Who financed through ford credit?

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GTlust

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Jun 25, 2006

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#1

• Jun 25, 2006

• #1

and what apr were you able to get? My credit is as good as it gets, my credit score is almost 900. 6 years ago when I purchased my first new car I was insulted when Ford credit only wanted to give me a 12% interest rate even though my credit was good then as well. My credit union is offering 4.5% on a new car.

 

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SaleenBuyer

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Jun 11, 2006

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Jun 25, 2006

#2

• Jun 25, 2006

• #2

Ford credit gave me 8.99% so the loan is going to my credit union at 5.65% instead.

 

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GTlust

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Jun 25, 2006

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• Jun 25, 2006

• #3

SaleenBuyer said:

Ford credit gave me 8.99% so the loan is going to my credit union at 5.65% instead.

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What's your credit score? If they offer me that I might just walk out.

 

Infinity

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Apr 7, 2002

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Charlestown, IN

Jun 25, 2006

#4

• Jun 25, 2006

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I got mine at 3.9%. IDK my score right offhand, but it is excellent. If they go any higher, walk away.

 

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GTlust

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Jun 25, 2006

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• Jun 25, 2006

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You know what, if I can get Chase to extend my credit limit a little on my mastercard I could pay with a convience check at 3.99% fixed.

 

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GTlust

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Jun 25, 2006

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Infinity said:

I got mine at 3.9%. IDK my score right offhand, but it is excellent. If they go any higher, walk away.

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Thanks infinity, that's the info i'm looking for. I figured if my rinky dink credit union can offer 4.5% then Ford credit should be able to do better than that.

I got my credit score a few months ago for the first time in my life and I was 24 points from a perfect score.

 

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SaleenBuyer

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GTlust said:

What's your credit score? If they offer me that I might just walk out.

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Credit score is extremely high but they offered me a deal on the car. So I just walked across the street and gave my bank my loan. No big deal. Typical dealership games to get a good sales price.

Also, keep in mind rates increase with larger loans and longer terms. I did not finance a $27k GT afterall.

 

abouttobeglue

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Nov 25, 2001

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birmingham al

Jun 25, 2006

#8

• Jun 25, 2006

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i got 12 from ford credit, 640 score, tried credit unions, have no idea how they do credit, it was a 540. dont have bad credit, just have a house and 2 cars, i guess at 25 its considered too much credit, i have no credit cards. im going to refi at after , in august when the other cars paid for, should raise my rating hopefully.

 

cowtown

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Victoria, BC Canada

Jun 26, 2006

#9

• Jun 26, 2006

• #9

I got 5.9% which is the standard Ford Credit Canada rate for purchase (lease was 9.9%). It was also the rate being currently quoted by my bank.

I had to spend a while building my credit back up after I closed a business and moved and now that it's the best it's ever been I may not be as astute at fighting for better rates. Though I was pretty happy with 5.9%.

That being said remember this is Canada so a different economy and interest rates up here.

 

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FLY2kGT

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Jun 26, 2006

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• Jun 26, 2006

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You said your credit score was almost 900...but the scale only goes to 850? Another thing that affects your credit rating is your debt to income ratio. That is, the amount of payments you must make every month compared to your income.

 

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Pro Mod

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Nov 16, 2005

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Wharton, WV

Jun 26, 2006

#11

• Jun 26, 2006

• #11

I got 7.9% on 72 months back in Nov. '05. At the time, my credit score was a 700. The dealer tried to stick me with an 8.9%, but I knew they always add a point to their buy-rate.

I know the 7.9% is still a little high-ish, but this was my first new car in my name ONLY so I knew I'd have somewhat of a premium; and I am not a member of a credit union
My last new car (2003 Subaru Impreza bought back in Dec. 02), I had a cosigner. I had 3.9% on 60 months for that car financed through Chase/Subaru.

 

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gneal

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Mar 31, 2005

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OKC, Oklahoma

Jun 26, 2006

#12

• Jun 26, 2006

• #12

We financed our Explorer through them at 0 percent interest. It's the first time I have ever seen the payoff amount the same as the sale price of the vehicle.

Of course, it was a special offer they were making 4 years ago, but oh well.

Good luck!!

 

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wht-v6-vert

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Jul 6, 2005

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Jun 26, 2006

#13

• Jun 26, 2006

• #13

Call the bank first, they have to be competitive. My experience has been that ford will match what you can do out in the real world. They make money by getting you to sign up for crappy financing.

 

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shooterm1

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Jul 18, 2005

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Jun 26, 2006

#14

• Jun 26, 2006

• #14

FLY2kGT said:

You said your credit score was almost 900...but the scale only goes to 850? Another thing that affects your credit rating is your debt to income ratio. That is, the amount of payments you must make every month compared to your income.

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What a hoot!!

question: / does FORD even want to sell these cars or not?

 

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GTlust

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Jun 25, 2006

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Jun 26, 2006

#15

• Jun 26, 2006

• #15

FLY2kGT said:

You said your credit score was almost 900...but the scale only goes to 850? Another thing that affects your credit rating is your debt to income ratio. That is, the amount of payments you must make every month compared to your income.

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Your right, i could not remember if it went to 900 or not. My score 2 months ago was in the 800's and so was my wifes. I think she is riding my coattails though since i'm 4 years older than her and have had good credit longer. I think I was 827 and she had 807. I was a little upset that it was not perfect since i've had established credit since I was 19 and i've never missed a payment on anything in 14 years. I've read how they calculate the score and only 35% is from your credit history. Having credit cards that aren't maxed out actually helps your score compared to having none at all. My truck is payed for and my wife has 1 payment left on her 2002 pt cruiser which is why i'm looking for a new car. I need that car payment to keep me from tell my boss where to stick it!