Ford Credit - Final payment automatic?

[PeeKay]

I have automatic payments setup for my Ford Credit loan. I received a letter from Ford which states that the final payment will *not* be deducted automatically. When I check ford.com/finance, it says that my automatic payment is scheduled to be on the regular payment date.

So, did anyone else have their final payment get deducted automatically?

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[AliRafiee]

Check the day after the due date to see if they automatically took or not.

 

[generaltso]

I have automatic payments setup for my Ford Credit loan. I received a letter from Ford which states that the final payment will *not* be deducted automatically. When I check ford.com/finance, it says that my automatic payment is scheduled to be on the regular payment date.

So, did anyone else have their final payment get deducted automatically?

Is this a Ford Options loan? If so, the balloon payment will NOT be deducted automatically despite what it says online.

 

[Jerrytball]

I have automatic payments setup for my Ford Credit loan. I received a letter from Ford which states that the final payment will *not* be deducted automatically. When I check ford.com/finance, it says that my automatic payment is scheduled to be on the regular payment date.

So, did anyone else have their final payment get deducted automatically?

When I paid off my 91 bronco back in the day with Ford Credit, I remember payoff amount was a certain figure wasn’t what I thought it would be, because I was paying it off before the loan was going to end. So I paid off the payoff amount And I’m like it’s done. Then I get a bill for $1.25, and I called them and they said well that was the interest that accrued for the next day, and I said interest it was an interest free loan 0%. That was just weird.

 

[PeeKay]

Is this a Ford Options loan? If so, the balloon payment will NOT be deducted automatically despite what it says online.

Yes, it is a Ford Options loan. Ill have to mail a check then. Looks like the online "Make a Payment" link only allows principal payment.

 

[generaltso]

Yes, it is a Ford Options loan. Ill have to mail a check then. Looks like the online "Make a Payment" link only allows principal payment.

You can make the final payment online. Just generate a payoff quote and manually pay that amount. There’s a limit per transaction, so you may need to split it into two.

 

[Barryb54]

I also have an Option Loan due in July. Ford Credit made a mistake & my June payment was somehow removed from auto payment. They admitted the mistake & set it back up for auto payment. But as stated earlier by another, the final balloon payment is paid separately, but can be done electronically if desired. Just be sure to pay it by the final due date.

 

[PeeKay]

I could not schedule a payment online or on the phone. Both systems refused. Decided not to bang my head against a wall with customer support, and just mailed a check.

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