Its probably too late now, but if it date just expired and the Vehicle was still available, perhaps they could have back dated the Sale date and still used the Promotion. I know I have closed the deal using Promotions Offers a week or two (before) the vehicle actually arrived and simply lost a few days of Warrantee coverage.
There is no profile set in stone with Ford Credit. I have purchased my last 3 New Ford Vehicles in the past decade using FC all with 36 month loans. FICO score always over 800 and (never) a late Payment. In Jan `15, the current Promotion was either .9% APR for 36 months (or) and extra $500 Cash Back, could not be combined. Used X-Plan with EAA $750 Cash Back plus Ford Incentive of extra $500 and went with Capital One Auto Finance for 1.50% APR for 36 months instead. Timing is everything and each Promotion & Incentive are always in a state of flux. Loan to Value never exceeded 33% of the Cost of Vehicle.
It means that for every $1,000 you finance, it is $13.89/mo. So say you finance $30,000. Your payment would be 30 x $13.89=$416.70/mo. for 72 months.
Seriously, you think Ford Credit will finance you with those Terms with only $500 to $1000 down? The Finance Manager would have to be on Molly!
Good luck, its all about Loan vs Value ratio. Even with stellar credit, would (you) offer Zero % with nothing down for 72 months on a 30K Vehicle? I wouldn`t offer those terms to myself! Hope you get it! You do realize that you`ll be "upside down" until your last 6 or 8 payments, right?
An someone wins the Lottery and PowerBall every few weeks too. Not saying its impossible but.......regardless of Credit history, no Lender in their right mind would extend 0% APR for a 72 month Loan with Zero down. As a business model, its totally insane. The Buyer inherits no risk and the Car depreciates 40% of its value as soon as the Tires leave the Dealers Lot. Other then getting a Car off their Inventory, does it make sense to even (you)?:doh:
It's nowhere near winning the powerball. In fact I'd say its fairly common for someone with excellent credit and a good job history.
True, but (if) someone by chance defaults, loss of job, divorce, health issues, etc, Ford Credit will repo the vehicle and ultimately re-sell it through a Ford Dealer. The huge depreciation right off gets eaten by who? Yeah, I own (2) New Ford Vehicles, so, I`m all in with Ford. That said, I`m a Ford Shareholder too and rather not have foolish zero percent / 72 months Loans issued when the Buyer has no (skin) in the game, regardless of credit history. Its just not a wise business practice to sell cars. If you were the Lender, would you issue the Loan? If (I) owned the bank, I wouldn`t issue those Terms to myself!
