Bronco financing interest rate - how competitive will it be?

[Beau J]

Wow, 7 years for buying a vehicle. I didn't realize that was a thing.

84 Would be more common on some expensive cars although I've heard of people going 96 months on a KIA! Absolutely insane..

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[Yukon65006]

Wow, 7 years for buying a vehicle. I didn't realize that was a thing.

Just checked Navy Federals site they offer 8 years.

Loan Type	Up to 36 mos. APR as low as	37-60 mos. APR as low as	61-72 mos. APR as low as	73-84 mos. APR as low as	85-96 mos. APR as low as
New Vehicle	1.79%	2.19%	2.29%	4.69%	5.59%

 

[Jpoterek]

Wow, 7 years for buying a vehicle. I didn't realize that was a thing.

Thats a long ass time, I plan to do 5yr on my Bronco since I am putting less down (probably 8-10K). i just did 5yr on my Wife's Edge since it was 0% otherwise I would have probably done an even shorter term

 

[Blksn955.o]

I would like to see 0.9 or 1.9 but am doubtful. The only reason I am thinking there is a chance is to aggressively get market share after the 2020 year that will be an asterisk for everything.

That said 100% agree with checking CU rates when it gets closer to have options outside of Ford Credit.

 

[ColoradoGuy]

Yep, me too. I just can't imagine making car payments that long though. Everyone is in a different situation but if it takes longer than 5 years to pay off your car, you may be exceeding your budget.

 

[XirallicBolts]

I'm hoping Ford has a good offer. The loan will be in my wife's name but she has no collateral -- I'll cosign if needed to lower the interest but it'd be better if Ford had better rates than her credit union

 

[AtomicWT]

I'd peg it anywhere from 2.99-3.99% through Ford

 

[AZHUND]

My mind is still blown 5 years (60 months) is "normal" as that seems extremely long. Out of college I financed a Honda Accord for 36 months and that felt like I was YOLO'ing it. Lots of articles out there on analysts thinking car loans will be the next bubble for good reason.

 

[Mopar2Bronco2021]

As long as my bank can get me under 4% interest then I’m fine. If Ford can do better, great. If not, oh well. Their loss.

 

[Jpoterek]

My mind is still blown 5 years (60 months) is "normal" as that seems extremely long. Out of college I financed a Honda Accord for 36 months and that felt like I was YOLO'ing it. Lots of articles out there on analysts thinking car loans will be the next bubble for good reason.

I agree with this totally, I remember when I bought my 99 Lightning I did a 3 year loan and thought that was forever long as a term but with prices of vehicles continually going up and most new vehicles exceeding 40k, 5 years isn't terrible especially as reliability and length of ownership have continued to increase as well. I have been a financial advisor for over 16 years now and have this conversation with people all the time, I have some folks that shouldnt get anywhere near a new car loan until they manage other debt, but for others that are more responsible, save for retirement, college, etc I dont think its bad to finance a new car at a reasonable price for a 5 year term. Its all dependent upon the person and their situation

 

[mrcx]

I'm hoping they stay with this.
https://www.carsdirect.com/deals-ar...o an incentive bulletin,-month option at 3.9%.

 

[Rick Astley]

If you can accurately tell me what market interest rates are going to be in September of 2021 (11 months in the future), i'll hire you as my investment manager.

Submit your resume now, hiring starts in 11 months!

 

[Rick Astley]

Keep adding oil? That was the tried and true method for determining if they still ran, if the oil puddle under them was fresh.

 

[Blksn955.o]

Auto loans and markets frequent melt down as that market tends to bulk up if you will on the volume of sub prime credit loans and defaults. That and the cost of the automobile has drastically increased on the last 25-30yrs.

It is not odd in Europe for 10yr auto loans. 5 and 6 are the new 3 and 4.

 

[jayhawkco]

I'm hoping they stay with this.
https://www.carsdirect.com/deals-articles/2021-ford-bronco-sport-financing-costs-are-going-up#:~:text=According to an incentive bulletin,-month option at 3.9%.

Agreed. 0.9% @ 48 months and 1.9% @ 60 months are nice.

Chris

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