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Anyone have any details on this? Just curious on what the going interest rate would be to finance it through ford.
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Finance Rates - Canada
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I just ordered October 18, 2022 and the rates the dealer gave me were 5.49% on 60 months. But he told me that I can take the current rate when the truck actually arrives, or the rate at the time I ordered. Whichever was better.
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Wow, what a terrible rate for a brand new vehicle. Once again consumer gets dragged across the coals.
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Ya, I'm not excited about it. I'm literally the easiest sale. Knew exactly what I wanted and didn't want. Fully aware I will be paying full price. Know more about it than they do. (Shoutout to this forum!)
The lease rate they gave me...6.99%!!
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When I ordered our Maverick Hybrid back in November 2011, the interest rate to finance for 60 months was 3.49. When I picked up our truck on October 28th, interest rates for 60 months had gone up to 4.49 but we were locked in to 3.49 from back in November 2021.
Looking at the Ford website, it currently seem so to be 4.49 for financing from 36 to 84 months and 4.99 for leasing.
Looking at the Ford website, it currently seem so to be 4.49 for financing from 36 to 84 months and 4.99 for leasing.
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Ya this is old. They just don't seem to want to update it for the '23!When I ordered our Maverick Hybrid back in November 2011, the interest rate to finance for 60 months was 3.49. When I picked up our truck on October 28th, interest rates for 60 months had gone up to 4.49 but we were locked in to 3.49 from back in November 2021.
Looking at the Ford website, it currently seem so to be 4.49 for financing from 36 to 84 months and 4.99 for leasing.
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Yeah I feel sorry for anyone financing now, was so glad my rate was locked in from last fall. Interest rates from Ford are high because the bank rates are going up with the US/Canada central banks key interest rates. They cannot offer better rates than they get themselves, they are in it to make a profit.
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How can they offer 1.99% on a brand new f150 then? On their website the have incentives on other vehicles, maverick is unfortunately not included. Sorry, just curious how financing generally works.
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Never looked at the F-150, I'd guess the rates are higher than what is shown on the website, just like the Maverick, but I assume they eat the cost because the F-150 has way higher margins and more importantly way more sales (best selling vehicle in North American after all).
The same way they can offer cash rebates. It's referred to as "incentives" - whether discounted interest rates through Ford Credit or straight cash rebates. To incentivize people to buy. On ford.ca, they're actually advertising 1.49% up to 72 months on select F-150 units currently in stock.
In other words, they do this to move units. No need to incentivize Maverick sales when they already have a massive backlog of orders, and couldn't even fill all the orders for last model year.
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