topic Re: Ford Fresh Start Program in Auto Loans

Ford Fresh Start Program

Anonymous — Fri, 13 Dec 2013 23:15:31 GMT

Hello everyone I'm new here and have a question. I have a bad credit problem. I have a credit score of 547 last time I checked. I saw Ford had a fresh start program to help those with bad credit. I applied the guy called me and said it looks like I may be approved he asked what car I was looking at out of the inventory for fresh start I said it doesn't matter as long as it runs and is dependable but would like something bigger if possible for my job he asked when I could come in then asked me if I have 1500 down I said I can make some calls and try and get that he asked if I had a trade in I said yes but that it was a 93.. he said he can have it checked out but that I won't get much. Anyways my question is. Is there anyway any chance I can get approved without down payment. My first auto loan I lost due to a collision with a drunk driver that totalled my car. Then I had a new loan and that one got repo due to being laid off. Other then that I almost paid of the first one on both was never late.

Re: Ford Fresh Start Program

Anonymous — Sat, 14 Dec 2013 05:12:37 GMT

Doubtful but if they do make sure it's not added onto the back end causing negative equity,

Re: Ford Fresh Start Program

Anonymous — Sat, 14 Dec 2013 13:16:47 GMT

It's ok I'm on phone as well. Can they actually do that and add it to the final price? I didn't know they could do that. Good to know

Re: Ford Fresh Start Program

Anonymous — Sat, 14 Dec 2013 13:18:14 GMT

When you say add to the end your talking about down payment?

Re: Ford Fresh Start Program

Anonymous — Sun, 15 Dec 2013 04:33:33 GMT

@Anonymous wrote:
When you say add to the end your talking about down payment?

Sometimes if there is not enough equity in a trade, the dealer would add the difference onto the back of the new loan. The new loan would then include a larger amount - negative equity