They talked me into the $750 rebate but when the statement from Ford Credit came it was $200 higher than when I signed the paperwork at the time of purchase plus a credit check fee.
That was different than the original deal that was made of paying 3 payments and getting charged interest on the three payments which I was ok with. Since the finance guy at the dealership lied to me I paid it off right away.
Then came the fun of getting the title from Ford Credit. It took 3 phone calls and 6 months.

 

Wow. I had no issues like that at all. I agreed to borrow $8k and that's how much the loan was. I requested a payoff amount and paid that immediately. Turns out, FMC received in three days earlier than the target date and they refused me about $6. Then I got the title release, and that was all.

I'm trying to figure out a way that they could have forced me to make 3 payments. I just made sure it was a simple interest loan with no prepayment penalty. No agreement with the dealer was going to change that, and there was certainly no way for the dealer or anyone else to take back the $750.

 

I waited all of 4 days before refinancing. They gave me the whole song and dance about refinancing after 3 months. Yeah, I didn't buy that.

I also thought it was really fishy that my dealer didn't bother shopping around for me. All they did was go through ford credit.

 

So how did you refi in 4 days? You got a check from another lender, but how did you apply that check to your Ford Motor Credit loan? Did you already have an account at Ford or did you make payment directly at the dealer?

Just curious.

 

To get the $750 rebate they have to go through Ford Credit.

 

Dealer does not "get the $750 rebate". Dealer gets paid incentives to drive customers to Ford Credit. If you refinance within 90 days, dealer doesn't get the incentive.

You can buy on Monday and refi on Tuesday and you still keep the rebate you already got credit for.

 

i dont understand this whole process.. why run the same truck loan twice on your credit? Why not just finance through a better bank in the first place?

The rebates are always stronger with outside financing... like 5k off with outside, vs like 2k with ford credit at *whatever* rate.

 

Ford Credit often has deals, like zero percent financing. Take that deal, and you give up a bunch of other rebates. That is true.

Take Ford Credit with no special rate, i.e. their normal financing. They will give you ALL the rebates AND a rebate from Ford Credit - often $750 - $1,250. THAT ADDITIONAL REBATE is why you take the Ford Credit financing and then refi tomorrow.

This has been discussed in literally hundreds of threads on the forum for years/

 

How so? I was unaware of an outside lender offering $5k in rebates. There are no cash incentive programs that I'm aware of right now either. You either get $750 (or whatever) by financing through Ford or you don't get the $750.

I negotiated the price and then got all applicable rebates from Ford, which were $3250 when I bought my truck. One of those rebates was a $750 rebate to finance through Ford Credit. There were not extra rebates if I chose to not finance through Ford. If I were borrowing most of the purchase price, it wasn't a good deal -- I would certainly have been better off finding a lower rate. But since I was paying off immediately, it lowered the price by $750.

 

So all that *** pain to save 750 dollars.

sorry?