Alphawolf44 Posted April 23, 2013 Share Posted April 23, 2013 Does anyone know if ford motor credit will help you out as far as financing a new vehicle if you have really bad credit, are a current hourly employee and want to finance using payroll deduction? Any help will be greatly appreciated. Quote Link to comment Share on other sites More sharing options...
Guest abjb Posted April 23, 2013 Share Posted April 23, 2013 Have you checked with your credit union? On a related subject. I've told my son, before he even had a credit score, "I've NEVER made a car payment and never will." LUV that payroll deduction, never see/feel the payment. But he wont do it, he squeezes every pinny as long as he can. Quote Link to comment Share on other sites More sharing options...
fordguy61mi Posted April 23, 2013 Share Posted April 23, 2013 I've found that Ford Motor Credit is a lot harder to get financed with than a credit union. I'd go with that instead. Quote Link to comment Share on other sites More sharing options...
SU-FI Posted April 23, 2013 Share Posted April 23, 2013 (edited) I dont believe they will, at least they wouldnt finance my ex who had bad credit. Edited April 26, 2013 by SU-FI Quote Link to comment Share on other sites More sharing options...
lovelincolns Posted April 29, 2013 Share Posted April 29, 2013 I worked with someone before I retired (about 7 years ago) who was turned down by Ford Credit because he had bad credit. He eventually got credit from GMAC and bought a Saab. Quote Link to comment Share on other sites More sharing options...
carguy Posted April 29, 2013 Share Posted April 29, 2013 It is as easy to remove yourself from payroll deduction as it was to get on. If your credit is not good enough to get a loan on it's own payroll deduct won't help you. Quote Link to comment Share on other sites More sharing options...
qwertyuiop Posted May 2, 2013 Share Posted May 2, 2013 I believe your FICO score has to be at least 580 to even qualify for FMCC financing. If your dealer pokes and prods them they may be willing to bend, but don't count on it, or be willing to put down a HEFTY down payment. They wouldn't come close to me, but my dealer went straight to the analyst and they eventually did bend, but I would have had to put down $8,000 - wasn't going to happen. Thankfully I did end up getting financed, but if you can get FMCC, go for the payroll deduction - you won't even miss the money once you have it. Quote Link to comment Share on other sites More sharing options...
mechanic Posted May 3, 2013 Share Posted May 3, 2013 I'm at 620. Fmc wouldn't go 19k for a used car, but offered a decent rate on a new flex. Ended up going used at my credit union at 6%. And they do weekly deduction just like fmc. Quote Link to comment Share on other sites More sharing options...
bobfily Posted January 30, 2022 Share Posted January 30, 2022 On 4/29/2013 at 4:32 AM, carguy said: It is as easy to remove yourself from payroll deduction as it was to get on. If your credit is not good enough Go Now and check to get a loan on it's own payroll deduct won't help you. Credit rating of each consumer depends on various factors such as on-time debt payments, debt utilization rate, the length of the credit history, and the presence of any derogatory marks on the reports. Each of these categories affects your ability to qualify for credit products in the future. If you decide to check your credit, it won’t lower it. But if a lending company or some other service verifies it with a hard inquiry, you may get your rating lowered by a few points. Quote Link to comment Share on other sites More sharing options...
road turtle Posted January 30, 2022 Share Posted January 30, 2022 Holy dead thread revival. 9 year old thread??? 1 Quote Link to comment Share on other sites More sharing options...
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