Ford Credit

[Olsen Motorsports]

Ford credit has some great deals right now. I bought an explorer on Monday at 0.0 for 36! I think they also had a 0.9 for 48 as well. Credit union is also a safe bet

 

[KCHawkeye02]

Remember to ask what the buy rate is vs the sell rate. From what I have read, the buy rate is the actual APR% the lender offers, then Ford tacks on a bit to make more profit.

For example they submit the loan application, lender comes back with 3% based on your credit/auto score, which is the Buy Rate. Then the salesman/finance office comes back to you with 3.5% or 4%, the Sell Rate. Ask them what the Buy rate was, and then compare that to what you can get at a local credit union/penfed/etc. If they usually add to the buy rate, they will probably $hit their pants when you ask because they will be caught hosing you.

Just remember, negotiation is not done until you have the final numbers and take delivery. Even the items they try to add on in the finance office is negotiable. Decline all the crap (nitrogen tires, window etching, scotchguard, whatever). If you want an extended warranty, you have up to 12 months to get it after delivery. If you want it worked into your loan, have them match Floodfordesp.com. They will only make $50 or something tiny, but its more than $0. If they dont match, go with FloodFord.

 

[Honeybadger_Zero]

I got 1.99 in 2017 from Capital One...well my dealer did. I emailed my credit union rates to the stealer and said you can have the loan if you can beat 2%...play them all off each other...I went with the dealer for the convenience, one place, bunch of signatures, drive Raptor home.

current rate for my CU below for proof...lol who would believe 1.24 without a pic

View attachment 312100

Problem is that includes discounts for using their car buying service and automatic payments. There’s always a catch to these super low rates. Basic advice is shop around find some decent deals. And wait to see if Ford credit runs a special on financing when nearing delivery. But likely not for the Raptor. And your rate will mostly be determined by the length of loan if you have decent credit.

 

[Frank N]

Problem is that includes discounts for using their car buying service and automatic payments. There’s always a catch to these super low rates. Basic advice is shop around find some decent deals. And wait to see if Ford credit runs a special on financing when nearing delivery. But likely not for the Raptor. And your rate will mostly be determined by the length of loan if you have decent credit.

Sure there are always catches but its still 1.49 with auto payments....sure beats paying 28% on cap gains from a stock sale.

 

[KevoUsmc]

Don't you also have to pay attention to the structure of the loan because I think some loans actually have penalties if you pay it off early? My rep ran my credit when we ordered and put down a deposit. He eventually got back to me and said "we are good credit wise, rate would be 3.7%" or something like that. I laughed and didn't even bother to respond because the interest on my mortgage is only 2.5%, once they take delivery I plan on reaching out to my local credit unions and running a few quotes on myautoloan.com for comparison to negotiate down.

 

[Frank N]

Check your state laws on loan prepayment penalties. They vary by state.

They also vary by lender as some will waive that penalty.

 

[raptordan2021]

Thanks guys!

 

[Sephiroth]

I got 1.99 in 2017 from Capital One...well my dealer did. I emailed my credit union rates to the stealer and said you can have the loan if you can beat 2%...play them all off each other...I went with the dealer for the convenience, one place, bunch of signatures, drive Raptor home.

current rate for my CU below for proof...lol who would believe 1.24 without a pic

View attachment 312100

That’s just what they tell you to make you apply (it’s an ad). Pentagon has below 1% on advertisement and when you apply they’ll jack it up.

 

[ganooch]

I have financed my last two Expedition Limited through Ford Credit for 0%. Not sure I can get that same deal on the Raptor, but there is a big precedent there...

 

[laxmike32]

That’s just what they tell you to make you apply (it’s an ad). Pentagon has below 1% on advertisement and when you apply they’ll jack it up.

Have you had that happen with Penfed? I was planning on going through them since they have very low rate, I opened an account just to do so.