Low Interest Rate Tip

[TS0323]

I just finalized the paperwork for my Maverick, though I can't take delivery yet because of the stop sale/fuel tank recall. Normally I wouldn't have finalized anything until the vehicle was ready, but this is for an XLT Lux that I found at a local dealer for MSRP (!), so I wanted to lock it in. Worst case it'll just take a few weeks from what I was told.

I've been a customer with DCU (Digital Federal Credit Union) for a bit now and have very good credit. For anyone who doesn't know, if you use them as your bank and direct deposit your paycheck with them, you can get a rate of 1.49% for 65 months with another 0.25% shaved off for fuel efficient vehicles like the Maverick. I was looking at 1.24% for 65 months or 2.24% for 72 months.

Shockingly, the Ford finance manager was not only able to match the 65 month rate, but I was able to get a rate of 1.75% for 72 months!
I am generally not a fan of auto loans that long, but with the APR that low it's more financially prudent for me to take the longer loan and invest the extra money instead.

All this to say that if you have very good/excellent credit, it pays to find a good rate at a credit union and try to have Ford beat it. You might be pleasantly surprised like I was. Of course, my finance manager got much less friendly once I declined all the BS add-ons, but he'll have to deal

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[maverick33]

I just finalized the paperwork for my Maverick, though I can't take delivery yet because of the stop sale/fuel tank recall. Normally I wouldn't have finalized anything until the vehicle was ready, but this is for an XLT Lux that I found at a local dealer for MSRP (!), so I wanted to lock it in. Worst case it'll just take a few weeks from what I was told.

I've been a customer with DCU (Digital Federal Credit Union) for a bit now and have very good credit. For anyone who doesn't know, if you use them as your bank and direct deposit your paycheck with them, you can get a rate of 1.49% for 65 months with another 0.25% shaved off for fuel efficient vehicles like the Maverick. I was looking at 1.24% for 65 months or 2.24% for 72 months.

Shockingly, the Ford finance manager was not only able to match the 65 month rate, but I was able to get a rate of 1.75% for 72 months!
I am generally not a fan of auto loans that long, but with the APR that low it's more financially prudent for me to take the longer loan and invest the extra money instead.

All this to say that if you have very good/excellent credit, it pays to find a good rate at a credit union and try to have Ford beat it. You might be pleasantly surprised like I was. Of course, my finance manager got much less friendly once I declined all the BS add-ons, but he'll have to deal

Yes, Credit Unions are a good source for loans. They are members driven.

 

[TKranbuhl]

Stopped by my dealer yesterday to have my trade in appraised. Talked about financing because the dealer is offering 0.9% on Mavericks. Salesman said the good news is since I ordered the Maverick last December, the interest rate at the time was 0.0%. I won't be trading anything in and will be putting down as little as possible and taking the max time to pay it off. I'll sell my car outright and invest the money and hopefully make a little to pay the monthly payments.

 

[HerrJavier]

Stopped by my dealer yesterday to have my trade in appraised. Talked about financing because the dealer is offering 0.9% on Mavericks. Salesman said the good news is since I ordered the Maverick last December, the interest rate at the time was 0.0%. I won't be trading anything in and will be putting down as little as possible and taking the max time to pay it off. I'll sell my car outright and invest the money and hopefully make a little to pay the monthly payments.

If you ordered before December, like me, is 0% for 36 months though, 0.9% for 48 months and so on.

Just saying, if you want the 0% you can’t take that much time to pay it off, has to be in 36 months.

I’m with my calculator now, is everything goes right picking up my Mav tomorrow or monday. Yayyyyy

 

[OB1e]

Fyi dcu rate went up again today. New EV rate is 1..99%/65mos

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