Refinance
Senior Member
Joined: Feb 2014
Posts: 539
Likes: 72
From: Central Valley of Ca
No need to refinance mine ....
I wasn't going to use Fords plan because my bank gave me 3% which I thought was as good as it gets ..... Well I was wrong Ford gave me a 1.3 % thanks to my high credit rating .... had 3 sales guys tell me they had never seen a rating as high as mine was .... I owe it to my wife she takes care of that stuff. ..... 240.00 a month ..... not bad .. I guess
Last edited by GotHonks?; Aug 1, 2014 at 03:34 PM. Reason: spellin
Senior Member
Joined: Feb 2012
Posts: 615
Likes: 27
I just refinanced mine finally on a Tuesday. Ford credit was a PIA this time. Bought the truck on 30june went to credit union on 3 July, they mailed the check that day. Ford said they did not get the check to the 18 th BS to that. So Ford sent the check back saying check was short of pay off. The bastards sent it back to credit union. So we have to start all over now the pay off is more thanks to Ford credit. So I paid $20 to Fedex check to Ford again as payment was due 30july. Well all said and done 72 months at 1.9% vice 72 at 5%. My finance guy said just make 5 payments, well I made one final payment.
Last edited by jaconn02; Aug 1, 2014 at 04:37 PM.
Member
Joined: Jun 2014
Posts: 63
Likes: 5
From: Northern Virginia
I didn't read all of the posts, so this has probably already been said, but .. wow what a bunch of bad information some of you have gotten!
I financed a part of the truck through Ford to get the $1000 rebate it allowed. They required a minimum of $7,500 for the financing. We did a bit more but that's not the main point. The main point is I got the $1000 rebate for the financing and I made a grand total of 0 payments to Ford Credit myself. We refinanced immediately through USAA and they cut a check over to Ford. I probably ended up pay $30 in interest or so .. but that's it. I went from a ~3.9% rate to a much much lower rate with USAA.
Long story short.. refinance immediately. Just call Ford Credit (or you'll have it in the mail) to get your account number -- then get the 10 day pay off. Get the address for the Payoff and get your bank/lending institution to fire off the check & info. Your loan will be paid off to Ford and your new bank/lender will take over the lien on your title and you'll pay them from there on out at your lower interest rate. Easy as pie. Better for your wallet.
If for any reason you want to know more or have questions feel free to PM me. It's really just that simple though.
I financed a part of the truck through Ford to get the $1000 rebate it allowed. They required a minimum of $7,500 for the financing. We did a bit more but that's not the main point. The main point is I got the $1000 rebate for the financing and I made a grand total of 0 payments to Ford Credit myself. We refinanced immediately through USAA and they cut a check over to Ford. I probably ended up pay $30 in interest or so .. but that's it. I went from a ~3.9% rate to a much much lower rate with USAA.
Long story short.. refinance immediately. Just call Ford Credit (or you'll have it in the mail) to get your account number -- then get the 10 day pay off. Get the address for the Payoff and get your bank/lending institution to fire off the check & info. Your loan will be paid off to Ford and your new bank/lender will take over the lien on your title and you'll pay them from there on out at your lower interest rate. Easy as pie. Better for your wallet.
If for any reason you want to know more or have questions feel free to PM me. It's really just that simple though.
Last edited by crypto; Aug 1, 2014 at 07:20 PM.
Senior Member
Joined: Feb 2012
Posts: 615
Likes: 27
I didn't read all of the posts, so this has probably already been said, but .. wow what a bunch of bad information some of you have gotten! I financed a part of the truck through Ford to get the $1000 rebate it allowed. They required a minimum of $7,500 for the financing. We did a bit more but that's not the main point. The main point is I got the $1000 rebate for the financing and I made a grand total of 0 payments to Ford Credit myself. We refinanced immediately through USAA and they cut a check over to Ford. I probably ended up pay $30 in interest or so .. but that's it. I went from a ~3.9% rate to a much much lower rate with USAA. Long story short.. refinance immediately. Just call Ford Credit (or you'll have it in the mail) to get your account number -- then get the 10 day pay off. Get the address for the Payoff and get your bank/lending institution to fire off the check & info. Your loan will be paid off to Ford and your new bank/lender will take over the lien on your title and you'll pay them from there on out at your lower interest rate. Easy as pie. Better for your wallet. If for any reason you want to know more or have questions feel free to PM me. It's really just that simple though.
I have done this 3 times now, this is the only one that backfired. They Ford also said the original check had a restricted endorsement, which is BS. They just wanted the interest. I normally use USAA, but my credit union beat them by a % point.
Senior Member
Joined: May 2014
Posts: 1,110
Likes: 135
From: Mtns of AZ
Sold my Nissan today, so Ford Credit loan will likely be paid off in full vs refinanced at lower APR. Figured I'd wait until 1st payment bill arrives showing loan number (delivery 2 wks ago) but no-show yet. Already checked my bank rates but unsure what I'll do. Looking for "easy button" to clear debt of any substance...
