topic Re: is ford credit decent? in Auto Loans

is ford credit decent?

Anonymous — Tue, 18 Nov 2014 19:28:38 GMT

Toying with getting something to replace the beater car (95 Honda)and one that I like is the mustang. I like camaros too but mustangs just a little more. Curious how hard ford credit is to get? They seem to offer a lower rate than my local cu when they have special incentives. I wanted a bmw for a while but that's beyond the budget.

Curious if ford credit is harder or easier than average for approval.

Re: is ford credit decent?

Anonymous — Wed, 19 Nov 2014 00:54:34 GMT

Ford Credit is generally the same as any of the manufacturers finance companies. So much depends on your scores, auto history, down payment, etc to be able to say what your chances are without more info.

Re: is ford credit decent?

Dj4Money — Wed, 19 Nov 2014 01:42:25 GMT

There are no incentives on the '15 Mustang, so I would take the best interest rate.

Start with a CU and have that in your back pocket to help you negotiate interest rates with the dealer and Ford Credit.

Re: is ford credit decent?

Anonymous — Thu, 20 Nov 2014 12:45:16 GMT

As for ford I like the mustang, the focus st, the fiesta st.

I also like the honda fit but im 6 foot 1 so not sure how ill do in these small cars.

Also like some of the kias.

Looks like some test drives are in order.

Re: is ford credit decent?

sccredit — Thu, 20 Nov 2014 17:45:06 GMT

@Anonymous wrote:
As for ford I like the mustang, the focus st, the fiesta st.

I also like the honda fit but im 6 foot 1 so not sure how ill do in these small cars.

Also like some of the kias.

Looks like some test drives are in order.

I am a truck guy myself. My experience with my last Ford (2012 F150 FX2 EcoBoost) was so poor I traded it in with 28k miles and bought a Ram. As for your question about Ford Credit I did not finance my F150 with them but did finance 2 trucks with them years ago (2001 & 2003) and they were easy to deal with.

Re: is ford credit decent?

Dj4Money — Fri, 21 Nov 2014 21:17:06 GMT

@Anonymous wrote:
As for ford I like the mustang, the focus st, the fiesta st.

I also like the honda fit but im 6 foot 1 so not sure how ill do in these small cars.

Also like some of the kias.

Looks like some test drives are in order.

I'm 6'0 3/4. All these cars will work especially if nonbody is sitting directly behind you. Big difference between the Focus/Fiesta ST and the Fit, you can't be serious. The new Fit is a nice runabout, flat floor for hauling items and generally good utility for such a small car.

The Fiesta ST is comparable cargo and passenger space compared to the FIt, but fun to drive is off the scale; some say the best small performance car you can buy period; I tend to agree and if I in a position to get one next year I will do so without hesitation.

The Focus ST is less "tossable"/nimble compared to the Fiesta ST but quite a bit faster, especially with a Cobb or Super Chips tune in it. It's a better performing car than the GTI, only VW loyalist would say otherwise, even the 2015 version is still no where near the ST and you would only get close by spending $3.5K more than a fully loaded Focus ST.

For that you can increase the Focus' power to over 300hp at the wheels and year worth of insurance!

Those are my top 2 cars and I am NOT a truck guy at all.

Re: is ford credit decent?

Anonymous — Sat, 22 Nov 2014 06:16:08 GMT

@sccredit wrote:
My experience with my last Ford (2012 F150 FX2 EcoBoost) was so poor I traded it in with 28k miles and bought a Ram.

Sounds like you had the limp mode issues Ecoboost has had. This is the reason I ordered my Transit in 3.7L and not in 3.5EB.

Re: is ford credit decent?

Anonymous — Sun, 23 Nov 2014 12:52:23 GMT

A friend has just a regular focus with a little over 200k on it and he hasn't had to replace much on it. Just the usual stuff you would expect with that mileage. It's been a great car for him and has never let him down. He's looking into getting an st fiesta so I'm sure to drive it if he does.

One thing I've noticed at the dealers is that ford seems to be willing to negotiate more when compared to Honda at least from my experience. And Toyota seemed to be the worst when it came time to negotiate. Had one salesman tell me that Toyotas always sell at sticker price so they don't have to negotiate.

If i had the money I'd be just like jay leno with hundreds of cars but unfortunately I'm quite a few dollars short.

Re: is ford credit decent?

Anonymous — Sun, 23 Nov 2014 13:11:18 GMT

@Anonymous wrote:
Toying with getting something to replace the beater car (95 Honda)and one that I like is the mustang. I like camaros too but mustangs just a little more. Curious how hard ford credit is to get? They seem to offer a lower rate than my local cu when they have special incentives. I wanted a bmw for a while but that's beyond the budget.

Curious if ford credit is harder or easier than average for approval.

My experience with Ford Credit is four loans since 2000. Purchased demonstrator SUVs, and new. Started at 6.65% in 2000 then started putting $5,000 down and was able to get 0.0% on the next two loans for 60 months then purchased a new SUV for 1.9% for 72 months no down. As to ease to work with... yes! Could not beat their interest! Admit that I did have a proven track record with automatic monthly payments taken out of my checking account which helped at the loan closing for the best rates. Ford incentives on purchasing new vehicles seemed to change very often and that made shopping interesting. Looked at a Mustang ... pretty sweet car. Since I live where we have 80+ inches of snow I let the idea drift through my head and keep on going ... Seems that Ford is reasonable to deal with but as was already mentioned have a good idea on lending (such as a CU) in your mind so a pushy sales person doesn't stick you with some off the wall lender. Good luck and enjoy pursuing a different ride.

Re: is ford credit decent?

marty56 — Mon, 01 Dec 2014 00:34:43 GMT

I have used them in the past and they are good as long as you don't cross them. Also if you can get approved from another souce at around the same rate they offer, it may get your some leverage with the dealer.

Re: is ford credit decent?

Anonymous — Mon, 01 Dec 2014 05:49:14 GMT

Either they were messing with me, or they were really that stupid to try and finance me for a Ford Transit for 7% APR 3-4 days ago. Keep in mind I had an auto score of 725, down payment of 5K, and already a 3.99% approval from my local CU. My DTI is almost nothing, and my income is more than 50k a year. Don't know if they were trying to see if I was bluffing regarding the CU APR, but I walked out and immediately came back with a check in hand from CU. In September I will have the option to refinance with the same CU for a 2.99% as they have a policy for a year membership to be fulfilled beofre giving out the lowest rate. Also have a credit card, a savings, and a small installment loan from them. The reason I was given of the high interest was due to the Transit being a commercial vehicle(just a cargo van). I smelled BS and sprinted.

Re: is ford credit decent?

marty56 — Tue, 02 Dec 2014 00:27:54 GMT

Or the dealer was.

Re: is ford credit decent?

Anonymous — Tue, 02 Dec 2014 01:56:13 GMT

@Anonymous wrote:
Either they were messing with me, or they were really that stupid to try and finance me for a Ford Transit for 7% APR 3-4 days ago. Keep in mind I had an auto score of 725, down payment of 5K, and already a 3.99% approval from my local CU. My DTI is almost nothing, and my income is more than 50k a year. Don't know if they were trying to see if I was bluffing regarding the CU APR, but I walked out and immediately came back with a check in hand from CU. In September I will have the option to refinance with the same CU for a 2.99% as they have a policy for a year membership to be fulfilled beofre giving out the lowest rate. Also have a credit card, a savings, and a small installment loan from them. The reason I was given of the high interest was due to the Transit being a commercial vehicle(just a cargo van). I smelled BS and sprinted.

Congrats on putting money in your pocket ... nice work!!!

Re: is ford credit decent?

Anonymous — Tue, 02 Dec 2014 02:15:47 GMT

@ArmyVietVet wrote:
Congrats on putting money in your pocket ... nice work!!!

Thanks! It definitely felt like an accomplishment, as a trip to the CU saved close to $3k. When I refinance it would shave off more as it would be about $24k to be refinanced after about 10 months.

Re: is ford credit decent?

Anonymous — Tue, 02 Dec 2014 06:25:59 GMT

@Anonymous wrote:
@ArmyVietVet wrote:
Congrats on putting money in your pocket ... nice work!!!
Thanks! It definitely felt like an accomplishment, as a trip to the CU saved close to $3k. When I refinance it would shave off more as it would be about $24k to be refinanced after about 10 months.

Make sure the LTV will be good at that point.