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Old 05-26-2020, 02:58 PM   #31
kognito
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Old 05-26-2020, 03:36 PM   #32
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I do hear that loan processing is really bogging down (and drying up).
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Old 05-26-2020, 04:09 PM   #33
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We got close to 10K off of MSRP. Some of that was due to it being a demo with 1290 miles on it, 5300 of the discount was for using Ford Credit another 1250 came from Ford with differed payment.

We could have gotten 0% or 0.9% from Ford, but the car price would have gone up by 5300 bucks.

Seemed like a no brainer to take the 5300 and then refinance. We just didn't think it would be so difficult to refinance. The 4.14 quote I got from BoA is only good for 30 days, if Ford takes longer to set up our account, I might get screwed further. The 1250 discount with differed payments means our first payment isn't due til 8/26

I can't believe Ford would wait long in setting up our account, but, you know, COVID
Credit Union?

At worst, you can join PenFed (if you're not in a category that's automatically eligible, a nominal contribution to one group or another will make you eligible). Their refi rates today are listed at 2.14% @ 36mo to 2.99% @ 72 months and looks like they have a $250 rebate for any refi done by the end of the month.
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Old 05-26-2020, 07:13 PM   #34
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Credit Union?

At worst, you can join PenFed (if you're not in a category that's automatically eligible, a nominal contribution to one group or another will make you eligible). Their refi rates today are listed at 2.14% @ 36mo to 2.99% @ 72 months and looks like they have a $250 rebate for any refi done by the end of the month.
So far, local credit unions are online applications only. I tried two different unions, and neither web app allow me to proceed to the next step when I had no current job to enter. One allowed me to enter "retired" but still wanted to know the name of my employer Both had provisions to make office appointments, but only to existing members not new members.

I'll check out PenFed, but right now it seems best to just go with BoA and revisit the whole thing when COVID clears
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Old 05-27-2020, 02:46 PM   #35
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--no blind spot monitoring (which would be helpful),
Just learn how to set your mirrors.
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Old 05-27-2020, 02:50 PM   #36
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Just learn how to set your mirrors.
Oh, yes. I learned this a long time ago--probably from one of these sites. This knowledge, plus an understanding the utility of winter tires, are all but forgotten among the masses!
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Old 05-27-2020, 02:52 PM   #37
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So far, local credit unions are online applications only. I tried two different unions, and neither web app allow me to proceed to the next step when I had no current job to enter. One allowed me to enter "retired" but still wanted to know the name of my employer Both had provisions to make office appointments, but only to existing members not new members.

I'll check out PenFed, but right now it seems best to just go with BoA and revisit the whole thing when COVID clears
Ugh. I worry about this kind of thing when I'm retired and want to buy a house with a mortgage...They don't care how much money you have in the bank, all they want to see is verifiable income (and low debt).
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Old 05-27-2020, 04:32 PM   #38
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Ugh. I worry about this kind of thing when I'm retired and want to buy a house with a mortgage...They don't care how much money you have in the bank, all they want to see is verifiable income (and low debt).
I hear you, but my income is verified, BoA knows they and Merrill are holding close to a million of my money, paid cash for our home, and my fico came in at 864. What annoyed me most yesterday that I was quoted a little over 1% above their advertised rate.

Clyde, thanks for the PENFED info. a little scary that all I gave them was my cell # and name and they autofilled everything on the 3 page enrollment screens.

I really can't do anything til I have account# info from Ford.

Right now, the wife and I are discussing just sending cash to Ford to own the car, and refinance the GMC when the lease is up in September. (the GMC is worth too much to just return it at lease end) similar trucks to mine with the same low mileage are listed at 34-35K residual is a little under 29K.

We'll see which way the wind blows tomorrow
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