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Old 06-20-2003, 02:14   #1 (permalink)
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Ford Credit

Just wondering if anyone has used Ford Credit to finance their cars i was thinking about using them instead of going through my bank.

Any idea on Hire Purchase interest rates?

Any help on this is much appreciated.
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Old 06-20-2003, 02:21   #2 (permalink)
 
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Whatch out - big interest rates. Go for doing it with your mortgage everytime, at least half the interest rate usually.
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Old 06-21-2003, 00:37   #3 (permalink)
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Re: Ford Credit

Yeh i personally dont like Ford Credit, they are very pushy and compare the fine print between them and your bank. AGC/Westpac are usually competitive!!!!!!
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Old 06-21-2003, 01:44   #4 (permalink)
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Re: Ford Credit

I have my Fairlane and 2 Festivas with Ford Credit. No problems with Ford Credit, in 4 years. Fairlane on 5.95%, Festivas on 9.95%.
Like any Finance Company, its the botttom line that you worry about. They are all after your $$$.
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Old 06-21-2003, 01:51   #5 (permalink)
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Re: Ford Credit

Can i ask, is the fairlane on a cheaper rate because you bought it new??or is there another reason for this?
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Old 06-21-2003, 01:57   #6 (permalink)
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Re: Ford Credit

The Fairlane was bought new and Metro Ford (Brisbane) and Ford Credit had a promotion campaign. It was a deal to good to miss.!!!
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Old 06-21-2003, 04:01   #7 (permalink)
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Re: Ford Credit

we have gone with ford credit on the SR2 i believe the interest is 12% PA !!! And theres a fee near the figure of $700 if we are to pay it off early ! I for one will be going to the bank next time
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Old 06-21-2003, 04:25   #8 (permalink)
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Re: Ford Credit

Did you buy it new XR8fella? I ask this because the interest rate is usually lower for new cars than it is for 2nd hand ones.
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Old 06-21-2003, 22:53   #9 (permalink)
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Yeah.. best to do your reasearch and understand all the details.

You need to work out what is best for you.

People who go for low rates don't always get the best loan - it is a HOAX!!! - they often pay a lot more.

i.e. fund your car on your mortgage, and you will pay for 2.25 cars over the 25 years even if you get a rate at half of a personal loan over 5 years.

AND, that is you don't pay all the fees associated with it.

There is normally a reason why a manufacturer sets up a finance company to for their customers - to help sell the car.

Look into it low rate is not a cheap loan.
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Old 06-22-2003, 07:43   #10 (permalink)
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Re: Ford Credit

I went with ford credit, basically cus i knew i could get finance through them - other places weren't so reluctant.

I didn't find them too bad, was getting 13.75% and a bit of bargaining (complaining) got it for 12% :D
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