Originally Posted By: wtd
Originally Posted By: JHZR2
Why doesn't she put in an application at a bank or cu? What they come back with will be most telling. Does she know her credit score?
If she can afford the vehicle, why not pay cash and be done?. Financing does not equal affording. The market is due for a correction, but it hasn't happened yet and may take a while to occur and bottom, so now is a good time to have cash and use it.
The magnitude of the finance level, plus downpayment, plus loan to income may factor in.
Just to confirm, she has to finance through the dealer to get the rebates? Not pay cash or third party check? Does the financing have a prepayment clause?
I agree something isn't exactly right..
Yes, she has to finance through the dealership to get the $1,500 rebate since it's tied to Ford Credit. Since some people are not reading my posts, she knows she can get better rates through other channels so she is not forced to finance through Ford. She just wants all of the rebates for this truck.
The thing for both of us is the principal of the matter and that it seems like someone is trying to screw us royally on this financing.
Got it; two things to consider. Another dealer can give the same rebate and might not rake you over the coals with his rate. If she does the deal at this dealer and does the 7%+ rate, refinance the loan the next day. BTW if you tell the dealer you are going to do this they probably will tell you that you cannot do it for X amount of months. Hogwash...you can do it the next day. They lose some money if you do it too quickly (3 months?) so tell them your intentions; they might "find" a better rate.