Current estimate interest rates?

[Sevokevo]

What people have been getting lately with interest rates for Financing your Ranger… maybe specifically the Ranger Raptor…

Right now I am looking at interest rates as low as 5.29% with my credit union for 72 month loan…

but what people getting from Ford Credit?
I am asking because my truck is expecting to be here this week and I am split on just going with my credit Union or just run it with Ford Credit only…

the ONLY reason I am split is because Ford credit has the “Lump Sum Reset” option in there systems where my credit union does not….. the reason I am looking at this is because my monthly payment for the truck is going to be HIGHER than I want it to be so I plan to pay off a large chunk of the principal and either Do the reset to lower ny monthly bill that way I can start focusing more on saving and paying the truck off when my savings is up there… yeah I am being complicated… but that’s just how my mine is running

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[Bt_okst]

6.3 72 months was 5.9 for 60 months.

Navy fed cu is lower, but went with bofa since many prior auto loans with them.

 

[Sevokevo]

6.3 72 months was 5.9 for 60 months.

Navy fed cu is lower, but went with bofa since many prior auto loans with them.

Was that 6.3 with NFCU because that’s my credit union.. as for Bank of America.. I have never had a loan with them

 

[markal49]

4.99 for 60 months through one of our credit unions.

 

[Sevokevo]

4.99 for 60 months through one of our credit unions.

Very nice.. I have not seen anything that low yet…. Well actually NFCU has it that low but I know I would not be able to have the payment to where I want it to be at 60 months.. the better is 72 months and still pay it off in full ASAP

 

[NASSTY]

Current rates at my local credit union. When I ordered my truck 4 months ago the rates were over 7%.

Loan Type	Rate (as low as)	Term
New Auto Loans	5.29% APR	0 - 35 Months
New Auto Loans	5.69% APR	36-59 Months
New Auto Loans	6.19% APR	60-83 months*

 

[Bt_okst]

Was that 6.3 with NFCU because that’s my credit union.. as for Bank of America.. I have never had a loan with them

No the rates were with bank of America.

Nfcu pre-qualified me lower, but then wanted a lot more info than bofa despite my high fico score so I just used bofa.

 

[telenerd]

You’re better off going with a shorter loan and putting lots of money down to avoid having to pay monthly GAP insurance and interest over time. Who wants to pay 1k a month for 6 years?

Most loan providers require monthly GAP insurance if you’re not putting down 20%.

If now isn’t the right time to get the truck for your situation you may want to walk away from it and avoid potential a repo.

 

[Bt_okst]

You’re better off going with a shorter loan and putting lots of money down to avoid having to pay monthly GAP insurance and interest over time. Who wants to pay 1k a month for 6 years?

Most loan providers require monthly GAP insurance if you’re not putting down 20%.

If now isn’t the right time to get the truck for your situation you may want to walk away from it and avoid potential a repo.

I've never paid gap. I almost always get 72 months so my credit report shows lower debt ratio with a lower pmt, but then I make a double pmt or so to pay off sooner. So this is an option for some also. Have almost perfect credit score having done this for many years.

 

[telenerd]

I've never paid gap. I almost always get 72 months so my credit report shows lower debt ratio with a lower pmt, but then I make a double pmt or so to pay off sooner. So this is an option for some also. Have almost perfect credit score having done this for many years.

Suit your self. I paid off my Bronco within 12 months and only paid 1500k in interest. So you can take my advice or leave it. If I was to just make double payments at 72 month loan I would still be paying on it!

Gap is required depending on who you get your loan from.

 

[Bt_okst]

Suit your self. I paid off my Bronco within 12 months and only paid 1500k in interest. So you can take my advice or leave it. If I was to just make double payments at 72 month loan I would still be paying on it!

Gap is required depending on who you get your loan from.

Was just saying there are other ways of doing things, not critiquing how you did it. I could do that too. But many can't pay a truck off that quickly and need other options.

If you pay cash like I did on our other car, you pay no interest.

Some many not be able or want to pay one off so quickly or all at purchase.

 

[telenerd]

Was just saying there are other ways of doing things, not critiquing how you did it. I could do that too. But many can't pay a truck off that quickly and need other options.

If you pay cash like I did on our other car, you pay no interest.

Some many not be able or want to pay one off so quickly or all at purchase.

Sounds good. Take care.

 

[Bt_okst]

Sounds good. Take care.

U too. Hope you enjoy your new Ranger!!!

 

[Sevokevo]

No the rates were with bank of America.

Nfcu pre-qualified me lower, but then wanted a lot more info than bofa despite my high fico score so I just used bofa.

So what info did NFCU asked more on… I used there process several times and they all reasonable info to ask for like the VIN and stuff because they need that.. if you skip it then the check will be blank and the dealer has to fill that stuff in.. all in all I still find NFCU with the better rate at this time but if I can find something cheaper I would

 

[Bt_okst]

So what info did NFCU asked more on… I used there process several times and they all reasonable info to ask for like the VIN and stuff because they need that.. if you skip it then the check will be blank and the dealer has to fill that stuff in.. all in all I still find NFCU with the better rate at this time but if I can find something cheaper I would

I applied online for pre-qualification. I kept getting an emsil from them saying they couldn't verify it was me and I needed to call them. I had no such issues with anyone but them, so moved on from them.

I'm sure I just inputted something wrong on my end, but I all ready have accounts with bofa so it just made it easier anyways. Truck I was paying off was with them too.

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