FICO score needed for Ford Credit top tier financing rate?

[Back2Gas]

Does anyone know what FICO score you need to get the best rate from Ford Credit? I'm pre-approved with Ford Credit but not sure what my rate's going to be.

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[akfinfan]

Ask your dealer?? Finance guy?

 

[Back2Gas]

Ask your dealer?? Finance guy?

I did, they just said I need a "good" credit score. Not sure what constitutes as "good" for Ford though.

 

[LETHAL]

It's gonna be based on what term you select as much as your FICO. 72-84 mtn are seeing 6.9% from what I have seen.

Dealer pull is also a factor. I have gotten rates with FMC that I shouldn't have because my dealer is high vol and vouched for me after buying 2-3 new vehicles every 2-3 years LOL

 

[akfinfan]

So a regular credit score of over 800 is pretty much guaranteed then for Ford Credit?

 

[Back2Gas]

So a regular credit score of over 800 is pretty much guaranteed then for Ford Credit?

Oof, hope not. So far I've been able to get the best rates from all my local credit union's with a 740 score. I may just refinance immediately after purchasing the car if Ford Credit can't match.

 

[Q6543]

Fed funds are at 5.25 with another 50-75 bps on the table.

don’t expect to see anything under 7% even with an 850 credit score.
That’s the market we’re in… they do not want people financing anything, cars homes.. etc.
They have been trying to slow the economy for a year plus now.

 

[akfinfan]

Oof, hope not. So far I've been able to get the best rates from all my local credit union's with a 740 score. I may just refinance immediately after purchasing the car if Ford Credit can't match.

What I’m saying that if I have a credit score of 800+, I should have no problem getting Ford Credit Financing.

 

[Korvus15]

So a regular credit score of over 800 is pretty much guaranteed then for Ford Credit?

If you have a fico score of 800 you'll be more than fine as far as getting approved for Ford Credit is concerned.

Example, back in 2020 when i was still rebuilding my credit, fico was like 670? Fully financed via ford credit.

The real question is going to be what that interest rate is going to look like now.

 

[Jrws1014]

Fed funds are at 5.25 with another 50-75 bps on the table.

don’t expect to see anything under 7% even with an 850 credit score.
That’s the market we’re in… they do not want people financing anything, cars homes.. etc.
They have been trying to slow the economy for a year plus now.

My wife just bought her 2023 expedition with a 618 credit score. $0 down and $5,000 upside down trade value and the dealer was able to get her a 7.9 @ 84 months through Ford Motor Credit.

 

[Jrws1014]

Remember that dealers are going to put extra work in to get deals down with limited stock available. They need every sale they can get.

 

[sdsteele2]

Oof, hope not. So far I've been able to get the best rates from all my local credit union's with a 740 score. I may just refinance immediately after purchasing the car if Ford Credit can't match.

Why not just get approved by your credit union and skip the dealer financing? Less hassle than a refi I would think.

 

[friscoaggie]

What I’m saying that if I have a credit score of 800+, I should have no problem getting Ford Credit Financing.

Generally anything over 750 should get you best rate.

 

[Back2Gas]

My wife just bought her 2023 expedition with a 618 credit score. $0 down and $5,000 upside down trade value and the dealer was able to get her a 7.9 @ 84 months through Ford Motor Credit.

Ah okay that's good news then. Hoping to get at least sub 7% for 72 months

 

[dfwford]

Ah okay that's good news then. Hoping to get at least sub 6% for 72 months

Have you considered looking into a Credit Union?

That might be your best bet.

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