Interest rates?

[Balerstos]

Well you kind of got lucky with only a 2.5 month wait, (Congrats by the way) I have a 2.49 rate but waited over a year (I know tons of people waited longer). It all balances out, Waits were caused due to bad planning by Ford, High interest rates are due to bad voting habits by people!!!!

Could not agree more. Whoever appointed the guy in charge of the Federal Reserve in 2018 is someone folks should be wary of voting for.

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[Min_Ahn]

I financed my current vehicle at a local credit union back in May 2022 at 2.3%
A year later, the lowest they can offer is 6.99% thanks to big boii Powell

 

[vrtical]

I called around this week. Most banks and credit unions followed the FED up on Tuesday. USAA was the cheapest I could find, but you have to be military affiliated. My plan is to take my pre-approval with me to the dealership's finance office and see if Ford credit can beat it. If they can't I'll refinance at some point when rates return to normal.

Ford credit or any non CU bank will laugh at you.

 

[mC.242]

I think people waiting for rates to return to a "normal" of less than 3% will be in for a long and disappointing ride. To be honest, the rates now are probably the new normal and I don't expect to see them going much lower than 5% unless we head into a fairly significant recession.

 

[JTBros]

I think people waiting for rates to return to a "normal" of less than 3% will be in for a long and disappointing ride. To be honest, the rates now are probably the new normal and I don't expect to see them going much lower than 5% unless we head into a fairly significant recession.

Completely agree, I don’t think we’ll see a huge change in the next few months but fingers crossed things calm down in 2-3 years for refinancing opportunities.

 

[The Compensator]

Ford credit or any non CU bank will laugh at you.

That's what I figured, but hey, always the optimist...

 

[rblock50]

I used USAA in Jan for my WT and my rate was around 4% for 4 years. Just a note, when you bring your own financing, it does slow things down (at least for me, but I assume it’s the same). I had to get the purchase order sent to USAA, send in my deposit to the dealership, have funds wired and cleared from USAA. That all took about 3-4 days it seemed. I was doing it out of state so I didn’t care about the delay as I wasn’t sitting at the dealership finance desk. If I bring my own financing and buy from the local dealership off the lot, I’d just go with the Ford loan (and do my best to get them to match) and refinance later if needed.

I’ve never heard of closing costs on an auto loan before either.

Oh and OP, wow you ordered and got a build date in 2 months, that’s amazing! What dealership did you use?

 

[AG81]

Financed a week ago. 2023 Badlands 4 Dr with $10K options from FORD. Credit score over 830.
50% down payment. Best I could get was 5.25% . My bank offered 6.25%

 

[BQH2010]

Well you kind of got lucky with only a 2.5 month wait, (Congrats by the way) I have a 2.49 rate but waited over a year (I know tons of people waited longer). It all balances out, Waits were caused due to bad planning by Ford, High interest rates are due to bad voting habits by people!!!!

Nailed it.

 

[PatientlyWaiting]

Could not agree more. Whoever appointed the guy in charge of the Federal Reserve in 2018 is someone folks should be wary of voting for.

But then the follow up guy renominated him for a second term in 22. So where does that leave us? Vote neither?

 

[TCC]

Once you live through the Jimmy Carter era interest rates (+15%), rates are still cheap. Unfortunately everyone has gotten use to “free” money for the past 10yrs As the Fed has been running the printing press non-stop. Rates must return to a more normal/historic level but the pain will be felt as they do it.

 

[IDAbronco]

Rates are rough right now. Just on Saturday I got my Bronco, I ended up getting a loan for $12.5k and with a 804 credit score the best rate I could get was 6.22%. Bleh... might look at more local credit unions and see if I can find a lower rate in the coming months.

I remember when I started this process I was looking at interest rates <3%.

 

[Fairtrade87]

Check out USSFCU (United States Federal Credit Union) you can join for free via becoming a member of American Consumer Council- VA chapter. There is a wait time for USSFC to approve you though, approx 2 weeks. USSFCU rates as of 4/2023 are really favorable, can't compare to Ford or Pen Fed
USSFC has 3.75% for 60 months, with good credit. It sure beat Penfed @ 5.8% & Fords rates of at least 6.5%


https://www.americanconsumercouncil.org/

https://www.ussfcu.org/

 

[FloridaBroncoPipeDream]

Check out USSFCU (United States Federal Credit Union) you can join for free via becoming a member of American Consumer Council- VA chapter. There is a wait time for USSFC to approve you though, approx 2 weeks. USSFCU rates as of 4/2023 are really favorable, can't compare to Ford or Pen Fed
USSFC has 3.75% for 60 months, with good credit. It sure beat Penfed @ 5.8% & Fords rates of at least 6.5%


https://www.americanconsumercouncil.org/

https://www.ussfcu.org/

It says, "** If eligible for all possible discounts". I wonder what that eligibility is outside of being a member.

 

[Fairtrade87]

It says, "** If eligible for all possible discounts". I wonder what that eligibility is outside of being a member.

Not too sure about those additional discounts but I would closely assume if you use any of their other financial products, you may be eligible for qualifying member discounts

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