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Old 02-17-2010, 10:48 AM   #1
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Default Just got off the phone with Ford Financing....No early payoff penalty!!!

No early payoff penalty.....can't wait to refinance.
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Old 02-17-2010, 11:46 AM   #2
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becareful when you refinance though! I was going to finance through Ford to get the extra $1000 rebate they were offering..but there is a catch. If you take the ford financeing just to get that $1000, and then pay off ford and try to refinance with somone else...the rate you are going to get is a "used car" rate b/c your truck isnt new anymore..its already been titled. so in the long run oyu might end up paying more since you cant get a new car rate anymore... jsut something to think about.
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Old 02-17-2010, 12:06 PM   #3
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No early payoff penalty.....can't wait to refinance.
Not sure where you're from, but in Arizona it is against the law to have an early payoff penalty on a loan.
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Old 02-17-2010, 12:33 PM   #4
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becareful when you refinance though! I was going to finance through Ford to get the extra $1000 rebate they were offering..but there is a catch. If you take the ford financeing just to get that $1000, and then pay off ford and try to refinance with somone else...the rate you are going to get is a "used car" rate b/c your truck isnt new anymore..its already been titled. so in the long run oyu might end up paying more since you cant get a new car rate anymore... jsut something to think about.
depends on where you refinance through. My credit union allows up to 6 months and still gives new car rates
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Old 02-17-2010, 12:50 PM   #5
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No early payoff penalty.....can't wait to refinance.
FYI the dealer is penalized if the loan is refi in the first three months, after that all clear. That is just in case you like your dealer and don't want to adversly affect him.
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Old 02-17-2010, 01:03 PM   #6
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becareful when you refinance though! I was going to finance through Ford to get the extra $1000 rebate they were offering..but there is a catch. If you take the ford financeing just to get that $1000, and then pay off ford and try to refinance with somone else...the rate you are going to get is a "used car" rate b/c your truck isnt new anymore..its already been titled. so in the long run oyu might end up paying more since you cant get a new car rate anymore... jsut something to think about.
My banker has agreed to finance with new car rates. I checked prior to purchasing my truck and she said no problem.
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Old 02-17-2010, 01:22 PM   #7
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FYI the dealer is penalized if the loan is refi in the first three months, after that all clear. That is just in case you like your dealer and don't want to adversly affect him.
This is what my dealer told me as well. I just bought my 2010 XLT a couple months ago. He said I had to wait 90 days then I could refinance. I work for a Credit Union; I checked with the loan people and they told me that I could get the current rate for new autos after my 90 days were up. YMMV
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Old 02-17-2010, 02:22 PM   #8
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My banker has agreed to finance with new car rates. I checked prior to purchasing my truck and she said no problem.
Then its def worth it! I've just heard a few stories of ppl not checking before hand and thinking that they are saving $1000 going through Ford, and they'll pay it off in like 3 months, and come to find out they are stuck with like a 6.9% used car finance rate!

Glad to hear though that your getting a good rate!
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Old 02-17-2010, 02:32 PM   #9
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FYI the dealer is penalized if the loan is refi in the first three months, after that all clear. That is just in case you like your dealer and don't want to adversly affect him.
I guess there is nothing in writing about the dealer penalty for loan payoff less than 3 months. I didn't see anything like that on my loan, but I got the $1,000 credit for Ford Credit Financing. And now I'm fixin' to pay it off, one way or another because 8.99% interest is not in my best interest.
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Old 02-17-2010, 03:04 PM   #10
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Default screw the dealer

Guys do you really care about the dealer. They are all alike. If I was an idiot and paid the $45000 MSRP, they wouldn't give a damn. I don't give a damn. They will be o.k. I will refinance with new car rates ASAP, and everyone else should too.
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Old 02-17-2010, 03:04 PM
 
 
 
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