End of lease, buying the truck, who to get the loan thru? - Ranger-Forums - The Ultimate Ford Ranger Resource


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Old 09-01-2007
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End of lease, buying the truck, who to get the loan thru?

So my lease ended aug 28th. tho i had a one month extension cause they 'couldnt find' my check i sent them back in June, what a cluster ***** that was. I have NEVER been late or missed payments on anything. and they 'misplaced' my payment check. so they called but dad couldnt talk at that time so i called em and they said my payment was like 27days late or some crap. so the dude on the phone was like 'call monday and get an extension, then dads like u better call them and see if this will hit our credit... so i did, so come to find out i ended up wire transferring $500 (to pay off the lease) to ford that saturday, or it was gonna hit our credit on monday.

so i dont wannt deal with ford credit unless i must, if u miss a payment, are late, or whatever, they report it to the credit bureaus, what a joke! my mom was late on her $40,000 mortgage and it didnt hit her credit, yet im late on a $9,000 rco and theyre saying its gonna hit my credit... screw that, so, anyways...

who here went thru fmc, or a local bank? and what was your loan for, interest rate, and monthly payment?

I need to know cause all this comes due sept 27th.
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Old 09-01-2007
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I bought my truck used in `04 ( it's an `02) for 11K. I dropped 6K cash on it, and got the other 5 from my Credit Union that I belong to. It was a 3 year loan at 4.25% and I was making payments about $150 a month. I just had to look up what my rate was, I'd swear I started at 3.75% but maybe not. I was 19 at the time and sat there trying to make sense of all the numbers while the nice lady had me sign over my soul.
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Old 09-01-2007
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thats crazy Andy

i bought and '04 used in feb. 07, my dad is a government worker so i set up an account at a government credit union with a rate of 4.25%... i put 6k down and im paying off the other 5.5k over 3 years... 176/month
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Old 09-01-2007
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check capital one... they usually have good rates
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Old 09-01-2007
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I paid for my truck with a credit card



We went in, found what we want, the guy kept on asking how we planned on paying (ford finance?) and we ignored it till we got a deal. Then we said credit card and he basically told us that wont work. 2 days later we paid 9000 on a credit card and a 5 thousand check.

For some reason I'm really against spending money I don't have. So that factors into something for me.
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Old 09-01-2007
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Stay away from Wells Fargo!
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Old 09-01-2007
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mine is thru a bank in utica, called partners trust. got a decent apr (all things considered) i plan on refinancing thru ES&L sometime soon.
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Old 09-01-2007
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Credit unions are a good choice, and you may even want to talk to your insurance company, as some of them also do auto financing.



*
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Old 09-01-2007
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i bought my ranger through ford motor credit and never had a problem once, will go though them again on my next truck more than likely
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Old 09-01-2007
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Dave, if you have a credit union go through them. If you don't try a bank you will be able to buy out the lease and not have to deal with going to the dealership. You should also be able to finance through Ford.
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Old 09-01-2007
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i bought my 07 Mustang GT and my 08 Ranger both through Ford Motor Credit . i have no issues with them at all ill buy my next ford through them also.

David
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Old 09-01-2007
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I financed mine through my credit union, Michigan State University Federal Credit Union. Got approved for $9300 at 7.65% interest for 36 months.

My advice, go through a credit union over a bank.
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Old 09-01-2007
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credit unions are good
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