I am buying a new 2015 Ford F150 and when working with the finance manager, he gave me a couple of financing options. The OTD price on the truck is $35600. The dealer offered 72 months at 3.9%. My credit score is 810 and I know I can't get a rate of 2.7% at my credit union. When I told the dealer this he offered me 72 months at 1.9% but I had to purchase the extended service plan for $2000. finance homework He was trying to sell this to me by saying this would be the same monthly payment as if I didn't have the service plan and had the 3.9% rate so he was saying I was basically getting the warranty free. When I asked if I could have the 1.9% rate without the warranty he said they can't do that, but he did tell me I could get it and cancel it so that it would be credited back to my loan. While the warranty sounds good (5yr/100k) I feel that I could get it much cheaper through a 3rd party.
Should I purchase the warranty and cancel so that I can get the lowest rate? Or, should I not mess with ford financing at all and just go with my credit union? Thanks for all the help!
Should I purchase the warranty and cancel so that I can get the lowest rate? Or, should I not mess with ford financing at all and just go with my credit union? Thanks for all the help!
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