I bought my 2004 SCREW a month ago and received the $2500 rebate plus $1500 for using Ford Credit. I told the sales guy I could get 4.5% elsewhere and would refinance if Ford was higher. Lo and behold, Ford Credit offered 4.5%. It seems everything is negotiable

 

why u gus got such high interest rates?? 1.9 at the dealer here with dealer rebates

 

That's if you give up the vehicle rebate. You know, $3000 rebate OR 1.9%. They're talking about an additional rebate from Ford Credit just for financing with them, in addition to the rebate-or-rate incentive. In most cases you're better off taking all the rebates you can, even if it requires a higher-than-normal interest rate, then pay off the high-rate FMCC loan with one from your local bank or credit union.

 

I've heard different answers from different finance guys from the same dealership. I, too got a home equity loan and am planning on paying off the Ford credit loan. I was told a good point..... Don't pay it off in full at the first month. If they didn't receive the title for your truck yet, it will make things very confusing. Pay most of it off the first month. Wait an additional month and contact Ford Credit to confirm that they received the title. Once verified, the second month, pay off the rest. Much cleaner and might avoid a delay in receiving your title.

 

I recieved $1000. rebate financing through FMC,I have to keep it there for at least three months.

 

Good point if you're in a state where the bank holds the title. Here in NY, the owner gets the title upfront, with a lien on it.

 

Talked to the sales manager at my dealership. He called the regional manager and neither one of them has ever heard of a prorated portion of the rebate being collected if you pay off before 90 days.

 

My sales rep said that Ford Motor Credit 'frowns' on the dealership if the customer gets the finance rebate and pays the loan off within 90 days. Not 100% clear what 'frown' means. Out of respect for his request to wait 90 days, I will.

 

"Frowns" means that it's going to cost the dealer money. Ford Motor Credit makes more money than they know what to do with, and their policies are down-right infuriating at times. Nothing would bring me more happiness than if I could actually figure out a way to cause FMC to "frown." Too many times they stand in the way of Ford dealers selling and delivering vehicles.

 

I was also told that the waiting was primarily for Registry of MV to get the title over to FMCC. Otherwise if your new loan company tries to get the title from FMCC they will not have it and the new loan co. might call your loan. Sounded about right to me. No time restriction just call before paying completely off and make sure the title is available for the new lender.
Rick

 

I was also told by the dealership I needed to wait 90 days before paying off the loan if I took the 1000 rebate.