Ford Financing Question

[Derek Hale]

Hey all,



I am trying my best to take advantage of this 0% for 72 Months deal. The dealership looked around for ST Adrenalin's for me today, and found only one still available, a Silver 2010, loaded with nav, etc, BUT, it was a Demo and had 2500 miles on it. The dealership knew they had something wanted too so they wont give it to my dealership with any discounts, so forget that.



I asked them about ordering, and they said if I ordered it, it wouldn't come in in time to be eligible for the current 0/72, but I swear that there was a way to do that if you go approved for the financing when ordering or something like that.



Is there really no way if I have to order my ST to get the current months deal?



Thanks!

 

[Jim parnell]

contact ford motor credit directly and inquire there

 

[Jeff Schroeder 2]

Derek...I know for a fact that the dealer will only give you the discount that is applicable at the time of delivery. If they order 1 for you now, and the rebates go down, you get whats available then, not when you place the order. It could work out better for you, and the rebates go up also. If you need a locate on a certain ST, let me know, I work for a dealership and have the ability to locate any vehicle with whatever trim level you want. My dealer I work for did not have any ST's in stock and did a dealer trade with a dealer about 150 miles away...trading a vehicle they needed from our lot, for the ST I wanted from their lot...and exchanged invoices. Some dealers may not do this, because they will not make as much money on the deal if the trading dealer will not exchange cars with them....otherwise they have to buy the vehicle outright, and they lose the dealer "holdback". I would be happy to help you locate info, I just need your city and state and what you are looking for. Jeff.

 

[Carey Frennier]

I sold LM for 3 years. Our dealership recently switched to Kia.



We used to have "Order Protection" Basically it guaranteed you the programs from the order date or better.



I would not buy the demo if they will not discount it. The warranty start date on a true demo was 2500 miles ago. A "Demo" is a new car that was put into service for a dealership. That usually means that the warranty clock is "ticking." This is not always the case.



The other problem with paying sticker for a "Demo" with 2500 is that the car will depreciate more than one with typical new car mileage. 2500 is significant. That should be worth thousands in discount. If it were my dealership demo with 2500 miles on it, I would sell it below or at invoice to get rid of it. Edmunds.com has a great breakdown and an accurate take on dealer invoice.



Even under invoice it's a good deal for them because of their dealer hold back. You can bet that if they have an aggressive program like 0% for 72m for T1-T2 Fico...they've got at least $1000 in dealercash.

 

[Carey Frennier]

I can't wait until this 0% for 72 crap is over. Until that time it actually hurts the resale value of the ST. The STA is a little more insulated.

 

[A K]

BUT, it was a Demo and had 2500 miles on it.

Found one outside of PHL today, but when I called, I was told "the owner has it and won't be back with it until after the weekend". Told them no thanks. No demos.

 

[John Z]

I have always found the 0% deals that auto financing companies offer, to be interesting, in many ways. It seems like in most cases they will find a way to not honor it with most people - no matter how great ones credit score is. Some people will manage to get it, but in reality, most will not walk away with a deal like that. I am sure it is due to the fact, the financing company is making squat on a loan of that type. Now, once they have you in there, and if the customer agrees to lets say a 1% loan, all of a sudden they will start to bend their backs further to help you with your vehicle needs. Why, because they reeled you in, and with even a small interest rate they will make some money off you. It is all a marketing ploy.

 

[Carey Frennier]

0% is no ploy. It sells cars that otherwise would not have sold. That alone pays for the program.



0%, like any low APR, is for qualified buyers. Meaning, you need to be a tier 1 or tier 2 customer. That is usually a 680 plus Fico score.



Just because you have a high enough Fico score doesn't mean you automatically qualify for the program. You also need to have the proper credit history (mature history), a balanced debt to income ratio, and the finance request has to be within 120% loan to unit value (vehicle plus taxes and fees).



If any of the above cannot be met, usually you will not find yourself a tier 1 or 2.

 

[Jim parnell]

I would take a 1%'er loan ANY DAY OF THE WEEK, but the 72 months just sucks imo. 48 months is too long to write checks as well imo, but still like the low rates.



something to consider is maybe a Certified Pre Owned (CPO), I got 2.9% on my 07 CPO which is still better than 5+% IMO

 

[A K]

I would take a 1%'er loan ANY DAY OF THE WEEK, but the 72 months just sucks imo. 48 months is too long to write checks as well imo, but still like the low rates.

Why not just pay more each month and ignore the prescribed term?

 

[Carey Frennier]

^ yup. 1.9% @ 48 months is kind of not a good deal. Especially if you're giving up a rebate to get it. Most low APR deals take place of a healthy rebate. @ 48m the rebates and a low credit union or bank rate (3-4%) will beat 0% @ 48. Low APR's save you the most money if you go 60m plus in term. Maybe even a little at 48m. 0% @ 72 months is awesome...but only if you're going to keep the loan out past 48months. If you know you're going to pay it off early, opt for the rebate instead.