Ford Canada rates / price

[EG78]

Hi all, Im getting ready to place an order on a 2011 limited 4x4 with NAV, moonroofs luxury seating and the tow package. I have an excellent credit rating.

Apparently Ford Canada wont budge on the %5.99 rate for financing and I am getting about 8% off the MSRP which I am not sure is good or not.

Any suggestions if prices will go down or interest rates or what in the next month or 2?
thanks,

EG

 

[Mishtar]

Is that 8% after you add in the Administration fee's? I saved about 10% before those fees but then only 8-9% after that and some Globali crap was added on. If you own your own house you could do a secured line of credit for 3- 3.5%. Though I thought Ford.ca now shows on their site you can do 3.9% for the Explorer?????

 

[peterk9]

Hi all, Im getting ready to place an order on a 2011 limited 4x4 with NAV, moonroofs luxury seating and the tow package. I have an excellent credit rating.

Apparently Ford Canada wont budge on the %5.99 rate for financing and I am getting about 8% off the MSRP which I am not sure is good or not.

Any suggestions if prices will go down or interest rates or what in the next month or 2?
thanks,

EG

If you were leasing you could knock the interest rate down by as much as 1.5% by putting down multiple refundable security deposits. I don't know if you could do that if you were financing through Ford to buy the vehicle. Does that 8% off the MSRP include the current $1000 incentive? I would think that 8% is pretty good, that is about double what I got off. I have a very simple outlook on things like this in that if you are satisfied with the final deal then it isn't that important as to how much you saved. If it isn't to your liking, walk away. I also have not been charged the $1450 for the delivery fee. That would add to my savings total. One other thing, by getting the Explorer, my insurance cost went down $147/year complared to my '09 Highlander.

 

[peterk9]

Hi all, Im getting ready to place an order on a 2011 limited 4x4 with NAV, moonroofs luxury seating and the tow package. I have an excellent credit rating.
EG

Do you also have the Technology Package? Just curious because when you 'build' the Ex on the website, the Tech Package automatically brings up the Luxury Seating one as well.
And by the way EG, welcome to the Forum. :wavey:

 

[saxyl]

Hi all, Im getting ready to place an order on a 2011 limited 4x4 with NAV, moonroofs luxury seating and the tow package. I have an excellent credit rating.

Apparently Ford Canada wont budge on the %5.99 rate for financing and I am getting about 8% off the MSRP which I am not sure is good or not.

Any suggestions if prices will go down or interest rates or what in the next month or 2?
thanks,

EG

Are you financing over 72 months? Because that is the rate we were quoted for 72 months and the payment was in a better payment range. We were offered 3.99% over 60months but the payment was quite a bit higher. We were going to do72 months until we found out that bi-weekly payments were available. Bi-weekly doesn't shorten your term, just lowers your payment. So going bi-weekly actually made the payments small enough that we were able to do 60mths/3.99%. Bi-weekly payments at 60mths were about $20 more a month than monthly payments 72 mths at 5.99%.
Hope this helps.

 

[EG78]

Are you financing over 72 months? Because that is the rate we were quoted for 72 months and the payment was in a better payment range. We were offered 3.99% over 60months but the payment was quite a bit higher. We were going to do72 months until we found out that bi-weekly payments were available. Bi-weekly doesn't shorten your term, just lowers your payment. So going bi-weekly actually made the payments small enough that we were able to do 60mths/3.99%. Bi-weekly payments at 60mths were about $20 more a month than monthly payments 72 mths at 5.99%.
Hope this helps.

Thanks everyone for your feedback... im fact I was looking at 84 months but come to think of it, 60 months at 3.99 only adds about 80$ every 2 weeks and I save 2 years, I think I'll go down that route and pay a bunch less interest, thanks for the idea!

 

[EG78]

Thanks everyone for your feedback... im fact I was looking at 84 months but come to think of it, 60 months at 3.99 only adds about 80$ every 2 weeks and I save 2 years, I think I'll go down that route and pay a bunch less interest, thanks for the idea!

In fact, just to possibly help out anyone else asking the same questions,
If I pay 5.99% over 84 months on $45,000 at the end of it, I pay ford financing $10,211.52 in interest making the total cost of my car (without taxes) $55, 211.52

If I pay 3.99% over 60 months on $45,000, I pay ford financing $4,717.80 making the total cost of my car $49,717.80

My payments would be 302$ bi-weekly for 84 months or 382$ bi-weekly for 60 months... for a $6000 savings over 5 years... This is a no-brainer,
EG