• Sign Up! To view all forums and unlock additional cool features

    Welcome to the #1 Fiesta ST Forum and Fiesta ST community dedicated to Fiesta ST owners and enthusiasts. Register for an account, it's free and it's easy, so don't hesitate to join the Fiesta ST Forum today!


ST finance

Messages
3
Likes
0
Location
Merthyr Tydfil
#1
Has anyone got credit/finance through ford for a new ST? If so how easy was it? My credit rating isn't amazing but it's around the 640 mark what's the chances of me getting accepted?
 


Messages
480
Likes
132
Location
Glendora
#2
You should be good. Are you putting anything down? Trade in? This sort of thing affects approval as well.

Sent from my SM-G935T using Tapatalk
 


OP
C
Messages
3
Likes
0
Location
Merthyr Tydfil
Thread Starter #3
Yes putting down ?2000, part ex my vehicle in but it's got existing finance so they're going to pay that off - just worried my credit rating won't be high enough!
 


Messages
480
Likes
132
Location
Glendora
#4
Don't think it will be a problem. The dealer wants you to be financed as much as you do so they will work hard with the bank to get it done. Now having a desireable rate is another story. If things are still on the edge just go for the lease and buy it at the end for an additional 2-3 year loan. Should work out about the same, if not better. If you are rolling in a significant amount of negative equity, then the lease might be the better choice anyway. Most leases don't have very high "interest" so you will pay off that negative equity in a short term low interest situation. For a loan you would be paying interest on the negative equity for the entire term at whatever APR they give you.

Sent from my SM-G935T using Tapatalk
 


OffTheWall503

1000 Post Club
Messages
1,991
Likes
455
Location
Memphis, TN
#5
Hit up DCU (Digital Federal Credit Union) for financing.

Ford originally gave me a deal of 5% interest, but I re-financed with DCU to get it dropped down to 3% interest rate. It will save me roughly $2,000 over the time of financing.

https://www.dcu.org/
 


Messages
411
Likes
98
Location
Bedford
#6
First time new car buyer here. I tried to get approved through my credit union but with less than 6 months of credit card history and only paying on my student loans for about 9 months at the time other than that I really had no credit history, but nothing bad on my credit at least. My credit union declined. Couldn't even get a credit card with them. I had $10k down on a $25,400 sticker price and with $2k in rebates after tax it came out to about $25,100ish I believe. I actually got approved through Ford for a $26k car because I wanted to make sure I was approved before I ordered and my car obviously had no VIN at the time. I got 3.65% for my $15,100 loan. Caught me by surprise. I was fully expecting a much higher rate as a first time buyer. After the first payment I immediately started getting all kinds of credit card and loan offers. I recently refinanced through my credit union for 1.8%. Went with 48 months instead of 60 and my payments are the same.

My friend who recently bought a Dodge Charger and had his credit card longer than I had with about the same time of student loan payments initially got 12% interest... They somehow got it down to 6% so he says, but even that is a lot. I was definitely surprised at that one. Curious what he would have got through Ford. He also put $10k down, but his car ended up being about $30k with tax and such.
 


Messages
295
Likes
42
Location
Charlotte
#7
I know things have changed in the markets in a year, but my friend, with basically no credit history at got 0% from Ford. I've also managed 1.79 from a bank and a credit union, even for my first "new" and this was before the age of 25, so limited credit history (buy good).

Sent from my XT1064 using Tapatalk
 


Messages
10
Likes
3
Location
Baltimore
#8
My credit was 620 and I got 0% for 5 years. That was the second ford dealer that I went to. The first dealer didn't even want to deal with me. Just make sure you put a decent amount of money down. It increases the chance of you getting the financing you want.


Sent from my iPhone using Tapatalk
 


OffTheWall503

1000 Post Club
Messages
1,991
Likes
455
Location
Memphis, TN
#9
My credit was 620 and I got 0% for 5 years. That was the second ford dealer that I went to. The first dealer didn't even want to deal with me. Just make sure you put a decent amount of money down. It increases the chance of you getting the financing you want.


Sent from my iPhone using Tapatalk
Wow, 0% is pretty remarkable.
 


Messages
425
Likes
84
Location
Brooklyn
#11
I am financing mine through Ford Financial, 0% for 60 months. I have, according to the Ford finance guy... unbelievably good credit and if I was sure that I only wanted a fiesta and not something more expensive, or maybe pick up a second car on finance.

Moral of the story, build good credit, it pays in the long run. I have some intense numbers for my credit score lol.
 


Messages
5
Likes
0
Location
Houston
#12
Not to hijack the thread but I am probably going to looking for finance soon myself. Hoping my rating of 738 and no student loans help me get a decent rate. I have been checking out a few CUs around and a couple seem to be advertising under 2%.
 


Messages
480
Likes
132
Location
Glendora
#13
Ford is always doing 0% offers for tier 1 and 2 credit, so you might not be looking far.

Sent from my SM-G935T using Tapatalk
 




Top