rrp0968

You can refi as soon as FMC issues an acct number. I did it with mine back in December. Financed with FMC and called about a week later to get my acct number and payoff. Took that info to my CU and refinanced through them.

Pretty simple process.

And....the fact of the matter is.....if FMC Credit would match what my CU offered....I would have left it with them. Now.....they are going trough all this effort processing paperwork....giving the $1000.00 Rebate and they are only making about a weeks interest.

Just my .02

RRP

LRBMT

Interesting. My salesman said minimum was $10K and the three payments and 36 months. Then the finance guy tried to stick me with 48 months. Got the loan for 7%.

I don't mind giving money to someone, but I hate to be lied to, or at least not told the whole truth. If they had said if you wait three payments we get money back from Ford Credit and we would appreciate you doing that, I probably would have agreed.

Now I am wondering if I shouldn't just pay it in full the first payment. Plus I see my $4K trade in is on the lot for $11,498. I realize they have to make money but don't try to make it all off me.

modiecast

Wrong...The dealer does not get charged back the $1,000 rebate. Check your facts. They do loose the reserve that they would have got if you held the loan three months, but that's money to the dealer you never knew about anyway.

breadeater

I just factory ordered a ford 2 days ago. Here's all the info I received throughout the process. First off the salesman told me(under his breath) I can literally walk in the day after I set up financing and pay it off. There is no penalty for doing so. Ford Fin doesnt want ppl doing it cuz they lose their kickback. My main worry is this: I asked "when do I get my finance rebate?" and the finance guy said 3-4 weeks after the truck arrives from the factory. Is there any way to apply the finance rebate straight towards payment for the truck or do I have to wait for it in the mail? If I wait for it in the mail then they could potentially stop the cheque or skim some BS fee for paying off the financing early. He said while I was in his office that I had to make 3 payments and had to borrow a minimum of 9.5k - 10k (odd that there's no official amount and others have reported diff amounts).

What I really want to know is how did it go down when you all went in to pay it all off early? Did they try to tell you you couldnt and threaten to not give the rebate or did they just accept it? Did anybody have any issues receiving the rebate cheque after they payed off the financing early? Do you have to wait for your account number to arrive before you all payed it off early?

mikegs1952

I didn't actually get a $1000 rebate check for financing w/fmc, they just took the $1000 directly off the msrp (along w/the other discounts). So no waiting here. I also only had to finance $5000 to get the credit and paid the balance when I got my 1st payment notice.No problems

motox151

no you can refinance as soon as you get your first bill in the mail. I work at Ford dealer and did this myself a few weeks ago when I bought my 2010. I financed through ford for the extra 2 grand but at a rate of 8.99% through ford. I got my payment book and went right to my credit union and re financed at 4.99%

ford motor credit has higher interest rates than your bank or credit union so you would be foolish not to refinance

tradosaurus

I refinanced mine within 2 weeks that I bought my truck. Once I had an account number with Ford Motor Credit was my green light to refinance.

Tampawright

with the new electronic signing at MOST dealers you get your FMC account info on the spot. I refi'd the next day! no penalty and I got the $1k rebate... you don't owe the dealership or salesman ****! bottom line if you left with a truck yo upaid too much so you deserve the money... I don't go to a dealership to put food on anyone's table

Haliburton

Thanks for posting, my dealer stated just 1 regular payment then pay it off. I can get 3% thereabouts on my line of credit.

jt_04

i didn't even make the first scheduled payment....called FMC to get my account info and paid it off a few days after buying the truck. FMC gave me 6.9%, i refinanced at 2.9% through my bank!