Question about FINANCING the Bronco Sport...

13MikeH

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No idea what your saying. Your comments add nothing to the conversation. Stay in your lane my friend.
lol...let me go slower. The OP is asking for assistance with financing questions. THEIR HEALTH/FINANCES ARE NONE OF YOUR BUSINESS CUPCAKE. IT'S LOUD MOUTH PUNKS LIKE YOURSELF WHO INTERJECT OPINIONS WHERE THEY AREN'T HELPFUL OR WARRANTED...SHUT IT. MAYBE they need the car to attend medical sessions...MAYBE you know NOTHING of their personal needs and assets...so...offer advice...condescending comments is unwelcomed... More clear sweetie?

 

rdc17

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With financing through Ford Credit there is no interest penalty for early payoff (prepayment) of the loan. The contract says this:

"You may prepay. You may prepay all or part of the unpaid part of the Amount Financed at any time. If you do so, you must pay the earned and unpaid part of the Finance Charge and all other amounts due up to the date of your payment."
That's interesting. I didn't know Ford offered that.

I got 0% for 48 through FC in Feb of 2021 so I didn't really pay much attention to the fine print on the financing docs.
 

gman62

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lol...let me go slower. The OP is asking for assistance with financing questions. THEIR HEALTH/FINANCES ARE NONE OF YOUR BUSINESS CUPCAKE. IT'S LOUD MOUTH PUNKS LIKE YOURSELF WHO INTERJECT OPINIONS WHERE THEY AREN'T HELPFUL OR WARRANTED...SHUT IT. MAYBE they need the car to attend medical sessions...MAYBE you know NOTHING of their personal needs and assets...so...offer advice...condescending comments is unwelcomed... More clear sweetie?
You are clueless but we will leave it at that to avoid this thread being shut down. The OP is seeking financial advice. The best advice is never to finance a car downpayment with a credit card, as echoed by other posters. Its as simple as that. Certainly the OP can do whatever he thinks works for him. Again, he came online seeking advice and that is what he is getting. Never asked about his personal needs. Reading is a skill.
 
OP
OP
tropical2022

tropical2022

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Ordered Bronco Sport... now waiting...
I'm getting the vehicle this year (hopefully) because the sooner I can have a vehicle that I actually LIKE (and plan to own for many years) and own free and clear the better (it makes no sense in my specific situation to delay it by another entire year which won't make things any better in my specific situation... it will make no difference). I've been in debt many many many many times in my life and in business (42 yrs old with FICO score 820). It always goes down of course when I have more debt but when I pay it off it shoots right back up super fast.

I am working seriously towards having passive income (via assets) so I can move out in the mountains ⛰ to live a peaceful and very SIMPLE life surrounded by nature away from traffic and ALL crowds!! Always been a true loner and belong out in the mountains!

I've decided to put 5k cash down (possibly more not sure yet) and the other 5k will be on a credit card with 0% APR for 15 months... the rest I will finance on either 36 or 48 month term. I'll have this vehicle fully paid off in 2 years or less.

Life is extremely short, even more so when you don't have your health. And thanks to this nasty chronic progressive disease I have who knows what's going to happen to me in the future. If this stupid disease now robs me of getting this vehicle I'm going to be even more devastated with the circumstances I am in. I don't want to be in a situation where 3 years from now I won't have a car that's fully paid off. So, ironically, getting a vehicle I plan to keep long-term now makes more sense in my specific circumstances (lots of unnecessary details left out of course).

PS: I'm a chick! 😋 I don't know why people always assume I'm a man online LOL... I guess I should only be worried about it if people still think that once they meet me in real life?

Or maybe I just need to do a better job of shaving my hairy chest and face.
 

gman62

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Awesome, sounds like you have a plan. Always glad to see an OP take the comments as they were intended to be and not get bent out of shape if it is not what they may necessarly wanted to hear. Good luck on the BS and good luck on the health front.
 


13MikeH

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I'm getting the vehicle this year (hopefully) because the sooner I can have a vehicle that I actually LIKE (and plan to own for many years) and own free and clear the better (it makes no sense in my specific situation to delay it by another entire year which won't make things any better in my specific situation... it will make no difference). I've been in debt many many many many times in my life and in business (42 yrs old with FICO score 820). It always goes down of course when I have more debt but when I pay it off it shoots right back up super fast.

I am working seriously towards having passive income (via assets) so I can move out in the mountains ⛰ to live a peaceful and very SIMPLE life surrounded by nature away from traffic and ALL crowds!! Always been a true loner and belong out in the mountains!

I've decided to put 5k cash down (possibly more not sure yet) and the other 5k will be on a credit card with 0% APR for 15 months... the rest I will finance on either 36 or 48 month term. I'll have this vehicle fully paid off in 2 years or less.

Life is extremely short, even more so when you don't have your health. And thanks to this nasty chronic progressive disease I have who knows what's going to happen to me in the future. If this stupid disease now robs me of getting this vehicle I'm going to be even more devastated with the circumstances I am in. I don't want to be in a situation where 3 years from now I won't have a car that's fully paid off. So, ironically, getting a vehicle I plan to keep long-term now makes more sense in my specific circumstances (lots of unnecessary details left out of course).

PS: I'm a chick! 😋 I don't know why people always assume I'm a man online LOL... I guess I should only be worried about it if people still think that once they meet me in real life?

Or maybe I just need to do a better job of shaving my hairy chest and face.
Here's the truth...you don't owe ANYONE an explanation, what you do and how you get there is up to you. Best wishes with your health and wellbeing. If the sport is a highlight and "happy place" for you, take care of you. Nobody understands you or your perspectives...unwanted moronic comments aside, ENJOY THE RIDE and live a little. And... A little hair waxing goes a long way🤣🤣😎 kidding..mostly😉
 

13MikeH

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You are clueless but we will leave it at that to avoid this thread being shut down. The OP is seeking financial advice. The best advice is never to finance a car downpayment with a credit card, as echoed by other posters. Its as simple as that. Certainly the OP can do whatever he thinks works for him. Again, he came online seeking advice and that is what he is getting. Never asked about his personal needs. Reading is a skill.
Clueless...SHE. HER different isn't your different and financing is a personal choice. YOU interjected the health vs car...your response had nothing to do with sound financials...it was a condescending comment...own it.
 

HomePeace

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Is there any benefit to talking financing if you're paying cash? Will dealerships come down in price if they think they can make it back from the financing?
If you read my comment on the first page, I did just that. The dealer had an ADM of $6k and I got that down to $500 because I played it off like my financing was gonna run low and I had little down and was trading in my G37. They bit and gave me an out the door of 32700 on my big bend (before tax license, etc.) They pulled credit and took 36mos/0.9% and put 20k down out of my debit account, and gave the G37 to my brother. The finance guy couldn't hide his frustration.
 

gman62

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Clueless...SHE. HER different isn't your different and financing is a personal choice. YOU interjected the health vs car...your response had nothing to do with sound financials...it was a condescending comment...own it.
My god you are still at it. Ok you win - I get it - your in a pissy mood cause your mother told you to put down the porn apps, clean your room and finish your GED. Sounds like good advise.
 

Johnh

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I'm going to embarrass myself with this ignorant question about financing the Bronco Sport I just ordered to purchase but haven't received yet because it's not being built until July.

Am I FORCED to use the dealer's lender in order to finance the purchase of the vehicle? I want to put 5k down using credit card that has 0%APR for next 15 months. Dealership I ordered the Broncos Sport with said they don't allow down payments using credit card more than 5K max. This is a bummer because I wanted to put at LEAST 15k down using my credit card which has 0% interest for 15 months but dealer won't allow it.

I just read on Google that some car dealerships have "pre-computed interest"... NOT good!! This means even if I pay off the car being financed financed very early I will NOT pay LESS interest... I will still be screwed!

So now I have to ask the car dealership I ordered the Bronco Sport with though Ford's website whether their car loan is a "simple-interest loan" or the EVIL "precomputed interest"?

Since I have to have a very ridiculously SUPER expensive medical procedure (my life depends on) later this year that's not covered by insurance... I really desperately need to get this monthly car payment to be as LOW as possible so I was going to select 84 month finance term and then pay it off super early. But not if I'm going to be screwed out of thousands of dollars in interest because of the way the lender structures this loan with "precomputed interest" FIXED interest! 🥶😰😨😱
 


Johnh

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Try a credit union their rates are lower than a bank in most cases I’ve used them for years it costs around 5 bucks to join them check it out also make principal payment anytime to knock tloan down
 

Jparra830

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I'm going to embarrass myself with this ignorant question about financing the Bronco Sport I just ordered to purchase but haven't received yet because it's not being built until July.

Am I FORCED to use the dealer's lender in order to finance the purchase of the vehicle? I want to put 5k down using credit card that has 0%APR for next 15 months. Dealership I ordered the Broncos Sport with said they don't allow down payments using credit card more than 5K max. This is a bummer because I wanted to put at LEAST 15k down using my credit card which has 0% interest for 15 months but dealer won't allow it.

I just read on Google that some car dealerships have "pre-computed interest"... NOT good!! This means even if I pay off the car being financed financed very early I will NOT pay LESS interest... I will still be screwed!

So now I have to ask the car dealership I ordered the Bronco Sport with though Ford's website whether their car loan is a "simple-interest loan" or the EVIL "precomputed interest"?

Since I have to have a very ridiculously SUPER expensive medical procedure (my life depends on) later this year that's not covered by insurance... I really desperately need to get this monthly car payment to be as LOW as possible so I was going to select 84 month finance term and then pay it off super early. But not if I'm going to be screwed out of thousands of dollars in interest because of the way the lender structures this loan with "precomputed interest" FIXED interest! 🥶😰😨😱
I got 1.9% 60 month for financing from Ford a few months back
 

tconstan

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Thanks for the replies!

My FICO is in the 800s so I have excellent credit. So I should try to find outside financing.

I'm forced to use credit card to put any amount down because the medical procedure I need is taking too much.

I'm about to say screw it and just put 5k down with my 0% interest credit card... but then I'll have a $900 something monthly payment for 48 month term 😿 FORD websites shows 2.9% interest for that.
Police and Fire FCU in Philadelphia has 2.9% financing for 84 months. Best rate around for a long term deal. No early payoff penalties. I didn't even have to join to get that rate. And, you don't have to be a policeman or firefighter to get that financing. Go to pffcu.org for info.
 

jmhpi49

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I'm going to embarrass myself with this ignorant question about financing the Bronco Sport I just ordered to purchase but haven't received yet because it's not being built until July.

Am I FORCED to use the dealer's lender in order to finance the purchase of the vehicle? I want to put 5k down using credit card that has 0%APR for next 15 months. Dealership I ordered the Broncos Sport with said they don't allow down payments using credit card more than 5K max. This is a bummer because I wanted to put at LEAST 15k down using my credit card which has 0% interest for 15 months but dealer won't allow it.

I just read on Google that some car dealerships have "pre-computed interest"... NOT good!! This means even if I pay off the car being financed financed very early I will NOT pay LESS interest... I will still be screwed!

So now I have to ask the car dealership I ordered the Bronco Sport with though Ford's website whether their car loan is a "simple-interest loan" or the EVIL "precomputed interest"?

Since I have to have a very ridiculously SUPER expensive medical procedure (my life depends on) later this year that's not covered by insurance... I really desperately need to get this monthly car payment to be as LOW as possible so I was going to select 84 month finance term and then pay it off super early. But not if I'm going to be screwed out of thousands of dollars in interest because of the way the lender structures this loan with "precomputed interest" FIXED interest! 🥶😰😨😱
My dealer was able to get a better interest rate through Wells Fargo than Ford. I can pay it off early without any penalty.
 

Bluebaru

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So most dealers will cap card transactions. 5k sounds right. But track you incentives from order to purchase. Ford price protection allows dealers to give you any of the deals floating during those times. In January 2022 when I ordered APR for 60 months was 1.9% and the $1000 off pre-order rebate.
I ordered on 1/27 can you point me to any proof, of these two things. I may need them when I pick my car up in July, as the dealership failed to acknowledge the $1000 rebate/incentive, when I ordered.

 

 
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