Hello all. I hope I am in the right place and if not, please excuse my putting this post here.

I have a buddy which is looking for a new truck at the same time as I am and we are both looking a new F-150 through Ford. We both have z-plan access and I have good credit but he has poorer credit. My buddy is concerned about running his credit through anyone right now until he is sure he knows exactly what he wants to do but he wasn't sure how Ford was with credit financing through themselves on either a buy or a lease. Neither of us have put our apps in yet. Can anyone give me any heads up on Ford Financing as to how leinent they are right now for financing someone especially for lower credit status?

Thanks

Welcome bigjay :wavey: Great to have you here and you are in the right place. I know we have some dealers here so I hope they will chime in. I would guess Ford's financing would be willing to help people out during these tough times. Can you give us an idea of his situation? Whats a rough credit score he might have?

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As it is not me who has the concern, I don't have much detail to go on. What I do know is that he has lower than average credit, not horrible but not high either. I also know that he doesn't have very much car credit available to work on either. He has some but not long term.

Unfortunately that is all I know. I will ask him if he can give me some more specifics but if anyone can comment based on that right now, that would be great.

Thanks

A word of caution. If and when you put an app in it will go against your credit score. The more hits the bigger the decline. Hope it helps.

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That is why I was posting here. He knows that if he puts his apps in more than one place it will not help his credit so he wants to do it once but he would like to do it only if there is a better chance of him getting financed through the lender than another lender. He really likes the Ford trucks but is also looking at Chevy too but GMAC financing is questionable as well.

If you don't mind my saying so. If your friend already has credit problems. The last thing he needs to be doing is looking at a new truck that's going to cost him 20K or more.
His best bet is to keep whatever he's now driving for another 18 months to 2 years. Take the $450 or so he was going to pay Ford Credit or GMAC or whoever and put it in the bank.
Then 2 years from now he can get himself a good 2-3 year old $9,000-12,000 truck and pay cash for it. That's just my 2 cents worth.

Another word of caution is to not drive off of the lot in something he may have trouble getting financing on. I have known a few people who have gone down to the lot and drove off in a vehicle that the salesman/finance manager sweared they could get them financed on at a certain rate. A few days later they have received the call that the original financing plan did not go through and they needed to try to finance them through another lender at a higher rate. A few lenders later they are at an outrageous rate and they have to take that rate, or drive the car back to the lot and explain to their friends and family where their new car went. Believe me, I know of this happening more than a few times. Just a word of caution for someone who may have less than desirable credit.

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I think this is especially true on weekends... Later at night. Or when ever the institutions that will actually be loaning the money are closed. The finance person at the shop is just going on a list of credit numbers that has been provided. Not sure on this. But I had that crap happen to a friend. Monday gets a call that there is a problem with the financing. Then got jacked with a horrible rate and had to bring the car back.

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