What is your APR?

[Elgin_Ranger]

Until Ranger/Hobb posts any sort of proof I wouldn’t believe a word that he says…
Just a heads up people!

Why?

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[Elgin_Ranger]

So a couple things here:

• You can go to any bank and see what they have for financing. The dealer doesn't care what you pay, and they want you to finance with them at the end of the day, since they get more money
• If you go to a 3rd party, whatever it may be, you simply walk in, if you aren't a customer already you'll say you want to become one and also look at an auto loan. You will meet with their loan department and start going through various approvals. They wont sign you up to be a customer unless the loan goes through, so you can walk away at any time if you find a better rate.
• They will run your credit take a bunch of info and when its all said and dude youll get a check for the purchase amount of the vehicle once you have that number. You will give that check to the dealer and then your loan is against the bank itself.
• Depending on state, the bank will either hold the title, the city will hold it, or you will hold it. Generally speaking if you hold it, it will get stamped with a big red LEIN stamp on it.
• Once the loan is paid off, if you hold the title and it has the stamp, then youll take the lein payoff notice (something you specifically get AFTER you pay the last payment) and the title and have a new title without the stamp issued.
• If the city or bank holds the title, they will mail it to you within 1-4 weeks of paying the car off.
• It is advised that you always hold on to the lein pay off document even after you have the title. If you were to ever lose the title youll need that document if something at the DMV or courthouse is messed up (which happens) if they dont recognize the lein was paid.
• If you lose the lein release before you retitle it, you can simply call the bank and they will mail you a new one. I lost mine from 10 years ago on another car with a local credit union in a different state, 10 minutes phone call and they mailed me a new one.

Financial Stuff:

• If you are paying the vehicle off early, the APR doesnt exactly matter. Ford has no penalty for early pay off if you go with them.
• If you finance with a credit union make sure there is no penalty for early pay off of the loan.
• Paying 65% down is generally not recommended from a financial perspective. You should not be looking at the monthly payment to determine how much to pay as the sole factor for purchasing a car.
• You are better off purchasing at 50% and putting the 15% in a savings account you can earn interest on and pay extra into.
• The reason for this is due to depreciation. Paying such a high amount up front will hurt you in the short term of vehicle as it will depreciate and you wont get that money back if you do sell it.

Great info!! I will do more research!

 

[AlpineBike]

Why?

He’s a pathological liar.
Just read some of the other threads that he’s posted in.

 

[josephp732]

60 Months, $10k down, Ford Credit 5.75%

 

[Ron Quixote]

60 months. 4.04% through PenFed In December.

 

[dolsen]

I actually leased mine, so idk what the APR translate out to be, but I’m sure it sucks lol

 

[scuba mike]

bought Feb 2026 Credit union 3.517% ( long term member 20+years automatic payment have automatic dep. have union credit card) credit score around 815

 

[OxygenMask]

0%

 

[Watchdog62]

So a couple things here:

• You can go to any bank and see what they have for financing. The dealer doesn't care what you pay, and they want you to finance with them at the end of the day, since they get more money
• If you go to a 3rd party, whatever it may be, you simply walk in, if you aren't a customer already you'll say you want to become one and also look at an auto loan. You will meet with their loan department and start going through various approvals. They wont sign you up to be a customer unless the loan goes through, so you can walk away at any time if you find a better rate.
• They will run your credit take a bunch of info and when its all said and dude youll get a check for the purchase amount of the vehicle once you have that number. You will give that check to the dealer and then your loan is against the bank itself.
• Depending on state, the bank will either hold the title, the city will hold it, or you will hold it. Generally speaking if you hold it, it will get stamped with a big red LEIN stamp on it.
• Once the loan is paid off, if you hold the title and it has the stamp, then youll take the lein payoff notice (something you specifically get AFTER you pay the last payment) and the title and have a new title without the stamp issued.
• If the city or bank holds the title, they will mail it to you within 1-4 weeks of paying the car off.
• It is advised that you always hold on to the lein pay off document even after you have the title. If you were to ever lose the title youll need that document if something at the DMV or courthouse is messed up (which happens) if they dont recognize the lein was paid.
• If you lose the lein release before you retitle it, you can simply call the bank and they will mail you a new one. I lost mine from 10 years ago on another car with a local credit union in a different state, 10 minutes phone call and they mailed me a new one.

Financial Stuff:

• If you are paying the vehicle off early, the APR doesnt exactly matter. Ford has no penalty for early pay off if you go with them.
• If you finance with a credit union make sure there is no penalty for early pay off of the loan.
• Paying 65% down is generally not recommended from a financial perspective. You should not be looking at the monthly payment to determine how much to pay as the sole factor for purchasing a car.
• You are better off purchasing at 50% and putting the 15% in a savings account you can earn interest on and pay extra into.
• The reason for this is due to depreciation. Paying such a high amount up front will hurt you in the short term of vehicle as it will depreciate and you wont get that money back if you do sell it.

Sound advice but if you plan to keep 5+ years paying cash saves 1000s in interest depending on loan amount. I finance 15k on mine but decided to pay it off before my first payment.

What do not understand is I know people with 800+ monthly car payments. Yikes!

 

[03GeeTee]

Sound advice but if you plan to keep 5+ years paying cash saves 1000s in interest depending on loan amount. I finance 15k on mine but decided to pay it off before my first payment.

What do not understand is I know people with 800+ monthly car payments. Yikes!

Yea an $800+ car payment just sounds painful. I had a $470 payment on my last truck and I thought that was bad enough. Luckily I was able to afford to get my ranger with only a small amount financed this time around.

 

[some_guy]

Curious did you guys pay in cash or finance? What is your APR? What's your credit? I don't have an excellent one. What APR is a good rate today? Through Ford Credit?

I am planning to trade in for a RR next year.

I paid cash for my RR. I'm not financing anything above 3% , it's not worth it.

 

[boraxman]

Zero - Paid in full.

 

[dolsen]

Sound advice but if you plan to keep 5+ years paying cash saves 1000s in interest depending on loan amount. I finance 15k on mine but decided to pay it off before my first payment.

What do not understand is I know people with 800+ monthly car payments. Yikes!

My last F150 I financed at 0% for 48 months. Cost me $1600 per month. No point in putting cash down if it’s free to borrow. ROI on money market at that time was 5% so I decided to let my excess grow instead of plopping town $77k

 

[bigb]

My last F150 I financed at 0% for 48 months. Cost me $1600 per month. No point in putting cash down if it’s free to borrow. ROI on money market at that time was 5% so I decided to let my excess grow instead of plopping town $77k

Paying down loan interest is what keeps the working person working.

 

[Meatbag]

Ended up with a 5.49% @ 60mo. I paid on it for about 9 months then just a couple months ago, we (wife and I) decided we could just pay the rest of it off. It felt nice paying the truck off with less than 10k miles on it.

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