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

[Brown0]

Hard pulls are not damaging beyond a few points and only last 24 months on your credit. Only 12 months of impact and the second year is just visible. Take it from a guy with 816-830 credit score and 23 credit cards.

A little condescending, but okay. The key to keeping scores so high is valuing those couple of points and making every hit worth it.

-from a guy with a well-diverse 835+ credit portfolio

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[Xbbqpitmaster]

My savings account says not to pay interest on my purchase… “if” the 0% rate ever comes back, then yes I will finance.

 

[Rob Cactus Gray]

A little condescending, but okay. The key to keeping scores so high is valuing those couple of points and making every hit worth it.

-from a guy with a well-diverse 835+ credit portfolio

meh. I was just trying to help. People put too much emphasis on credit pulls.

 

[crazymomlv]

If they don't have any promotional rates, then your credit union will probably have better rates. My 22 is locked in with the rates from last year that no bank can touch, but the last rates I saw Ford promote were 2.9% but those ended in September.

2.9% sounds great for this market. Probably won’t get better than that anywhere next year, especially if Fed raises rates again. I got 0.9% on my 22 from Ford

 

[skadizzle]

2.9% sounds great for this market. Probably won’t get better than that anywhere next year, especially if Fed raises rates again. I got 0.9% on my 22 from Ford

Yeah, I'm going to do the 1.9% for 60

 

[MiniMack]

Contacted my dealer to request what rates are available to be locked for this offer. Application now is strange, I'd suspect two hard pulls going this route - but maybe worth it. If anyone gets the rates & terms available, please post them.

My rates were suppose to be locked. When I went in to purchase. Nothing was assigned to my account ... I guess in order for you to actually have a locked rate it needs to be flagged to your account or something. I ended up not getting the financing I wanted. It kinda stinks. But I was warned Ford (probably others too) are not good on their promises as far as financing.

 

[xlt-doug]

So if I didn’t lock in my rate at the time I ordered then I would not be eligible for those low rates? I’m confused, my salesman said I’m not rate protected but he’s new and probably doesn’t know. Is there a official Ford memo I can bring with me at time of purchase? Normally I wouldn’t care but rates have tripled since I’ve ordered.

 

[KevCuRaoi]

So if I didn’t lock in my rate at the time I ordered then I would not be eligible for those low rates? I’m confused, my salesman said I’m not rate protected but he’s new and probably doesn’t know. Is there a official Ford memo I can bring with me at time of purchase? Normally I wouldn’t care but rates have tripled since I’ve ordered.

There are two different programs/issues here, and everyone is confusing them.

This program from Ford will allow the customer to lock-in approved financing for 180 days (as opposed to 30ish days as is usual) at standard rates.

Ford "subvened" (special low rates) are protected when you submit a retail order.

Almost all retail ("custom") orders for 22 Mavericks have subvened rates that are protected.

Rather than doing this for 23 MY orders (not just Mavericks), Ford is allowing customers to apply for credit on a vehicle that they are ordering, and have the (standard) rate locked in on approved loans for 180 days.

 

[hindolam]

Here is a data point that may be of use to those still waiting.

I ordered my Maverick on Oct 17, 2021. The finance person at that time, tole me that he cannot provide me a rate at order time (from the comments here, looks like that's not true).

I finally got my delivery last Tue just before one year mark

I looked at auto rates on banking sites. They were in 5% - 6% range. I called the salesman as to what rates I might get on delivery date. Didn't hear back for several hours. So, I went to Ford Credit website and applied online. It did not provide me a rate but I got back a response saying I am approved for 72 months.

Finally the salesman called me back. He said although I had not locked in the rate at order date, they will still provide me the rate dating back to order date, since I ordered long time ago. Possibly since they got notification about my approval from Ford??

Anyhow, I did get 0% for 36 months, 0.9% for 48 months and 1.9% for 60 months. Since you can get near about 4% in treasuries as of date, I went for the 60 months one.

So, it maybe worthwhile (?) to apply directly on Ford Credit website before talking to the dealer about the rate.

 

[Vols44]

Time to stop the speculation on the Rate Lock Program. Ford Authority cited a Cars Direct article on the subject. The 7-15-22 dealer bulletin on Ford Summer Supercharged Sales Event ended on 9-5-23. The original August MY23 Maverick opening day pushed to September 15th meant it was NO LONGER an eligible model.

FWIW the F-150 Tremor, Raptor and Lightening were also excluded.

A suggestion for@fordvideoguy are the Incentive Protection and Price Protection and Retail Order Bonuses. I tried to look up current financing rates and they didn't populate when I went to the payment calculator like it did in the past.

 

[paneubert]

Time to stop the speculation on the Rate Lock Program. Ford Authority cited a Cars Direct article on the subject. The 7-15-22 dealer bulletin on Ford Summer Supercharged Sales Event ended on 9-5-23. The original August MY23 Maverick opening day pushed to September 15th meant it was NO LONGER an eligible model.

FWIW the F-150 Tremor, Raptor and Lightening were also excluded.

A suggestion for@fordvideoguy are the Incentive Protection and Price Protection and Retail Order Bonuses. I tried to look up current financing rates and they didn't populate when I went to the payment calculator like it did in the past.

But......remember this puppy.

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