Current ford interest rates for raptor

[XSTNKT]

Hmm. I was under the impression that ford is not financing any raptors? Did that recently change?

Dealers typically say that because they get better kick-backs from other banks. Ford would finance a Ford GT for the right credit/interest rate, I'm sure.

 

[BIGW0RM]

Dealers typically say that because they get better kick-backs from other banks. Ford would finance a Ford GT for the right credit/interest rate, I'm sure.

More I think about this. I think I walked into the dealer asking them if Raptors could get the special financing rate the base F150's where being offered at the time (it was like 2-3% I think). They told me NO. That most people where getting 7-9% for raptors. I knew that was high, so I didnt bother running my credit with them or ford directly. I worked them on selling me one at MSRP. That took 3 weeks. And they assumed I was going to finance through them. You should have seen there faces when I presented my own financing once I got them to accept MSRP.

So if they did mislead me. Jokes on them. Because I got a lower rate than the super padded rate they were trying to offer for top tier credit.

 

[XSTNKT]

More I think about this. I think I walked into the dealer asking them if Raptors could get the special financing rate the base F150's where being offered at the time (it was like 2-3% I think). They told me NO. That most people where getting 7-9% for raptors. I knew that was high, so I didnt bother running my credit with them or ford directly. I worked them on selling me one at MSRP. That took 3 weeks. And they assumed I was going to finance through them. You should have seen there faces when I presented my own financing once I got them to accept MSRP.

So if they did mislead me. Jokes on them. Because I got a lower rate than the super padded rate they were trying to offer for top tier credit.

Oh yeah, you got the last laugh on that one! They don't get paid squat on new car sales. All their profit is in the financing and pack. I'm surprised they didn't send you down the road. lol

 

[noraptor]

More I think about this. I think I walked into the dealer asking them if Raptors could get the special financing rate the base F150's where being offered at the time (it was like 2-3% I think). They told me NO. That most people where getting 7-9% for raptors. I knew that was high, so I didnt bother running my credit with them or ford directly. I worked them on selling me one at MSRP. That took 3 weeks. And they assumed I was going to finance through them. You should have seen there faces when I presented my own financing once I got them to accept MSRP.

So if they did mislead me. Jokes on them. Because I got a lower rate than the super padded rate they were trying to offer for top tier credit.

so you went against the status quo and didn't just accept ADM...How dare you!

 

[shigman]

I financed the remainder of my gen 3 after trading the gen 2 and got 6.95% for 4 years. Definitely not great, but not as bad as it could be.

 

[bren5279]

May not be as relevant because I was looking at F250s, but had a local bank quote 7.49% for 6 year.

 

[bren5279]

For anyone with a 401k, being that interest rates are as bad as they are right now, consider looking taking a 401k loan. Much smarter way of doing it if you don't need more than 50k. Any interest you pay on it goes to yourself.

 

[WTX]

For anyone with a 401k, being that interest rates are as bad as they are right now, consider looking taking a 401k loan. Much smarter way of doing it if you don't need more than 50k. Any interest you pay on it goes to yourself.

The way I understand using your 401k is that the amount that is financed is taken out of the market and basically sits in a account until the loan is paid in full. So you’re paying yourself the interest but you’re not gaining anything with that money in the market. After processing fees I’m not sure it’s worth it. I see it to be more of a wash.

I could be wrong though

 

[New recaros]

The way I understand using your 401k is that the amount that is financed is taken out of the market and basically sits in a account until the loan is paid in full. So you’re paying yourself the interest but you’re not gaining anything with that money in the market. After processing fees I’m not sure it’s worth it. I see it to be more of a wash.

I could be wrong though

You lose if you use a401 k loan. The loan on the 401k is based on prime rate at the time of the loan. A local credit union and a 401k loan are very close in interest. You lose because you’re not making the interest on the money removed from the 401k. Say 50k not making 6% the first year as compared to your payments back to the 401k. Way different. Also, I think they make you sit out of contributions for three months. Don’t do it for a truck
If you have borrow from the 401k to buy it, you should not be buying it. I am not saying don’t borrow, just use a credit union

 

[GCATX]

You lose if you use a401 k loan. The loan on the 401k is based on prime rate at the time of the loan. A local credit union and a 401k loan are very close in interest. You lose because you’re not making the interest on the money removed from the 401k. Say 50k not making 6% the first year as compared to your payments back to the 401k. Way different. Also, I think they make you sit out of contributions for three months. Don’t do it for a truck
If you have borrow from the 401k to buy it, you should not be buying it. I am not saying don’t borrow, just use a credit union

I have a buddy that took out a home equity loan when rates were good. He paid off 2 new cars and pocketed some cash. I tried to talk him out of it, "dude, you're taking out a 30 year car loan now". Deaf ears.