Ford Motor Credit

[chosen4th]

Hello, looking for advice. I Saw someone post here from a couple years ago that they got 0% with ford with a 588.. im low 600s (BK discharge 4 years ago), but good income. I app'ed online and was not approved for anything, but i did not get hit with any inquiries. I dont want to go to the dealership and them run my credit 5 times just to get approved with a 10% loan which I will just wait further. Has anyone worked with ford recently with a lower score to know what to expect?

[dunn2500]

i believe he said he was longtime ford buyer as well, Ford rewards repeat customers, but 0% @ 588 seems really tough even for repeat customer ( maybe perfect auto record but everything else not so much?) as a buyer with low credit scores my whole life until recently i always got railed......but never know i guess

have heard repeat customers get favorable treatment with them....

[Anonymous]

Yeah 0% is a tier 1 rate.  You would be a tier 3 at that score.  I wouldnt even see getting an approval with that score through ford without like half down.  Even then the FI manager would have to pull some strings and send the loan buyer a box of chocolates or something.

[Gladius]

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@dunn2500 wrote:

i believe he said he was longtime ford buyer as well, Ford rewards repeat customers, but 0% @ 588 seems really tough even for repeat customer ( maybe perfect auto record but everything else not so much?) as a buyer with low credit scores my whole life until recently i always got railed......but never know i guess

have heard repeat customers get favorable treatment with them....

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I still find it hard to beleive someone with a 588 score got 0% financing, but oh well.....

[Nola4life07]

New guy here. I recently got a 3.9 with a 595. 

[ridgebackpilot]

I've purchased several Ford vehicles for 0% rates over the years. My son's 2019 Ford Edge currently has a 0% loan; Ford keeps sending us "upgrade" offers with higher interest rates. 

But my scores were a lot higher when I got 0% from Ford Motor Credit. Ford values repeat customers; my relationship with Ford gets me a one- or two-tier bump, but they're not miracle workers. A 588 score won't get you their best rates even if you're a loyal customer.

Promotional interest rates are a terrific way to buy a new car. They're sometimes offered on CPO cars as well. Earlier this year I bought my 2020 Ford F150 with 1.9% from Ford Motor Credit. It was their best rate at the time; they weren't offering 0% on that vehicle because Ford has no trouble selling F150 trucks.

WIth low scores, you'd probably be better off shopping auto loan rates at credit unions until your scores improve.