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Discussion Starter #1
Curious if anyone would like to share details on their financing? I have used Ford Motor Credit in the past, and I'm a USAA member as well, the majority of cars I buy I finance through USAA. I'm curious if Ford is offering anything good for the Focus ST in regards to financing.
 

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My dealership always gets me the best deal. If Ford Motor Credit is offering competitive rates then that's who I go with but lately, local credit unions have bested them so I've not used Ford. Best to shop around enforce going in to do the deal as lender are often willing to meet or beat a quote.
 

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I have used Fmc and had a good experience as well. Remember that the dealer should get you a better deal on your car if you let them find financing for you since they get kickbacks from most financial institutions and the higher they get the interest rate, the higher the kickback. I usually go into a dealer armed with a couple of financing options preapproved from my banks and credit unions. I usually find that they will match or beat the financing of the offers I have but not at first. For example if I dont tell them what I can get, they'll come back with something like 5%. Then I tell them I can get 1.9% from my credit union and then suddenly they can get me the same rate from one of thier banks. Usually if there are special financing deals through FMC however, that is the easiest way to go.
 

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Discussion Starter #4
I'm tempted to let them prequalified me with FMC or dealership financing to see if that help with better pricing. I know I can get good rates with some of the local credit unions or USAA so I can fight to cut out the middle man.
 

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I'm looking at either my local CU or Ford Financing, whoever gets me the better rate.
 

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My CU is currently doing 2.69% for 60 months and most likely I'll be using them when I eventually go get the loan. Since there is no delivery date yet I haven't gone down to the bank to discuss it. I plan on using my CU and will only go with what the dealership offers me if they can undercut that by a significant margin which I highly doubt. I like to keep my auto loans at my CU for auto-payment benefits they give me and they usually have the best rate in my area.
 
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I'm tempted to let them prequalified me with FMC or dealership financing to see if that help with better pricing. I know I can get good rates with some of the local credit unions or USAA so I can fight to cut out the middle man.
I would get pre qualified with the other sources then go to FMC. you'll have more bargaining power
 

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Is it you or your parents in that income tax bracket?
 
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Discussion Starter #19
cash is king :thumb:
True, but spending cash on a depreciating asset isn't very smart either. If you are buying things of value yes cash is king, for things that are throw away like cars. Mitigate your losses as much as possible, ie 1.99% over 60 months on a 29500 dollar car is only ~ $1500 in interest over the life of the loan.
 
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