Preg

I bought my truck tonight and financed thru Ford to get the $1000 rebate. I have a credit score of 799 and they still charged me the 10.99% APR. Their story was that I should pay the monthly amount for 3 months then re-finance. When I asked why pay for three months, they told me that if it did not remain with Ford Credit for 3 months they would not get there rebates back. Is this true? Why should I care?

Thanks

BP

FinallymyF150

With your credit score why not get preapproved at a bank. Thats what I did. I got the 3500 discount on the truck since it was like a cash sell to them. Ford was reallty crunching some numbers bc they really would have us ford Financing. They counld hang with my deal from the bank. Duh.

SinCityFX4

Dude.....

Can we say refi?

FXDWG

799 ! Refinance that loan at a local bank or credit union Monday.

iowaredneck

Refinance today and don't wait! Who cares if they get their rebates back, save yourself a ton of $$$$$$$$$$!!!!

wxmcpo

The dealership doesn't care about you or getting you the best rate possible. As a matter of fact they actually make more if they can get you to sign a contract with a higher finance rate. I say refinance that thing first thing Monday morning.

Grrrowler

Re-fi ASAP. I've heard the story of the dealer making money from their loans but only if the buyer keeps it for 90 days. I think it's BS but even if it's true you don't owe the dealer anything so why pay extra interest for 3 months?

navytrev

damn you got ripped. I had a 710 and it was my first vehicle to finance, only thing i had before was a motorcycle and i only had that loan out for about 8 months. im sittin at 4.9% for 72. Id re finance asap unless they have some kinda thing in the contract that states you must pay for a certain period of time or somethin. Or you could just pay all of it but like 20 bucks for your first payment, then for the last two pay ten bucks plus the few cents for finance charges!

Kattumaram

.....or you might try something a little different: Save your money and pay cash for the truck, the way I do. If you have to borrow to buy a "new" truck, then you really can't afford it.

Fueler

Call Ford Credit direct at their service number (not the dealer) and tell them you either get a lower rate or you're gone. Ford Credit is much more likely to adjust the interest than the dealer is. The dealer is trying to maximize his commission on the financing... Ford only wants to sell the truck.