2020/21 Shelby GT500 Financing (Interest Rates)

Helios

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First of, sorry if this is not the right place for this kind of question but, i can't get my answer from dealership without getting push into purchasing or providing social insurance number or info that i prefer not give over to complete stranger.

Im simply curious and i would like to know what these car finance for using the ford credit (dealership).

My credit score is outstanding (800+) and have 0 missed payments or any issue ever happening. This would make me qualify for the best possible rates offered.

The ford.ca website shows up 7% interest rate and i just can't believe anyone would buy a 100k+ shelby excluding possible markup at this much interest, dosn't seem to make any sense to me. So hence why i come here to ask personally those who really own one and can help me out figuring numbers and what i need to save up to afford one. I sold my 18 GT last year and since then i am taking care to pile up for one eventually

So far if anyone know id like to have

72 month
84 month
96 month (if ford goes up there ?)

thank you.

 

fishpick

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Most dealers (here in NY at least) have relationships with local lenders and offer their rates through them. You often will find if you get the loan at your own bank and allow direct payment the bank will cut an extra 1/4 point off the rate as long as you keep the auto-payment active.

So - ask your dealer who they look for financing through... and that's the banks that you can get the rates from...

My last 2 cars have been through the dealer for financing - but I told them I wanted them to use my bank - so they did - and after the deal closed I told my branch manager to link up the loan - and I got my 1/4 point off... your mileage may vary.
 

RPDBlueMoon

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First of, sorry if this is not the right place for this kind of question but, i can't get my answer from dealership without getting push into purchasing or providing social insurance number or info that i prefer not give over to complete stranger.

Im simply curious and i would like to know what these car finance for using the ford credit (dealership).

My credit score is outstanding (800+) and have 0 missed payments or any issue ever happening. This would make me qualify for the best possible rates offered.

The ford.ca website shows up 7% interest rate and i just can't believe anyone would buy a 100k+ shelby excluding possible markup at this much interest, dosn't seem to make any sense to me. So hence why i come here to ask personally those who really own one and can help me out figuring numbers and what i need to save up to afford one. I sold my 18 GT last year and since then i am taking care to pile up for one eventually

So far if anyone know id like to have

72 month
84 month
96 month (if ford goes up there ?)

thank you.
You might get a better deal with your bank. 7% is through Ford, other banks or the dealership might have a lower interest rate. I have a GT350 but with all of the additional fees and cost of warranty everything came out to 80k which would be in the ballpark of a GT500.

Like you I had really good credit. ~750 was my score. Never missed a payment on my other car, and I paid it off early.

It was either a 72 month or 60 month loan I don't remember, but it was at a 5% interest rate which is really high and I thought it was kinda stupid. Not sure why it was so high considering I had good credit, lol I thought the whole point of good credit was to have lower interest rates. It might have been high because of my age.

I put down a really big down payment and financed the rest. The high interest rate didn't really bother me because I was deadset on getting my car and I am going to pay it off this year. Can't really do anything because of COVID so I'm just making aggressive payments

I can go through my paperwork and share with you the specifics if you want. I looked at my bank, USAA and the interest rate was like 4%. On my last car the interest rate was only 1% and that was through Toyota. Got a really good deal because I got it during a special promotion through Toyota when I was in the Army. The loan I have now is not through Ford, it's through the dealership's local bank which is TD Ameritrade. I didn't shop around because of COVID, and the cases were bad where I was when I got my car during the summer.
 

Decible

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Not a GT500....but when my car finally got here in December of 20 my dealer got me 72mo at 3%. My score was 792. It’s through FCB.
 

peoples1234

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Use your own financing. You don’t need to go through the dealer.
Definitely get approved with your own financing, but don’t always assume the dealer can’t beat it. The last two time I bought a vehicle, I arranged my own financing at my CU. Both times Suntrust through the dealer beat the rate.
 

Snakecollector

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I’ve used LightStream in the past. It’s an unsecured loan so you keep the title.
 

AngelDeath

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Look at Bank of America, I got my loan from them @2.93% for 72mos, Best rate I got from anywhere. CS: 800
 

mds3606

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I would also suggest looking into a credit union if you are eligible . I was able to get 3% for 60 month on a used car. I just checked my credit union. Rates as low as 2.99% for 60 months. with longer terms available. I'll be calling them when my 21 Gt500 is built.
 
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Ablaze

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800+ credit score. Dealership said they could do 3.8%. I told them I had already checked with my bank (credit union) and could get 2.29%. Dealership came down to 2.19%.
 

AngelDeath

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800+ credit score. Dealership said they could do 3.8%. I told them I had already checked with my bank (credit union) and could get 2.29%. Dealership came down to 2.19%.
Actually mine did the same thing, Originally they said the could do 4.5% @72mos and when I said i got a rate of 2.93 I told them if you can do much better then I'm going with BoA, they came down to 2.69% which translated to $2.00 a month less, told them forget, but if they can do 1.9% I'd be open to listening, end of story I went with BoA like I said before.
 

GUSTOPP2

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Credit union. Mine can get 1.9% up to 84mo. But sometimes if dealer has relationship with bank they will match credit union rates to get your loan and kick back $.
This.... Get approved at your Credit union or whatever for the lowest rate you can find. Ford will match it. They did for my Mustang as well for 1.9. Not a GT500.... Yet.
 

protraxduner

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Penfed, Navy Federal, Local C.U. 1.99% 60-84 moths. I went local this was Aug 2020
 

 
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