Starrbuck

So how does that affect the customer? Does the dealer come back to the buyer and get the money they lost??

Kipp

not as far as I know. it's on them. that's why some dealers won't do the full rebates that are available. they don't want to have to pay for it if anything changes.

BCMIF150

I wish we could make this a sticky since it comes up so much.

Like mentioned above, you need to read your contract to be certain of a early payoff clause, but most don't have this.

It's all about the contract. NOT what the dealer tells you!

Brett K

The dealer treated me well and i have no desire to screw them over. I will wait 3 months.

ruff rider

Same here. When I'm treated the way I was by my dealer the few dollars I would save if I refinanced now isn't worth it to me. When someone takes care of me I will return the favor.

Winsurfer76

In my case, refinancing saved me over $3000 in interest. I am all for good customer/dealer relationships, but I have to take care of "me" first. Had they matched or even came closer to my CU rate, I would have stayed with Ford.

O.C.D.

X2 - paid off Ford Credit in two weeks and got an even lower rate through private bank.

My only issue is waiting for my GAP from FORD. Has anyone else received theirs after early payoff?

ruff rider

You save $3000 over the WHOLE loan not the four payments Ford ask you to make before switching over to anything you want.

tufcat

Here you go, genius.



Contracts may vary from state to state... Everyone should read the fine print before you sign, there is some real interesting stuff in there.

FYI, I knew what "my" contract's prepayment terms were, because I read it before I signed my name. My salesman told me three months too.

Crab Balls

Here's something to think about. Look at an amortization table for your loan to see how much money you are throwing away in three months as this is where 98% of the interest is. As an example, if you are paying $500 a month chances are you are paying about $1,400. So, any "rebate" you think you had is wiped out. Like I said before, set definite parameters when you deal with the dealer as they have some very tricky math to try to suck you in.