You can make the first payment your pay off. If you make 3 months of payments you're likely to be giving the whole 1k back!

 

Yea already did the math and it would not be worth it. Also the banks are not giving loans like they used to and i'm not going to take the chance of getting stuck with 8.99%. I already got approved for a great %.

 

I'm wrong. Looks like trade values have gone up since I traded mine in. Damn.

 

I know isnt it great lol!! The trade in has actually gone up since i bought it 3 years ago.

 

Take the money and run, I never even made 1 payment. Ford Credit pissed me off so badly, I went ahead and refinanced as soon as I got my first payment notice. When I bought the truck, I put down another $3500 to get the price down. I owed $26,800 leaving the dealership. My first payment said I owed $27,150, what a Ripoff. Needless to say, I called my Credit Union the following Monday and refinanced over the phone. I signed the paperwork on Tuesday at 4.25% for 60 months. It not only knocked off a year, it also brought my payment down.

My Credit Union told me that 3 month wait was FMCC BS. If you have a valid loan, they cam assume it. I took FMCC because I knew I was going to refi anyway. But I thought $350 was a tad excessive for one month. I called FMCC and they said interest was compounded daily. How can that possibly be simple interest? Thank God I have excellent credit and only made one phone call and it was taken care of. It's a shame that people that couldn't afford it otherwise, get screwed!! Learn from my mistake and refi immediately.

Bob

 

Your situation is exactly why i'm not bothering with fmcc. I have already been approved for the same interest you refinanced for, or alittle less and if I went with fmcc at first then refinanced theres a good chance i would shoot myself in the foot.
I already tried it all, lol!

 

A thousand bucks, is a thousand bucks, do what you please! In my case unfortunately, it only turned out to be $650. If you are pre-approved at your bank, tell them the truth, my CU completely understood. I only wish I acted sooner. Even my salesman asked, "what is Ford going to do?". Take away your birthday?

Bob

 

I got my XLT 2 days ago...5.9% (not FMCC), total of 9500 dollars off sticker (including my trade in). From what I've seen 9-10k is pretty norm right now for deals. At least I hope!!

Either way I am satisfied.. paid 29k for a 38k truck...the best vehicle I have ever owned

 

Haha your right. I have not yet finalized anything or agreed to any terms so there is still a deal going on, only now they know i can buy it and they really want to sell it, lol!
I'm working them till the bitter end, and if i end up with no new truck, oh well.

Yea similar here, sounds like you got more off sticker then what we are getting around here, but similar. My interest rate is alot lower then yours though if i end up buying the truck.

 

Each year it is the same thing. The guy with the model in year ending says to buy his model year because the next year model will be less of a deal. But each year people get good deals. The 08 guys said they went with the 08 because the 09 would not give them a good deal. But $8 to $10k+ off msrp was had by most people on the 2009. Then the 2010 arrived, and the 09 owners said the 2010 would be less of a deal. But as you can see here now the 2010 owners are saying to buy the 2010 because the deals are good and the 2011 will be less of a deal. The bottom line is you can get a good or bad deal any year. The only way you are not going to get a good deal is if you do not do your homework and get pressured into buying. Since you already own a newer F150 I would just wait for the updated 2011 model.

 

The only people who are buying 2010 F-150s are the ones who don't know what changes are coming in 2011. While the prices for the 2011 will he higher even if MSRP stays the same, it will only last a few months. By next summer $10k off will be common again.

Also, you are only thinking about $xxx per month. You said you have 2 years left on the '05 loan. You could refinance that one @ lower amount. But even if you don't, then in 2 years you'll have zero payment instead of another 3 or 4 years of still a sizable amount. If your '05 is in good shape, keep it.

 

Unless the deal blows me away, i will do exactly what you said as i was already considering that.

 

Not true APT. I bought my 2010 not caring what is coming in 2011. This is a very good truck and will do want I want it to do for years to come. Yes, there may be more technologically advanced engine packages in the 2011, but I don't care, the tried and true 5.4 is fine with me.

 

Racer, you are happily ignorant then. Enjoy

 

I'm not ignoran at all. I'm aware of what MIGHT be in the 2011 models. I just don't care. I have two Mustangs to play with for speed and performance purposes. I bought my truck to haul things and carry my family around in comfort, and it does both extremely well.