Help with a secured car loan guys plz!!!!! - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars

fordmuscle_83 · 10-26-2003, 23:03

I have got finance through GE and trying to find a car that equals THEIR book price. Dont know where you find cars for the low prices they think there worth.

Today i found an XF s pak for 3grand and the guy at GE says its worth 1700 to them and that they could give me 2000 max for it. They use something called glass guide.

Even looking at redbook the prices are stupidly low.

Just wondering if anyone knows some hints.

Thanks
Pete

blueoval · 10-26-2003, 23:10

Well, your stuck with them now. They are the worst for loans full stop! Sorry for coming across harsh, but they ridiculous for loans with their well inflated interest rates.
It would be easier to get a loan from ya parents or
something.
I got a loan thru them (GE) a few years back and when you add it up you just about pay double by the time you've paid the loan off! Daylight robbery imo. If I was you, I'd get rid of the loan asap.

my 2c

AlbertM · 10-26-2003, 23:12

3K for a XF? Tell him he's dreaming.

You can buy a good EA-EB with that.

fordmuscle_83 · 10-27-2003, 01:52

This XF is pretty sweet. Manual, fully rebuilt engine from local speed shop. Converted to ULP as it was just before. Pacemakers, 2.5 inch zust, 7 months old aircond as it never came with it from the factory, ditto power steer, all the stereo gear (i like my tunes but would never go this far) like jvc head unit, mtx sub, jbl 6x9's, v12 alpine amp, pioner amp, 4inch speakers clutch 10 months old. 90% tires rear, brand new front, moded standard carby. Pretty much most the stuff i would do to a straight rustless 2grand car and spend much more. 180, 000kms. What do you guys thiink?

I know GE is pretty bad as loans go BUT ive got money coming to me in 2 months time (30G) and cant wait till then as i need a car for work.

Pete

redhotxr8 · 10-27-2003, 01:56

For such a short time period do it on a credit card, you avoid the approval fees, vehicle finance reg fees and the early payout penalty - which is the killer. I do finance for a living but sorry cant assist with a small loan like this. - Stuart

GTP 320 · 10-27-2003, 02:04

Good to hear from you Stuart,how's life treating you?
Cheers John

rsgerry · 10-27-2003, 02:23

if there is any way you can get out of the GE deal, do it. they are legailsed gangsters who operate outside any guidelines and with no regard for the consumer.

blackout · 10-27-2003, 03:11

I'm a bit happier I went with Ford Credit for finance rather than a finance company. If you can find anything, go with Ford.

fordfan351 · 10-27-2003, 03:26

I am also in the finance industry, and I would not recommend GE or Ford credit, go with a Credit Union personal loan they have interest rates about half that of Ford Credit or GE.

And try and get an unsecured loan if at all possible

I only do home and investment loans btw

XRFPV8 · 10-27-2003, 10:25

Esanda 6.87% they love me...