Who financed with Ford then immediately refinanced with another lender?

[spectre446]

Is this feasible? I've seen some abysmal rates with Ford financing but the rebates are better. Can you get the best of both worlds by immediately refinancing after driving off the lot?

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[spitteler]

I was told by my dealer that you had to wait 4 months to refinance or it would invalidate the $1,000 rebate. Maybe a dealer on the forum could verify? I plan on refinancing with a local credit union or paying off the note after that period expires.

 

[Roady]

I plan on doing this. My dealer said I could do it the next day if I wanted, but recommended that I wait at least one billing cycle to avoid any potential paperwork nightmares.

 

[Agashi25]

Financed with Ford at purchase date 2/17
3.89 72mo

I was lazy the last few weeks.. refinancewith US bank on 3/5.
2.3 72mo

you do not need to wait any amount of time to refinance. You can do it ASAP. US Bank didn’t even need my account# from fmcc or payoff amount. They pulled that all from the credit bureau.

 

[Hullguy]

It’s your money! Ford can’t dictate what you do with it. In 2013 I financed through Ford and immediately refinanced through my credit union. Doing the same this time

 

[MitchAK]

Salesman told me to get all the rebates I would have to use the finance. I flew up yellow flags. He told me not to worry if I’m paying it off anyways. Of course a salesman saying not too worry is literally him creating worry, ?.
From what I heard and it could be BS, the dealer gets those rebates dollars from Ford. Something like 90 days after the contract is when the rebates processed to the dealer. If customer bails on the qualifying in that time it’s the dealer who eats it. From what I understand.
I vetted all the same questions through the other F150 forums and came to the comfortable conclusion that I would finance FMCC and then immediately pay off, refi or cash don’t matter.
I still had my 2016 F150 on a 0% interest loan when they offered me 6.79% on the 2021 Powerboost. That was to get like $3500 rebate or what not, and I had X plan and a total of 4 rebates on my F150.
I felt comfortable and signed it. Made my first payment and now I’ll do the same as everyone else. Pay it off.
I would stay with FMCC if it was reasonable but it just doesn’t make any sense with most all of us buying these trucks have great credit, and it’s a buyers market for borrowing capital.

 

[mustanga10]

I was told by my dealer that you had to wait 4 months to refinance or it would invalidate the $1,000 rebate. Maybe a dealer on the forum could verify? I plan on refinancing with a local credit union or paying off the note after that period expires.

I was told I could refinance immediately and I did just that. I completed the paperwork approximately 1 month ago and have had no problems.

 

[machz]

FYI it's actually illegal for them to tell you that you have to wait. You can refiance the next day and you will not have to pay the credit back.

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