What is your APR?

[Elgin_Ranger]

Curious did you guys pay in cash or finance? What is your APR? What's your credit? I don't have an excellent one. What APR is a good rate today? Through Ford Credit?

I am planning to trade in for a RR next year.

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[RANGER/HOBB]

Less than 5%.………..local credit union…………excellent credit. However rates are subject to change in the next year especially after an election.

 

[CACTUSGREYFX4]

Paid cash about 19000 for mine.

 

[Elgin_Ranger]

Less than 5%.………..local credit union…………excellent credit. However rates are subject to change in the next year especially after an election.

I think under 5% is a good rate now day.

 

[Elgin_Ranger]

Less than 5%.………..local credit union…………excellent credit. However rates are subject to change in the next year especially after an election.

What's the process like? So you lend money from a local credit union and then pay cash in a dealer?

 

[markal49]

Not sure if you don’t have good credit, but we got 4.99 from Navy FCU.
Might pay it off early anyway as interest rates drop.

 

[RANGER/HOBB]

What's the process like? So you lend money from a local credit union and then pay cash in a dealer?

Everything works thru the local dealership. They offer both Ford Credit and local financial institutions but attempt to put you with the best lenders. You choose……

Much depends upon your credit score, your ability to payback and how much you’re willing to put down. This will tell more what kind of a rate you’ll receive from lenders. We did it to keep our credit working for us, so to speak.

Within the past several years, less than 5% is almost never offered due primarily to actual inflation and interest rates. Norm is around 6..5%, unless you have excellent/outstanding credit and a large sum down payment.

We put a larger down payment of over $25K. We’ll make several payments and then just pay it off without penalty.

 

[Elgin_Ranger]

Everything works thru the local dealership. They offer both Ford Credit and local financial institutions but attempt to put you with the best lenders. You choose……

Much depends upon your credit score, your ability to payback and how much you’re willing to put down. This will tell more what kind of a rate you’ll receive from lenders. We did it to keep our credit working for us, so to speak.

Within the past several years, less than 5% is almost never offered due primarily to actual inflation and interest rates. Norm is around 6..5%, unless you have excellent/outstanding credit and a large sum down payment.

We put a larger down payment of over $25K. We’ll make several payments and then just pay it off without penalty.

Nice! 5% APR for how many months? I plan to put in a 65% down payment and finance the rest. Most likely, I will get the RR in July 2025. One forum member gave his RR order to me, but it's been pushed to MY 25.

 

[stemplar]

Everything works thru the local dealership. They offer both Ford Credit and local financial institutions but attempt to put you with the best lenders. You choose……

Through the dealership is one way to go, but it's not mandatory. You can get a loan from anywhere you want to get a loan from, whether it's a local bank or credit union, or a national bank or whatever. When it comes time to pay the agreed-upon price bring a certified check from the lender to pay for the vehicle.

 

[SubaruRaptor]

Nice! 5% APR for how many months? I plan to put in a 65% down payment and finance the rest. Most likely, I will get the RR in July 2025. One forum member gave his RR order to me, but it's been pushed to MY 25.

So a couple things here:

• You can go to any bank and see what they have for financing. The dealer doesn't care what you pay, and they want you to finance with them at the end of the day, since they get more money
• If you go to a 3rd party, whatever it may be, you simply walk in, if you aren't a customer already you'll say you want to become one and also look at an auto loan. You will meet with their loan department and start going through various approvals. They wont sign you up to be a customer unless the loan goes through, so you can walk away at any time if you find a better rate.
• They will run your credit take a bunch of info and when its all said and dude youll get a check for the purchase amount of the vehicle once you have that number. You will give that check to the dealer and then your loan is against the bank itself.
• Depending on state, the bank will either hold the title, the city will hold it, or you will hold it. Generally speaking if you hold it, it will get stamped with a big red LEIN stamp on it.
• Once the loan is paid off, if you hold the title and it has the stamp, then youll take the lein payoff notice (something you specifically get AFTER you pay the last payment) and the title and have a new title without the stamp issued.
• If the city or bank holds the title, they will mail it to you within 1-4 weeks of paying the car off.
• It is advised that you always hold on to the lein pay off document even after you have the title. If you were to ever lose the title youll need that document if something at the DMV or courthouse is messed up (which happens) if they dont recognize the lein was paid.
• If you lose the lein release before you retitle it, you can simply call the bank and they will mail you a new one. I lost mine from 10 years ago on another car with a local credit union in a different state, 10 minutes phone call and they mailed me a new one.

Financial Stuff:

• If you are paying the vehicle off early, the APR doesnt exactly matter. Ford has no penalty for early pay off if you go with them.
• If you finance with a credit union make sure there is no penalty for early pay off of the loan.
• Paying 65% down is generally not recommended from a financial perspective. You should not be looking at the monthly payment to determine how much to pay as the sole factor for purchasing a car.
• You are better off purchasing at 50% and putting the 15% in a savings account you can earn interest on and pay extra into.
• The reason for this is due to depreciation. Paying such a high amount up front will hurt you in the short term of vehicle as it will depreciate and you wont get that money back if you do sell it.

 

[Brcvac]

Curious did you guys pay in cash or finance? What is your APR? What's your credit? I don't have an excellent one. What APR is a good rate today? Through Ford Credit?

I am planning to trade in for a RR next year.

I purchased my RR July 25, with a credit score of 845, with a APR 6.3%.

 

[AlpineBike]

Until Ranger/Hobb posts any sort of proof I wouldn’t believe a word that he says…
Just a heads up people!

 

[Dingus83]

6.17% through local bank, it sucks but rates are bad now. My Tacoma was 2.99% for 48 mo. I put about $27k down so it's not that brutal in interest and house is paid off so I am not complaining too much, especially when I hit the skinny pedal.

 

[yoopercharged]

Financed the entire thing at 4.09% through Navy Fed. Credit score was probably about 800 at the time.

 

[1986YellowRanger]

Navy Federal Credit Union has the best rates by far! If you or anyone in your family (parents, kids, grandparents, etc.) has served in any branch of the US armed forces you can become a member for free.

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