Ford Credit - ?????????????????

[Akuma72387]

I also financed mine with ford credit but I didn't run into this but I pay all of my payments using the ford finance site that I access though ford pass app. I pay all of mine directly without auto pay. I mean it's due on the same day every month just set a reminder if you might forget...

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[999]

There are a couple misunderstandings on credit score/auto loan things here. It's been a while, but I have seen thousands of credit reports from working the F&I desk.

1- as someone else mentioned, an instance of credit being declined does not affect credit score
2- First payment typically is due about 45 days from delivery
3- if your payment due date is the 15th of the month, and your payment arrives on the 16th you will not be reported to the credit bureau as "late"
4- Late payments show up as "30 days late, 60 days late, 90 days late" on your credit

 

[Turtle]

Bank bill pay to major credit companies like FORD happen via the auto banking system. They dont actually mail a check. The bank sends it directly to FOIRD electronically. Check with your bank. Ensure you gave them the correct account number. Then call FORD. With your credit score and LTV there should not be a problem.

 

[Turtle]

Check your Ford Pass app it will tell you your payment status.

 

[Spook]

If I had an attitude like some politicians that tell everyone to just buy an electric car for 80 grand, I would say: just pay cash for it and save all the paperwork. It's that easy if you are a politician that never worked for a living.

 

[briandefilippo]

Hope you get the denial error fixed.
My concern is why is your payment $400 a month! What are your terms?
With only $14k, payment should be less than $250!

 

[skadizzle]

Hope you get the denial error fixed.
My concern is why is your payment $400 a month! What are your terms?
With only $14k, payment should be less than $250!

If he opted for the 36 months 0% it would be around $400.

 

[pxpaulx]

Bank bill pay to major credit companies like FORD happen via the auto banking system. They dont actually mail a check. The bank sends it directly to FOIRD electronically. Check with your bank. Ensure you gave them the correct account number. Then call FORD. With your credit score and LTV there should not be a problem.

It would still depend on a few factors though...

1 - the OP's bank billpay has an automated lookup of billers who participate in billpay via ACH
2 - the biller participates in an ACH option for billpay
3 - If a lookup existed, the OP selected the correct option (fairly common for a lookup to have multiple biller results)
4 - The OP used the automated lookup and didn't manually enter the biller's address

 

[Nugget]

On April 30th I picked up my Maverick. Great truck really enjoying it. Put down a little over seven thousand dollars plus $2500 for my trade in. Left me with about 14 thousand, financed through Ford Credit. Truck in both my wife's and my name, credit scores both above 840. $400 payment due the end of each month. Received congratulations from Ford Credit on my purchase along with my account number to make payments to. Late May first payment sent in through my banks bill pay system. Yesterday, June 13th I received a letter from Ford Credit stating that Ford Credit would be unable to grant financing for my truck. This is 45 days after I took possession. I am sure it is just a screw up in the system, just wanted to let you know if you use Ford Credit to be careful. I am pretty sure I will now have to fight a credit denial on my credit report. Between this and the ten months I waited for a bare bones Maverick XL(tow hitch and floor mats only) I am sour on ever dealing with them again. It is to bad, because my dealer was fantastic to work with.

Did you check with your dealership? They have a relationship with Ford credit. They can probably help you get whatever happened sorted out. Please let us know how it turns out so we can look out for it in the future. Thanks.

 

[legs1957]

I believe that the US Post Office recommends giving at least 7 to 10 business days for first class mail. Here in New Jersey delivery is sporadic at best, I use Informed Delivery so I get a photo of tomorrows mail to night. Great when it gets delivered, sometimes two or three days later.

electronic bill pay 4 days early

 

[legs1957]

Did you check with your dealership? They have a relationship with Ford credit. They can probably help you get whatever happened sorted out. Please let us know how it turns out so we can look out for it in the future. Thanks.

Dealer says payment rceived and qaccount open, just wanted to let everyone know that poor customer servive where nobody knows what is going on.

 

[legs1957]

I used to work at a bank and managed the auto lending department.

More than likely what has happened is the application for credit was entered more than once. If applied online, then at the dealer one was withdrawn. Possibly due to submitting an application only once, then had to be transferred since you have an incentive rate from when you ordered.

Lending institutions are required to send an adverse action letter with a reason for credit denial to the applicant any time the loan is not completed, even if the applicant decides not to take the loan.

Given your credit score, Loan to Value in the truck and the fact that you got a welcome letter and account number to make your 1st payment don't lose any sleep over it and enjoy your new truck!

Also, credit denials do not show on a credit report...only inquiries.

Thanks for that info, makes me feel better.

 

[Nugget]

Dealer says payment rceived and qaccount open, just wanted to let everyone know that poor customer servive where nobody knows what is going on.

Thanks for the update. I’m happy that they caught the mistake and didn’t open 2 loans in your name and pay the dealership twice.

 

[999]

What exactly was "poor customer service"?

You're the only one who didn't know what was going on.

Dealer says payment rceived and qaccount open, just wanted to let everyone know that poor customer servive where nobody knows what is going on.

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