Financing

I will be coming off a lease in January of 2017 and looking to get into a Raptor. I spoke with a buddy at Murfreesboro Ford who advised that most Ford dealers with be allocated 4 per quarter with a price tag of mid to upper 50's. Is this price right? If it is and I did my math correctly, at lets say 7% interest and 2000.00 down, the payment is over 1000.00 a month. Now I've had a fully loaded Eddie Bauer Expedition as well as a Lincoln Navigator both of which have been over the $60,000.00 mark and the payment still wasn't over $900.00. Does this sound right? If you don't mind me asking, what is your monthly payment and at what interest? BTW I have an awesome credit score.

Thank you for your time.

Badegg said:

I will be coming off a lease in January of 2017 and looking to get into a Raptor. I spoke with a buddy at Murfreesboro Ford who advised that most Ford dealers with be allocated 4 per quarter with a price tag of mid to upper 50's. Is this price right? If it is and I did my math correctly, at lets say 7% interest and 2000.00 down, the payment is over 1000.00 a month. Now I've had a fully loaded Eddie Bauer Expedition as well as a Lincoln Navigator both of which have been over the $60,000.00 mark and the payment still wasn't over $900.00. Does this sound right? If you don't mind me asking, what is your monthly payment and at what interest? BTW I have an awesome credit score.

Thank you for your time.

Click to expand...

There is already a thread on this, I'll find it and post it here for you.
Unless you can afford those type of payments, might not be a good financial decision but that isn't for me to say. I put down over half with a trade-in. Monthly payment is going to be all over the map because it will depend on what you borrowed and for how long, as you most likely know.

My Payment: $425 (paying $500)
Interest: 1.64% for 60 months (but will be 4.5yrs with extra)

But that isn't what cost the most. It's the damn mod payments.
My Mod payments: $330 @ 6.99% for 3yrs (paying $1000 though to hopefully paid off by TRR16 for a set of new mods!)

EDIT: Here is the thread, started in 2012: http://www.fordraptorforum.com/f4/how-much-do-you-pay-month-13758/

To assume you'll pay msrp on a limited release i think i pushing it, but lets dream for minute here. If it were me I would assume they are only going to order Raptors with every option on it because they only get 4 a quarter, and because lets face it they make more money on the loans then the trucks these days so they got to drive up the value some how.

I would believe the next raptor you look at in 2017 will be at $65-68k, and $2000 down on that is probably like more like a $1500 if you do 4 years. If you do 5 you'll be down to about $1200 but you pay $12k in interest for that loan. If i were you I would put 6k down, get the interest rate to 4-5% and make it a 4 year loan. You'll pay half as much interest and have about the same payment at a 5 year 2k down loan.

7% ??? damn!!!!!

Payment is easy.

Mods are the killer. Save your down payment and spend it on mods.

---------- Post added at 05:15 PM ---------- Previous post was at 05:14 PM ----------

BTW I'm currently paying 1.99% Started with 1.89 but refinanced to get everything under one banking roof.

Thx guys. I apologize I did a search but couldn't find anything.

Badegg said:

If it is and I did my math correctly, at lets say 7% interest and 2000.00 down, the payment is over 1000.00 a month..... BTW I have an awesome credit score.

Thank you for your time.

Click to expand...

I'm a Finance Manager at a Chevy/Cadillac Dealer - If you have EXCELLENT credit as you claim -which I have no reason to question- you're getting SCREWED if you're paying 7% interest!!!!

No I'm not paying that...I was taking a guess. I actually lease now. The wife and I only drive our current truck on the weekends (company cars) and it made more sense to lease. My current SUV has only 6000 miles after 1 1/2 years and that's with a trip from Florida to NC.

I understand Raptors are unavailable for lease however a purchase might be ok for us as they hold their value. So I'm told at least.

Up in Canada, I financed through my bank, not the dealer. I think when I bought mine it was 1.9 %, the wife just bought a BMW last year and got close to the same rate at the dealer.

No matter what the payment is, it will go to waste. if your not going to drive it, that is.
Its all depends on what makes sense for you and your family. Good News ..... And you got a year or so to.save up:]

Badegg said:

I will be coming off a lease in January of 2017 and looking to get into a Raptor. I spoke with a buddy at Murfreesboro Ford who advised that most Ford dealers with be allocated 4 per quarter with a price tag of mid to upper 50's. Is this price right? If it is and I did my math correctly, at lets say 7% interest and 2000.00 down, the payment is over 1000.00 a month. Now I've had a fully loaded Eddie Bauer Expedition as well as a Lincoln Navigator both of which have been over the $60,000.00 mark and the payment still wasn't over $900.00. Does this sound right? If you don't mind me asking, what is your monthly payment and at what interest? BTW I have an awesome credit score.

Thank you for your time.

Click to expand...

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