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Anybody refinance from FMC after purchase?

jasonc0604

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So the dealer I'm working with is giving me a deal that is absolutely unreal on a Grabber Blue GTPP but I have to finance through FMC to get it (3.9% for 72 months). My question is did anyone who did a refi have an early payoff penalty and how long did you wait to refi?
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Zelek

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So the dealer I'm working with is giving me a deal that is absolutely unreal on a Grabber Blue GTPP but I have to finance through FMC to get it (3.9% for 72 months). My question is did anyone who did a refi have an early payoff penalty and how long did you wait to refi?
3.9% is kind of high. Are you sure it's really that good of a deal with the amount of interest you'll pay over the life of the loan?

My credit union does 2.15% auto loans.
 
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jasonc0604

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3.9% is kind of high. Are you sure it's really that good of a deal with the amount of interest you'll pay over the life of the loan?

My credit union does 2.15% auto loans.
That's FMC's current offer. That's why I intend to refinance.
 

5OSONIC

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I refinanced after 1 month with no penalties. FMC gave me 4.5% and my local credit union gave me 1.1%
 

Zelek

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Nuked

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I know of a few people that have done this. Finance with FMC to get the avail incentives, then refinance with your local credit union for the better rate. Apparently the dealership can get the shaft on the rebate if you do it fast enough I have heard. Not that it would really effect you in any way.
 

Coyote Red

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I got Ford Credit 0% for 72 months and with my less than $2,500 down payment my note is $600.00 a month, I want it lower but, if I re-fi I'd have interest right? Guess I need to get another job.
 

Jackie Chan

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The best 72 mo rates are mid 2s right now, maybe some low 2s with cu discounts for direct deposit type tbings. Just ask the finance guy or girl how lkng you need to wait so it doesn't hurt the dealer. It might be 30 to 90 days so only a few bucks more Interest at most.
 

Shouldhavegotthegt

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I got Ford Credit 0% for 72 months and with my less than $2,500 down payment my note is $600.00 a month, I want it lower but, if I re-fi I'd have interest right? Guess I need to get another job.
Yeah it would go up. No one is going to refinance at 0%. You just fianaced way too much. At those numbers your car was $43k.

I got mine for $31 and financed $29 after trade allowance and my down payment. Ford offered me 5% at 72 months for $450. Refi through BofA at 2.6% for 48 months for $440 but put another $7k down. Just have about $17k left to pay down.
 

wildcatgoal

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I refinanced a car because I didn't like the original loan company's website... you can refinance whenever you want so long as there is no early payment penalty.
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