Anyone recently financed through Ford?

[A Sturdy Beast]

My Maverick should arrive by the end of July, so it is just a little early to actually apply for a loan.

I’ve done a web search, and poked around on the Ford fiance site, but I can’t find their actual best rate for Maverick financing. Incentive rates for other models and leasing rates are all that I find. My credit union is currently 4.25% for 48 months. I would like to know if Ford will beat that rate?

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[K5Blazer]

They will not. However, Ford may be the only one to finance a high markup!

Ask me how I know.

 

[commadorebob]

No. Ford will generally only beat market rates when they are at the end of the model year and trying to unload leftover stock. Given the Mavericks are selling faster than they can build them, don't expect Ford Credit to offer any special rates any time soon.

 

[A Sturdy Beast]

They will not. However, Ford may be the only one to finance a high markup!

Ask me how I know.

So Ford financed you above MSRP? By how much?

 

[A Sturdy Beast]

No. Ford will generally only beat market rates when they are at the end of the model year and trying to unload leftover stock. Given the Mavericks are selling faster than they can build them, don't expect Ford Credit to offer any special rates any time soon.

Hi Bob, thank you for your many informative posts here on MTC.

I already knew there were no incentive rates for Maverick. My question is, what is the current Ford rate for Mavericks for 48 months?

 

[K5Blazer]

Let’s just put it this way, I got enough for my trade in that I figured the markup was a wash. Ridiculous used car prices=ridiculous new car markups. It evens out in the end.

My old car was dying, I needed a replacement asap.
I figured I could buy used, someone else’s problem, wait a year, or more, for a Maverick, or pay the extra and be done with it.

I looked at it as a penny wise pound foolish situation.

I plan on paying it off in the next 3 months anyway.

 

[commadorebob]

Hi Bob, thank you for your many informative posts here on MTC.

I already knew there were no incentive rates for Maverick. My question is, what is the current Ford rate for Mavericks for 48 months?

But that matters. If Ford isn't offering any special deals, then they will simply offer the current prime market rate, which is what most banks will offer.

For reference: I got 3.9% on my Explorer two months ago. So, if Ford was offering 3.9% on last year's leftover stock, don't expect them to match your CU's 4.25% for a truck they can't build fast enough.

 

[Eagle11]

My Maverick should arrive by the end of July, so it is just a little early to actually apply for a loan.

I’ve done a web search, and poked around on the Ford fiance site, but I can’t find their actual best rate for Maverick financing. Incentive rates for other models and leasing rates are all that I find. My credit union is currently 4.25% for 48 months. I would like to know if Ford will beat that rate?

THis is an issue with Ford Credit, when I applied it stated I was approved, however, when Ford Credit approves you, it approves you for the MSRP of the base model (i.e XLT) not what options you have on your order. I would apply at your Credit Union and Ford just incase Ford wants to screw you.

 

[A Sturdy Beast]

Let’s just put it this way, I got enough for my trade in that I figured the markup was a wash. Ridiculous used car prices=ridiculous new car markups. It evens out in the end.

My old car was dying, I needed a replacement asap.
I figured I could buy used, someone else’s problem, wait a year, or more, for a Maverick, or pay the extra and be done with it.

I looked at it as a penny wise pound foolish situation.

I plan on paying it off in the next 3 months anyway.

Used cars have always been good enough for me. I like to put my money where it grows instead of depreciates.

But the current used car prices, all the way from the bottom of the market rust buckets to the gently used cream of the crop, are why I’m buying new this time. I’m not paying 80% or more of a new car price for a 5 to 10 year old used car with 100,000 miles.

 

[A Sturdy Beast]

THis is an issue with Ford Credit, when I applied it stated I was approved, however, when Ford Credit approves you, it approves you for the MSRP of the base model (i.e XLT) not what options you have on your order. I would apply at your Credit Union and Ford just incase Ford wants to screw you.

Wow, that is surprising. Seems like Ford would want to make it easy to finance and buy loaded models with a higher profit margin. I’m putting a large down payment on a bare bones XL, so I hope to avoid being bitten by that particular Ford financing bug.

 

[TR6CANUCK]

I was going to pay half and finance half. Ford Credit (Canada) wanted 6.99% interest. It worked out to $3800 over 60 months. I decided to pay all cash.

 

[tired comet]

As someone else mentioned the Ford credit approval was weird. Approved for the base price but then rater was higher than market for the actual final price. Went with another lender.
Seemed like a bit of a bait and switch tactic to wrangle in people with tighter credit issues.

 

[JBryant]

Two months ago FMC wanted 7.25 with a 797 credit score. Not sure what they are today, but my guess is they are that much or more.

 

[Wylie61]

bought eco in nov FMC 2.9, got hybrid in April FMC 8.7. Bought hybrid with credit union 4.6

 

[Steveyg]

My Maverick should arrive by the end of July, so it is just a little early to actually apply for a loan.

I’ve done a web search, and poked around on the Ford fiance site, but I can’t find their actual best rate for Maverick financing. Incentive rates for other models and leasing rates are all that I find. My credit union is currently 4.25% for 48 months. I would like to know if Ford will beat that rate?

Did the CU financing last week and picked up the 23 XL on Friday. The dealer didn't even want to try and beat the 4.48 I got for 48 months. Did get a 750 ford discount for owning a 22 Maverick (no trade in) but paid the new MSRP with the new destination fee.

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