Financing new Maverick - anyone use 1.9% 60 month deal?

[ValenciaOrange]

Has anyone used the Ford 1.9 percent financing for 60 months. on their new Maverick truck? Are there any hidden charges?
Hopefully they will extend it into 2022.

I calculated if I was to put $5000.00 down on my new truck, the total interest for 5 years would be about $1000.00.

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[mla_anderson]

If they keep it for '22 I'm going for the 36 or 48 months at 0%.

 

[ValenciaOrange]

If they keep it for '22 I'm going for the 36 or 48 months at 0%.

Zero percent would be much better.

 

[mla_anderson]

Zero percent would be much better.

With inflation where it is, even 1.9% is still free money. But I prefer more free money.

 

[pxpaulx]

Zero percent would be much better.

It is 0.9 for 48 months - this is a good compromise and very low cost in interest.

Here is a $25K loan at 60 months @ 1.9:

and the same loan for 48 months at 0.9:

Just $93 more a month saves you $750 in interest, and 12 less payments.

Now, a 1.9/60 loan term is still excellent, but it does carry that additional cost.

Just for additional contrast so that the numbers are plain to anyone that might be looking, here is the impact of moving from the 60 month to 72/3.9 loan that Ford also offers:

While the difference between the 48 and 60 is just $750, moving to the 72 month loan costs a whopping $1,850 extra, saves just $47 and adds 12 additional payments.

Anyone else reading this, please, please please treat your future self fairly by skipping a 72 month loan!!!

 

[mla_anderson]

It is 0.9 for 48 months - this is a good compromise and very low cost in interest.

...

Anyone else reading this, please, please please treat your future self fairly by skipping a 72 month loan!!!

I thought I saw 0% for 48 months a short time ago, but it's 0.9% as you say.

Absolutely agree on the 72 month loans. That vehicle will be a ball and chain if you take that route. As soon as the present component shortages have passed, you'll be upside down on it. And those component shortages should be done with early 2023.

 

[mla_anderson]

I knew I wasn't imaging things, just the wrong truck. Spend enough and Ford will give you 0% for 5 years.

 

[Inspector]

Yes mine is 1.9 for 60 months,no hidden fees by ford on 26/11/21.

 

[brnpttmn]

I financed 14k of my Maverick for 36mos/0%. Nice round $400/mo payment. No interest.

 

[TacoHolder]

While the difference between the 48 and 60 is just $750, moving to the 72 month loan costs a whopping $1,850 extra, saves just $47 and adds 12 additional payments.

Anyone else reading this, please, please please treat your future self fairly by skipping a 72 month loan!!!

It's really the 3.9% interest rate that makes the 72 month loan suck more than anything else. In the current market, it would be wise to skip any financing offer with more than 2% interest. If you really need to stretch out the loan period to more than 60 months to make the monthly payment work, check with banks and credit unions.

To answer the original question, I think the 1.9% for 60 months is a great offer if you're putting very little down or have meh credit.

 

[jcnnjc]

When my wife got her 2016 Fiesta ST we got 0.0 interest rate for 72 months, really wish they would repeat that offer!

 

[Dyllicious]

My previous F150 was 0% for 84 months. Got it in June 2020.

 

[MrKombi]

I financed 14k of my Maverick for 36mos/0%. Nice round $400/mo payment. No interest.

When? Trying to see if this incentive is still an option......

 

[brnpttmn]

When? Trying to see if this incentive is still an option......

yesterday. Currently it's good through this week, but Ford has extended it a couple times so I could be available for longer.

 

[tomahawk72]

Can someone with a credit score of around 650 confirm what they're paying? I got rated at 5% for 72 months which is way better than what I'm paying now which is 13%

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