Who are you using for financing?

[FrankThompson]

I haven't bought my '22 yet, but I will do what I did when I got my '17. If there are any rebates tied to Ford financing, I will get that (at the highest rate to get the most rebates). I will then drive down to my local credit union and refinance for 2.25%.

At least in Florida this is completely legit and if I remember correctly there were not a lot of extra fees to refinance. It was actually my dealer who told me to do this since we walked in expecting to just use the cu directly. At the time when I got my '17 it saved me around $5k I think.

The rate with my cu is still 2.25 for 72 months.

If no rebates are tied to it The dealer also offered .9% for 36 months or 1.9 for 48 months via Ford financing. I'm considering those but I think I would rather pay for 72 months and put the difference into investments where I can make more money than the interest on the loan.

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[Bannerman]

Cash.

 

[UNIKRN150]

I did a lot of research into my financing options and found a lot of positive input about PenFed Credit union.

So I opened an account and shifted my finances to make PenFed my “primary” and ran all my finances through them for several months to establish a good financial track record in anticipation of my Truck purchase.

Once my truck was built, I applied for an Auto loan with them and they turned me down FLAT!

Since I have ALL my Credit Accounts LOCKED (Equifax, TransUnion, etc…) NOBODY can run an inquiry without my permission and nobody ever asked.

I was STUNNED! I have “Excellent” credit! I had a $20K cash down payment!

I had TENS of THOUSANDS of dollars in my PenFed accounts...

So when my truck arrived, I decided to see what kind of rate I could get from Ford Motor Credit KNOWING that they were only offering the 0% on their short term loans. I wanted a 60-month to keep my payments down and that loan didn’t qualify for 0%.

I was completely blown away when the Dealership told me that they got Ford to approve my 60-month at 0%! I don’t know how the hell they did it… but I immediately added the Premium Care ESP to the loan for an extra $30.00 a month. I never even gave the Dealer a chance to give me his “ESP Sales Pitch” and he seemed a little bummed… lol

Moral of the story… STAY AWAY from Pentagon Federal Credit Union!

BTW... it took me about an hour to approve permission for Ford Motor Credit to get access to my Credit Reports because Ford contacted me and asked. LOCK YOUR CREDIT REPORTS! ...it's your "right".

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