Ford Financing

[Moya7]

Built according to dealer. No fires confirmation. I think he found 1.74 for 60. It was just nice to do thru dealer since it's easy to close.

Patience Grasshopper, yeah I know easy for me to say!

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[LPETTIS4]

I believe I’m still locked in for another week for 1.79 with Penfed for 36mos.

How long have you been a member?

 

[WhiteMamba]

DCU, 1.49 for 65 months

 

[LPETTIS4]

Here’s my dilemma. My blend date is 7/13, so it’s time to decide.

Save your scorn of my financial choices thus far. The smart thing to do would be keep my car and drive it another 10 years, but I want the Bronco and I’m going by heart, not brain. With that context…

My current car is paid for and its sale value right now to Carvana or Carmax ranges from 26,000 to 27,000. My original plan was to sell it and pay off a $25,000 debt that’s 11.5% that I pay about $600 a month on, at which rate it’s going to take a good while otherwise. Or pay $20,000 of it off at least and use $4,000-$5,000 for Bronco down payment. But now I’m wondering if I should instead trade it in on my $40,040 (plus taxes) BD which would cut my monthly on the car note to $250 or less depending on APR of whatever bank I use.

Any thoughts or advice from the financial gurus here?

Probably should have gotten a base Base, paid off the debt by selling my ride, and finance the whole Base at a total barely more than current debt at lower APR.

You would be better off paying that loan off because of the 11.5% interest rate. Your interest on your car will be much lower.

 

[PrepVet]

I know it has been asked before but I have not seen a “good” or reasoned answer.

Ford leasing. Is it as bad as it looks?

I’ve never leased a car and hate the idea of paying for something and having nothing at the end of it. (Use of the car is not having something it’s a service)

Looking at staying around $400 a month car note or lease payment.

It is $5,000 down for the lease and $15,000 down for the purchase with external financing.

I like the idea of having a first (or more than likely second) year model of car on a lease in case the new model jitters are extreme. Also there maybe a model or engine that comes out in a few years I would prefer. But I will have nothing at the end and have to watch how I drive in it to make sure I don’t go over miles.

However with a purchase it is more liquid assets up front and a longer term.

But the more I look at it I can’t make the lease look good despite its few pluses.

 

[Lord Bronco]

You would be better off paying that loan off because of the 11.5% interest rate. Your interest on your car will be much lower.

That’s what I did. Paid that whole albatross off. None left over for down payment, so I financed the whole price of the Bronco (Wells Fargo, through Ford). Monthly is more than the minimum monthly on the other loan, but I already paid more than the minimum on that, and it was going nowhere because of the high interest. I’ll also be on the lookout in coming months for any lower interest rates to refinance the Bronco and try to knock it down even more.

 

[MayhemMike]

If you have stellar credit you hold all the cards. The dealership will try to get you for a lousy rate,but once they run your credit check and see you have triple A rating they will bend over backwards to match whatever rate you have obtained beforehand. I have even had them offer half point lower if I used their credit and promised not to refinance for at least six months. Again, if you have a stellar track record of remittance , you are large and in charge.

 

[LPETTIS4]

That’s what I did. Paid that whole albatross off. None left over for down payment, so I financed the whole price of the Bronco (Wells Fargo, through Ford). Monthly is more than the minimum monthly on the other loan, but I already paid more than the minimum on that, and it was going nowhere because of the high interest. I’ll also be on the lookout in coming months for any lower interest rates to refinance the Bronco and try to knock it down even more.

You saved yourself a lot of money by paying that loan off.

 

[Lord Bronco]

You saved yourself a lot of money by paying that loan off.

Shitloads!

 

[Lilj4425]

Who has the best financing right now for 72 months if you’re not a member of the military? Looking for something at 3% or less.

 

[VicDamone]

Who has the best financing right now for 72 months if you’re not a member of the military? Looking for something at 3% or less.

I got Approved with Bank of America at 2.69%. 30 days rate hold and my Truck should be there this week fingers crossed

 

[Moya7]

How long have you been a member?

You got 1.79? I got 1.99 from PenFed. Received my check but my Bronco is stuck at the port across the bay from me. Dealership couldn’t match the rate I got so I finalized my financing last week. Makes it more difficult as I don’t know what my OTD will be.

 

[Moya7]

Who has the best financing right now for 72 months if you’re not a member of the military? Looking for something at 3% or less.

PenFed offers 2.39 for 72, I got 1.99 for 60. Easy process to join etc.

 

[Moya7]

I know it has been asked before but I have not seen a “good” or reasoned answer.

Ford leasing. Is it as bad as it looks?

I’ve never leased a car and hate the idea of paying for something and having nothing at the end of it. (Use of the car is not having something it’s a service)

Looking at staying around $400 a month car note or lease payment.

It is $5,000 down for the lease and $15,000 down for the purchase with external financing.

I like the idea of having a first (or more than likely second) year model of car on a lease in case the new model jitters are extreme. Also there maybe a model or engine that comes out in a few years I would prefer. But I will have nothing at the end and have to watch how I drive in it to make sure I don’t go over miles.

However with a purchase it is more liquid assets up front and a longer term.

But the more I look at it I can’t make the lease look good despite its few pluses.

Ford lease is awful, the interest rate is ridiculously high. Works out to be 8.59% for 36 months. Don’t. Do. It.

 

[Glen]

If need be. I can get 1.74 from the bank. BofA. Everything will sure change in the ten to twelve months before the Bronco comes in.

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