Just go buy one damn it.So you still overpaid but are not upside down.
As you can tell, I have a big issue with the auto industry at the moment. lol
Just go buy one damn it.So you still overpaid but are not upside down.
As you can tell, I have a big issue with the auto industry at the moment. lol
Problem with low interest rates through like Ford Credit, is you don’t get the huge discounts like I got on mine. At least that’s the way I understand it.
I borrowed $10k to get a additional $1k off. Made 1 payment and paid it off, so I still saved almost $900.Ford offers some rebates if you pay cash or finance through an outside bank, or they offer you a lower interest rate (and sometimes with a couple rebates), or all their public rebates if you finance through Ford Credit at standard rates.
1.) If you choose option #1, then Ford gives you some rebates and you can finance it or pay cash, and it's no different to them.
2.) If you choose option #2, then Ford takes the rebates, and buys down the interest rate. So in their mind, it's all the same.
3.) If you choose option #3, you'll have the highest amount of rebates, however the interest rate will be higher as well. In this case, Ford Credit is prospering from the mark up on the rate.
I borrowed $10k to get a additional $1k off. Made 1 payment and paid it off, so I still saved almost $900.
I guess that extra "o" was too expensive as wellI paid $70,000 for my Raptor and I went with 72 months cause it was just to much and I could not afford after I put everything I wanted on it. They are costly for the stuff you add to it.
I guess that extra "o" was too expensive as well
I'm very interested in a left over Focus ST or Fiesta ST, (leaning heavily towards the FoST). Is it possible to get one with 60 months or less @ 0% financing? Planning maybe to put $5k down.Ford offers some rebates if you pay cash or finance through an outside bank, or they offer you a lower interest rate (and sometimes with a couple rebates), or all their public rebates if you finance through Ford Credit at standard rates.
They mentioned making 1 Nick, and I believe it was 10k to get the additional rebates. I walked in with a check ready to buy it outright.Out of curiosity, did your dealer instruct you to make one payment then pay it off, or did you do that by choice? Also, did they tell you that you had to finance $10,000, or did you just randomly come up with that number?
They mentioned making 1 Nick, and I believe it was 10k to get the additional rebates. I walked in with a check ready to buy it outright.
They mentioned making 1 Nick, and I believe it was 10k to get the additional rebates. I walked in with a check ready to buy it outright.
I didn’t refi though, just paid off the note.Interesting, the last 2 I did they asked for 3 payments before doing a refinance
I remember back when the norm for an auto loan was 36 month & 48 months. Then as vehicle prices increased, we saw 60 months. And then came 72 month loans. And now we see 84 months. With prices north of $40K, it was inevitable that we'd see 84 months to make the purchase of a $50K+ vehicle "affordable". The terms is directly related to the high cost of the vehicles we drive. I would never get a 7 year note on a vehicle. Depreciation on a new vehicle increases the sting. I've leased my last 4 vehicles and I'll likely continue to lease.
You're right though, they really are!...and after reading this thread I remember why I prefer a used car. Today's vehicle prices are off the charts. It's crazy.
Yes. But you give up $4k in rebates.. probably not worth it.I'm very interested in a left over Focus ST or Fiesta ST, (leaning heavily towards the FoST). Is it possible to get one with 60 months or less @ 0% financing? Planning maybe to put $5k down.
That's bullshit. See below.They mentioned making 1 Nick, and I believe it was 10k to get the additional rebates. I walked in with a check ready to buy it outright.
After a customer makes one payment, the dealer gets to keep some of the reserve paid to them by Ford Credit, after 3 payments the dealer keeps all of it.Interesting, the last 2 I did they asked for 3 payments before doing a refinance
Along with everything else though.You're right though, they really are!
You lost me. They said if I financed $10k I’d get a additional $1k off. The truck had a sticker of just shy of $47. I paid $42,200 with tax, tag and everything. Am I missing something here?Yes. But you give up $4k in rebates.. probably not worth it.That's bullshit. See below.After a customer makes one payment, the dealer gets to keep some of the reserve paid to them by Ford Credit, after 3 payments the dealer keeps all of it.
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They get paid by Ford Credit to send them finance deals. You had to finance through Ford Credit in order to get the "Ford Credit Retail Customer Cash" rebate of $1,000. You couldve financed $5000 or less, then paid it off before your first payment. Since you financed $10k, made a payment, then paid it off...the selling deal was able to collect more money from Ford.You lost me. They said if I financed $10k I’d get a additional $1k off. The truck had a sticker of just shy of $47. I paid $42,200 with tax, tag and everything. Am I missing something here?
Ah, I still did good. Thanks for the insight. I get free oil changes...lolThey get paid by Ford Credit to send them finance deals. You had to finance through Ford Credit in order to get the "Ford Credit Retail Customer Cash" rebate of $1,000. You couldve financed $5000 or less, then paid it off before your first payment. Since you financed $10k, made a payment, then paid it off...the selling deal was able to collect more money from Ford.
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