Ford Credit Question

[BamaSixGun]

well max, because my truck was to be used as a commericial vehicle that was for hire, i had to use ford credit.

the banks around here will not finance a 1 ton truck, and they would have veen higher than ford if they did. i got 7.9% on my truck thru ford credit.

the 500.00 & 1000.00 rebates came off the top, before financing occured.

i have way to much credit over my head, so i was glad just to be able to get my truck. i currently have less than 2 years to go on it, and then its mine

 

[WD40]

Yep, Big-K. Around here the first thing they say is how much you want your payments to be. I look at them and say did I say any thing about Payments? I said how much will it cost me to drive it off of your lot. I hate playing there games and I walk off real fast. By the way, It's still raining here.

 

[Maxtor]

well max, because my truck was to be used as a commericial vehicle that was for hire, i had to use ford credit.

the banks around here will not finance a 1 ton truck, and they would have veen higher than ford if they did. i got 7.9% on my truck thru ford credit.

the 500.00 & 1000.00 rebates came off the top, before financing occured.

i have way to much credit over my head, so i was glad just to be able to get my truck. i currently have less than 2 years to go on it, and then its mine

Bama;

It looks like you are doing very well with your business.
When we were your age, and working, most of us financed all our vehicle purchases.
Only when we get older, and retired, your house and toys are paid for then more money comes in than goes out, so you have extra money to pay cash for things. Still you want to get the best deal for your money, and it always is a challenge to find the best deals.
Example: We have a 240ZV8 road race car and we want to purchase a posi unit for our differential for the car to use in drag racing. I could spend $1,500 (list price) for a new posi, but I am to cheap to do that, so I am looking around to find a good deal. My buddy says, I should stop messing around and buy the Posi at list price and get it over with, but I enjoy the thrill of the hunt so to speak of looking for a good deal.
That is basically why I went through Ford Credit, (for the $500) but I might be sorry later.
Back 20 years ago, I do not remember lenders loaning money at 0% interest. I do not know the good and the bad of that type of loan, but since you went with the 7.9%, I am sure that was the better deal.

 

[Maxtor]

Yep, Big-K. Around here the first thing they say is how much you want your payments to be. I look at them and say did I say any thing about Payments? I said how much will it cost me to drive it off of your lot. I hate playing there games and I walk off real fast. By the way, It's still raining here.

Yep WD;

We can do that now, but remember when we were younger, we did not have the money to pay cash...I remember getting a lone on a new 1970 Mustang MachI , and thought how in the world am I going to pay for this thing. Also worrying about a loan on our $21,000 house. How in the world were we going to make those high $200 per month payments
The average house now in our area starts at $375,000. , and that is cheap for California. I do not know what the payments would be on that amount, but it would be very scary for a young couple starting out.

 

[Big K]

Well, I wish i could pay cash for a car/truck, but won't happen right now. I hope soon though

But Yea, I don't play salesman games.

I either call and make a appointment and KNOW what I am going to look at, this tells them you are IN PROCESS of buying and not a tire kicker.

So either a sales manager or someone in fleet is who i try to talk to I don't need anyone to SELL me anything, just need to BUY something

Also, Yea, not sure why some compaines won't loan on a 1 ton truck, kinda odd.

 

[no-red 6 0]

ok. so now i am scared. when i acquired my truck back in 03 i was told the best i could get from ford credit was 9.9% (too long ago to remember-could have been over 10%) and now i feel i could have been screwed....

i too now owe just over 2 years and it is solely mine...

thoughts anyone?!

 

[WD40]

Car & Truck Saleman & Woman don't like the internet. They know that us old dumb Truck & Car buyers can get on our PC's at home and find out just what they cost. Also you can get on a link like LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance and get your own Auto Financing and keep them out of the loop.
I have no stock or anything to gain by using any of these names.

 

[BamaSixGun]

ok. so now i am scared. when i acquired my truck back in 03 i was told the best i could get from ford credit was 9.9% (too long ago to remember-could have been over 10%) and now i feel i could have been screwed....

i too now owe just over 2 years and it is solely mine...

thoughts anyone?!

hey red, i could be mistaken. i would have to go back and look at the loan papers. i guess 7.9% was just the first thing to pop in my mind.

 

[Maxtor]

Hey Red;

I think Bama is right. I called Red Bluff Ford, just to check to see if we were lied to by Crown Motors, and Red Bluff said that theirs is 7.9%

I think Crown charged us 9.9% because they knew we were going to pay it off on the first payment, so this way that would get 9.9% on the $10,000 dollar balance. This way they at least get $99 out of me. They said that the smallest amount that we could borrow to get the $500 rebate was $10,000 which is not true. Red Bluff said that we could have borrowed $5,000 from them.
7.9% on $5,000 would have been $39.50.
Oh well, Crown was $670 cheaper than Red Bluff, so in the long run we made out ok.
If it costs us $99 to make $500. then that is good.

 

[Big K]

ok. so now i am scared. when i acquired my truck back in 03 i was told the best i could get from ford credit was 9.9% (too long ago to remember-could have been over 10%) and now i feel i could have been screwed....

i too now owe just over 2 years and it is solely mine...

thoughts anyone?!

Refinace, get a better rate on the remaining, or refinace for more $$$ and get some mod $$$$$ to play with