Interest Rates???

[BRVOL]

My dealership told me today my rate was locked in from the date I ordered my vehicle. So if there is nothing better out there when we finally get to pick up our Raptors this should help.

 

[charlandk]

My local credit union is 3.25% but with excellent credit there’s a 1% savings so I locked in 2.25%. Their lock is in place for 6 months so I’ll have bigger problems than interest rates if the braptor isn’t here by then. 🤣

That’s great. Mine has jumped to 3.79

How many month term for that rate?

 

[RIDE]

My dealership told me today my rate was locked in from the date I ordered my vehicle. So if there is nothing better out there when we finally get to pick up our Raptors this should help.

Good info. Is that from your dealership (e.g. banks they work with) or directly thru ford?

 

[Cupholders]

My dealership told me today my rate was locked in from the date I ordered my vehicle. So if there is nothing better out there when we finally get to pick up our Raptors this should help.

That doesn’t sound right but I hope it’s true

 

[braptor0074]

That doesn’t sound right but I hope it’s true

I’d be shocked if they actually hold rates from March during all the delays

 

[BRVOL]

I’d be shocked if they actually hold rates from March during all the delays

I am skeptical as well. They told me since I ordered it and put a deposit it was basically the same thing as a purchase. I have never experienced anything like this before so I guess we will see if and when they get here.

 

[Panhead]

I am skeptical as well. They told me since I ordered it and put a deposit it was basically the same thing as a purchase. I have never experienced anything like this before so I guess we will see if and when they get here.

Usually what gets locked in at time of order is any potential rebates (there are none) or incentives. I have never seen Ford Credit lock in rates unless it was a subvented rate, like 0% on f150s. As many have said, check with several lenders to get the best rate.

 

[MIBraptor]

That’s great. Mine has jumped to 3.79

How many month term for that rate?

I'm going 72 months. Rate is only 1/4% lower for 60 so negligible difference.

 

[charlandk]

That’s great. Mine has jumped to 3.79

How many month term for that rate?

Which credit Union was that with?

 

[charlandk]

You might they Tower Federal Credit Union. I got turned on to them, initially, via a solicitation in Credit Karma to lower a rate on a loan I had at the time.

Tower Federal Credit Union | MD, DC,VA Bank Accounts | Home Loans

Tower Federal Credit Union, with locations throughout MD, VA and DC, offers our members a range of personal accounts and home loans. Explore products now.

www.towerfcu.org

To be a member at tower you need to work for one of their listed businesses or have a family member as a member. I have neither. They said I could apply if I make a dontation to their charity. I did that and then they told me they are not taking new members. Frustrating! They have the best rates around. 2.79% for 60 months & 2.99 for 72.

Anyone want to let me be an honorary family member?

 

[TCopp]

I live near KC and did a search of credit unions around the area. I chose Reliance Credit Union in KCK. They’ve been really chill. 2.99 at 72 months is what I’m getting. Even after my application expired due to my Raptor still sitting up there, I will be getting the same rate. I’ll go through them if Ford can’t match.

 

[RoBear]

i went thru my Credit Union for 2.99% @ 72 months. Ford Dealership was being super shady about interest rates telling me i was approved at 6.99% for 60 months with Tier 1 Credit. They said the Braptor is a specialty vehicle and that's the lowest I could get. I laughed and came back with a check.

 

[SteelBronco]

So are there any Financial brains on the Bronco Raptor forum getting a BR?
Is it more lucrative to buy the BR outright and be done with any financing?
Or is it better to workout some type of financing through a loan plan with a bank/credit union?

 

[TurboS]

So are there any Financial brains on the Bronco Raptor forum getting a BR?
Is it more lucrative to buy the BR outright and be done with any financing?
Or is it better to workout some type of financing through a loan plan with a bank/credit union?

From Doug, a person that has created an empire from cars.

 

[fuhrius]

So are there any Financial brains on the Bronco Raptor forum getting a BR?
Is it more lucrative to buy the BR outright and be done with any financing?
Or is it better to workout some type of financing through a loan plan with a bank/credit union?

Really depends on the cost of the financing versus the risk-adjusted opportunity to make returns with your money in other places...and also has to factor in your desire for cash-on-hand.

And as with all economic decisions, there's the 'math'...and there's also emotions. Both are valid. Case in point: the debate I've had with my father-in-law many times about why (I view) his putting down a down payment on his F150, when he qualified for Ford's 0% interest rate financing, didn't make any sense. To him it made sense because it got him down to a payment number that he was comfortable with. That makes zero economic sense unless you a) can't find anything to do with your cash tat earns more than 0% interest, AND b) you don't value have more cash, versus less cash, available to you. But it makes sense to him to 'keep his payments under $700 / mo.'

 

[TurboS]

Really depends on the cost of the financing versus the risk-adjusted opportunity to make returns with your money in other places...and also has to factor in your desire for cash-on-hand.

And as with all economic decisions, there's the 'math'...and there's also emotions. Both are valid. Case in point: the debate I've had with my father-in-law many times about why (I view) his putting down a down payment on his F150, when he qualified for Ford's 0% interest rate financing, didn't make any sense. To him it made sense because it got him down to a payment number that he was comfortable with. That makes zero economic sense unless you a) can't find anything to do with your cash tat earns more than 0% interest, AND b) you don't value have more cash, versus less cash, available to you. But it makes sense to him to 'keep his payments under $700 / mo.'

Reminds me when I bought my Z06, a one week incentive opportunity with 60 month 0% interest, people asked me how much I paid and my reply was, "A $20 cash down payment to hold it and that was Too Much".

 

[SteelBronco]

So I watched the video (Thanks) then checked around town on some local interest rates. I can get an excellent rate!
🤔 problem is my inner brain is going Mel Gibson on me and yelling FREEEEEEDDDOOMMMMM!!!!!
But nothing about the Bronco Raptor says to use common sense right? Just go for it?
That kind of " I am William Wallace" moment right??....
Haha, I probably shouldn't be watching Braveheart while replying.