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Old 02-06-2003, 00:33   #1 (permalink)
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What interest rate does ford credit have?

am doing some calculations and wanted to know what ford credits interest rate is, does it vary with each person??

whats the best way to finanace a car???
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Old 02-06-2003, 02:03   #2 (permalink)
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I arranged finance outside of the dealership 6.95 % over 5 years with 40% residual. The dealer was quick to match it however I stuck with Creditline who have financed some of my work equipment (forklift for eg.) If you have a registerd business or registered for GST consider a Chatel mortgage, where you pay the GST component in advance and can claim it back in the next BAS. Hope this helps!
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Old 02-06-2003, 05:04   #3 (permalink)
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best advice i could give is shop around and CAREFULLY read any contracts before signing. if you are unsure, seek legal advice on what something means. dont ask the fnance provider cos they shouldnt be interpretting contracts for you.

as for what is best for you, is it personal finance, business, are you looking to lease or ordinary loan etc?
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Old 02-06-2003, 05:12   #4 (permalink)
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I was just shoping around the other week (I just got a new AUIII) and the ANZ was offering 10.4% but then there is all their fees and stuff. Ford Credit was on 10.95% but no ongoing fees.

Just what I found.

Scotty
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Old 02-06-2003, 10:38   #5 (permalink)
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was offered 9% by ford credit...
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Old 02-06-2003, 15:06   #6 (permalink)
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Im getting 8.85%
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Old 02-06-2003, 15:25   #7 (permalink)
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Geezuz

those paying more than 6.90% are being ripped off!!!!!

Refinance!!!!
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Old 02-06-2003, 19:00   #8 (permalink)
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I did some looking around late last year and got bloody confused and took heaps of time.

Seems the rate is not the only thing to consider - you would not believe some of the fees banks charge!!!......... monthly fees... account keeping fees.... $30 fee for a statement....$45 fee for them to send you a letter for being late, $1 a minute fee to speak with a customer service person to help you!!!!.

Check out the fees and the rates and the hassel. This took ages and while the bank could approve in 2 days it would take another two business days to get the money so it could be a week until you get your car.. (I wanted a Barra yesterday -not another week)

Look at the big picture I say.
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Old 02-07-2003, 03:08   #9 (permalink)
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I see the STI Subaru charge 3.9% ..
Laminge:
You will possibly get lower interest rates if you have a house/bussness etc or add it onto that, but thats crazzy. Paying over a longer time...Check also that if you payout early there is no penalty for doing so..
Under %10 is'n too bad, if all your security is in the purchase of the car you want..It's a risk thing...Like insurance..
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