Regular Contributor
Comet21
Posts: 204
Registered: ‎08-29-2007
Ford Motor Credit

Just wanted to report if it had not been reported already that Ford Motor Credit is BK friendly. I was discharged in June but I was able to qualify for 3.9% financing! You can see my scores from below but they reported my EX at 692!!! I will take it.


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
Re: Ford Motor Credit

Please? I need more info?  What did you do in between time.  Any secured cards? Etc. what was on your reports after the discharge 

Regular Contributor
Comet21
Posts: 204
Registered: ‎08-29-2007
Re: Ford Motor Credit
No secured cards. Not that they are not good, I just never looked into them. Credit report was wiped clean with $0 Balances. I had to dispute a few accounts to be IIB. Plus the judgement that lead me to BK was still reporting . I disputed it and it was removed off of my report but not my DW. I have applied and received Cap1 Platinum and Credit 1. My wife has applied and received Cap 1 Platinum and Rewards, Credit 1, First Premier, and Valero Gas Card. We also reaffirmed our mortgage and auto loan.

Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Valued Contributor
Scupra
Posts: 1,296
Registered: ‎07-12-2012
Re: Ford Motor Credit

Awesome to hear! Congrats on that awesome rate

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
679 EQ FICO 08/2014
674 TU FICO 08/2014
669 EX FICO 08/2014
$14k NFCU Flagship Sig - $14k NFCU cashRewards Sig - $15k NavChek - $6k Barclays Arrival + - $2k Cap1 Quicksilver
Valued Member
hawaii12
Posts: 47
Registered: ‎04-23-2012
Re: Ford Motor Credit

wow that awesome i just in box you


Starting Score: EQ 572 TU 630 EX 637 06/28/12 Discharge Ch.7
Current Score: EQ568 TU 662 EX 629 12/10/12
Goal Score: 780 across the board


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Regular Contributor
Comet21
Posts: 204
Registered: ‎08-29-2007
Re: Ford Motor Credit

@Hawaii I just responded


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


Take the FICO Fitness Challenge
Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012
Re: Ford Motor Credit

I can say from experience they are BK friendly as well. 2 Years post BK 7 I got a truck at 6.9% and then 6 months later got a flex at 1.9%. It helped that I had bought many vehicles from them and never defaulted on those.

New Member
VegasTeo702
Posts: 8
Registered: ‎08-09-2012
Re: Ford Motor Credit

You guys are providing false information. They may have been BK friently to YOU. That does not mean they are to anyone else. You may have had a good down payment or decent amount of income to assist you in obtaining the loan. I was denied credit 6 months out of my BK. For everyone else considering Ford, Id say stay away...

My list of non BK friendly auto loan lenders: Ford,Toyota,Nissan,Kia,Chase,Santander/roadloans,Americredit,Wells Fargo,BofA,Orange co Credit union,TD auto

Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012
Re: Ford Motor Credit

Vegas how far past BK are you? Have you established credit at all since BK like a Credit Card or anything? You are correct that income can play as a factor as well as down payment. When I bought my Fords I had income but I only put $500 down in both instances.

Valued Contributor
Scupra
Posts: 1,296
Registered: ‎07-12-2012
Re: Ford Motor Credit

Everyones situation is different after BK and just because someone gets approved after a BK doesnt mean everyone will. Cap 1 is a bank we all consider BK friendly but not everyone will get approved for an unsecured card right out of BK.. Vegas, I think it is wrong to say he is providing "wrong information" Indecision was approved one month out of BK, I would say that is pretty friendly, wouldn't you? Like mentioned it has a lot to do with what you do with your credit after the BK and income definitely plays a part. Congrats again and thank you for the info

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
679 EQ FICO 08/2014
674 TU FICO 08/2014
669 EX FICO 08/2014
$14k NFCU Flagship Sig - $14k NFCU cashRewards Sig - $15k NavChek - $6k Barclays Arrival + - $2k Cap1 Quicksilver