Special Finance APR Rates Released for Maverick

[theek]

That's what I did. Haggled twice.

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[NorthShoreMaverick]

I just spoke to my dealer.
I was told that we can lock in the rates now until truck arrives and any rebates would still be valid at time of delivery. Not sure how true that is but if so a no brainer to lock in the low apr now.

 

[clavicus]

I just spoke to my dealer.
I was told that we can lock in the rates now until truck arrives and any rebates would still be valid at time of delivery. Not sure how true that is but if so a no brainer to lock in the low apr now.

Hm mine said those rates are subject to change, and have to be done at time of financing when the car is ready to be purchased. Not sure how the dealer locks it in.

 

[TerryE]

I sincerely doubt if you can 'lock' a car rate loan without even having the VIN number available. Bet the Sales guy is full of crap.

 

[martyi48]

Why in the world would Ford introduce these rates for the Maverick when they can not be used? Have they nothing better to do than fill up their time and website with meaningless figures? There has to be a reason for these rates to be in effective right now. My dealer's finance manager has not gotten back to my email with a response yet but these are basically the questions I asked.

I decided to call Ford. The rep there said it is up to the dealership to lock in rates right now. They might require a deposit to do so but they will work with you. She said incentives change all the time, month after month, so if you see one that suits your needs talk to the dealer and see if they will work with you on it. I said that if I read something on the Ford website I expect it to be valid everywhere and not subject to the whim of a dealer. She said the dealer always has final say in all things regarding sales and financing and Ford is only a guide. Well, that's that I guess. So, I will wait for the finance manager to call back and see if I can lock in that 0$ APR for 36 months. It is not going to get better than free for 3 years, as long as you can swing the monthly payments.

 

[RobBot]

iirc yes, but it doesn't affect your credit since those score formulas take into account if they're all within a certain time from each other it's just you looking at options.

You've got 30 days from the original pull to go around and pull as many times as you want (as long as it's the same type of credit pull, ie credit card or car loan). It all counts as one pull on your score.

 

[Spartan_J]

Why in the world would Ford introduce these rates for the Maverick when they can not be used? Have they nothing better to do than fill up their time and website with meaningless figures? There has to be a reason for these rates to be in effective right now. My dealer's finance manager has not gotten back to my email with a response yet but these are basically the questions I asked.

I decided to call Ford. The rep there said it is up to the dealership to lock in rates right now. They might require a deposit to do so but they will work with you. She said incentives change all the time, month after month, so if you see one that suits your needs talk to the dealer and see if they will work with you on it. I said that if I read something on the Ford website I expect it to be valid everywhere and not subject to the whim of a dealer. She said the dealer always has final say in all things regarding sales and financing and Ford is only a guide. Well, that's that I guess. So, I will wait for the finance manager to call back and see if I can lock in that 0$ APR for 36 months. It is not going to get better than free for 3 years, as long as you can swing the monthly payments.

I don't understand that. The dealer can't "lock in" a rate for Ford Motor Credit anymore than they could lock in a rate for my credit union. They are only pushing paperwork to the lender. They will get a kick-back from the lender for their work but the dealer has no input on the loan and rates.

 

[jjones252]

I am incredibly mistrustful of rates offered by auto makers and dealerships. They are going to get their money somewhere in the deal, and I've never had one that could touch bank rates when they were compared objectivity.

Always work out final pricing before you talk financing, especially trade in value. Once you've done that, then talk financing, and let them know what they are competing with and that you don't want to talk about monthly payments. You want to talk terms and rates, and they need to beat your current deal. If they want to change the price you'd already negotiated after they can't compete in financing then *walk away*.

Dealers want you to make an emotional decisions about how low the payments are, and how affordable a monthly payment is. It's tempting, but don't fall for it.

In the end, if they can be competitive, that's great! I'm skeptical though.

What can I do to increase trade in value of my car? Should I get offers from places like Carmax and Carvana?

 

[slashy42]

What can I do to increase trade in value of my car? Should I get offers from places like Carmax and Carvana?

I'm planning to private sell my current vehicle in the coming weeks, and pick up a beater for a few thousand to use as a trade in, or private sell that if I don't get close to what I paid for it. That's a lot of hassle, though, and I understand a lot of people not wanting to do it. Other than private selling I'm not sure.

Sometimes dealers will offer trade in incentives, but again, you gotta watch where the money goes carefully. Essentially the dealer is going to try to play three card Monty with trade in, vehicle cost, and financing. Their job is to maximize their profit, so the absolute best way to get the most is private sell your current vehicle and have a great self financed option in hand before you start trying to haggle, IMHO.

That said, weigh your options. If it's worth it to you not to deal with private selling then that's an understandable choice, just not one I'd make.

 

[slashy42]

I don't understand that. The dealer can't "lock in" a rate for Ford Motor Credit anymore than they could lock in a rate for my credit union. They are only pushing paperwork to the lender. They will get a kick-back from the lender for their work but the dealer has no input on the loan and rates.

They have a little, in that most dealer finance departments shop for the best rate they can mark up... Which is why you need your own financing option in hand.

 

[slashy42]

You've got 30 days from the original pull to go around and pull as many times as you want (as long as it's the same type of credit pull, ie credit card or car loan). It all counts as one pull on your score.

That's not true, you have 5 days after a hard inquiry, which you will have to do to get a rate locked in. You need to wait until a few days before you buy to start shopping financing terms.

 

[Up an down]

I'll take whatever finance deal offers the greatest rebate, and pay it off after a month or 2.

HRG

same here

 

[ffjack15]

Found this on Cars direct


Ford Mavericks Eligible For Plan Pricing Deals
By
Alex Bernstein
, Senior Pricing Analyst-June 23, 2021
0 Comments

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Ford's most affordable truck will offer one of the brand's best discounts. According to bulletins sent to dealers last week, all 2022 Mavericks are now eligible for Ford Plan Pricing, a special set of discounts available to Ford employees, suppliers, and individuals affiliated with designated companies and organizations.
Ford's best deal is for the company's employees and known as A-Plan, equating to a vehicle's invoice price plus a $275 program fee minus dealer holdback and regional advertising fees. Apart from employee discounts, offers like Friends & Neighbors Pricing are available to companies with a relationship with Ford.
The fact that the Maverick offers Plan Pricing could be a big deal given the model's low price point of just over $20,000. Although newer models like the Mustang Mach-E are eligible too, Ford Broncos remain excluded from X-Plan Pricing. Broncos are finally on their way to dealers now following production delays.

Early Maverick incentives have been surprisingly good. In addition to ultra-low lease rates, Ford Credit is already offering 0% financing. There's even a 7-year loan option. However, as we discovered earlier this month, the entry-level Maverick with a standard hybrid engine is completely excluded from lease deals.
The best part is that you can potentially combine Plan Pricing with advertised incentives. As a result, there may be an opportunity for Maverick buyers to significantly increase their savings. Ford is taking reservations now, with the new compact truck scheduled to begin arriving at dealers sometime this fall.
Other brands offer special pricing incentives, too. FCA (now Stellantis) offers Chrysler Employee Pricing and Hyundai has Circle Pricing. These deals may not be as limited as you think, too. For example, Chrysler offers GameStop employees special pricing while VW offers Partner Pricing to employees of Red Lobster.
Current Ford offers end on July 6, 2021.

 

[jjones252]

Wow, that’s the first I have heard of XL models not being eligible for lease.

 

[balucipher]

XL is excluded because the margins are razor thin on that model. Looks like they're trying to coax buyers into the jump up to XLT as much as possible

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