Does this make sense to do?

[New2AZ]

Since my Mav is listed now on the dealer site (which I know is standard fare, not concerned), does it make sense to do the "get pre-approved/Capital One financing" things they link to or just wait til I come in to pick up my long-awaited truck? I'd love to save some time, but with rates possibly fluctuating and the fact this may result in a double credit-check, not sure if I should do this or just wait?

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[Johnkn]

What ever you do, don’t call the dealership and ask.

Good luck...



.

 

[New2AZ]

What ever you do, don’t call the dealership and ask.

Good luck...



.

Cheers! Haha that's why I ask here first. I trust the dealership to do what's in the best interest of the dealership.

 

[raymaines]

When you're shopping for a specific type of loan (oh, say a new car loan for example) a credit check won't hurt your score. Shop away without worry. Good advice is to go to the dealer with your loan pre-approved and let the dealer try to beat your best offer.

 

[bradFORD]

Just start shopping around and get pre-approved. Some lenders will only guarantee the rate for 30 days. While waiting on an unknown delivery date

 

[MJohnson]

Since my Mav is listed now on the dealer site (which I know is standard fare, not concerned), does it make sense to do the "get pre-approved/Capital One financing" things they link to or just wait til I come in to pick up my long-awaited truck? I'd love to save some time, but with rates possibly fluctuating and the fact this may result in a double credit-check, not sure if I should do this or just wait?

I am no expert, but I asked my CPA and he said that (in my case, at least), he would not recommend applying for financing until you know you will be going in to get your vehicle. The down side could be a mild ding on your credit, especially if what CapitalOne is actually offering is a credit card.
On the other hand, if you are comparing available offers between, say, your bank and your Ford dealer, those will only count as one credit inquiry.

 

[Asaleigh]

I just had ford finance mine. 0% interest who could beat that?

 

[New2AZ]

I'd take 0% if they did 5 years lol
I don't have all the cash to buy this outright, trade-in will at best break even, and trying to keep those payments at or below my current monthly. Credit score is darnnear perfect right now so I would rather avoid making it dip at all when it comes time to sit with the finance person at the dealership. I suppose the best move is to skip this pre-approval business and see what I can get from other sources then bring that to the table when the time comes. With build date being this week, assuming chip-waiting doesn't come into play, should be about a month-month and a half.
Appreciating the input though guys! Keep it coming!

 

[bighap]

I'd take 0% if they did 5 years lol
I don't have all the cash to buy this outright, trade-in will at best break even, and trying to keep those payments at or below my current monthly. Credit score is darnnear perfect right now so I would rather avoid making it dip at all when it comes time to sit with the finance person at the dealership. I suppose the best move is to skip this pre-approval business and see what I can get from other sources then bring that to the table when the time comes. With build date being this week, assuming chip-waiting doesn't come into play, should be about a month-month and a half.
Appreciating the input though guys! Keep it coming!

The Ford rates are tough to beat right now. A credit union is likely the only thing that can compare. Capital One won't be your answer. Big banks never have the best rates. Your credit rating will take an initial hit upon applying for a few months. It will settle back down and can actually improve by having a monthly installment loan like a vehicle or mortgage. (assuming no late payments). After I paid off by last car my credit score dropped from 845 to 831. I was a bit bitter for a while after that.

 

[Nunyabiznus]

shoot just pay cash.

 

[New2AZ]

shoot just pay cash.

Not looking to commit a felony to make that happen.

 

[bbhaag]

The night our Mav arrived at the dealer our sales guy called us to let us know it had arrived. We went over financing options and what our down payment would be. After we told him either Ford financing or our local credit union with a $15K down payment he sent us an email with a link to apply for pre-approval.

You might be jumping the gun just a little bit especially if your truck is still in transit.

 

[James St. Patrick]

FORD rates are pretty good at 1.9%, and I did everything the day my truck was delivered. It made the process smoother for me, when I picked up my truck the next day.

 

[Whitenight]

I'd take 0% if they did 5 years lol
I don't have all the cash to buy this outright, trade-in will at best break even, and trying to keep those payments at or below my current monthly. Credit score is darnnear perfect right now so I would rather avoid making it dip at all when it comes time to sit with the finance person at the dealership. I suppose the best move is to skip this pre-approval business and see what I can get from other sources then bring that to the table when the time comes. With build date being this week, assuming chip-waiting doesn't come into play, should be about a month-month and a half.
Appreciating the input though guys! Keep it coming!

With Ford Motor Credit you are locked in at the finance rates that were offered when you ordered your truck. I got 1.9% for 5 years.

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