My last Ford!
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Joined: Jan 2007
Posts: 1
My last Ford!
Hello all, I will try to make this as short as I can.
I just sold my 04 F150 Lariat. I loved the truck but had to sale it because I needed money to put down on my new home. The truck had a MSRP of near 40k in O4. So it was a very nice truck, and I loved it. The problem I had was not with the truck, but with Ford Credit. I financed with Ford because of the interest rates. Everything was great untill I sold the truck. I sold the truck for $30k, and I only owed $21k. Well the guy that bought the truck of course got a loan for the $30k, and I had to send the total amount from his credit company to Ford Credit. I called Ford Credit to find out how this is done. They said that they would have a 10 day processing time, and then would return my Title, and the difference in my Pay Off amount. I waited the ten days, and recieved my title. That is great, but I need my $9k. I of course called, and they said it should be only a couple more days for the processing. Couple days go by, and I call back. They then inform me that I will need to wait 30 days to recieve my money. Nothing I can do. They are going to just keep my money for a month. I know the check has cleared, by checking with the other credit company, and this is also evident since they sent me my Title. I don't think they would send a title if the check didn't clear.
Well the truck was great, but Ford Credit has failed me misserably. I will never deal with Ford again. I needed the money for my new house, and now I will have to get a loan for that money, so that Ford can make interest on that money while I pay.
So If you are looking to buy a new Ford..... Maybe you should concider other credit companies. Or at least maybe you should call Ford Credit first, and ask them if they are going to put you in the same situation if you pay off your loan in the same manor.
Is this even legal for them to just keep my money? I know that It would be a serious situation if I would just keep their money.
I just sold my 04 F150 Lariat. I loved the truck but had to sale it because I needed money to put down on my new home. The truck had a MSRP of near 40k in O4. So it was a very nice truck, and I loved it. The problem I had was not with the truck, but with Ford Credit. I financed with Ford because of the interest rates. Everything was great untill I sold the truck. I sold the truck for $30k, and I only owed $21k. Well the guy that bought the truck of course got a loan for the $30k, and I had to send the total amount from his credit company to Ford Credit. I called Ford Credit to find out how this is done. They said that they would have a 10 day processing time, and then would return my Title, and the difference in my Pay Off amount. I waited the ten days, and recieved my title. That is great, but I need my $9k. I of course called, and they said it should be only a couple more days for the processing. Couple days go by, and I call back. They then inform me that I will need to wait 30 days to recieve my money. Nothing I can do. They are going to just keep my money for a month. I know the check has cleared, by checking with the other credit company, and this is also evident since they sent me my Title. I don't think they would send a title if the check didn't clear.
Well the truck was great, but Ford Credit has failed me misserably. I will never deal with Ford again. I needed the money for my new house, and now I will have to get a loan for that money, so that Ford can make interest on that money while I pay.
So If you are looking to buy a new Ford..... Maybe you should concider other credit companies. Or at least maybe you should call Ford Credit first, and ask them if they are going to put you in the same situation if you pay off your loan in the same manor.
Is this even legal for them to just keep my money? I know that It would be a serious situation if I would just keep their money.
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