Monthly payment

[colinl]

At the end of June, I borrowed at 6.05% from PenFed Credit union for 72 months. The internet rates are about the same now. The dealer wanted 7.99%. Very easy to do business with.

A nice feature is that when you pay extra, they move the due date of the next payment forward. My next payment is due in October 2024. Ford Credit does not do that.

interesting. are they still calculating interest against the original principal, I wonder? if they are not crediting your overpayment against the principal, I could see it instead being credited as an early future payment.

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[710-oil-614]

Had enough equity in the previous vehicle the dealership actually wrote me a check and I got a sweet Tremor too!

 

[Ozarkbeard]

0%

XL Hybrid, CP360 was $23,339 OTD. Paid cash 3 wks ago. Private sale of previous vehicle was $13K, so net cost of $10,339.

 

[vanslam]

3.9% financing on $23,357, $429.74/month. Writing a $300 check every two weeks and mailing 2 or 3 checks with each monthly statement.

Nice interest rate.

 

[vanslam]

$870/month. 2022 Lariat Lux Hybrid, 0% for 36 months, full amount financed.

Will be paid off in 17 months!

How did you get a 0% rate? That is exceptional.

 

[Hillbilly]

Me too! Just gotta pay myself back

 

[clearviewx]

What are ya'll paying per month? I am financing a 2023 ecoboost. $33k after taxes fees. Trading in my car for a minimum of $8.5k. $5k down. 7.7% interest rate. $379 per month.

7.7% interest rate. you got robbed

 

[Gullzway]

How did you get a 0% rate? That is exceptional.

First year Maverick Ford Rate.

 

[Chicolini]

interesting. are they still calculating interest against the original principal, I wonder? if they are not crediting your overpayment against the principal, I could see it instead being credited as an early future payment.

The Credit Union will compute interest on the actual principal balance. The total interest I pay will be lower if I make additional payments, the term of the loan will be shorter. The fact that they advance the due date reduces the risk that their loan will default. This seems to be a common trait at military related credit unions. It helps the member and the credit union.

 

[ucafaro]

7.7% interest rate. you got robbed

Just was pre approval. I haven’t actually paid for anything or made a final decision. That rate is def nuts.

 

[Don806]

Nice interest rate.

It was 2.9 on the one I ordered, but this truck was available much sooner. Not sure we’re gonna see rates that low again any time soon

 

[Maverick Grabber]

same here

 

[huunvubu]

My original 2022 Ford Maverick XLT Hybrid cost $26,068 total out-the-door which includes all taxes, title and fees. No trade in.

I put $3,000 on the FordPass Visa Card which earned me 30,000 FordPass points + a bonus 11,000 FordPass points for first purchase plus a $100 Statement Credit.

Paid $5,068 in Cash.

Financed the remainder of $18,000 with Ford Credit at 0% interest.
Payment was $500 a month.

Paid off the $3,000 I put on the FordPass Visa Card at first statement in cash.
So no interest was paid on it.

Made 18 monthly payments of $500.

After 18 months I paid off the remaining balance of $9,000 in cash because I was selling the 2022 Maverick to Carvana and needed the title.

Again no interest was paid as the loan was at 0%.

Sold my 2022 Ford Maverick XLT Hybrid with 9,269 miles and a roof defect to Carvana for $31,404.

The Carvana check of $31,404 was $5,336 more than the $26,068 total out-the-door that I paid for the 2022.

My new 2023 Ford Maverick XLT Hybrid cost $28,341 total out-the-door which includes all taxes, title and fees. No trade in.

Put $5,000 on the FordPass Visa Card which earned me 50,000 FordPass points.

Paid the remaining $23,341 in cash from the $31,404 I got from Carvana.

Paid off the $5,000 I put on the FordPass Visa Card at first statement in cash.
So no interest was paid on it.

I have paid no interest at all on the purchase of my 2022 and 2023 Maverick.

The 2023 Ford Maverick XLT Hybrid with a cost of $28,341 total out-the-door is less than the $31,404 I got from Carvana.

So in effect you can look at it as I traded in my 2022 with 9,269 miles and a roof defect for my new 2023 and got an additional $3,063 in cash.

As for the FordPass points:

On the 2022 I got 42,000 points for the purchase and 41,000 points + $100 statement credit for using the FordPass Visa card.

I used those points and credit to get a Hard Drop-in Bedliner and Front/Rear Splash Guards for FREE.

On the 2023 I got 42,000 points for the purchase and 50,000 points for using the FordPass Visa card.

So far I have used the points for the purchase of the Ford Bed Mat, an additional Bed Cubby on the Driver Side and a Tailgate Liner for FREE

I still have 31,172 points for additional FREE Ford Parts or Service purchases.

 

[ucafaro]

My original 2022 Ford Maverick XLT Hybrid cost $26,068 total out-the-door which includes all taxes, title and fees. No trade in.

I put $3,000 on the FordPass Visa Card which earned me 30,000 FordPass points + a bonus 11,000 FordPass points for first purchase plus a $100 Statement Credit.

Paid $5,068 in Cash.

Financed the remainder of $18,000 with Ford Credit at 0% interest.
Payment was $500 a month.

Paid off the $3,000 I put on the FordPass Visa Card at first statement in cash.
So no interest was paid on it.

Made 18 monthly payments of $500.

After 18 months I paid off the remaining balance of $9,000 in cash because I was selling the 2022 Maverick to Carvana and needed the title.

Again no interest was paid as the loan was at 0%.

Sold my 2022 Ford Maverick XLT Hybrid with 9,269 miles and a roof defect to Carvana for $31,404.

The Carvana check of $31,404 was $5,336 more than the $26,068 total out-the-door that I paid for the 2022.

My new 2023 Ford Maverick XLT Hybrid cost $28,341 total out-the-door which includes all taxes, title and fees. No trade in.

Put $5,000 on the FordPass Visa Card which earned me 50,000 FordPass points plus a $100 Statement Credit.

Paid the remaining $23,341 in cash from the $31,404 I got from Carvana.

Paid off the $5,000 I put on the FordPass Visa Card at first statement in cash.
So no interest was paid on it.

I have paid no interest at all on the purchase of my 2022 and 2023 Maverick.

The 2023 Ford Maverick XLT Hybrid with a cost of $28,341 total out-the-door is less than the $31,404 I got from Carvana.

So in effect you can look at it as I traded in my 2022 with 9,269 miles and a roof defect for my new 2023 and got an additional $3,063 in cash.

As for the FordPass points:

On the 2022 I got 42,000 points for the purchase and 41,000 points + $100 statement credit for using the FordPass Visa card.

I used those points and credit to get a Hard Drop-in Bedliner and Front/Rear Splash Guards for FREE.

On the 2023 I got 42,000 points for the purchase and 50,000 points + $100 statement credit for using the FordPass Visa card.

So far I have used the points for the purchase of the Ford Bed Mat, an additional Bed Cubby on the Driver Side and a Tailgate Liner for FREE

I still have 31,172 points and the $100 statement credit remaining for additional FREE Ford Parts or Service purchases.

How are people getting 0% interest?

 

[huunvubu]

How are people getting 0% interest?

The 0% for 36 months was offered by Ford Credit when I purchased my 2022 Maverick in December 2021.

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