Ford Credit?

I can't tell you what they will put you in but I can tell you to look out for how they put your anto loan on your credit file. our car amount is 16,000 on our report is shows up with all of the interest and all as 20,000. I do not see how this can be legal. everyone I have talked to that has used ford credit has the same problem. Know other car loan I have ever had has shown up like this.

good luck,

Jade031

 

You should be looking at a very low interest regardless of the car make or manufacturer. You have a big down payment and a car loan is secured. Ford has more cars than they can sell right now. The Mustangs are NICE. WOW THEY ARE HOT!! I wouldn't accept over the 5.9% I got on my Camry. My BK was from 97 but I had nowhere near $10K down. Take a pay check stub and a utility bill when you buy. The finance mgr. will want them.

 

With $10k down on a 20 something car, you shouldn't have any problem getting a decent loan.

 

I am not trying to pick a fight with you. Your opinion is respected by me but Toyota Motor Credit just did the same thing to me on my Camry purchase. It is just the monthly payment x number of payments = the loan amount. This is normal.

I don't owe Toyota the principal on the loan. I owe them the principal + interest. I am rebuilding credit so the higher the loan when it is paid off the better I will look.

 

All I know is that is looks funny. we were told that ford use to have a mortgage division and they would do their mortgages the same way. The broker told us that ford got in alot of trouble for that and they no long do mortgages. I will have to ask the broker what the name of their mortgage division was.

Jade031, just my humble opinion ;+)

 

I went through the same thing last year. I wanted the F150 Supercrew, but my scores were in the low 600s and I was worried about financing. At the time the low rate was 8.9 and I wanted it. I also put 10k down and never had a problem, I was approved for it.

I did tell the salesman that I had less than desirable credit and that if I couldn't qualify for the 8.9 I wasn't going to buy it. They are a huge Ford dealer and he said that they had some pull with Ford credit based on the amount of deals they do.

So like everyone else said, with that kind of cash down and on a secured loan to boot, you should be in the drivers seat (pun intended

 

U should be fine but you have to watch out for the sales men..TRUST ME I KNOW THE COMPANY U ARE TRYING TO GET FINANCING WITH..Ford may offer you 7.9 or 10.9 but the DLR may try and offer you 15.9% so that they can get paid from interest on teh back end of the deal..Let the salesman know up front what rate you are looking for...