GreenSC4x4

Hey guys,
I bought my truck in January of this year in Ontario Canada. The deal at the time was you get all the good rebates if you finance with Ford credit. So I thought I would do what alot of you guys stateside do and refinance after purchase for around 2-3% somewhere else. What I found out after was it is quite different in Canada! With perfect credit and only needing to finance 28000 on a new truck with a sticker price of 46500 the best the banks give here are 6-7 %. Just wondering if anyone has refinanced in Canada for a low interest rate somewhere in specific? Thanks

Steelhead 6.2

2.99% outra Vancouver area with one of the banks auto group financing. A buddy of mine just sealed 1.99% on a new Explorer through Ford financing. 6-7% is robbery!

Ricktwuhk

1.99% likely came with giving up a Ford Credit rebate which they offer only if you take the higher rate. IN the U.S. people take the high rate and the rebate then refi immediately.

zc1

I went with Ford Finance as well, and got a rate of 0.99%. I ordered towards the end of March (arrived end of May). I still got all of the existing rebates at that time. What rate did you get with your Ford Finance deal?

GreenSC4x4

I bought a 15 off the lot and got 10750 in rebates plus employee pricing at 4.59 %. Not too bad, I just thought other places would offer alittle better rate.

little nail

Refinanced my 2013 F150 through my credit union for 1.5% Paid it off. Going rate now is 1.99%. This is in Ohio, not Canada.

Glenn S

8 Months ago I got 1.8% at my Credit Union(the lowest they offered on a new vehicle)

dagooaz

I think the issue you're having is you are now subject to used car rates. If you refi in the first 2-3 months, the banks still consider the vehicle new. It's now been 9 months, many manufacturers have 2021 models out, so they're giving you used car rates, which are higher. That's my guess.

Flamingtaco

Those higher rates are for used refinancing. If you wait too long, a bank may force a used refinance.

dave-p

I got my new 2020 F150 @ 1.99 % through Ford Credit along with the rebates (ford employee discount and a delivery discount) (Ottawa Area)