Price protection and finance rate

[NJBob]

Another poster said that his dealer said he can have price protection or the finance rate but not both from the time he ordered his. Has anyone else experienced this? My truck is due in a couple of weeks and would like to be prepared. Thanks

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[captredbeard]

Just some backstory I ordered hybrid at $600 under msrp back in October and just picked it up today. At first they said that I was not price protected for interested rate or msrp and blamed it on inflation and Ford. I had printed out the handy Dealer notification of price lock from this forum along with the Smart Vincent instructions to lookup finance rates. Magically they then offered the truck to me as October MSRP but then refused the extra $600 even though it was on my signed order sheet. They also said the best rate was 6% for 36 months. I again mentioned that in Octover is was 0% for 36 and asked them to lookup under smart vincent. After 30 minutes they could only find 1.9% for 36 months (this was the 60 month rate on Oct). I ended up taking that deal and so ended up paying $600 more for the truck then promised, and $707 more for financing then promised. Next time will make dealer printout financing deal at time of order. They also tried to add a gps tracker for if it was stolen, no mention that the Maverick has a gps tracking in Ford Pass app! I know dealers are usually only caring about that short term sale but was hoping mine wouldn't be.... this was my 3rd and last from them.

 

[NJBob]

Hope that does not happen to me. But why does the finance rate matter to them. No skin of their back with that.

 

[westyman71]

Hope that does not happen to me. But why does the finance rate matter to them. No skin of their back with that.

Dealers get a "commission" on auto financing. Higher rate = higher profit.

 

[NJBob]

Makes sense. Another poster here is who a dealer looked up my order in smart Vincent. Said I qualified for 0% for 36 mos. I ordered in Dec. Looking back at the time of ordering the I was not concerned with the finance rate but the dealer wanted my info anyway. Alot has changed in a year.

 

[jsus]

Hope that does not happen to me. But why does the finance rate matter to them. No skin of their back with that.

They have a profit margin built into everything they sell you, including financing.

Depending on the lender, dealers are even allowed to mark up the interest rate for more profit on the commission check.

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