Ford 0%

[Anonymous]

I'm going to be trying to purchase 2 vehicles from ford relatively soon.  A 2016 explorer and a 2016 f-150.  my scores are in the low 700s.  never bought anything from ford before, but i've had 3 car loans through toyota that were all on time and paid off years early.  i see that on the explorer they are offering 0% financing for 60 months.  which is something i'm interested in.  and i could also put down probably about 10k between the two cars.  

so 2 questions....

1.what kind of score do you need to get approved for the 0% financing??

and

2.  what are the chances of getting approved for 2 vehicles at the same time??

any help is appreciated.  thanks!!    

[settleordelete]

High 600s at least for 0%. And two cars priced from 30 to over 50 thousand each will require a high income as well. I wasn't sure if Ford was gonna finance my purchase of a new F150 in 2011 due to the fact I'd bought a car in 2010 through Toyota Financial services. However the finance manager at the ford dealer pushed it through. As long as you can handle the payment, Ford will package it up for you. Good luck.

[Anonymous]

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@settleordelete wrote:
High 600s at least for 0%. And two cars priced from 30 to over 50 thousand each will require a high income as well. I wasn't sure if Ford was gonna finance my purchase of a new F150 in 2011 due to the fact I'd bought a car in 2010 through Toyota Financial services. However the finance manager at the ford dealer pushed it through. As long as you can handle the payment, Ford will package it up for you. Good luck.

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12 months ago at Acura Financial it was 720+ for the prime offering at that time (1.9%), so I doubt Ford will give 0% to high 600's.

[lincar66]

Ford will give 0% down to mid 600s now if there going to hand you almost 75k at 0% that's another story might be able to just get a nice rate through a credit union

[settleordelete]

Yes, Fords 0% is available for credit scores just below 700 here in Texas. Everywhere else, who knows.

[sccredit]

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@Anonymous wrote:

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@settleordelete wrote:
High 600s at least for 0%. And two cars priced from 30 to over 50 thousand each will require a high income as well. I wasn't sure if Ford was gonna finance my purchase of a new F150 in 2011 due to the fact I'd bought a car in 2010 through Toyota Financial services. However the finance manager at the ford dealer pushed it through. As long as you can handle the payment, Ford will package it up for you. Good luck.

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12 months ago at Acura Financial it was 720+ for the prime offering at that time (1.9%), so I doubt Ford will give 0% to high 600's.

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Acura and Ford have very different qualification standards.  Acura is much more stringent than Ford.  I've seen people in the 640's with 0% 

[gibeon]

Ford has a DIY calculator (pre-qualifier, noy pre-approval) for financing on their site that will give you a reasonable estimate of whether you can get the 0% or what % you can get.

http://credit.ford.com/fg/finance-guide/credit-testrun

[Anonymous]

i went through the motions with this, and it says for me to apply for credit online.  i'm assuming that doing it online though, i would only get pre-approval for one car.  and i would have to do it in person to get approved for two??

[Anonymous]

I know this is a somewhat lazy answer, but call a Ford dealership. Call 3. Call five. One of them will have a finance manager who will answer your questions in two seconds.
I called a few subaru/scion dealerships before I found a guy with a brain and he went into super detail. Tier 1 is x, tier 2 is y, tier 3 is z. Tier 4 was w. But tier 3 and above is what gets 0% financing. And in terms of the 2 loans, as long as your income supports it I don't see why they would bat an eye at all. If you're making 150k and want to Buy 2 focus' for 17 a pop(or whatever they cost), your income supports that easily at 0%. Just threw random numbers out there but I'm sure you get the idea.

I would call a dealer and just ask them. Ask to speak to the finance manager or a finance person, they can pull up the rates if they don't know them by heart. Whether they can tell you what exact fico version they use though, that may be beyond them. In my experience finance/CU ppl have no idea what a auto enh 8 vs 5 is, or in some cases fico 8 vs auto enhanced period.
Good luck, please call and let us know what they tell you. Really shouldn't take more like 10minutes(that's if you have to call 5 dealers)

[Anonymous]

I got 0% down and 0% APR on a brand new Ford in 2014. My score was in the 670s as I recall, but the only accounts were deferred student loans that I hadn't started paying on. And I had just started a business so had no provable income. 

Ford wants to sell cars. Their lending standards are very, very lax.