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smr2112

Paying Off Ford Loan

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Looking at getting a 2017 FFE. The overall incentives and pricing are very aggressive. One incentive is based

on taking a Ford loan - non 0.0% rate. I had been planning to pay cash outright with my trade, but for the extra

$500 or so, I'd take the loan and pay it off ASAP.

Does anybody know for sure what restrictions there are with Ford Finance in paying off a loan? Does it have to

be at least a few months out? My sales guy was guessing 2-3 months, but he really didn't know. I'd have to figure

you could pay it off at anytime as most people won't do that. It's really just another sales tool.

 

If you are interested in anything plug-in (PHEV) or all electric like the Focus, there are alot of Ford incentives.

Plus a Federal tax credit of $4007 for the Energi and many states have rebates too. Pennsylvania has a $2000

(cash to you!) rebate, but there are only 250 of these for 2016, but many still remain - otherwise a $1000 rebate.

Not much for the hybrids, but if you plug it in, you can get a great deal.

 

When you figure that all in and take the incentives sends directly to you. That knows the price of the $43k Ford

Fusion Energi Platinum down $10,000+ - which is great compared to what it was a few years ago.

The sales guy, who I bought my 2013 FFH from and met with get me the full details of how pricing from Ford and

dealer incentives work. He was amazingly honest and alot of it I knew. He said car costs/pricing/profit is a a new

ball game over the past few year.

 

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Does anybody know for sure what restrictions there are with Ford Finance in paying off a loan? Does it have to

be at least a few months out? My sales guy was guessing 2-3 months, but he really didn't know. I'd have to figure

you could pay it off at anytime as most people won't do that. It's really just another sales tool.

 

June 2010, we bought an Edge and got a $2,000 rebate for using Ford finance at whatever rate they offered (4.9% or 6.9% or whatever it was) - refinanced with our credit union a month later and they paid off (xfer'd) the Ford credit loan so I didn't pay any finance charge.

 

I specifically asked the finance guy during the purchase if I could pay it off right away and he said there were no restrictions (so we did), so be sure to ask your finance rep during your purchase to make sure the conditions haven't changed.

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Thanks and that's what I'd assume. He told me the finance guy would be the one to ask and would explain it all.

I can't figure there is any ethical loan on the planet that can't be paid off at any time without penalty. I did say "ethical loan".

 

The seats in the new Platinum Fusion are very nice, if you can live with the light color material. Looks nice,

feels great, but will it stay that way?

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It's not what the finance guy tells you... it's what your contract states. Make sure it specifically includes language that says there is no penalty for prepayment.

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