Financing: Yes or No

[RDgolfer]

It would be interesting to hear who was approved/denied for Ford Credit and what your credit score was at the time of the application.

 

[rooSTer]

My credit score was 675 and I got approved

 

[RDgolfer]

0% or 1.99%?

 

[RDgolfer]

Did you apply online or did the dealer have to edit and resubmit application?

 

[RDgolfer]

My credit score was 675 and I got approved

A few more questions...forgot to reply with quote

 

[rooSTer]

Applied online from Ford's site..you just select the dealer you want the application to go to, got 0% financing
https://www.onlinevehiclefinancing.com

 

[RDgolfer]

Applied online from Ford's site..you just select the dealer you want the application to go to, got 0% financing
https://www.onlinevehiclefinancing.com

Oh I didn't select a dealer...that may be it.

 

[C. love]

i hate financing stuff. It litter ally makes me sick to my stomach

 

[RDgolfer]

i hate financing stuff. It litter ally makes me sick to my stomach

For some of us it is a necessity. And if it is 0% who cares?

 

[MKVIIST]

I also went through Ford and got the 0% financing. No issues with approval as my credit is really good.

 

[C. love]

For some of us it is a necessity. And if it is 0% who cares?

I didn't say I haven't done it or frowned on it (although i do lMAO) I just hate it. At 0% that's not so bad. If possible though I always buy used even at 0% buying a lightly used car will save you more in the long run. I also have a pretty nice credit score (820 range last I looked) and the more crap I finance the less likely that will be there when i really need to finance something like say a house. So in short i hate financing stuff specially things like cars, but because i hate it doesn't mean I wont do it I am just very cautious about doing it and I always make more than my payment and strive to pay the loan off early.

 

[REDST]

I qualified for the 0%. No issues here either.

 

[REDST]

I didn't say I haven't done it or frowned on it (although i do lMAO) I just hate it. At 0% that's not so bad. If possible though I always buy used even at 0% buying a lightly used car will save you more in the long run. I also have a pretty nice credit score (820 range last I looked) and the more crap I finance the less likely that will be there when i really need to finance something like say a house. So in short i hate financing stuff specially things like cars, but because i hate it doesn't mean I wont do it I am just very cautious about doing it and I always make more than my payment and strive to pay the loan off early.

0% is, in a way, free money. I don't like to take out more lines of credit than necessary but when you get 0% interest, you'd be foolish to pay for the car in cash. I'd easily finance $25K (average selling price of the ST) and invest the $25K. You can realistically get 15% return each year on that investment. Plus, if you decide to buy a home at a future time, then just cash out your investment, pay off the car and be done. You'll come out ahead. Talk to your financial adviser. They'll even tell you to mortgage a home even if you're a millionaire and can easily pay cash for the property. They key is to hold onto as much of your own money and long as you can and invest it so you earn interest on it.

 

[C. love]

^Hello average American!! Nothing is ever free. Financing shit just cause is a horriable idea, even if your premise of financing is to invest the cash. You can invest and make money but you can also loose money. I personally prefer to pay in cold hard cash. If investing was a sure thing it would be great to do. however, my guess is if youre driving a fiesta 9 out of 10 times you're not exactly a rich person so betting what little money you have on investing isnt something you would do. although if you were a savvy person i could agree making a return on your money is a good idea. For me personally its nice to know if tomorrow I lost everything I would owe no one anything.

 

[REDST]

^Hello average American!! Nothing is ever free. Financing shit just cause is a horriable idea, even if your premise of financing is to invest the cash. You can invest and make money but you can also loose money. I personally prefer to pay in cold hard cash. If investing was a sure thing it would be great to do. however, my guess is if youre driving a fiesta 9 out of 10 times you're not exactly a rich person so betting what little money you have on investing isnt something you would do. although if you were a savvy person i could agree making a return on your money is a good idea. For me personally its nice to know if tomorrow I lost everything I would owe no one anything.

To each their own.

 

[RDgolfer]

0% is, in a way, free money. I don't like to take out more lines of credit than necessary but when you get 0% interest, you'd be foolish to pay for the car in cash. I'd easily finance $25K (average selling price of the ST) and invest the $25K. You can realistically get 15% return each year on that investment. Plus, if you decide to buy a home at a future time, then just cash out your investment, pay off the car and be done. You'll come out ahead. Talk to your financial adviser. They'll even tell you to mortgage a home even if you're a millionaire and can easily pay cash for the property. They key is to hold onto as much of your own money and long as you can and invest it so you earn interest on it.

Exactly...holding onto savings and paying on a loan you can afford is the way to go

 

[RDgolfer]

I didn't say I haven't done it or frowned on it (although i do lMAO) I just hate it. At 0% that's not so bad. If possible though I always buy used even at 0% buying a lightly used car will save you more in the long run. I also have a pretty nice credit score (820 range last I looked) and the more crap I finance the less likely that will be there when i really need to finance something like say a house. So in short i hate financing stuff specially things like cars, but because i hate it doesn't mean I wont do it I am just very cautious about doing it and I always make more than my payment and strive to pay the loan off early.[/QUOTE
You make no sense...you won't finance a loan for 0% but you will finance a house? Any idea how much interest you will be paying over the life of a mortgage? C'mon man!

 

[C. love]

30 year mortgage aim to pay off in 15 years. you have a car loan or several (like many do) you are stuck as your available funds are being eaten up and you cannot pay more. I dont know about you but a nice house (in my area defined as 200k+) isnt easily payable with cash unless you are very very well off. You almost need to take a loan. Yeah Morgage rates can be high, unless you have good credit and timing. I make sure i have both. In the end homes are generally an investment few cars are an investment

I also didnt say i wouldnt take a 0% loan but if it were between pay cash or take a loan i would almost always take the cash route. If it were deplete every penny from my savings to get a car. I wouldnt be getting a car i would tell you that i would probably get the loan or better yet hang onto the current car. People in this country LOVE to be in debt. CLearly i am not one of them.

 

[RDgolfer]

Well, time to revive a dead thread...tomorrow I will be putting down a $500 deposit on an Ingot silver FiST with the Recaro package....price? $21,800 before tax, title, registration etc...and I will be financing about 16k...I know, I know yeah yeah yeah

 

[rodmoe]

Sweet now that fun begins