What interest rate is everyone getting as of today?

[Drew5150]

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.

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[1979]

Ouch. That seems extremely high.

 

[lapazleo]

Got half that interest rate at my credit union. Ford credit is running high from people I talk to.

 

[Dayton1984]

Got half that interest rate at my credit union. Ford credit is running high from people I talk to.

Are most dealers cool with walking in preapproved and we can just use our own credit union? If so I could probably get a low rate with my own cu as well

 

[chartzilla]

Rates are going up but that's pretty high. Are you financing through the dealer? Usually they're going to markup the rates pretty substantially.

I got 2.75% through my credit union 2 months ago. Looks like it's 4.15% now. No membership requirements.

https://www.alliantcreditunion.org/rates#vehicle-loans

 

[M4Madness]

I opened an account at a local credit union last week, since they have much better rates than any bank around here. I was told 2.95% for 60 months with great credit rating, but hell, it'll probably be much worse when my Bronco actually gets built. Lol!

 

[8oncoPete]

If you locked rate back in June you'd be better off and most rate locks last 30 days from loan application. After June 30th the new fed base point increase impacted all rates on July 1. I got 2.74 for 60 mos with excellent credit. Checked in July the same loan is now 3.74. Check credit unions, but the rate you got seems very very high, but lock soon, as things are a bit bumpy right now with the federal reserve.

 

[chartzilla]

Are most dealers cool with walking in preapproved and we can just use our own credit union? If so I could probably get a low rate with my own cu as well

They don't love it, but generally they should let you use outside financing as it's basically the same as you paying cash from their perspective (you just show up with a check from your bank). They prefer you use their financing because they make money off it. Usually they'll negotiate the rate if you show them you're approved with outside financing at a lower rate.

 

[Purplelaw]

I am waiting shipment so I went to my Credit Union and got everything done. Got a 3.29 rate. Ford was crazy high.

 

[Dayton1984]

They don't love it, but generally they should let you use outside financing as it's basically the same as you paying cash from their perspective (you just show up with a check from your bank). They prefer you use their financing because they make money off it. Usually they'll negotiate the rate if you show them you're approved with outside financing at a lower rate.

Ok thanks that makes sense. For Harley and Acura purchases I just let dealer shop credit but with rates rising it may make more sense to come preapproved like you mentioned

 

[jflores]

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.

Definitely check with a credit union. These are the rates at my credit union right now.

 

[chartzilla]

Ok thanks that makes sense. For Harley and Acura purchases I just let dealer shop credit but with rates rising it may make more sense to come preapproved like you mentioned

Yeah I highly recommend just getting pre-approved somewhere and tell them you're gonna use outside financing if they can't match it. Unless you get some crazy low rate they'll almost always be able to match it.

My dealer oddly didn't even try to match it and just told me to use my credit union. A little more legwork but fine by me.

 

[rtazz17]

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.

Yup,feds are raising rates to combat inflation. Wont matter your credit score

 

[B_Dmatt]

2.9 for 48

 

[Dayton1984]

Yeah I highly recommend just getting pre-approved somewhere and tell them you're gonna use outside financing if they can't match it. Unless you get some crazy low rate they'll almost always be able to match it.

My dealer oddly didn't even try to match it and just told me to use my credit union. A little more legwork but fine by me.

So do you go to the dealer first to see grand total including taxes then go to credit union or does the purchase agreement include taxes so you know exactly how much to finance with your credit union and what the check amount should be?

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