What financing APR rates are you seeing?

[Imamurrman]

Hello everyone! Just trying to get a feel to see what people are seeing out there regarding apr rates. I know there are a bunch of variables but someone with good/excellent credit just trying to see what people are seeing from Ford/Local Credit Union. Also any rollover 2022 with vins get their 23s and get a good credit rate? Thanks!!

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[Redneck Garage]

Here's my advice - get your loan together before going to pick up a truck. Unless you have a guaranteed rate for Ford Credit the scumbag finance manager will lie, add on percentage points, steer you to a company that gives them the biggest kickback. My credit rating is 850 and I literally had a credit manager two days ago tell me Ford Credit ( I told him I wanted to use them ) would only give me 8.5% rate but mechanic's bank would give me 7.5. I had traveled out of state to pick up a Maverick so I didn't have many options. When I receive the registration I'm refinancing the loan for 4.0% I'm mad at myself for not getting a loan before going. A good rate with very good credit should be somewhere in the 5% range.

 

[Imamurrman]

Thank you! Great advice. Luckily (maybe) for me my salesman who I have been In contact with since November 21 became the finance manager but who knows if that helps. I just wish they would honor the finance rates at time of order back in 2021 for rollover orders!

 

[Michigan Bill]

Like David @Redneck Garage said, get your financing in line beforehand. You'll usually find your best rates from a credit union. My truck is just awaiting a car hauler to bring it to the dealer. I already have a pre-approval on my loan, at a great rate, from my local credit union.

 

[Redneck Garage]

Thank you! Great advice. Luckily (maybe) for me my salesman who I have been In contact with since November 21 became the finance manager but who knows if that helps. I just wish they would honor the finance rates at time of order back in 2021 for rollover orders!

No doubt - I have one Maverick I financed at the .09% for 48 months Sadly Ford Credit wont tell you what you are approved for as far as percentage so that allows the stealership to straight up lie like 2 days ago.

 

[Redneck Garage]

Like David @Redneck Garage said, get your financing in line beforehand. You'll usually find your best rates from a credit union. My truck is just awaiting a car hauler to bring it to the dealer. I already have a pre-approval on my loan, at a great rate, from my local credit union.

My mistake on this last one lol.

 

[BradnChristine]

Navy Federal Credit Union is at 4.54% for 0-36 mo and 4.74% up to 60 mo. About the best I've seen.

 

[Michigan Bill]

My mistake on this last one lol.

It happens. I had a bad experience with Ford Credit about 40 years ago. They'll always be my LAST choice now.

 

[Nameless]

I got 4.69% for 60 months 3 weeks ago from my credit union.

 

[Redneck Garage]

Navy Federal Credit Union is at 4.54% for 0-36 mo and 4.74% up to 60 mo. About the best I've seen.

Excellent rates. I believe you wont get that from your friendly local finance manager

 

[Army Engineer (Ret)]

USAA bank had 4.74% for up to 63 months last week and a lock on it for 45 days. Dealer was saying 5.7 was the best they were seeing at that time. Locked in the 4.74 .

 

[All4spl]

The days of 0% and 1.9 and 2.9 are gone, and it will also depend on where you are. My CU right now is 6.24% for 72 months, 5.74% for 36. When the dealer pulled my credit on 01/04/23 my score was 862, the best I could get was 6.99%. Sure I could have saved half a percent at my CU but, since I plan on paying off the 16.5K I financed in 6-7 months interest rate wasn't a huge deal to me.

But the idea posed here of getting preapproved is a good one especially if you can lock in a lower rate for a few weeks or more.

 

[OB1e]

4.99% at dcu. Take the loan, wait for rates to drop, then cash out refi with gap.

 

[Sleeper 7]

I used Lightstream on my last 2 vehicles. Its quick and easy. They deposit the money directly into your bank account and you leave the dealer title in hand. They are non collateral loans.

 

[Hdscreens]

How do their rates compare though? Personal loans are typically higher rates.

I used Lightstream on my last 2 vehicles. Its quick and easy. They deposit the money directly into your bank account and you leave the dealer title in hand. They are non collateral loans.

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