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

[Eagle11]

Cool. Which site can I use to see that?

https://www.annualcreditreport.com/index.action

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[Eagle11]

How is that scammy? You only pay a little more than a standard 60 mo.

Simple it helps people get into a more expensive car, the only way it helps is the bank, in the end you pay more for the car.

 

[Eagle11]

Sorry, I have no idea, from this information - graphic - what the Finance terms are which are being offered. I am definitely top tier and if it is 0.0% for for just 1 year... I will do that all day long! This is free money and it is a boost to your Credit score when you pay it off. I was going to use my Credit Union, but heck this is easier, convenient and simple stupid at 0.0%!!

Ford is in the drivers seat right now, I'm sure Tier 1-2 will get 0%, 3 years ago they were given Teir 3 0% and Tier 4 1.9 %.....

NO one should pay cash for a car if they can get ZERO %, set up automatic payments, from an account the money is in, and make $ on that account. When I bought my M5, BMW offered me 0.9% set up an account, auto payment (I got a 0.5% reduction in interest rate,) I went from 0.9% to 0.4% I would have been dumb to pay car, my money in the account was making money, after the three years, I had about $900 in the account (from the interest rate)

 

[Deleted member 1370]

The credit game...

Never pay your balance off, always have a small balance, the banks want to see if you can handle payments. They also want to see a mix of credit types, Car, CC, House... Run your credit report it's free at https://www.annualcreditreport.com/index.action, now if you place a nice down payment 20% the banks will like that.

I have a credit card and the maverick will be the car per say to add to that but dont have that on there for mix since well, this is my first rodeo on getting and buying my own vehicle. But i do agree that will help with diversifying it for sure. I dont own a home and rent a room in a house but gotcha and fully understood loud and clear on a 20% down payment. I can easily do that hands down no problem if not 40% if i really wanted too if they need it. My score is about 689 as of now according to trans union which is what my bank uses and tells me via their site. Will check out that site there you posted. By the time i get the truck or it is delivered i should have reached 700 no problem id think.

 

[Eagle11]

Nearly a view of my life right now: " $400+/mo payment - no job, have a major medical bill not covered by insurance, get a divorce, stock market crashes, or the economy goes to shit

Where did you find this graphic???? please provide the site link?

After reviewing this, and other comments in this thread, I went to the FORD site and only see these options currently available / listed:


2022 MAVERICK
Pricing and Incentives

• Featured Offers
• Pricing & Incentives
• Additional Offers

2022 Maverick XL

Get an Internet Price
Lease Offer7
Contact your local dealer
for current lease offers
Retail Offer6
5.9%
Stand Alone APR for 84 months
Based on $2,149 down payment
$282 / mo
Estimate Payment
Purchase

$21,490
for cash purchase
Estimate Payment
Close Cash Popup
Pricing for Maverick XL
Base MSRP
$19,995
Destination Charges
+ $1,495
Purchase
= $21,490
Your Configuration: 2022 Maverick XL


2022 Maverick XLT

Get an Internet Price
Lease Offer7
10,500
Annual miles for 36 months
$2,659 due at signing
Security deposit waived. Excludes taxes title and license fees.
$281 / mo
Estimate Payment
Retail Offer6
5.9%
Stand Alone APR for 84 months
Based on $2,378 down payment
$312 / mo
Estimate Payment
Purchase

$23,775
for cash purchase
Estimate Payment
Close Cash Popup
Pricing for Maverick XLT
Base MSRP
$22,280
Destination Charges
+ $1,495
Purchase
= $23,775
Your Configuration: 2022 Maverick XLT


2022 Maverick LARIAT

Get an Internet Price
Lease Offer7
10,500
Annual miles for 36 months
$3,029 due at signing
Security deposit waived. Excludes taxes title and license fees.
$330 / mo
Estimate Payment
Retail Offer6
5.9%
Stand Alone APR for 84 months
Based on $2,699 down payment
$354 / mo
Estimate Payment
Purchase

$26,985
for cash purchase
Estimate Payment
Close Cash Popup
Pricing for Maverick LARIAT
Base MSRP
$25,490
Destination Charges
+ $1,495
Purchase
= $26,985
Your Configuration: 2022 Maverick LARIAT


The information listed on the www.ford.com web site was posted correctly for ZIP Code 33579 on September 22, 2021 for the 2022 Ford Maverick. Your local Ford dealer is the best source for up-to-date information regarding events and offers. Not all models have specific offers associated with them.

The lease offers that are online from the manufactures are a joke.... The last BMW I leased, if went to the BMW web page the offer was, $3400 out of pocket, and payment was $499/m (before tax) when I went in to the dealer, ZERO out of pocket, $475/m with tax. Also use Edmonds Forum to find out the residual, and money factors. Having those two items will save you lots of money, as the dealers will ALWAYS tell you, you don't qualify for top-tier financing.

 

[Eagle11]

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?

Nothing locks in the final sale price UNLESS you have it in writing, and dealers will wiggle out that too.

Tier 1 credit just means you get the best possible interest rate.

 

[Eagle11]

My dealer told me I couldn't lock the rate till a VIN is issued. These special financing rates have been extended every month since June. So I'm hoping they'll still be there in December.

locking rates in are a gamble, rates go up and down all the time. But with this Maverick deal they have, it's pretty good, but I haven't read the fine SMALL print but I'm sure it says that FORD has the right to stop this promotion at any time.

 

[Eagle11]

Arrangement we have works good for both of us, but her hobby is horses and that costs way more than my old motorcycles. I opened a new credit card account in May 2018 and got a hard inquiry. We also got a new home mortgage in September 2019, and another hard inquiry. Then we refied the same house May 2020- and another hard inquiry. Each 1 was more like a 10 point drop on score and they don't drop off fast on all credit agencies. The 2 in 2018/19 took more like 18 months to drop off and the 1 from May 2020 is still on there. I was 800+ throughout all this.

Anytime you go out for credit a HARD PULL happens, and yes, your score drops about 10-20 points for each pull. But in about 6 months your score should go right back up. Now, when purchasing a car, and you go to 4 dealers, a hard pull happens each time, but since it's the same industry those 4 pulls only count as 1. This got changed about 10 yrs ago.

 

[Eagle11]

So you didn't do that, he means bring actual greenbacks over $10k and not paying by check, money order, cashiers check, etc... They are financial bells that go off on transactions actually involving cash greater than $10k. You can answer and justify, it's just an extra step that comes up. Same as flying out of the country with that much money in your wallet. I usually just empty my pockets and show them my pennies, but what do I know???

NEVER bring money to the dealer like, "Hey Dealer here is 30K in $50's"

 

[CoryDallas8123]

Anybody on here asking for assistance or new to the credit/financing/money game should take some time to listen to this team at The Money Guy.

There are lots of crummy YouTube “financial advisors” but these guys are the real deal.

https://www.moneyguy.com/

They are big into making your money work for you, compounding interest but they also do a lot on debt/income, loans, etc.

 

[altomav]

So someone who may be in the know more than I help me understand. This will be my first ever vehicle im financing and owning on my own, also just starting out on credit this past year. Not bad credit, just starting out. Ive never been late mind you however and pay my bill in full each time. Now I havent even populated a fico yet it seems but will do so by november as it said 6 months is usually the go to for that. I have a credit score i can see which just the fico one doesnt populate via experian, just the transunion credit score does. Point being, given that and i also have a very large down payment to help with the loan. 17k to be exact. This should definitely help grease the wheels of financing right? I have the monthly income to pay for it with that down payment on it being the total before tax,title etc is 28585 and thats before down payment. So after downpayment I can manage the payment easy peezy with my job and min wage pay no issues. Im assuming either way they will approve me, i may just not get certain incentives that this program offers?

Credit Unions and Banks use what is called Loan-to-Value Ratio (LTV). Several factors impact your ability to get a loan. Besides your credit history, credit score, and debt-to-income ratio, lenders also use your LTV to decide whether or not you’re a good candidate for a loan. As the name states, your LTV consists of two factors: (1) your loan amount and (2) the value of the asset that secures the loan (i.e. your car’s value). The lower the LTV (%), the better chance you have to getting approved. The lower the LTV, the better interest percentage rate you will get as well.

A loan-to-value ratio over 100% means you owe more on your loan than your vehicle is worth. For a $30,000 Truck with $17,000 down gives you an LTV of 43.3% Balance $13,000 divided by truck value $30,000 x 100. Remember, Ford will guarantee your loan and would love to have your 17 G's.

 

[BILLNOROVILLE]

For how long?

not sure, the screen print simply said " Step 6: locked deal" has a vin number listed under Vehicle Information heading (surprised me) and under heading "Program" it has code "21264 - APR FINANCING" and under heading "Benefit" shows 1.9% so I figure it is a done deal.

I don't really care what length. It should be somewhere higher than 36 which I think is needed for zero percent. I simply wanted payment to fit my budget of 200-260 range with my big down payment estimating around 12k (trade-in or cash). I think I told him 60 months was fine. I will know someday.

 

[Bushpilot]

That is called "structuring," and is reportable as well. It is technically illegal, as you are clearly trying to hide a high dollar transaction. The transaction is legal, the structuring (the intent behind doing it) is not.

I am not a lawyer or accountant.

 

[Bushpilot]

The credit game...

Never pay your balance off, always have a small balance, the banks want to see if you can handle payments. They also want to see a mix of credit types, Car, CC, House...

Not really.

Not bragging, but I have never had a loan other than a student loan many years ago (which I paid off within 3 years), I use credit cards for everything I can, which I always pay in full. I never had a home loan or car loan.

And my credit score is significantly over 800. Not that I care, I don't play the game except by my own rules, but that is the score.

Yes, the credit game, if you play it by their rules, the bank wins.

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