Financing with ford to get the rebate

[JEFFSMACHINE]

I financed with ford just to get the $500 rebate.
So then I waited to get the loan paperwork from Ford.
2 weeks later, first paperwork arrives, and I contact them to make My own payment arrangements ,thinking I've outsmarted them.
Pay off amount is now $500 more than initial loan balance.
Moral of the story .....if You finance with them just to get the rebate, make the payment arrangements the day after the sale.

 

[blwnsmoke]

Many people finance through Ford to get the rebate and then refinance through their own credit union or bank. I have yet to see a single person get the rebate charged back.

Ford does not have an early payment penalty.. for all they know, you are paying it off with your own cash.

The only one that loses out is the dealership because you need to keep the loan for 90 days or they lose their commission on getting you to sign up with Ford credit.

 

[JEFFSMACHINE]

Sorry , I guess I didn't explain Myself well. I meant that the finance charges for the first month came to $500

 

[LukerDooker]

I financed the minimum amount to get the 500 rebate, i think it was 8000? Not sure but first 30 days were interest free and paid it off so no fees at all.
But that was 2013 and things change every season.

For anyone paying cash, look into the minimum finance amount and see if it can help you get the rebate and not incur fees.

Also they were offering 60 month 0%
on only specific models, not including any Explorers.

They televise these rates to get you in there, but if you look it up 1st you will see what the exclusions are.

 

[tsilney]

I just got 0% for 72 months on my 2015 sport through ford credit...no rebates but got my explorer for 7k under invoice and no financing so it was worth it to take it...no early payoff penalties either...but at 0% that doesn't matter lol.

 

[JEFFSMACHINE]

I just got 0% for 72 months on my 2015 sport through ford credit...no rebates but got my explorer for 7k under invoice and no financing so it was worth it to take it...no early payoff penalties either...but at 0% that doesn't matter lol.

That's a pretty good deal.
I used X plan to buy My 16, and that along with rebates only saved me $3750

 

[tsilney]

That's a pretty good deal.
I used X plan to buy My 16, and that along with rebates only saved me $3750

I had xplan to but it was cheaper without xplan...they laughed at me when I busted out xplan since it was 5k below xplan pricing. Lol...bought it on the last day of the month and quarter ....took the 7k we saved to pay taxes and bought ford's extended warranty with it

 

[JEFFSMACHINE]

I had xplan to but it was cheaper without xplan...they laughed at me when I busted out xplan since it was 5k below xplan pricing. Lol...bought it on the last day of the month and quarter ....took the 7k we saved to pay taxes and bought ford's extended warranty with it

Dang, maybe I could have gotten a better deal then.
The sale did seem to go pretty smooth , they seemed very happy to give me X plan pricing. They were probably laughing behind My back.

 

[lakersfreak]

got my 15 Limited a few weeks ago....0% for 72 months and $6,000 off MSRP.

 

[blwnsmoke]

Sorry , I guess I didn't explain Myself well. I meant that the finance charges for the first month came to $500

$500 in finance charges for 1 month?? Damn, what is your interest rate? That has to be a good 80% of your vehicle payment

 

[JEFFSMACHINE]

$500 in finance charges for 1 month?? Damn, what is your interest rate? That has to be a good 80% of your vehicle payment

I payed it off that day , I didn't pay attention to My interest rate because I didn't think there would be any finance charge if I payed it off before the first payment was due. Boy was I surprised, and they told Me that they charged interest daily.
That's like $16 a day finance charges.

 

[dco43054]

I financed with ford just to get the $500 rebate.
So then I waited to get the loan paperwork from Ford.
2 weeks later, first paperwork arrives, and I contact them to make My own payment arrangements ,thinking I've outsmarted them.
Pay off amount is now $500 more than initial loan balance.
Moral of the story .....if You finance with them just to get the rebate, make the payment arrangements the day after the sale.

The moral of the story is to read all of the finance agreement (which I know is quite long and has lots of details) and understand the implications of each paragraph of the document.

You didn't say how much you financed, or what the rate was, but it would be easy enough to have a monthly payment of well over $500 if there was a large amount financed.

 

[tinner]

I just got 0% for 72 months on my 2015 sport through ford credit...no rebates but got my explorer for 7k under invoice and no financing so it was worth it to take it...no early payoff penalties either...but at 0% that doesn't matter lol.

7k under dealer invoice or MSRP? If its under dealer invoice, that's better than the A and Z plans the employees get for working at Ford. Wow great deal,may be you have bought 2 at that price LOL.

 

[tsilney]

7k under dealer invoice or MSRP? If its under dealer invoice, that's better than the A and Z plans the employees get for working at Ford. Wow great deal,may be you have bought 2 at that price LOL.

Invoice they showed me for xplan pricing was 48500...we scooped it up for 41200...it was the last day of the month and quarter and they told us they were in some competition...I don't ask questions..there were only 3 silver sports in the Chicago area and this was one of them and it was loaded...we wanted captains on 2nd row and this had a bench but the price was right ...and it had a racing stripe that my wife said she hated so they knocked 600 bucks off but after we signed in told then to leave it on .

 

[MikB]

I went through my CC for financing when I bought my Ex recently, I did not get the 500 buck rebate but, did get 1500 dollars cash back so, the price for my Ex was about 37,900. I also traded in my '13 Mustang and that was 7500 bucks I could use for a down payment which, I did. I also qualified for the 500 military discount which I applied for after the sale and they sent me a check in that amount. Instant cash! So, my total finance amount was about 30 grand. With what they were originally selling my Ex for at 43 grand, that's a pretty good deal in my book. 72@2.49 from my CC. No 0% available at the time of the sale.