Ford Credit Acceptance Rate?

M|B_3

Hello all

Apologies if this has been discussed already and after a search I can't find anything too specific regarding Ford Credit.

I'm looking to finance a Ford using Ford Credit on one of their 0% interest deals - I don't have any CCJs, etc, but my credit record isn't squeaky clean unfortunately.

Has anyone successfully gained acceptance via Ford Credit recently and I'm wondering how strict (their criteria) they are, etc, etc?

Many thanks to all in advance. :cool:

matt1987

Right here goes:

I decided to go with Ford credit to buy my new car about 3 weeks ago now. They were advertising credit at 7.9% which i was happy with, but in the end it worked out to 7.4%. Anyways, getting accepted!! My god iv never gone through soooo much trouble!!

Okay, so im only 20, never had any credit before, dont own my own home etc etc.

So i take a p45 in with me, along with numerous amounts of wage slips from my company that i work for, absolute !!!!! loads of bank statements, my driving license with counterpart, my out of date passport. They were still really picky!! With all this info!!!

They even phoned my workplace to speak to me, just to make sure i worked at the place i said... which is obvious considering id taken all that info.

I had to wait a week for a decision, and in the end they let me have the credit. The salesman said they are even funny about Police officers having credit.... they are very very very picky, and at one stafe i didnt think it was going to happen.

I personally dont think you will get it on a 0% because of how picky they are, but its worth a try.

I am only paying £315 credit charge which isnt bad at all, as my car was only £6845.

I hope this helps, and good luck!

Be prepared for a long saga.

TangledMemories_2

OH used to work for Ford.
The 0% finance deal normally involves 35% deposit, and the rest spread over a short period of time eg 2-3years...which normally involves a higher payment amount.

Just something to bear in mind so you don't fall off your chair when they announce that to you!

M|B_3

matt1987 wrote: »

Right here goes:

I decided to go with Ford credit to buy my new car about 3 weeks ago now. They were advertising credit at 7.9% which i was happy with, but in the end it worked out to 7.4%. Anyways, getting accepted!! My god iv never gone through soooo much trouble!!

Thanks Matt, much appreciated for the info; I'll certainly be prepared for a wait if needs be. I'm not in a rush fortunately and I have a car already, so I'm not stranded. :cool:

TangledMemories wrote: »

OH used to work for Ford.
The 0% finance deal normally involves 35% deposit, and the rest spread over a short period of time eg 2-3years...which normally involves a higher payment amount.

Hi TM - thank you for that. Fortunately, I have a PX that I guess will act as a full deposit? My current car has no finance and should be worth around £7000 (I'm looking at an OTR Price of £18,000).

I'll post with an update in future on how it goes, etc.

TangledMemories_2

OH says you should be able to use your car as full deposit. Just be aware that some main dealers will give you less than market value if you're using your current car as part ex.

M|B_3

TangledMemories wrote: »

OH says you should be able to use your car as full deposit. Just be aware that some main dealers will give you less than market value if you're using your current car as part ex.

Thank you TM for that, very helpful. Please thank your OH too for me, appreciate it. :cool:

I wonder would you mind asking your OH again for me, how strict Ford Credit generally are when it comes to credit records/history/scores, etc, etc?

Thanks!

TangledMemories_2

Hey no probs - he has his uses! LOL
He did say to me that when he worked for them they were very very picky about who they gave credit to. As long as you haven't defaulted or have CCJs I doubt you would have a problem.

M|B_3

TangledMemories wrote: »

Hey no probs - he has his uses! LOL
He did say to me that when he worked for them they were very very picky about who they gave credit to. As long as you haven't defaulted or have CCJs I doubt you would have a problem.

LOL, thank you again!

Does your OH happen to know what credit agency Ford Credit uses? (e.g. Equifax, etc, etc).

Thank you.

TangledMemories_2

He can't remember that one! Sorry!