Ford Financing rates - anyone know what Ford's current APR is for Tier 1 credit?

[smoot618]

Probably a dumb question, but what it top tier credit? I have some student loans, but other than that, no debt and cards are always paid off. Credit Score is roughly 718 and plan to put a little over half down. Not sure what the ball park APR will be

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[TravisD]

basic question but is there any benefit to taking a loan with Ford MC or other through the dealer? Like, will they give you a better deal on a trade in or throw in some parts? PenFed does have some great rates but its easy to move the loan if taking the dealer setup gets an advantage.

 

[Rahkmalla]

Well whatever it was it saved me a ton

I'm sure it did. My point was VW didn't offer YOU that rate, that was the "rebate" of the month for that vehicle. Going around telling others that manufacturer rates are great when the rate was subsidized is not telling the full story. MNFR rates actually suck in general. And for what it's worth, a lot of times MNFRs offer you either a great rate or a rebate, and which one saves you more really depends on a lot of factors.

 

[Herbie]

As several have said, you probably just need the mere threat of a 1.99% from somewhere/anywhere and your dealer will be able to get there. Also, I agree with James, don't haggle over a tenth of a percent. If that matters then you have bigger issues to tell your therapist about.

 

[Rahkmalla]

Probably a dumb question, but what it top tier credit? I have some student loans, but other than that, no debt and cards are always paid off. Credit Score is roughly 718 and plan to put a little over half down. Not sure what the ball park APR will be

all depends on which bureau any particular institution uses. if you've ran your 3 bureaus and your lowest score is a 718, you're in decent shape and probably eligible for the best rates in most places. But every bank is different so generally top tier for auto loans (meaning no matter where you go you're never not getting the best offer) is about 740. Anything over that is just gravy for automotive purposes.

 

[Herbie]

Probably a dumb question, but what it top tier credit? I have some student loans, but other than that, no debt and cards are always paid off. Credit Score is roughly 718 and plan to put a little over half down. Not sure what the ball park APR will be

That is a good score and if you are putting half down and can't get a rate of 1.99 or better then I would be shocked.

 

[Kekov721]

I just got an Explorer for my wife a month or so ago. The finance guy at Ford advised if you have good credit it is going to be better to go through the connections they have with local banks vs Ford financing, which was exactly the case.

 

[Bronco21fan]

I'm sure it did. My point was VW didn't offer YOU that rate, that was the "rebate" of the month for that vehicle. Going around telling others that manufacturer rates are great when the rate was subsidized is not telling the full story. MNFR rates actually suck in general. And for what it's worth, a lot of times MNFRs offer you either a great rate or a rebate, and which one saves you more really depends on a lot of factors.

Thank you for your insight I did not know that

 

[Rahkmalla]

basic question but is there any benefit to taking a loan with Ford MC or other through the dealer? Like, will they give you a better deal on a trade in or throw in some parts? PenFed does have some great rates but its easy to move the loan if taking the dealer setup gets an advantage.

trade deal is based on dealer, not financier, so no, a financier will not offer you anything other than a rate.

Now, a dealer might offer you some stuff for going with one place over another, but that's because they are boosting the bank offered rate and making money on the back end, of which they might be willing to offer you some of it to compensate.

Dealers boost every bank offered rate they can. It's one of the ways they make money (including but not limited to: gross profit and holdback payments [front end], protection, warranty, and boosted interest rates [back end], advertising budgets from manufacturers [hidden] and screwing their salesmen out of commision [PAC] and making you pay for their support staff [doc fee])

The duration of your loan determines how much they are legally allowed to add to the rate, it's one of many reasons why dealers are pushing longer and longer terms.

 

[prancingpanther]

Does anyone know what Ford's current APR is for Tier 1 credit 60 and 72 months? My credit union (Penfed) is currently offering 1.99% (60mo) and 2.39% (72mo). I know rates can change, but that doesn't happen too frequently.

My local credit union was also offering 1.99% for 60 months (would have been 1.74% had I also opened a credit card), my dealer Town & Country in Charlotte was able to offer 1.84% yesterday for 60, 66, or 72 months. Ended up going with the dealer credit for ease of process and the fact that I don't need another credit card.

 

[GoTigersGoBronco]

A hefty down payment or trade can/will result in a tier bump or discount on LTV. Depends on the lender.

 

[Squatchn']

I just bought a new Explorer two weeks ago for my wife and I got 1.9% for 60 months through Ford.

 

[WatchYourSix]

Check USAA. They are offering me 1.89% for 60 months, 2.29% at 72 months.

 

[BroncoPls!]

Purchased my wife a Bronco Sport, with Ford credit, 0% interest for 48 months.

 

[MorgansRun]

Check USAA. They are offering me 1.89% for 60 months, 2.29% at 72 months.

I don't have access to USAA.

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