Hefeweizen

I'm, likely, going to purchase a new F-150 on Saturday. I have it narrowed down to two different trucks. I'll take them for a test drive and decide. My question is about financing. I intend to pay cash for the truck. The sales guy, who quoted me a price, said that was without a $1,000 dollar rebate for financing it through Ford Credit. He said most people will use Ford Credit, get the rebate, make a few payments, then pay the truck off. Is there a penalty for paying off early?

It didn't occur to me until after I had talked to the sales guy. If there is a penalty for paying off early, and it's more than $1,000, I'm not really saving any money.

BCMIF150

No penalty and you can pay it off before you make the first payment.

antoniodef

iTrader: (1)

+1.

Hefeweizen

Awesome. Thanks guys.

Ricktwuhk

Pay it off within days. Dealer gets a bonus if you wait 3 months, but don't.

ifallsron

It's a sad effort by Ford Credit. Did it most recently on a new Focus. Already had check in hand for payoff but went through the hoax to get the discount.

Hefeweizen

These are the two trucks I have it narrowed down to. I'll likely go with the first one. The only real difference is the second one has more electronic bells and whistles on it. Sales guy quoted me 36,800 on the first one. That's without the 1,000 rebate I mentioned. So with that rebate it would be 35,800. I didn't ask a price on the second one.

http://www.bobhurleyford.com/auto/ne...7-ok/15330572/

http://www.bobhurleyford.com/auto/ne...7-ok/15330575/

PATruck83

For the little bit of price difference my vote goes to the silver one.

Also if it were me and I wanted to pay cash, I'd tell them that $1k was up to whether or not they wanted to sell that truck to you that day or not.

Ricktwuhk

Invoice, not MSRP, is what you should be working from.

marshallr

Do what works best for you, but on my last 2 vehicles I could have paid cash. Instead I chose to make the minimum down payment and borrow the money. With .5%-2% interest rates I'd have lost much more money from my investments than I paid the bank.