Is this how Ford typically does business?

[Mdibon]

I would agree with Dryheat. Make sure that the Ford Credit is an open loan. Then just re-fi else ware. What i dont get is why the dealer is making such a big deal of this. its fords money. The dealer has already been paid.

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[Azul93GT]

Is your bank giving you a better deal than Ford Motor Credit? They're hard to beat.

 

[Old Ranchero]

I would agree with Dryheat. Make sure that the Ford Credit is an open loan. Then just re-fi else ware. What i dont get is why the dealer is making such a big deal of this. its fords money. The dealer has already been paid.

that is not correct. Ford owns the vehicle until it is received by the dealership. Then the dealer owns it until they sell it to a customer. I'm not excusing these BS tricks some sales departments play, but on Mavericks there is only a couple hundred $ difference between the invoice amount vs. MSRP especially on low end XLs and vehicles with few if any options beyond standard trim. If you search this forum you can find the pricing lists to see for yourself. My dealer order acknowledgement form I got at time of my ordering has both the Invoice & MSRP info printed as well. Yes, they likely still get other hidden compensation behind the scenes we never see like Holdbacks.

Again, no excuses for these bad apples trying to extract more $ from buyers with shady tactics, but not all do that, and I'm sure part of their justification to themselves for the scam is the low profit margin on the Maverick and not even getting their commission until many months later with this new retail ordering system. Not our problem, but it is what it is and we can always walk if they pull anything we don't like.

 

[Clark6]

my dealer told me no mark ups..(they get a flat rate) even told me i can get the rate at the time of order With Ford Credit 0.9% for 48mo.

didnt need a down payment but gonna take 5k Tuesday so my payments be $500 a month... WE will see...... No tricks so far..$28k & change for my XLT

 

[Old Ranchero]

If you want the truck, your best option might be to take the dealer financing (assuming you read the paperwork and assure yourself that there is no prepayment option).

Then you can refinance with your credit union and pay off the dealer loan in a month or so.

BUT... be sure your credit union will agree to refinance the vehicle on the terms you want.

did you mean no prepayment Penalty? I always ask about this on any loan for any product I would want to payoff early and don't want to get penalized for doing so.

 

[Dun4791]

Yes, this is the new post Covid dealership experience and corporates lack of action to eliminate it shows they condone it.

 

[tonyinsd]

Yes, this is the new post Covid dealership experience and corporates lack of action to eliminate it shows they condone it.

It's hard to control a vehicle you no longer own. That's Ford's dillema.

I personally don't have a problem with taking the dealer's financing and then paying it off with a check as soon as the paperwork is done. Do they make more money on it? Yes, they do.

But it's not coming out of my pocket, so I really don't care.

Others may. Different strokes for different folks.

 

[Dano]

Is your bank giving you a better deal than Ford Motor Credit? They're hard to beat.

OP mentioned that she is taking out additional monies above the price of the truck so..........

 

[johnpbrewer]

This is how "dealers" do business. This has nothing to do with Ford Motor Company.

Well, Ford apparently allows this. Otherwise they will step in here and correct this.

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