A bad tale to tell

[OneBADLsE]

Today, i woke up...NOT OFFENDED for the very first time in as many months as i can remember. However, that all changed with a serious moment during a phone call from my local LM dealer. :alone:


"Lenny!! Call me back ASAP! We gotta talk"

Oh, *****. I knew what was comming, even with my 720+ FICO. I didnt want to admit it to myself, but someway, somehow, Ford denied my app for a loan! Lets put it this way, I pay EVERYONE BEFORE THE DUE DATE. My car loan ive had for almost 2 years.

Almost in tears (inside of course), i called the dealer back wanting to know what happened. He begins to tell me hes very sorry, and that they declined the deal. The reason being was that they said i had a few NEW trade lines. BOFA just offered me a 75 buck card, so i took it. I didnt think it would have any negative impact on my Credit.


Basically, ford tells me in living outside of my means. FAWWKKK! The finance manager called the supervisor in front of me and said there was nothing they could do. I went all in with 3k dumped into the deal from my neg eQ trade. Rolling the tax, upgrades i did, and everything else into the deal...Minus the reg of course.


That being said... I was going to keep it a "secret" (im pretty *****ty at keeping those, lol) until the nE hooters meet! I feel bad enough that its my dream that Ford made one of these and i can not be a part of it. The car is the essence of coolness. ITs flat out hot. After driving Keiths (navychap), and others, I HAD TO HAVE ONE!!! (DIRECTLY QUOTED FROM MY VId of driving it). :bs::bs::bs:


Regretfully, i say to the MM community whom has inspired me to follow my dream of owning the best big boy sedan ever created(IMHO), that the reality of driving it home this week is over. :beer::beer:



The search continues in the quest for the clean, stock, flawless marauder (IMHO this one was damn close. Northport ford has the #1 spot on that one)

:bigcry::bigcry::bigcry:

Len

[larryo340]

:( That sucks the big one!!! Don't give up yet

Did you try to get a loan from your own bank?

[OneBADLsE]

:( That sucks the big one!!! Don't give up yet

Did you try to get a loan from your own bank?


i lose the 4.9, and the rate jumps to appx 7.9. That kills me...

[larryo340]

That sucks even more !!!

[OneBADLsE]

Tell me about it. Payment jumps from 417 to almost 450. I cant justify that. BTW 7.9 isnt a horrid rate. Its just that fords special is FAWWWKIN GREAT!

[larryo340]

You can't sqeeze thirty bucks out of somewhere else?? Think man--think.

[offroadkarter]

I say every member here should donate 5 dollars just to make this man's dream be real


Hey atleast you got to drive a marauder, i only rode in one :)

[larryo340]

:banana2: I'm in :banana2:

[OneBADLsE]

:D You guys are great...In all seriousness... Thank you for even making mention of something like that :)

$30x60mo's = $1800... Thats alot of loose change:bigcry:

[Shora]

Don't sweat it. It's prob. for the better.

As for the Marauder being the best thing (or car) ever. That saying has its truth but it also is a big pain worrying about it and cleaning it and modding it non stop. I kind of miss not giving a rats ass about my cars. The MM makes me take even better care of my beaters/ daily drivers (I don't even know why).

My brother and I both have Marauders. MM.Net and MCM.Com make the car even more enjoyable because of all the nice people we meet but I think we spend too much time on them. Heck, I'm writing this and it's 1:40 in the morning. Get my drift?

Enjoy your MGM. From what I understand it's not too bad at all and when you get into the money, trust me, the perfect Marauder will be found for you.

Good luck man.

[JamesHecker]

720 FICO should get you a good rate at www.capitaloneautofinance.com. Currently 6.19%.

But really...as a financial planner, I would say go with your gut on this one. If you think the payment might be uncomfortable...your probably right.

[Blackened300a]

Awww that sucks Lenny, Is there any chance that you could have had your Mother co-sign the loan for you?
That usually helps bring the APR down.

[RoyLPita]

Keep trying, Lenny. You will have your MM in due time. And keep sending me the VINs.

[OneBADLsE]

Awww that sucks Lenny, Is there any chance that you could have had your Mother co-sign the loan for you?
That usually helps bring the APR down.


It wasnt even so much having a co-signer, as it was them feeling i was "over extending" myself. It's odd though. I have only seen ford maybe ONCE or twice in being at LM myself, go through analizing a 720 + fico with 0 Lates.

Why they chose me? I'll never know. Suppose the account exec handling this loan didnt get their Wheaties, or laid for that matter yesterday.

A co-signer would "ease" their tensions that i'd not be able to pull off a $135 increase over what im paying now. Again, its not the rate i dont qualify for, its the idea of paying more that i do now. Kinda sucks, but I cant honestly say theyre completely wrong. The quote in my signature says it all....

[RoyLPita]

Have you tried Capitol One?

[OneBADLsE]

Have you tried Capitol One?

im going to try my own bank later on today (BofA). theyre somewhere in the mid 6's

[magindat]

HSBC auto finance is pretty good and so is Suntrust. Try them.

Don't sweat the 7.9 if you can get it. Buy the car and refinance in 3-6 months for a better rate. That's what I did for my Durango. Dropped 4 points of interest and 60 bucks off my payment and my credit SUCKS from 2 divorces!

Bottom line, establish the note, then refi. Won't cost you a dime to refi.

Get the car, man! There are ways!!!

Unfortunately the Ford deal sounds like a bait and switch anyways. The dealer gets a spiff from the finance co, but not from ford motor credit. The dealer wants to sell you higher financing. Screw the dealer. Secure your own financing and then refi later!

[ckadiddle]

Ford dealer credit deals suck. I know from experience with several vehicles. Join a credit union. Get prefinanced with your credit union, then go Marauder shopping.

[GA-Marauder]

Ford dealer credit deals suck. I know from experience with several vehicles. Join a credit union. Get prefinanced with your credit union, then go Marauder shopping.

Actually, I did get 60 months at 0% interest for my Marauder in late 2004. It was during the interest rate wars.

I agree with a lot of the suggestions here. Try some of the options like Lending Tree (don't know for sure if they do auto loan comparisons), Capitol One (I've used them successfully for a low rate before), or a Credit Union or your own bank. There are more than one way to skin this cat.

And, BTW, its Ford's loss when you finance somewhere else, so screw'em.

[CBT]

I hope two things for you:
1.) You get a Marauder.
2.) You quit banking with Bank of "America".

[chucky]

that sucks, sorry to hear the deal feel apart. any chance the dealer
can lower the price? try talking to the sales manager yourself &
good luck

[OneBADLsE]

that sucks, sorry to hear the deal feel apart. any chance the dealer
can lower the price? try talking to the sales manager yourself &
good luck


They were their lowest price. Making a thousand bucks isnt much on the car. Plus, i would havenpaid for the repair order on the car which was 600. A new battery, couple of tires, etc

[BLACKMARAUDER04]

Try Capital One. They offer a lot of car finance deals.

[Mesencephalon]

HSBC auto finance is pretty good and so is Suntrust. Try them.

Don't sweat the 7.9 if you can get it. Buy the car and refinance in 3-6 months for a better rate. That's what I did for my Durango. Dropped 4 points of interest and 60 bucks off my payment and my credit SUCKS from 2 divorces!

Bottom line, establish the note, then refi. Won't cost you a dime to refi.

Get the car, man! There are ways!!!

Unfortunately the Ford deal sounds like a bait and switch anyways. The dealer gets a spiff from the finance co, but not from ford motor credit. The dealer wants to sell you higher financing. Screw the dealer. Secure your own financing and then refi later!

Just watch out for what deal they give you. When i financed my Bonnieville w/ Ford Motor Credit they gave me their "best rate" (somewhere around 7% or 8% at the time) but when i went to refinance found out that they had a "no refinancing" clause ... so you were stuck at that interest rate for the whole 48 months.

just a warning ...

[OneBADLsE]

NOW, TO ADD INSULT TO INJURY, THEY SOLD THE CAR!!!!!!!!!!!!!!! :mad:

Can someone call this place up to see if he''s *********tin me. 516-483-5820. Say you saw the car on the net.

[MercModifier]

You are not gonna sleep a wink tonight

[OneBADLsE]

You are not gonna sleep a wink tonight


Not a G-damn bit

[Blackened300a]

NOW, TO ADD INSULT TO INJURY, THEY SOLD THE CAR!!!!!!!!!!!!!!! :mad:.

Fother Muckers!!!!

[1stMerc]

Once you get the car, you'll have refi offers coming out the wa-zoo within 6 months.

[cruzer]

I had a 820 credit rating, made some money on some stock, paid off all my credit cards--refinanced my house for 30% value for more investing capital---Ford turned me down " because , a man of my age (75) divesting his debt indicates he is anticipating a cash shortage " ?????? Funny, doing that also lowered my score to 780---you figure. Got a 4.3% from my credit union--look around, get your financing set up and buy the car for cash--there are some pretty nice MMs out there --and there will continue to be---have faith, Maury

[OneBADLsE]

I had a 820 credit rating, made some money on some stock, paid off all my credit cards--refinanced my house for 30% value for more investing capital---Ford turned me down " because , a man of my age (75) divesting his debt indicates he is anticipating a cash shortage " ?????? Funny, doing that also lowered my score to 780---you figure. Got a 4.3% from my credit union--look around, get your financing set up and buy the car for cash--there are some pretty nice MMs out there --and there will continue to be---have faith, Maury

I cant imagine how hard a hit my score is gonna take from this decline...FAWKKKKKKKKK

[RoyLPita]

Time to move on, Lenny. Find other VIN for me to run.

[Bradley G]

You have recieved some great advice here Lenny. Secure the financing first, sell your LSE privately. Keep looking for another Marauder. The only way I justified my purchase, was "D" plan pricing and 0% X 66 months

[OneBADLsE]

You have recieved some great advice here Lenny. Secure the financing first, sell your LSE privately. Keep looking for another Marauder. The only way I justified my purchase, was "D" plan pricing and 0% X 66 months


Yeah DPlan rocks!

Well, i have someone commin to take a look at the LSE this weekend. I'm gonna clean it up, fix the door actuator that fell into the drivers side door, clean the interior (which wont take long at all), and get in the neighborhood of $9000 for it. I have it up as 9700 firm.

[OneBADLsE]

Time to move on, Lenny. Find other VIN for me to run.


Im always lookin =)

:beer:

[RoyLPita]

Yeah DPlan rocks!

Well, i have someone commin to take a look at the LSE this weekend. I'm gonna clean it up, fix the door actuator that fell into the drivers side door, clean the interior (which wont take long at all), and get in the neighborhood of $9000 for it. I have it up as 9700 firm.

My guess is the rivit broke in half. It is an easy fix. I have done a few here and there.

[OneBADLsE]

My guess is the rivit broke in half. It is an easy fix. I have done a few here and there.


You hit the nail on the head. ;)

[larryo340]

This one must be sweet
http://www.mercurymarauder.net/forums/showthread.php?t=37540

[OneBADLsE]

One step ahead of you, my friend :D

[Blackened300a]

Uh oh low mileage DTR in the works?