TRBOFX4

The finance people at my dealer said that I would be back charged the $1000 rebate if I didn't make at least 4 payments. My credit score was over 800 and they gave me 7.99% which is ridiculous. The day after I bought the truck I read on this form that I was not liable for the $1000, and that the dealership lied to me. The truck was refinanced by the end of the week, and I didn't care what the dealer lost (the more the better as far as I'm concerened) If they had been up front with me, I would have made the payments if they would split whatever they would have made with me. Did I mention I HATE being lied to?

Tractorhunter

Thanks for all the replys! That answered my question and then some. I guess I will take the loan thru Ford Credit and play it by ear to pay back immediately or wait 3 months.

BLU4TJW

How close to MSRP were you? Traditionally, you can choose really low financing rate and close to full MSRP or generous cash back/rebates off MSRP and marginally higher interest rate offer.

Not too often, if ever, can you score both. Although there'll always be guys who say they did.

flixden

It should be "close to invoice and a good interest rate" vs. "$1,000 below invoice (minus any other incentives) and a higher rate".
I don't think you should pay anywhere near MSRP regardless of the interest rate or financing rebate.

BLU4TJW

There are still those who walk in and pay what some predators ask.

Still, your first point explains what I meant much better.

gunfreak00

I guess I was lucky to have a customer who retired from Ford and got me an X plan. Granted you can deal down to that price without it but it saves you the fees and a lot of hassle. I got a loaded 2011 Screw 4x4 Lariat for almost 10,000 off sticker with year end deals. I did the Ford finance, got the grand and financed at 2.9%. They originally offered 4.9% but I had 3 trucks in mind and started to walk so they dropped the rate. They all get a percentage of the finance so try to knock it down in your favor.

If you look at it, if you finance for 4.9% and get a grand, it is the same in the long run as financing for 2.9%. But a grand and 2.9% even better and I don't need the hassle of refinancing. If I keep the financing there and they get theirs, they will be more likely to help you out in the long run if you have issues with your truck.

Nitro83

I got $3500 X-Plan,$1000 Ford Credit,and Talked them down $2000. It was like $5500 below MSRP not counting my trade in which they gave me like $2200 over what i owed.

69qcodeelim

Just got off the phone w/Ford Motor Credit. I was told there is no penalty for early payoff. I'm in PA. It may differ from state to state depending on the laws in that state. I made one payment at their insane 6.49 rate for 5 years (to get the 1K rebate) and just refinanced through my insurance company at 3.29 for 4 years. I was approved over the phone and while on the phone giving the agent my info. Totally painless (wish it had been that way at the dealer). A finance manager and sales manager at one particular dealership tried to tell us that we had to make 3 or 4 payments or we would forfeit the rebate. That was an out and out lie and they knew it. The finance manager where we purchased the truck knew we had no intention of keeping the loan with Ford. He couldn't wait to get us out of his office (why waste his time when his lunch was getting cold I guess). I'm saving nearly 2600.00 in interest with my new rate. Thats a lot of gas for my truck! I'd advise everyone to check w/their insurance company to see if they have financing. Our local banks couldn't touch the rate I got.

ViolentG

I didn't know about charging the dealer back until I read it on this forum but even if I did I don't think I would have done it differently. 3 months of interest was probably only about $180 but I'd rather it be in my pocket than Ford Credit's.

Negotiating a price on a new car is so difficult and stressful (with their pre- printed "documentation and filing fee") I refuse to feel sorry for Ford charging the rebate back to the dealer. Plus the finance guy wasn't exactly honest with me saying I had to make 3 payments.

wyoroller

It really comes down to a matter of trust and attitudes doesn't it? My dealer was honest about the incentive and the results of early payoff. He also described how to minimize interest payments by making some early principal only payments. So I'll get the incentive with minimal cost and they won't be dinged for an early payoff.