Canada Ford Financing Interest - Does it go DOWN?

[avane]

Hi so I ordered my Mav in October but I'm pretty sure I'm not getting it until Summer 2022.

The question is....currently Ford credit offers 3.49% financing that expires in Jan 4 2022. After that, is it a high probability that the interest rate will be the SAME or lower? or chance it'll go up?

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[Arukoru]

Can't speak to auto loans but mortgage rates are projected to rise steadily. In general I would probably expect slightly higher interest but I am no expert. Even so, I doubt it will be drastically different. Rather than 3.49 it might be 3.55 and does that really matter much?

Also it is somewhat irrelevant anyway, go to your bank/credit union and apply for a car loan when the dealer wants to get down to business. You should always try to shop loans no matter what you're doing. Dealers need financing otherwise they aren't making crap so you might even be able to leverage a discounted accessory or something in exchange for financing. But you don't have any leverage if Ford financing is your only option.

I say it is irrelevant because you're either going to get the car or not so you're sort of stuck with whatever interest rates are coming.

 

[Deleted member 7089]

My dealer said the rate would be locked in, so it would not go up. However I read that US buyers were being offered lower interest rates as compensation for the long wait. Not sure if that is true or if Ford Canada would be so kind.

 

[BILLNOROVILLE]

Talk to your dealer about locking in a better rate. I did, and got 1.9% locked in. He also said if there was a better rate I would qualify for it. Just see your dealer, 3.49 is too high for me considering my big down payment and very high credit score. My 2016 Prius was 0%

 

[jcnnjc]

I was also told the 1.9 for 60 months was locked in no matter how long it took my Mav to be built

 

[TacoHolder]

American's get a 1.9% promotional rate for 60 months, but is not available to Canadians. The best you can get directly from Ford is 3.49% for 36, 48, 60, or 72 months. Check with your bank or credit union (do you have those up there?) for a better rate. The Ford offer isn't great, but not terrible either. For anyone trying to argue that this isn't a good rate, please remember OP is in Canada and they don't get the same interest rates as us Americans.

 

[clavicus]

I read that US buyers were being offered lower interest rates as compensation for the long wait.

Highly unlikely, where did you see that? Their compensation, officially mind you, was to give hybrid customers $50 worth of FITS accessories lol. I’m not complaining thats fine with me but just a big contrast to any other suggestion of compensation for the wait.

 

[vezpa]

I got zero percent for 36months from Ford but that deal ended 10/31. I was going to pay full cash but for zero its a no-brainer.
.

 

[Brian_J]

American's get a 1.9% promotional rate for 60 months, but is not available to Canadians. The best you can get directly from Ford is 3.49% for 36, 48, 60, or 72 months. Check with your bank or credit union (do you have those up there?) for a better rate. The Ford offer isn't great, but not terrible either. For anyone trying to argue that this isn't a good rate, please remember OP is in Canada and they don't get the same interest rates as us Americans.

This clears up a lot. Thanks!

 

[avane]

Lol I was reading some of these posts and their 0- 1.9% rates and going “HOW” but yes, Canada def does not have this.

I definitely plan on inquiring with my bank what kind of rate I can get but just wanted to see if anyone had any insight into what Ford credit would be up to after their initial offer rate expires in January…..for Example I was following Bronco Sport rates and they steadily decreased after it was released..so I figure maybe same thing.

 

[Michael Mav]

Is there an origination fee with Ford Credits 0% rate? That would defeat the purpose as the rates without it might be lower at a bank or credit union.

 

[Lyle]

The Ford Maverick build page is still showing 0%-36, .9%-48, 1.9%-60. Good thru 1/03/2022.

 

[TacoHolder]

OP, you should really put in the title that you're in Canada unless you want people to keep telling you about rates you can't get.

 

[avane]

OP, you should really put in the title that you're in Canada unless you want people to keep telling you about rates you can't get.

there, changed…lol I figured the fact that this was posted in the Canada sub forum, it would be more obvious…lol

 

[xoXMiSsDaisieXox]

Hi so I ordered my Mav in October but I'm pretty sure I'm not getting it until Summer 2022.

The question is....currently Ford credit offers 3.49% financing that expires in Jan 4 2022. After that, is it a high probability that the interest rate will be the SAME or lower? or chance it'll go up?

We just did 1.9 for 72mo on our new F150. We buy a new car or TWO every year. (Fords only) I can tell you that Ford credit ALWAYS offers good deals. Our last F150 was 0% for 72mo. Our car credit is outstanding, but I would say relatively good credit can still get you the 1.9 that they usually always offer. 3.49 is a bit higher unless you're going for 84 months or in a different tier, but I guarantee you'll still be able to get it. Just don't do anything to hurt your credit in the meantime

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