🔒 Ford Credit Finance Rate Lock Program - For 2023 Models Ordered by 1/3/23

[Hopkinsforestry]

I just checked, they're at 4.29 for 72 months, USAA at 4.84 ... Odds that they'll stay steady for another 6-9 months???

Rates are going up mid December I think a 1/4%

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[VoltageDrop]

I remember 0% - even better! Anything over 60 months for a car loan is nuts!

Is it? I got 84 months at 2.15% on my Bronco and that is cheap money in my book.

Subaru was 1.9% back in May for my daughters Outback.

I would expect Ford to be 4-5%..

0% for 60 months seems like a long time ago now.

Ram was doing 0% for 72 months plus a little bonus cash last week when I was looking at trucks.

 

[HeHateMe]

Yeah, I'd only do 0% on a longterm loan... Otherwise, any interest at all, no more than 60 and even that hurts... 36 and 48 are good.

$1k a month payments... No problem...

 

[OCNORB1974]

Honestly is BS. Shouldn’t matter what model vehicle it is.

If people are stupid enough to pay admin for the hot models, they’ll pay higher interest as well without blinking an eye. Then, a couple years in, they’re underwater on their loan. Watch for lots of loan defaults over the next couple years.

 

[OCNORB1974]

Use a credit union. Ford will not be able to beat their rates.

Not always true, I bought a Maverick in January and Ford had a better rate than the credit unions.

 

[Shazamalingo]

Not always true, I bought a Maverick in January and Ford had a better rate than the credit unions.

There is an exception to every rule

Though in January my credit union was offering 0.99% over 5 years and 1.09% over 6 years and Ford was not near that (at least for me).

 

[tourproto]

figure it starts at 5% and goes up based on credit rating. Even in April the best the Ford finance guy told me he could offer through Ford was 4.9% and I have an almost 800 credit score.

When I got my Bronco at the end of March, I told the Ford sales guy and said I would finance if he could get me a great rate. to me it had to be 1.9% or less. It was also 4.9% at that time. And the Fed had only done the first rate hike at that time.

 

[Lilj4425]

figure it starts at 5% and goes up based on credit rating. Even in April the best the Ford finance guy told me he could offer through Ford was 4.9% and I have an almost 800 credit score.

Screw that. I got my financing through Truist for a little over 2%.

 

[Massbronco]

From everything i've seen, this program is not compatible with Bronco

"*Place a new vehicle retail order for a 2023 Ford Mustang®, Bronco® Sport, Edge®, Escape®, Expedition®, Explorer®, Ranger®, or F-150® through a local authorized Ford Dealer on or before 1/3/23 and lock in 3.9% APR financing for 60 months at $18.37 per month per $1,000 financed regardless of down payment (PGM #21358). Not all buyers will qualify for Ford Credit financing. Not available on Bronco® or Bronco® Raptor SUV, F-150 Lightning™, F-150 Tremor® or F-150 Raptor®. Residency restrictions apply. See dealer for qualifications and details. Some exclusions may apply. Due to high demand and global supply chain constraints, some models, trims, and features may not be available or may be subject to change. Check with your local dealer for current information. "

 

[Lowcountry Bronco]

From everything i've seen, this program is not compatible with Bronco

"*Place a new vehicle retail order for a 2023 Ford Mustang®, Bronco® Sport, Edge®, Escape®, Expedition®, Explorer®, Ranger®, or F-150® through a local authorized Ford Dealer on or before 1/3/23 and lock in 3.9% APR financing for 60 months at $18.37 per month per $1,000 financed regardless of down payment (PGM #21358). Not all buyers will qualify for Ford Credit financing. Not available on Bronco® or Bronco® Raptor SUV, F-150 Lightning™, F-150 Tremor® or F-150 Raptor®. Residency restrictions apply. See dealer for qualifications and details. Some exclusions may apply. Due to high demand and global supply chain constraints, some models, trims, and features may not be available or may be subject to change. Check with your local dealer for current information. "

Yep, guess Ford thinks potential Bronco owners hate saving money based on all the ADM and upcharges dealers tack on.

 

[ColonelAngus]

I just refinanced 2 weeks ago from ford at 6.99% /72 months to my credit union at 3.14% 72 months. Wife and I both have 800ish scores. Made 1 payment. No changes to anything relevant. I even told the dealer I can get 3.14%. (Only signed because it was a Saturday evening)
Over $75 a month cheaper now LOL

I assume Ford lets finance hold rate.... so I'm guessing they added a % or two... but still not good lol.

 

[Scopebit]

Can’t hurt to run it with Ford anyway just to have a comparison point.

By the way, better act fast, interest rates will be raised again next month; that is pretty much set in stone. Likely another increase first quarter of 2023 as well.

Agreed! 5 years EASY before we even sniff a possible downward tick in interest rates.

 

[MadMan4BamaNATL]

Agreed! 5 years EASY before we even sniff a possible downward tick in interest rates.

Actually, rates should start to come back down within 18 months.

We’re not in a recession, unemployment is 3%. Problem is demand is too high.

People had a lot of money to spend, but the economy could no longer produce enough goods to meet demand; thus the increase in prices.

Our economy isn’t designed for “everyone“ to have money, only the middle class. Today, it’s the upper middle class and upper class who have all of the money and both populations are fairly greedy. Sorry, these are just economic facts.

Once consumer spending slows and people get over this pandemic fueled spending frenzy, the Fed Reserve will lower rates. They’re only striving for balance in the economy.

Supply chains are already catching back up and people are slowing excessive spending. There will in turn be a few companies who make layoffs, but the workforce is much smaller than the recession of 2008-10, so we won’t see anything near those days again.

Sure, for now, we’ll all be squeezed, but it was necessary to control the level of gouging that’s going on these days.

I know this isn’t what anyone wants to hear, but it’s the truth and there are no jokes or exaggerations in this post.

 

[AMC Ape]

Good job Ford! Only about a year behind. Although I’ll take late over never. Last time I spoke on Ford doing this very thing, the right thing, but for Broncos, the only response was lol emojiis. Anyways man if I borrow money it will likely be thru my local credit union. Been saving for two years so might just flex on them, pay cash and finance the warranty on the Ford credit card for the points, flip them for some accessories.

 

[AMC Ape]

Actually, rates should start to come back down within 18 months.

We’re not in a recession, unemployment is 3%. Problem is demand is too high.

People had a lot of money to spend, but the economy could no longer produce enough goods to meet demand; thus the increase in prices.

Our economy isn’t designed for “everyone“ to have money, only the middle class. Today, it’s the upper middle class and upper class who have all of the money and both populations are fairly greedy. Sorry, these are just economic facts.

Once consumer spending slows and people get over this pandemic fueled spending frenzy, the Fed Reserve will lower rates. They’re only striving for balance in the economy.

Supply chains are already catching back up and people are slowing excessive spending. There will in turn be a few companies who make layoffs, but the workforce is much smaller than the recession of 2008-10, so we won’t see anything near those days again.

Sure, for now, we’ll all be squeezed, but it was necessary to control the level of gouging that’s going on these days.

I know this isn’t what anyone wants to hear, but it’s the truth and there are no jokes or exaggerations in this post.

Sounds good however reality brings us a future no man can predict. Best to be prepared for the worst and ready for the best.

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