Me:1, Ford credit:0
05-24-2013, 07:15 PM
#71
and most likely what ever FORD CREDIT actually APPROVED you was much lower...
you see, the dealer can actually "add a few points" on to that . . .
If you pay off before three months, they loose the "added points", PLUS a small spiff for the dealer getting a credit app.
In my case, my rate ended up being 5.62%, however, I actually seen the paperwork on the desk when the finance manager left for a second, and it was 3.15%. so the finance manager/dealer actually bumped the rate up
2.47%, so all that would be profit to the dealer had I kept the loan.
The 'you must wait three months or you will have to pay the rebate back' myth is so bogus...been covered here tooooo many times (but I don't guess anyone uses the search function any more).
you see, the dealer can actually "add a few points" on to that . . .
If you pay off before three months, they loose the "added points", PLUS a small spiff for the dealer getting a credit app.
In my case, my rate ended up being 5.62%, however, I actually seen the paperwork on the desk when the finance manager left for a second, and it was 3.15%. so the finance manager/dealer actually bumped the rate up
2.47%, so all that would be profit to the dealer had I kept the loan.
The 'you must wait three months or you will have to pay the rebate back' myth is so bogus...been covered here tooooo many times (but I don't guess anyone uses the search function any more).
I would not be surprised if my rate was much lower and he raised it. Not trying to brag but both my wife and I have credit scores in the 800s.
Last edited by dayday; 05-24-2013 at 07:18 PM.
05-25-2013, 03:08 AM
#72
Bought a 2013 platinum 2 weeks ago, put $30k down and the rest on Ford credit for the $1500 rebate. Finance guy flat out lied to my face telling me if I refi'ed before 3 months that Ford would come after me for the rebate 
. I didn't even bother to tell him he was full of crap. The interest rate was a laughable 6%. Yesterday I refinanced at my local credit union for 2.99. Ford had my business for all of 2 weeks.
Moral of the story to Ford, offer a reasonable rate or lose my financing.
. I didn't even bother to tell him he was full of crap. The interest rate was a laughable 6%. Yesterday I refinanced at my local credit union for 2.99. Ford had my business for all of 2 weeks. Moral of the story to Ford, offer a reasonable rate or lose my financing.
Ford credit should have been 1.85 % 
but Credit Union should have been 1.9%
05-25-2013, 04:50 AM
#73
My dealer told me if I refinance before 3 months then ford removes rebates. What a joke. I even asked where that was in writing and he said "it isn't, it's just fords policy" wow... Just wow.
