Financing Options?

[cboggs]

Since many will be getting their Rangers soon: what financing options/offers are people getting from Ford or their dealership? Assuming excellent credit, I’ve seen 5.99% but not much better.

Anyone seeing better from their dealer?

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[Wags]

Navy Federal has 5%

 

[fordtrks4ever]

Since many will be getting their Rangers soon: what financing options/offers are people getting from Ford or their dealership? Assuming excellent credit, I’ve seen 5.99% but not much better.

Anyone seeing better from their dealer?

5.99% at how many months?

 

[cboggs]

5.99% at how many months?

60 I think, but the length of the loan isn’t really important to me. Just the rate honestly.

 

[Scotty piffin]

I submit auto loan applications daily at work, best rates I'm seeing through standard banks (BoA and Chase) is upper 5s for people with excellent credit. Although I do know that some credit unions have more aggressive rates especially on longer term loans. Rates have improved slightly over the past three months based on what I was seeing for like the past 12 months prior.

 

[Cyrusblack]

I saved my Shekels - I’m paying cash

 

[CherryCoke]

Farm Bureau Bank
Equifax 661 or higher
Tier 1 -
60 - 6.29
75 - 6.69
84 - 7.29

 

[fordtrks4ever]

60 I think, but the length of the loan isn’t really important to me. Just the rate honestly.

From what I have been reading the shorter the length the lower the rate.

 

[Zackattack2846]

60 I think, but the length of the loan isn’t really important to me. Just the rate honestly.

lol it’s that kind of thinking why people pay so much in interest.

My rule is never do more than 36 months, and always pay it down sooner.

It’s crazy to think some people are taking 5-7 years to pay off just a car

 

[stringbreaker]

you can probably get 0% for 72 months at ford motor credit if you have a high score

 

[CherryCoke]

you can probably get 0% for 72 months at ford motor credit if you have a high score

Probably? Where are you getting this assumption?

 

[stringbreaker]

Probably? Where are you getting this assumption?
Google ford motor credit financing interest rates it's not that hard

 

[Scotty piffin]

lol it’s that kind of thinking why people pay so much in interest.

My rule is never do more than 36 months, and always pay it down sooner.

It’s crazy to think some people are taking 5-7 years to pay off just a car

With the current prices of cars I can tell you that very few people are in a position to finance a car for 36 months and last I checked the average length of car loans in the country currently is north of 66 months. All of the rangers at least $36k plus tax and the average new car price is like $48k . Don't think many people are in a position to carry a car payment north of $1k per month especially when everything else in your life costs so much more right now.

 

[CherryCoke]

Hmmm . Post reply in my reply.

Well @stringbreaker , I couldn't find anything on the information you provided. Would you be so kind to provide this information to us members.

 

[stemplar]

lol it’s that kind of thinking why people pay so much in interest.

My rule is never do more than 36 months, and always pay it down sooner.

It’s crazy to think some people are taking 5-7 years to pay off just a car

Your rule of keeping the term short makes sense if your only option is to finance the purchase. For those of us choosing whether to finance or pay cash, the more important thing to consider is whether the interest on savings/investments is higher or lower than loan rates. When I’m earning more interest in savings than I’m paying on a loan then I’ll finance big purchases for as long as possible.

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