Ford was offering zero percent interest loans for 72 months – even for consumers with poor credit.
2006-09-08 15:41:16 · 6 answers · asked by Dfwteddybear 7 in Cars & Transportation ➔ Buying & Selling
I sell Fords and I happen to KNOW that most of the other answerers are wrong !!!
Ford announced to ALL it's dealers that it would approve 0% financing for up to 72 months for applicants that scored 'levels' 0 through 5.
This promotion ended on August 5th.
All I can say is MANY people who normally would NOT have been approved DID get approved
I work in an 'Auto Mall' with 12 manufacturers, and the Ford Dealer was SWAMPED !! The other dealers were not !
And contrary to the other answerers VEHICLES WERE discounted as usual.
2006-09-09 16:16:20 · answer #1 · answered by Vicky 7 · 3⤊ 0⤋
Depends on what your financing. If your going for a new Ford vehicle..then its the best place because the offer subvented interest rates (0%, 0.9%, 1.9% . . .) But when you are financing a used vehicle, then you end up with the 9%, 10% offers and going through a differnt bank is probably best. Interest rates usually depend on your credit. Ford Credit, GMAC, Chrysler Financial and all the other dealer lending centres are Banks just like any other bank. You can buy houses through them. For credit is in trouble and ford is looking to sell it, but its still a good company to deal with for NEW vehicles. Always check interest rates, and get try to get offers from more than one bank, but don't shop to many banks becaause it hurts your credit score everytime you submit an app to a bank. You become known to the buyers as a "credit seeker"
2016-03-27 03:33:04 · answer #2 · answered by ? 4 · 0⤊ 0⤋
ZERO percent financing is never real....period.
Exactly like someone else has said prevously....if you take a 0% you will pay sticker price...usually cash price is THOUSANDS of dollars less. There is an example I like to use...
Back in 2004-2005 you can go to GM and buy a CAVALIER for $12000 - $15000 dollars cash, If you took the 0% percent financing you would be paying $17000-$21000 for the same vehicles (this is in Canadian Dollars) SO...is it truly 0 percent financing?...no....not at all. Usually it would pay to go in and take all the cash discounts they offer and go arrange financing at YOUR own bank...chances are you will still save 100$'s if not $1000's of dollars....
Oh and by the way....0% financing only applies to good credit....its always O.A.C.
2006-09-09 02:10:55 · answer #3 · answered by B_Auto 2 · 0⤊ 1⤋
No they weren't! Read the fine print on the advertising! The 0% offer is limited to "well qualified customers." The next line says, "not all customers will qualify."
Even for someone with top-shelf credit, it's still a come-on. If you go for that deal, you won't get a dime off of the sticker price for the car.
2006-09-08 19:42:59 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 1⤋
Well i would say you should not go for 0% financing especially with poor credit because that will screw you up big times if you got in a collision or something. It's ok to use that kind of financing if your planning to buy a used cheap car but never for a new car!
2006-09-08 15:47:22 · answer #5 · answered by The_Pool_Pro 2 · 0⤊ 2⤋
I think you had to have a beacon of 720 or higher to qualify for this. As your score goes down, the interest rate went up.
2006-09-08 15:44:14 · answer #6 · answered by up all night 4 · 0⤊ 1⤋