and what apr were you able to get? My credit is as good as it gets, my credit score is almost 900. 6 years ago when I purchased my first new car I was insulted when Ford credit only wanted to give me a 12% interest rate even though my credit was good then as well. My credit union is offering 4.5% on a new car.
Who financed through ford credit?
- Thread starter GTlust
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Infinity
Founding Member
I got mine at 3.9%. IDK my score right offhand, but it is excellent. If they go any higher, walk away.
GTlust said:
Credit score is extremely high but they offered me a deal on the car. So I just walked across the street and gave my bank my loan. No big deal. Typical dealership games to get a good sales price.
Also, keep in mind rates increase with larger loans and longer terms. I did not finance a $27k GT afterall.
abouttobeglue
Founding Member
i got 12 from ford credit, 640 score, tried credit unions, have no idea how they do credit, it was a 540. dont have bad credit, just have a house and 2 cars, i guess at 25 its considered too much credit, i have no credit cards. im going to refi at after , in august when the other cars paid for, should raise my rating hopefully.
cowtown
Founding Member
I got 5.9% which is the standard Ford Credit Canada rate for purchase (lease was 9.9%). It was also the rate being currently quoted by my bank.
I had to spend a while building my credit back up after I closed a business and moved and now that it's the best it's ever been I may not be as astute at fighting for better rates. Though I was pretty happy with 5.9%.
That being said remember this is Canada so a different economy and interest rates up here.
I had to spend a while building my credit back up after I closed a business and moved and now that it's the best it's ever been I may not be as astute at fighting for better rates. Though I was pretty happy with 5.9%.
That being said remember this is Canada so a different economy and interest rates up here.
I got 7.9% on 72 months back in Nov. '05. At the time, my credit score was a 700. The dealer tried to stick me with an 8.9%, but I knew they always add a point to their buy-rate.
I know the 7.9% is still a little high-ish, but this was my first new car in my name ONLY so I knew I'd have somewhat of a premium; and I am not a member of a credit union
My last new car (2003 Subaru Impreza bought back in Dec. 02), I had a cosigner. I had 3.9% on 60 months for that car financed through Chase/Subaru.
I know the 7.9% is still a little high-ish, but this was my first new car in my name ONLY so I knew I'd have somewhat of a premium; and I am not a member of a credit union
My last new car (2003 Subaru Impreza bought back in Dec. 02), I had a cosigner. I had 3.9% on 60 months for that car financed through Chase/Subaru.
FLY2kGT said:
Your right, i could not remember if it went to 900 or not. My score 2 months ago was in the 800's and so was my wifes. I think she is riding my coattails though since i'm 4 years older than her and have had good credit longer. I think I was 827 and she had 807. I was a little upset that it was not perfect since i've had established credit since I was 19 and i've never missed a payment on anything in 14 years. I've read how they calculate the score and only 35% is from your credit history. Having credit cards that aren't maxed out actually helps your score compared to having none at all. My truck is payed for and my wife has 1 payment left on her 2002 pt cruiser which is why i'm looking for a new car. I need that car payment to keep me from tell my boss where to stick it!
