Ford and the "The Take Away"

[Bill Ellis]

The original post was about financing yet others have made it into something else. With impeccable credit approvals are nearly instant and revocable once you've signed the loan agreement. If you leave the dealer without signing the loan agreement then you really don't have a loan yet. All you have is a "maybe". I'm not suprised that this sort of thing happens seeing as how many people get upside-down on there car laons and are marginal borrows at best.

 

[Richard L]

Bill,

I agree that in this cas it was a financing problem. But if a person had impeccable credit, they could get much better loan rates from other sources than from Ford Credit.



In the end, the dealer could have used any excuse to back out of the deal based on the contract. In this case it was a financing problem, but it could have been a mathmatical error, or the wrong price was quoted, etc.



When I returned Leased 2001 Sport Trac and purchased my 2003 Sport Trac, Ford and the local dealer had informed me that since I was purchasing a new vehicle they would waive the $250 turn-in fee. A few weeks later I received a bill from Ford Credit for the $250 fee. When I spoke with the owner of the dealership he said that I should not have been charged and he would take care of it, which he did. However Ford Credit's position was that the fee would be waived only if I financed the new vehicle through Ford Credit. This was never mentioned in deal and the dealership knew immediately that I was purchasing the 2003 Sport Trac using the X-Plan and had arranged my own financing. Heck, I even found the vehicle on the Web and asked the dealer to have it shipped down to them so they could get the sale.



...Rich

 

[Fer Echegaray]

Rich,



Not all the time you can get a better rate than the one from Ford Credit, in my case Ford gave me a 3.9%... not bad if you compare the credit union's 4.5% at a time when the banks were giving a 7 or even 8% rate.

 

[Bill Ellis]

Rich, the original post was about the credit terms and you, again, are talking about something else. Is it that difficult to stay on topic?

 

[Yardsale]

Bill-E - Never say never (because you don't know).