Ford Dealer

[Kenner97]

My wife is in the process of trying to purchase an expedition.
Question as we have not bought a vehicle in 7-8 years.

The salesman will not give us an actual interest rate and monthly payment amount? He gave us a range and said we had to sign and commit to purchasing before they would get the finance guy involved to get the actual interest rate and monthly payment.

They are also requiring "Texas Asset Protection" for $995. it had a whole list of things that were included but in my opinion that should be an optional add-on and not required.

Thoughts?

[Mertzon Man]

Interest rates are set by dealers on what your credit score is, lower your score the higher the rate. They should be able to give you an estimated payment if they want to sell you a vehicle.

[7sdad]

You need a new dealership. We just purchased a Jeep and a Ford and didn't have any problems with them giving us the details before signing anything.

[Graysonhogs]

Get in touch with Holiday in Whitesboro. I bought my last truck via texts and emails. They don't waste time with the 1980s BS sales tactics. Once I agreed to terms, I drove over there and was leaving in my new truck in 20 minutes.

[Kenner97]

Thank you for the information.
I will look to see what Holiday has.

[Clay6x45]

Arrange your own financing with credit union or bank before going to dealership. Let them know the only way they can finance the vehicle is if they beat the rate from your bank.

[DUKFVR]

My wife is in the process of trying to purchase an expedition.
Question as we have not bought a vehicle in 7-8 years.

The salesman will not give us an actual interest rate and monthly payment amount? He gave us a range and said we had to sign and commit to purchasing before they would get the finance guy involved to get the actual interest rate and monthly payment.

They are also requiring "Texas Asset Protection" for $995. it had a whole list of things that were included but in my opinion that should be an optional add-on and not required.

Thoughts?

Tell them to pound sand & walk.

[ttechdallas]

Not defending the dealership, but the salesman is not going to have any specifics on payment amount because that will be established by the lender after an application is submitted. Most dealerships I've dealt with are reluctant to even run credit unless there is a signed offer on the table.

Check the dealership's website because they probably have an online tool you can look at, plug in your desired terms, and see the payment range you're looking at. Assuming those are the terms the lender approves, it should be very close. Cars.com and Autotrader both have those online calculators too.

[Spearchunker]

Just dealt with this at Rockwall Dodge. I played along and went into finance dept after I agreed to truck price. I had ordered it and waited 14 weeks. We already had an agreement. But sales was not allowed to discuss rates.

I already had my bank ready to go, but kept that to myself. Wanted to see what they had to offer. They were high buy 2 points. As soon as I said cool I have my own bank ready they were able to negotiate thay rate down. Lol they came down 2.5 pnts in 10 min.

So rates are negotiable when you get to that room fyi.

[Barney1971]

Arrange your own financing with credit union or bank before going to dealership. Let them know the only way they can finance the vehicle is if they beat the rate from your bank.

this 100% walk in there with some leverage. they will put the screwin to you if they can. check interest rates at your banks and some credit unions. even get approved for a loan before you start the buying process. only way they get to finance if if they beat the rate you already have.

[RedDogOutdoors]

I work in finance at a Ford dealership, you are better off going through a private bank/credit union at this rate. With everything going on with the Government interest rate are sky high even for people with exceptional credit. 8 months ago a 700 score was a buy rate of 2-3%, now 800's are coming back at 4%. Unless the dealer is doing in-house financing, you can't have a set APR unless you run credit and go through the finance office. Never heard of having to sign something to have your own credit ran on a deal, but its a little different out here in the sticks. Also all that extra BS I hear about these other dealers is atrocious, and what is leading to the extinction of dealers as a whole (mixed feelings about that lol).

[captainsling]

Best thing is know you’re credit score and what rates you qualify for at your own bank. Have a budget and know the price of the vehicle you are buying. Either you can afford it at the rates you know or you don’t.

[Kenner97]

What about the Asset Protection? Just an add-on?

[captainsling]

What about the Asset Protection? Just an add-on?

Read it. Sounds like maybe a gap policy. Add on!

[JTCowpoke]

What about the Asset Protection? Just an add-on?

I'm sure that is what they are calling GAP insurance. If you have a decent down payment or trade in then you probably should decline it.