- First Name
- Jul 3, 2021
- Reaction score
- North Branford, CT
- ‘21 MME Premium AWD ER in Infinite Blue
I reached out to Ford and got the wrong answer. They told me that it assumes 3rd party refinance although that’s not what the contract says. My credit union quoted 5.99%Has anyone reached out to Ford to ask about this? I have the same terms as posted by
macchiaz-o but I'm trying to figure out how this works out
I'll have a $25,398 balloon payment due so if they agree to keep the same monthly payment for 36 months then it seems like I'd pay $29,394.72 (my monthly is $816.52) which would be about a 9.75% interest rate which seems pretty bad for today's used car market?
I am starting to think that the best move is going to be refinancing with a third party. I don't necessarily want to pay the $25k cash and they would probably have to offer some insane financing to get me to turn it in and upgrade
My contract says you finance the balloon at a new rate, same payment amount, and term is set to end when the principal is paid. This would be less then 36 months, maybe 30.
As with Ford Options, Ford Credit seems confused.