What interest rate is everyone getting as of today?

[Havanajoe]

the dealer said they would give me the same rate I don’t care who finances it I guess I’m only financing around. 1/2 I just wantEd to have an answer when they say they dont accept the credit union money. Thanks guys

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[Letagoavs710]

I’m supposed to pick my bronco up Tommorrow I was approved at a local credit union for 3.25% Ford says they don’t deal with outside financing I call BULL how should I handle this when I go there? can they force me to use their financing?
I’ve been leasing new cars for over 10 years so maybe things have changed?
after a long wait I’m not walking out so don’t respond with that as an answer

the dealer said they would give me the same rate I don’t care who finances it I guess I’m only financing around. 1/2 I just wantEd to have an answer when they say they dont accept the credit union money. Thanks guys

First off, no, they absolutely cannot force you to do a damn thing or reject any financing. Secondly, do not take their financing unless they offer you a discount. They’re getting paid for that financing so it’s of no incentive for you to use them. My Jeep came from a dealer who sells below invoice and they gave 1% extra for financing with them for a minimum 8 months. Because they got paid for it and I enjoyed the extra $500 discount. Ask for a discount, oil changes. Sun top. Something.

 

[66Fan]

Have things really gotten that out of hand with interest rates? I picked mine up December of '21 and I got 2.09% for 72 months with Bank of America.

Yes, that term is now ~4% with BoA with perfect credit.

 

[Summit981]

What's everyone getting for interest rates as of today?

I'm picking my Bronco up on Tuesday.
72 months at 6.54%. With great credit.

Man, is this a great and timely question!

I posted this in another thread, but its probably worth repeating here.

For me the biggest issue with financing a vehicle (which people rarely, if ever, talk about) is the overall question of affordability. I'm not talking about "can you make a monthly payment" as much as I am "what price should you be paying in the first place."

When you stroke one big check you put a whole lot more thought into the total price of what you're buying than if you undertake the more (relatively) abstract idea of taking on a monthly payment. I guarantee you most people significantly "slippery ramp" the price they pay for a vehicle based on the operation of a monthly payment than what they would be willing to pay if they were paying up front.

From a personal finance perspective, affordability really is the most important question, both for your monthly budget and net worth. When people finance, I think they are naturally inclined to play "fast and lose" with both issues. When you pay cash, you've basically put both issues to bed right in the beginning and you don't have to think about either again.

Mud Dawg

THIS ^... Like the man said, focus on the total "out the door" price, not the monthly payment. If your desired out the door price is $MSRP then stick to your guns - good salesmen will run circles on you if you let them steer you into monthly payment numbers. Also, as stated here in this thread, go into the dealership with a pre-approved loan from your bank or credit union. Having a pre-approved loan (presumably at a good rate) is the most important bargaining chip you have to get the best rate possible. The finance/incentive officer will either concede you have the better rate or they will fight to get your business by knocking a few percentage points off their own loan offer.

 

[FleshTuxedo]

Got my bronco 2 weeks ago. My credit is pretty good, but not excellent and I got financed at 4.5%

 

[Mud Dawg]

I have a FICO of 835. I can get way less than that if I desire.

Ahhh…the FICO flex. Impressive.

 

[MAFD]

I have a FICO of 835. I can get way less than that if I desire.

Care to elaborate how you can get what your heart desires with your impressive FICO score?

I was just looking for credit union name.

Thanks!

 

[Tito]

3.69 75 months premier America credit union, Ford offered 4.79

 

[Bud2020]

I have a FICO of 835. I can get way less than that if I desire.

Bless your heart, summer-child.

 

[hsun85]

Wescom 3.03% 60 months

 

[fiatlux]

For folks in the SF Bay Area, Redwood CU is doing 3.09% for 60 months. That's low enough that I might actually finance it instead of selling securities in this bear market...

 

[luvmybronco]

Navy Federal 3.49% for 60 months with 800+ credit score. 3.79% for 72 months. Before I left for my three month Africa trip, I could have got 2.99% from my local credit union. Now, they are well over 4%

 

[tomcartmeljr]

Picked up my check at the credit union this afternoon. 3.29%/72 months. Dealership said they couldn't beat that. Trading that check for my Bronco tomorrow morning. Finally.

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