ford car finance ..............

[Gmood1]

Do you have to be from Massachusetts to be a member of DCU?

No, you can join from any where in the United States.


Penfed use to be my go to. But lately, some of my other CUs beat them out, such as Navy Fed.

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[commadorebob]

There is more to it than just your score. Ford looks a combination of things and credit score is just one of them. They also look at auto loan history, loan to value, and debt to income. It's part of the reason I paid a stupidly high rate with my Escape (6.9%) in 2020 but got a great rate on my Explorer (3.9%) in 2023 despite the fact my scores were about the same and interest has gone up a lot between the two purchases.

I had ten years of paid-off cars before I bought the Escape and so despite good credit, the lack of car loans hurt. But when I went to buy my Explorer, I now had three years of on-time Escape payments. So, even if you have an 800+ score, if you have no recent auto loans Ford will consider that a higher risk.

Loan to value should not be a concern with the Maverick if you aren't trading or you aren't upside down on your trade.

Debt to income plays a massive role. Even with a 800+ score and a history of on-time car payments, if you slip into a high DTI ratio, your interest rate will reflect it.

 

[Yosu2000]

finally i got today .
apr 6.62%
i have to paid increase msrp.
any way i am happy.

 

[bridges1992]

finally i got today .
apr 6.62%
i have to paid increase msrp.
any way i am happy.

I’m about to find out what they can offer me for finance too mine just now arrived to the dealer.

 

[Yosu2000]

I’m about to find out what they can offer me for finance too mine just now arrived to the dealer.

i thing Better check other bank or credit union before they give you finance offer

 

[bridges1992]

i thing Better check other bank or credit union before they give you finance offer

I already have a credit Union lined up

 

[rlhdweman]

HI
I ORDER MAVERICK LARIAT 09/17/22
I LIVE IN NJ.
FORD DEALER GOT YESTERDAY.
MY CREDIT OVER 800.
FINACE MANAGER SAID FORD FINANCE 10.66%.
ANYONE GOT OVER 10% FINACE FROM FORD?

Wow, that's getting close to 1980's % rates! I went to finance a car in 1986 & they wanted 17%, I passed on the car.

 

[Fibrepunk]

With the long wait, i saved enough to cover most of the cost. I wonder how much are they willing to take from credit cards? I have a couple cards that give me under 4% on new purchases, which should allow me to finance what i am short on with either cc. Hmmm, and how much will they give me if i trade in... So many if/and/or/but

 

[Yosu2000]

With the long wait, i saved enough to cover most of the cost. I wonder how much are they willing to take from credit cards? I have a couple cards that give me under 4% on new purchases, which should allow me to finance what i am short on with either cc. Hmmm, and how much will they give me if i trade in... So many if/and/or/but

They said they charge credit card fee 3.15%

 

[gwrace14651]

I guess the days of zero percent financing are gone. My daughter lucked out when she bought her Sentra in 2021. 1.9% for 60 months. My son got his new 2022 Maverick at 3% from Ford Credit for 60 months. For our upcoming Maverick we will just be trading or selling our Accord Hybrid with remaining a cash payment. Had several years to save up.

 

[MakinDoForNow]

I always get pre-approved before a big purchase from at least 3 different sources (Ford Motor Credit, my Credit Union, and a regular bank). I take the best of those 3 with me when I go in to buy and give them the opportunity to beat the deal. I always shoot for the least interest paid for the most payment I can tolerate. It kind of throws them off a bit to not want the lowest payment.

Consider getting the longest term loan at the max interest rate that can be tolerated. (Say a 66 month payment at 6% vs a 48 month at a slightly lesser rate). Vehicles are at simple interest so if you make larger payment the excess will go directly to principle. The higher rate interest if any can be considered cost of being able to lower payment if necessary. No penalty for sending in extra $10-$100-or more. This can be used if your loan requires a certain (6?) months minimum number of payments.

 

[MakinDoForNow]

i thing Better check other bank or credit union before they give you finance offer

Also if you join Farm Bureau to get $500 discount check with their web site for insurance and auto loans.

 

[Ktowntimmy]

Us boomers can remember >14% on home loans. 18-20% on cars, 22% on credit cards. I’m not saying y’all shouldn’t complain, just saying it could be worse.

 

[MakinDoForNow]

Us boomers can remember >14% on home loans. 18-20% on cars, 22% on credit cards. I’m not saying y’all shouldn’t complain, just saying it could be worse.

I remember an 18.75% home loan! #1 thing is the rate is NOT as important as the time money is borrowed. I got a $32k discount on purchase price because there were no lookers and the heir just wanted $$$$! I was earning 17.5% on CD's and did not want to pay early out penalties..

 

[Equator Guy]

I have credit 780ish. Joined NFCU for $5. Was able to get my local credit union to match their 4.74% rate for 60 months when I sent proof I was a member and qualified for the rate.

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