No mustang for me :(

[Leos650]

Sadly couldn’t take delivery do to the high interest rates …I’m going to wait a few months and get one of the lot hopefully I can find a vapor blue with active valve and PP sitting somewhere

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[Pdaddy1280]

Dang, sorry to hear that. It’s tough all around with these high rates. Glad to see you have your priorities straight not over-extending yourself. Wishing you the best of luck that things turn around.

 

[Leos650]

Dang, sorry to hear that. It’s tough all around with these high rates. Glad to see you have your priorities straight not over-extending yourself. Wishing you the best of luck that things turn around.

Thank you Mate I would of payed more in interest than what I put down on the down payment that’s no win for me other than driving the car I’ve always wanted.. but what’s meant to be yours will always find its way back with better opportunities

 

[Lastoutlaw_21]

How much was your interest rate?

 

[Q6543]

The federal reserve appreciates this.

 

[Leos650]

How much was your interest rate?

14% At 64k+ with a co-sign with a down payment of 20% percent of the car worth
They wanted 16 down but I wasn’t going to go broke for a car. of a monthly of 1100 a month. whenever I can applied for a loan again im going for the most basic spect AV, PP that spec was almost fully loaded

 

[Lastoutlaw_21]

14% At 64k+ with a co-sign with a down payment of 20% percent of the car worth
They wanted 16 down but I wasn’t going to go broke for a car. of a monthly of 1100 a month. whenever I can applied for a loan again im going for the most basic spect AV, PP that spec was almost fully loaded

Damn! They tried to bury you in interest and debt. I would have taken the 1100 payment but the 14% and 16 down needs to be lowered alot !

 

[Leos650]

Damn! They tried to bury you in interest and debt. I would have taken the 1100 payment but the 14% and 16 down needs to be lowered alot !

Yeah I was under the impression that was the case my credit is not the best but fairly good. I even picked up a second job work 80 hours a week for nothing basically lol next time around I’ll go to my bank instead

 

[RJV15]

14% At 64k+ with a co-sign with a down payment of 20% percent of the car worth
They wanted 16 down but I wasn’t going to go broke for a car. of a monthly of 1100 a month. whenever I can applied for a loan again im going for the most basic spect AV, PP that spec was almost fully loaded

Man! Were you trying to finance this thing through a loan shark?

 

[Crew4991]

Man! Were you trying to finance this thing through a loan shark?

LOL Yes...

Ford Credit

 

[RJV15]

LOL Yes...

I got 3.9% from Ford.


Pretty sure that dealership was just trying to screw OP over. OP should have went to a credit union beforehand and at least gotten a rate from them to establish how good/bad OPs credit is.

 

[Leos650]

Man! Were you trying to finance this thing through a loan shark?

dude I was in awe

I got 3.9% from Ford.


Pretty sure that dealership was just trying to screw OP over. OP should have went to a credit union beforehand and at least gotten a rate from them to establish how good/bad OPs credit is.

yessss that….
I was in awe this my only second car ever yes I might of had some late payments I was young back then but now I have two good paying jobs like I was In awe also .
they told me I had 17 days to think about it since it was a holiday weekend Columbus Day banks were closed so I had to wait I get a call saying they have someone that wants to buy it and I only have till 5.. that’s why I’m going through my bank next time

 

[Crew4991]

Pretty sure that dealership was just trying to screw OP over. OP should have went to a credit union beforehand and at least gotten a rate from them to establish how good/bad OPs credit is.
[/QUOTE]


Completely agree!

14% on a $64k mustang is insane. The bank probably wanted that 20% down payment because on their books the car is nowhere near what they show the car is worth and they are now in their RISK OFF cycle so that means the consumer needs to pay a hell of a lot more if they want to take the vehicle. Crazy times we live in but this is exactly the result of the fed doing what they are doing and slowing down purchasing. Sorry OP. Hope you get a car you like sometime soon in the future. For now, keep test driving the cars and some dealer/bank will work with you.

 

[agreywolfe]

Yeah, also never hurts to go through a pre approval through a credit union. Mine was 15k down 6500 trade at 6.29% through USAA. Best the dealer could get was around 7.25%

 

[Dena]

Talk to the bank/credit union now as that car may still be on the lot tomorrow and they may be more willing to talk if their bluff is called. It is possible that 5pm seller is vaporware.

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