Financing with Ford Company

[realshelby]

8.25% at ford with an 800+ FICA score tells me the Dealer marked up your rate!!! Ford used to cap the markup at 2%. I have no idea what it is now. I would be looking to refinance that asap.....Finance department made more on you than the sales department did. Hope they didn't talk you into a $3000 warranty too....

Sponsored

 

[AutobahnSHO]

Not sure why anyone would want to pre pay a 0% loan on anything from a financial institution. Screw em and feed them beans. Use their money and leave yours in the bank.

Paying off the truck means
-no gap insurance
-don't "have to" get comprehensive insurance
-the risk vs reward (paid off truck today becomes an asset rather than a loan liability)
-investments (in the "bank") "can" lose value

 

[Bob The Builder]

Paying off the truck means
-no gap insurance
-don't "have to" get comprehensive insurance
-the risk vs reward (paid off truck today becomes an asset rather than a loan liability)
-investments (in the "bank") "can" lose value

I have to say that is a new one on me as I have never been required to do that, BUT on the other hand, I have always either had a decent trade in or, in the case of my Maverick, put enough down to where I am well above water in the loan. I suppose no gap insurance required if the money borrowed is well below the value of the loan.

 

[commadorebob]

Just as an FYI, I got a horrible rate through Ford last week. 8.25% for 5 yrs. Over 800 credit score.

From my experience, they look at more than just score. I got burned on my Escape for not having a car loan for ten years despite decent credit. Same credit score two years later got me the best rate. Because reasons...

Sponsored