Maverick Financing / Lease Guaranteed Approval Program [Valid Until March 31, 2022]

[bgillen35]

Some of you might be asking the same question regarding if you should go with your credit union/Bank or Ford financing. If I apply at my credit union for a loan and let's say it's approved for 2.1%, but I want to see if I can get a better rate with Ford; would the 1st affect my credit score on the 2nd application? For anyone who cares to answer. Thanks.

Generally when you apply for loans (car, home, personal, etc.) the credit companies realize you are shopping around so multiple inquiries within a certain time frame will not adversely effect your score. I do not know what that time frame is but as long as you're shopping within the same week, you should be safe.

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[Darnon]

Some of you might be asking the same question regarding if you should go with your credit union/Bank or Ford financing. If I apply at my credit union for a loan and let's say it's approved for 2.1%, but I want to see if I can get a better rate with Ford; would the 1st affect my credit score on the 2nd application? For anyone who cares to answer. Thanks.

Hard credit checks for the same purpose (so an auto loan in this case) within the same 14-30 days are grouped together as far as affecting your score.

 

[Falcon first]

Why pay cash, depends on your age and personal financial situation. Social Security is going to get one of the biggest increases in history estimated at around 5.6% and why because of inflation. So why pay cash, have you checked CD rates, Synchrony is paying .5% so based on inflation you lose 5.1%. Not everyone wants to put all their money in the stock market because you know things like 2008 hit and you can lose 40% which sucks when your 68. Everyone’s situation is different, diversify, cash, bonds, stocks are all good but age and and total assets determine if taking on more debt is the best thing even at 0%.

 

[bgillen35]

So does anyone know what this actually means for anyone with tier one credit already? Does this lock in the MSRP of the vehicle so the prices can't be jacked up either?

 

[Gmood1]

Some of you might be asking the same question regarding if you should go with your credit union/Bank or Ford financing. If I apply at my credit union for a loan and let's say it's approved for 2.1%, but I want to see if I can get a better rate with Ford; would the 1st affect my credit score on the 2nd application? For anyone who cares to answer. Thanks.

It's supposed to work like the other posters say. But it doesn't always work that way. It depends on how the inquiries are coded. Don't count on them being scored as a single inquiry.

That being said, inquirers aren't that big of deal as some may think. Depending on how many you already have that are scorable , will determine if you even get a ding from the inquiry.
Once you pass a certain number. Your score no longer drops. Inqs only count against your score for 12 months. Though they will report for 24 months.

Don't let inqs stop you from hunting the best deal. They aren't a life sentence and disappear in no time.

 

[Chris McD]

My credit score is already really good to begin with. I just want 0% APR.

 

[jtpc2021]

Doug’s take on why it makes more sense to finance most of the time (even if you have the cash).

 

[Redneck Garage]

Because I can. We are seniors on (mostly) fixed incomes and make a priority of keeping our monthly expenses as low as possible- and stable as possible so no surprises in our budget. We don't need to build credit or retirement accounts and only financed item is our house. Ca$h is King!

Welcome to your next audit - anything over 10K is reported ...............

 

[Redneck Garage]

So, for someone like me, who usually only keeps a vehicle for about 3 years, this just seems great.

Except with minimal down you could very well be upside down on the vehicle.

 

[Hoosier Daddy]

I had a repossession many years ago. I wonder if it will show up on my credit report?

I don’t think this is a bragging forum!?

Not bragging. If I kick the bucket anytime soon my family won`t be stuck with the debt.

 

[Redneck Garage]

Not bragging. If I kick the bucket anytime soon my family won`t be stuck with the debt.

and hopefully the truck will arrive before your pushing up daisies ....

 

[Hoosier Daddy]

and hopefully the truck will arrive before your pushing up daisies ....

Yup we`ll see.

 

[huunvubu]

Doug’s take on why it makes more sense to finance most of the time (even if you have the cash).

What a wind bag. Took him 5 minutes to get to his first point.

Point #1 debt is cheap.

His example of 1.99% 48 months loan is a money losing proposition for me currently earning 0.5% in my saving account.

I only plan to finance if the 0% 36 month loan with no fees is available as that would actually earn me 0.5% by keeping the cash in my savings account over the life of the loan.

Point #2 invest the extra cash in the stock market.

So he says to the financial unaware go gamble your money in the market even though it is currently at a very high peak and has days like the $600 drop that the Dow experienced last Monday.

I have investment accounts (IRA's, 401K's) for stock investing. I keep my savings away from investing as those savings assets need to be readily available.

I have been debt free since 2000 and plan to stay that way going forward.

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