Any idea when 2018's will be zero percent?
10-30-2017, 06:33 PM
#21
Same here! Manufacturer 0% financing usually comes with little to no discounts.
As an example my '17 F150 XLT window sticker was $49,800. Leaving tax, tag and title and down payment out of the equation.
Sticker price: $49,800
Interest: 2.9%
72 months
Total cost: $54,318
Interest paid: $4,518
Sticker price: $49,800
Interest: 0%
72 months
Total cost: $49,800
Interest paid: $0
Discount and incentive price: $39,800
Interest: 2.9%
72 months
Total cost: $43,411
Interest paid: $3,611
Going with 0% interest costs $6,389 more than taking the discounts and incentives and paying higher interest.
I went a step beyond that and received around an extra $1,200 in incentives for going with Ford Finance at the stupid high rate of 6.9% (Nuts considering my 859 FICO). The discounted price I paid not including tax, tag and title, was considerably better than the $10,000 off listed above. 30 days after buying the truck I refinanced at my credit union at 2%.
In the end I saved a lot more by not going with the 0% financing offer.
As an example my '17 F150 XLT window sticker was $49,800. Leaving tax, tag and title and down payment out of the equation.
Sticker price: $49,800
Interest: 2.9%
72 months
Total cost: $54,318
Interest paid: $4,518
Sticker price: $49,800
Interest: 0%
72 months
Total cost: $49,800
Interest paid: $0
Discount and incentive price: $39,800
Interest: 2.9%
72 months
Total cost: $43,411
Interest paid: $3,611
Going with 0% interest costs $6,389 more than taking the discounts and incentives and paying higher interest.
I went a step beyond that and received around an extra $1,200 in incentives for going with Ford Finance at the stupid high rate of 6.9% (Nuts considering my 859 FICO). The discounted price I paid not including tax, tag and title, was considerably better than the $10,000 off listed above. 30 days after buying the truck I refinanced at my credit union at 2%.
In the end I saved a lot more by not going with the 0% financing offer.
10-31-2017, 04:57 AM
#22
Senior Member
10-31-2017, 08:32 AM
#23
Junior Member
Join Date: Oct 2017
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
I'm sorry, but those numbers you provided are old. Most credit reporting institutions go from 250 to 900 now.
Both of my Credit Unions came back with 859 from Equifax. Ford Credit confirmed 859 from Equifax and 851 from Experian.
Here's a scan of part of the document Brandon Ford sent me after I applied for financing. Most people don't know about the new higher credit score limit, because most people don't have a score higher than 850.
Both of my Credit Unions came back with 859 from Equifax. Ford Credit confirmed 859 from Equifax and 851 from Experian.
Here's a scan of part of the document Brandon Ford sent me after I applied for financing. Most people don't know about the new higher credit score limit, because most people don't have a score higher than 850.
10-31-2017, 09:49 AM
#24
Senior Member
11-01-2017, 10:31 PM
#26
Senior Member
The following users liked this post:
RedsRock302 (11-01-2017)
11-02-2017, 08:09 AM
#28
Senior Member
It's never advantageous to take zero percent financing from Ford Credit (at least in the US). When they offer it, they remove other rebates that equal, or exceed, the value of the zero percent rebate. It is always best to take the REGULAR finance rate, accept the Ford Credit rebates, then IMMEDIATELY (as in same week) refinance the truck with a credit union for a much lower rate. 2.9% is probably high, checkout PenFed and others.
As to WHEN they will offer zero percent on 2018 F-150s, no one can predict that. Depends on inventory, depends on Ford Credit's need to get more loans, ...
As to WHEN they will offer zero percent on 2018 F-150s, no one can predict that. Depends on inventory, depends on Ford Credit's need to get more loans, ...