Ford Dealer Financing Rate

[Grumpa]

Must be nice, this 5% you speak of.

When Lariat finally came with Hybrid (check my location, beetches) I wanted to switch my XLT out for it, but Ford Ca is 7.99 Finance AND Lease! It's insane. As high as 8.49% as well for longer terms.

5.04% pre-approved Navy Federal Credit Union

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[jcast0311]

Wow, I don't even know if that is legal but surely not ethical. When the time came to pick up my Mav the Finance Manager told me Ford Credit could not beat my Credit Union rates and never tried to pull that stunt. Sorry you had that experience. You likely can refinance if you so choose.

Yea. It definitely made me reconsider but i couldn’t let them try to hustle the next person IF i would have walked. Also, my wife really loved it and i also needed a vehicle.
I will be refinancing else where and it seems like Navy Fed had competitive APR. If I refinance with FN, they have 4.74 at 60 that’ll put me $30 more than what I’m paying with Ford at their ridiculous APR at 72
I WISH they would have matched the outside APR cause Ford didn’t even come close! I have never had APR this high and believe me i have excellent credit. But times are hard for everyone and finding lower APR is very difficult. The lowest I found was 3.65 at 72 but Ford screwed me.

 

[jcast0311]

If you walk in with a check they will refuse that? Sounds what they are saying isn't exactly legal.

I wouldn’t know about the check part. If you were to walk in with a check… i would not let them know about it until you’re with financing because then they will hustle you. I did this with my wife’s NEW VW Atlas. I didn’t tell them my method. Told them they have 30 mins to get me out the door or I’m walking. Went straight to financing and i worked with them. I walked out wishing the 30 mins. Paid cash and never looked back.

Also, i wouldn’t think that would be an issue because dealers love cash in hand customers. Just work the best deal without letting them know you’re paying cash until you get to finance department.

 

[Ballbearing]

Help please! Has anyone gotten a rate of less than 5.04 % when financing through the dealer on their Maverick?

I got 3.5 %. But only after I told them that I had gotten quoted 3.5% from Navy Federal. they originally wanted me to pay 5.25%.

 

[MinntoMich]

Help please! Has anyone gotten a rate of less than 5.04 % when financing through the dealer on their Maverick?

We financed through our local bank for our Maverick. Bank was able to quote us 5.49% for 60 months with 780+ scores. I asked the dealer if they could meet it or do better and he seem surprised that we were able to get that rate. Told us he couldn't do better and to take it and we did.

Some of the 3.5 and 4% quotes mentioned here seem to be unbelievable, at least for my part of the country anyway.

 

[A.Bursell]

Also, i wouldn’t think that would be an issue because dealers love cash in hand customers. Just work the best deal without letting them know you’re paying cash until you get to finance department.

Dealers don't want cash customers - they make money off of financing. You pay cash and they lose that. Reports here of Ford offering a certain APR may not be true offers. Example, if you go direct to the Ford website and apply you might get an offer of say 5%. But if you go through the dealer, that Ford offer might become 5.5, 6, or 7% and the dealer profits. Not very well known, because they don't have to disclose that and they just say it's what Ford offered. Also not well known, but you can negotiate that as well. Best bet is to bring your own financing, even if it is through Ford. If you plan to pay cash, work the best deal you can with their financing, and then just pay it off.

 

[jcast0311]

Dealers don't want cash customers - they make money off of financing. You pay cash and they lose that. Reports here of Ford offering a certain APR may not be true offers. Example, if you go direct to the Ford website and apply you might get an offer of say 5%. But if you go through the dealer, that Ford offer might become 5.5, 6, or 7% and the dealer profits. Not very well known, because they don't have to disclose that and they just say it's what Ford offered. Also not well known, but you can negotiate that as well. Best bet is to bring your own financing, even if it is through Ford. If you plan to pay cash, work the best deal you can with their financing, and then just pay it off.

Details. I feel that that’s what happened to me. It may have been through dealer not Ford but according to his word it was directly through Ford. If so, I still do not understand the high APR. I’ll need to do some investigation.

 

[Hot pepper]

Help please! Has anyone gotten a rate of less than 5.04 % when financing through the dealer on their Maverick?

Mine was 2.44% but that was in 2022.

 

[NJBob]

Makes me happy I got a 22. Ford removed the keypad among other things increased the cost. I got 0% for three years.

 

[Chicolini]

Or you could take their financing and then immediately turn around and refinance with whichever bank/credit union you have pre-approval for.

They won't like it but they can't stop you.

When I did this, Navy Federal gave me $200 after I made three payments on time. Nice!

 

[Grumpa]

Yea. It definitely made me reconsider but i couldn’t let them try to hustle the next person IF i would have walked. Also, my wife really loved it and i also needed a vehicle.
I will be refinancing else where and it seems like Navy Fed had competitive APR. If I refinance with FN, they have 4.74 at 60 that’ll put me $30 more than what I’m paying with Ford at their ridiculous APR at 72
I WISH they would have matched the outside APR cause Ford didn’t even come close! I have never had APR this high and believe me i have excellent credit. But times are hard for everyone and finding lower APR is very difficult. The lowest I found was 3.65 at 72 but Ford screwed me.

Ford SUX!!!!!

 

[jcast0311]

Ford SUX!!!!!

True. I wish they would have honored my APR when I first ordered. 0 APR back when I placed my ordered at my dealership. But as soon as I went to pick up the truck… they acted like that didn’t exists. Lol I do believe what @A.Bursell said… dealers do whatever they can to get the most out of a customer because they want to suck us dry. Lol
At least I didn’t get any mark-ups or hidden charges through my deals. No matter, I absolutely love my truck and I would order again. Tremor was on my list after the announcement.. BUT… low payload and tow ratings quickly changed my mind. They are very capable pickups but I don’t want to regret not getting max ratings.

 

[Grumpa]

True. I wish they would have honored my APR when I first ordered. 0 APR back when I placed my ordered at my dealership. But as soon as I went to pick up the truck… they acted like that didn’t exists. Lol I do believe what @A.Bursell said… dealers do whatever they can to get the most out of a customer because they want to suck us dry. Lol
At least I didn’t get any mark-ups or hidden charges through my deals. No matter, I absolutely love my truck and I would order again. Tremor was on my list after the announcement.. BUT… low payload and tow ratings quickly changed my mind. They are very capable pickups but I don’t want to regret not getting max ratings.

I am 'old.' I have had it with Ford. The Mav will probably the last new vehicle I buy.

 

[Bob The Builder]

I am 'old.' I have had it with Ford. The Mav will probably the last new vehicle I buy.

I'm going to second that emotion.

 

[Numbers234]

If you think you will need to finance an auto in the future, open an account at your local credit union, and keep $1000 in the account. This way you're already a customer and they usually have the best auto rates for most people.

You might even be able to walk in open an account and apply for a loan the same day.

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