If You are financing to get the rebate , then paying it off , Don't wait for the first payment notice to pay it off.
I waited for the first payment to come in the mail, and will have to pay about $200 in finance charges .
Granted, I did get the finance rebate , but why pay an extra $200 if You don't have to.

 

I just refinanced mine today. 805 credit score and the best the dealership I went through would do was 5.89%. I got 1.99% through my local bank. Saved my $1250 for signin with ford and ditched them. Seems to me it would make more sense for ford to give a better rate to people with excellent credit. Make a few more bucks on the interest but I guess they're not interested in anymore of my money.

 

Could be that the dealer you went through just wanted to stick it to you. I got 2.84% through Ford, can't beat that by much if at all around here, credit union, bank, or otherwise.

 

They offered me 3.4% through an outside source... Best they would offer from ford was 5.89%.

 

You still would have paid SOME interest (to your new lender) if you had paid off FMC earlier, but not as much.

The difference depends on what your old (FMC) and new (other source) rates are/were (%).

 

I bought my truck 5 days ago and financed through ford and received $750 rebate. I went to my credit union this morning to refi the truck and they said I need to wait 6 weeks until I get the title.

How are you guys refinancing so quickly?

 

I would also like to know as I also have to wait. I went yesterday and I was told that I can start the process but the refi would not be finalized till I have received the registration/plates which in California take 4-6 weeks from the purchase date of vehicle. This really lags as it is possible I might have to make the first payment if for some reason there is a delay in me receiving the registration/plates.

 

I don't think you will get the title until you pay the loan off from Ford.

 

I refinanced my truck through my CU days after I bought it with 1500 off for FMC loan. I was told that I had to make the first three payments to FMC before I could refinance. I called the CU and viola! A few clicks on the ol' puter and I was refinanced, no first three payments, no penalty, dropped three + points of interest, got a payoff notice from FMC about a week later. CU loan lady took care of everything!

 

My credit union told me to wait until you get the payment book, then bring it in. I've done this before as well, you have to wait at least a week for the account to get set up. Once you have an account number and a payoff amount you can refinance.