Ford Credit - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars

Fordy · 06-20-2003, 02:14

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.

NZ XR8 · 06-20-2003, 02:21

Whatch out - big interest rates. Go for doing it with your mortgage everytime, at least half the interest rate usually.

06-21-2003, 00:37

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!!!!!!

casrms1450 · 06-21-2003, 01:44

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 $$$.

Fordy · 06-21-2003, 01:51

Can i ask, is the fairlane on a cheaper rate because you bought it new??or is there another reason for this?

casrms1450 · 06-21-2003, 01:57

The Fairlane was bought new and Metro Ford (Brisbane) and Ford Credit had a promotion campaign. It was a deal to good to miss.!!!

XR8fella · 06-21-2003, 04:01

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

Fordy · 06-21-2003, 04:25

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.

Bluey · 06-21-2003, 22:53

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.

St00 · 06-22-2003, 07:43

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