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GETTING CAR TOMORROW - NEED ANSWERS TODAY!


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Okay so I'm purchasing my 2013 Fusion Hybrid Titanium tomorrow and I'm getting X-Plan pricing and $750 Ford private offer. Now I'm aware the hybrids get an extra $500 off but here's what I was offered from my salesperson:

 

2.9% APR for 60 months

 

or

 

$500 off with 6.99% APR

 

 

Does that sound about right? I thought the $500 off was manditory or just -as is- as a rebate. I didn't know there were qualifications that went with it if you were financing. I mean of course we're all financing, but did you guys get that choice of whether you wanted the $500 off with higher APR or just skipping it so you can get the normal 2.9% APR rate? This just seems like a gype to me. I thought Ford gave this rebate to ALL buyers equally with the 2.9% APR for 60 months. Not that it was an either or senerio...2.9% or $500 off (with 6.99% APR fine print).

 

So what should i do? Demand my $500 rebate because i'm entitled to it as all new buyers are with the standard 2.9% rate for 60 months or pass up on the $500 off because in reality it's only for those who want a higher APR (which to me isn't useful unless you plan on paying the car off in 6-12 months).

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I told my dealer I could get 1.49% financing from my credit union. The dealer were able to get me 1.29% for 60 months through Bank of America and I got the $500 rebate and the $750 private offer. They also sold me the 7 year 100k warranty for $50 over what I could have got it through floodford, but I thought it was worth it.

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Hmmm. It's showing that in my area I can get $500 cash back (alone) or $500 cash back with 2.9% APR for 60 months.

 

The fine print for the second one with financing is to take retail delivery from dealer stock by 6/3/13 (no problem there).

 

$500 back with 2.9% APR seems legitimate to me. Ford.com says its in my area. Now is there any way a dealer could modify this or refuse to make this available for me specifically? Am I entitled to this since everywhere on Fords website and around the net this is the current offer in my area or can they say nopeeee only with 6.99%!

Edited by Powered By Fusion
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The dealer offer sounds like a crap deal. 4% over 5 years, you will pay more than $500 in the extra interest. It's all based on your credit rating and how much they think they you do NOT shop around.

 

Try credit unions, mine locked me at 1.9% & the dealer suspects the can beat it.

Edited by shaggy314
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Okay so I'm purchasing my 2013 Fusion Hybrid Titanium tomorrow and I'm getting X-Plan pricing ......................

I may be too late as it is tomorrow but what they heck.....................

 

In general terms small % points in a auto loan matter almost nothing................but large swings such as those you mention do.

 

It's different depending on many factors but let's take a sample. You borrow 20K @ 2.9 that's 358.49 a month, the same 20K (really 19,500 w/ rebate) @ 6.99 is 386.03. That's $27.54 a month or $1,652.40 over the life of the loan.

 

Which is the better deal? Easy IMHO, the 2.9%.

 

On the other hand around 1% ain't worth the trouble................especially is you have to deal with or line the pockets of garbage like Bank of America (you already helped them enough with your tax dollars).

 

Same 20k @ 2.49% versus 1.99% is $4.28/month or $256.80 over the life of the loan. Talk to your local credit union, they'll be as good or better than anyone AND you won't help dirtballs.

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Looks like I'm either going to go with 1.9% APR with a credit union for 60 months vs. 2.9% going with Ford for 60 months. The savings is several hundred dollars and that's more money putting towards the actual car vs. interest.

 

As for the $500 i'm sure i'll get that. I'm putting my cards on the table and have a pretty convincing argument.

 

What is still in the air though is if I want to just get 1.9% APR with ford for 48 months and save myself the hassle of going with another union and getting approved the same day im getting the car. The car will be ready after inspection in 2 hours. This is so down to the wire.

 

So my real options are can my credit union beat 1.9% APR for 48 months and if so by how much (because if its not that much of a difference then its not worth the headache) I'll stick with ford for 1.9% over 48 months. If I'm going to stick with the 60 months its cheaper and better to go with my union at 1.9% versus Fords 2.9%.

 

My question to all of you now is did you have any problem getting your Rebates or were they just offered to you? Because offering me $500 off but being locked in to a 6.99% APR is just retarded to me and fraud.

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Looks like I'm either going to go with 1.9% APR with a credit union for 60 months vs. 2.9% going with Ford for 60 months. The savings is several hundred dollars and that's more money putting towards the actual car vs. interest.

 

What is still in the air though is if I want to just get 1.9% APR with ford for 48 months and save myself the hassle of going with another union and getting approved the same day im getting the car. The car will be ready after inspection in 2 hours. This is so down to the wire.

Not fraud - they give you $500 & take back in the interest, it's a way to suck the dummies in - lol. Sometimes they're whacky - when I bought Ford was offering $1,000 back OR 3.9% if you financed with them. I flat out asked the finance guy "so let me get this straight you're offering me a HIGH rate OR cash back.....say what?" :hysterical: I mean come on....why the hell would I go with Ford again? At least in your case they're offering an incentive to get hosed.

 

If you can manage 48mths then do so - the shorter the loan the better, you end up having equity in the car faster. You beat depreciation - always good with a depreciating asset.

 

On the points to ponder - finance with with Ford & they get the extra $$$ (interest), with the credit union they do...............one sold you the car & one is non-profit - lol (matters little on your end).

 

FWIW - never worry about time for approval (unless your score ain't the best). If you have $$$ down (i.e. trade) you can sign a promissory note @ the dealer. Just means you have x days to bring them a check (usually 3- 5 business days. My credit union did the loan in under 15 minutes........................everyone is faster then the finance people @ car dealerships.

Edited by Bailey151
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Guest RRF985

My loan is not through Ford. When I got the car in January, Ford was offering 2.99% for 60 mos. I ended up going through another bank for 2.79% for 60 mos. I got the same rebates and x-plan while going to a different bank for the loan. Do whatever is cheapest obviously.

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