Maverick Launch / Special Financing extended to Sept 30th

[93nighthawk]

Good News, Ford is extending the launch of special financing.

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[skadizzle]

I thought they were honoring original finance options anyways? Was that set to go away or is this a separate incentive?

Either way I doubt I will have my Maverick by then...

 

[PcGnUs]

What in the world is a one tier enhancement?
Sorry showing my lack of knowledge.

 

[fordvideoguy]

I thought they were honoring original finance options anyways? Was that set to go away or is this a separate incentive?

Either way I doubt I will have my Maverick by then...

This is for special guaranteed approvals and a 1 tier bump for rates. If you are a tier 0-2 tier approval probably don't need to worry about this because rates should be locked in and protected by your dealer through smart Vincent.

 

[fordvideoguy]

What in the world is a one tier enhancement?
Sorry showing my lack of knowledge.

If your credit gives you a tier 2 approval, you will receive tier 1 rates.

 

[dbmurray]

What in the world is a one tier enhancement?
Sorry showing my lack of knowledge.

You've gotta love how they create their own random language that must then be "interpreted" by someone at the dealership and "explained" to the customer when it doesn't mean what they think it means.

 

[Jmav2152]

Is there a break down of what each of these line items are trying to say?

 

[skadizzle]

This is for special guaranteed approvals and a 1 tier bump for rates. If you are a tier 0-2 tier approval probably don't need to worry about this because rates should be locked in and protected by your dealer through smart Vincent.

Thanks Tim. I believe I am tier-1 or at worst a tier-2 so should be covered. Hopefully mine shows up before the end of September anyways.

 

[Finklejag]

If you have a 620 FICO, you shouldn’t be ”trying” to buy a new car.

 

[WesM]

I'm assuming with a credit rating that hovers in the high 700eds and a 20% downpayment, thats a pretty safe bet for tier 1? Never financed a new vehicle before.

 

[dbmurray]

Is there a break down of what each of these line items are trying to say?

1. New Ford Maverick models only...they aren't doing this for F150 buyers
2. Maximum 20% to Income...if you only make $10,000 per year, your payments can't exceed $2000 per year
3. Maximum advance 110% on MSRP....they aren't going to finance $10,000 dealer markups over the suggested retail price, just MSRP with a reasonable 10% margin for destination fees, etc.
4. Maximum terms...they aren't going to finance your loan for more than 72 months...
5. Tiers 1-4, Standard and Subvened, personal use only...loan shark gibberish they'll have to explain to you at the point of purchase and probably leave you feeling cheated if you don't qualify...the "personal use only" bit likely means it's not available on Mavericks you intend to us for commercial purposes. (When I typed this, "subvened" is underlined in red, because the built-in dictionary doesn't consider it to be a real word. It actually is real word, though, that means "arrived or occured as a support or relief." How that applies to a loan, though, is still not clear.)
6. Minimum FICO score...you aren't getting a loan if a credit bureau rates your past history buying stuff with someone else's money as less than ideal
7. No prior repossessions, etc...like #6, if your history indicates you won't pay, you won't get these terms.
8. One unit...if you buy two or more Mavericks, you're only getting these terms on one of them.

 

[Jmav2152]

1. New Ford Maverick models only...they aren't doing this for F150 buyers
2. Maximum 20% to Income...if you only make $10,000 per year, your payments can't exceed $2000 per year
3. Maximum advance 110% on MSRP....they aren't going to finance $10,000 dealer markups over the suggested retail price, just MSRP with a reasonable 10% margin for destination fees, etc.
4. Maximum terms...they aren't going to finance your loan for more than 72 months...
5. Tiers 1-4, Standard and Subvened, personal use only...loan shark gibberish they'll have to explain to you at the point of purchase and probably leave you feeling cheated if you don't qualify...the "personal use only" bit likely means it's not available on Mavericks you intend to us for commercial purposes. (When I typed this, "subvened" is underlined in red, because the built-in dictionary doesn't consider it to be a real word. It actually is real word, though, that means "arrived or occured as a support or relief." How that applies to a loan, though, is still not clear.)
6. Minimum FICO score...you aren't getting a loan if a credit bureau rates your past history buying stuff with someone else's money as less than ideal
7. No prior repossessions, etc...like #6, if your history indicates you won't pay, you won't get these terms.
8. One unit...if you buy two or more Mavericks, you're only getting these terms on one of them.

My man! Nice thank you!

I was planning on just using my CU but I guess I'll take a look at their apr.

 

[HeagleBeagle]

This also depends on how many credit inquiries you have in the last 2 years, my credit score is great but I have a lot of inquiries so your tier will be affected by that, I know from experience

 

[WasChops]

It is hard for me to fathom that the end of June approaching will be 1 year wait for a Hybrid I ordered!!! WTF Ford... horrible customer service setting expectations! And yes, I understand all of the Supply chain issues, I sell IT equipment. But auto-generated emailed letters should have been sent to reset expectations and to retain customer satisfaction.

 

[Rob Cactus Gray]

This is for special guaranteed approvals and a 1 tier bump for rates. If you are a tier 0-2 tier approval probably don't need to worry about this because rates should be locked in and protected by your dealer through smart Vincent.

It can’t be said enough that you rock. Ford should really pay you $1 for every Maverick sold.

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