It's going to depend which Tier of credit you fall into. I don't have the specific breakdowns currently, but to be honest, due to Ford's junk credit rating, Ford Motor Credit cannot be competitive.
Banks actually go by the prime so since "the economy" is getting better rates will go up. I think the longer you strech the loan the more u will pay too.
I got an interest calc that is great fun to play with.
As mentioned previously, this varies from person to person based on credit scores, etc, but my credit union is offering 5.90% on new car loans right now, so Ford's 6.25% doesn't seem terrible.
I have a credit score over 800 and my dealer couldn't offer me anything better than 6.5%. I went to a credit union and got 4% fixed for anything up to 80 months. The salesman said you are just about always better off arranging your own financing.
Shop for your own loan. I got a rate at the Stealership, then went home and filled out an app with my credit union (NFCU) and in 10 minutes was approved 2% lower than the stealership. The stealership gets a little higher rate at the same bank than if you tried by yourself, thay probably get a kickback.
Shop for your own loan. I got a rate at the Stealership, then went home and filled out an app with my credit union (NFCU) and in 10 minutes was approved 2% lower than the stealership. The stealership gets a little higher rate at the same bank than if you tried by yourself, thay probably get a kickback.
I love comments like this!! Ford Credit rates have nothing to do with the "stealership"! Right now the best rate someone may qualify for is 6.99 tier 0 720+. CU's will always have better rates.
BTW, has anyone noticed that the fed. reserve has raised rates 13 consecutive times!!! Are mortgage rates the same as they were 2mo's ago, 4mo's ago, 6,8 .....
So everyone knows, I personally went through the CU on my own personal loan.