023 Maverick order was submitted, and as such, incentive and price protection are based on that order date. Part of why they have historically offered these protections is that it typically only takes a couple months max to get a new custom order vehicle. Thus, locking in low interest rates hasn't really been a problem. However, interest rates have risen quite a bit since the 0%/36, 0.9%/48, 1.9%/60, etc. offers were made.

Calling it a rollover is misleading. The MY22 order goes unfulfilled, a brand new MY23 order was created. Everything is lost - you started over anew.

Further, there were no MY23 Maverick Ford Credit incentive rates available when the order bank was open. Thus, your finance rates will be whatever Ford Credit or your local/national lender happens to offer when the vehicle is delivered to the dealer.

The only thing you get on your MY23 order over anyone who didn't have an unfulfilled MY22 order, is the $1,750 EcoBoost or $2,750 Hybrid. And if you had a build date/VIN for your MY22 order, you might get it a little sooner than other MY23 orders.



Or maybe just because something was accepted in the past 1) doesn't mean that it was ever financially prudent for anyone, 2) doesn't mean that we should accept it today, unless it comes with a steep discount on the purchase price.

1.9% to finance a brand new car for 60 months is one thing, the total interest payments are a relatively small % of the principal amount. 12% would've kept me and many others from seeing a value proposition, whether in a Maverick or any other new vehicle.

As an exercise, for let's take a $21,500 base 2022 Maverick XL Hybrid on launch date, ignoring taxes and fees.

1.9% 60 months: $376/mo, $1,054 total interest, 4.9% of principal paid in interest

12% 60 months: $478/mo, $7,195 total interest, 33.5% of principal paid in interest

That's an extra $6,141 in interest, 28.6% of the purchase price, 581% more interest. $102/mo, $1224/yr. Not insignificant and definitely changes the affordability.

And for good measure, one of the lower rates currently available at a CU near me:

Excellent points! My concern is not what rates were years ago per Bigbill27's response...I could care less. I want to be sure my F & I guy is shooting straight, since he never mentioned a Ford Motor Credit rate but only rates he had from a couple of Credit Unions and banks and he stated the lowest rate he had was 4.99%. My FiCO is 820 and I want to be sure I'm getting the best rate possible. I'm good now. Thanks again!

 

[brucerob62]

I ordered my Z-Plan Maverick on 10/18/21 from a large Dallas dealer. A couple of months ago (one year after my original order) the dealer told me it was changed to a 2023. It is now built and should be to dealer by 12/19. I spoke with the F & I guy a couple days ago and he stated that because it was moved to a 2023, I would not be able to get the Ford Motor Credit lower interest rate that was on when I ordered it last year (0% @ 48 months). I am getting the $2750.00 rebate due to the date of my original order. Is this correct regarding the Ford Motor Credit, or am I about to get ripped? Please advise.

I just got a 22 model for 1.9% for 3 years.. best i could do..

 

[JBryant]

Not liking this, but thanks for the info.

Just got 1.9% for 36 months at FMC. Such short terms and low amounts do not add that much interest and payment will be just a few dollars more per month.

What part of DFW are you in? I am located in the area as well and trying to find other area Maverick owners.

Hope you enjoy yours as much as I do mine.

 

[RevBo]

Just got 1.9% for 36 months at FMC. Such short terms and low amounts do not add that much interest and payment will be just a few dollars more per month.

What part of DFW are you in? I am located in the area as well and trying to find other area Maverick owners.

Hope you enjoy yours as much as I do mine.

Thanks! I'm in Frisco. My Mav is supposed to arrive between December 13-19. Hoping for an early Christmas present! XLT Hybrid...Area 51...Luxury Group...Ford 360...Remote Start. How about you?

 

[jsus]

Just got 1.9% for 36 months at FMC. Such short terms and low amounts do not add that much interest and payment will be just a few dollars more per month.

What part of DFW are you in? I am located in the area as well and trying to find other area Maverick owners.

Hope you enjoy yours as much as I do mine.

Yours is a 2022? Ford Credit incentive rates vary based on model and model year; 2023 Mavericks currently are whatever the going rate is any given day.

You can see this on the build & price tool.

2022 Maverick shows 1.9%/36 mo

2023 does not

 

[RevBo]

This is totally not a knock on you, or anyone in particular, but it is interesting to see all the fretting about over interest rates on the cheapest truck on the market. I mean, I know not everyone can just drop 25K on a truck, but I do sometimes think "how can a dude be white hair old, have an 820, and not be able to at least plunk 10k down on the thing?". LOL, again, I know that is a bit boorish, but really, this is a bargain basement truck, a few interest points on a Maverick is not a big deal (compared to just about every other vehicle purchase).

Lol! I am 68, and yes, I am a "dude" with white hair, actually "plunking down" 18K and only carrying back a 10K loan per my financial planner, and yes, retired comfortably after selling my company! I'm no Elon Musk and have always attempted to get the best rates on any interest I've paid whether on my Lexus or this Maverick. I guess this is in part why my wife and I are very comfortable and enjoying our children and grandchildren at our age without ever worrying about being a burden to them! And, during our 49 years of marriage we've always been faithful to God in giving our tithes and offerings...I'd like to believe I've never been greedy but instead, wise! I wish for you the very best for Christmas!

 

[Julinico]

Thanks! I'm in Frisco. My Mav is supposed to arrive between December 13-19. Hoping for an early Christmas present! XLT Hybrid...Area 51...Luxury Group...Ford 360...Remote Start. How about you?

When was your build date?

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