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Forum » Ford Removes Minimum FICO Score Requirements For 84 Month Loans
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Thread: Ford Removes Minimum FICO Score Requirements For 84 Month Loans

post 1648929423 10-14-2021, 02:26 PM
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#1
  1. DivineMasculine
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  1. DivineMasculine
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Ford Removes Minimum FICO Score Requirements For 84 Month Loans

Yes, those pesky FICO scores determining who does and who doesn't have the means to pay or a history of paying bills will finally no longer have leverage over the broke, spend-heavy U.S. consumer.

Ford sent a bulletin to dealers this week announcing they would be removing the requirement, CarsDirect wrote.

Our proprietary scoring models do an excellent job of assessing the probability that an applicant will be able to pay. FICO is one input. Eliminating the separate FICO requirement opens the prospect of financing to more customers who would qualify for 84-month financing within our models regardless of their FICO score," Ford Credit spokesperson Margaret Mellott told CarsDirect.

84 month loans routinely have higher interest rates than most other loans. CarsDirect points out that a current 6.9% rate on a 2022 Ford Bronco Sport would make the vehicle, listed at $40,000, actually cost $50,000.


It’s fookin clown world boyos. Survival mode
The misc is full of a bunch of simp ****ots
post 1648929733 10-14-2021, 02:31 PM
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#2
  1. Barteh
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Obviously this requirement was racist. Good riddance.
post 1648929763 10-14-2021, 02:31 PM
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#3
  1. BalognaNbeans
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lmao at 84 month loan
post 1648929883 10-14-2021, 02:33 PM
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#4
  1. bsmit107
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  1. bsmit107
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Isn't this how the housing collapse started (in over simplified terms)?
post 1648929963 10-14-2021, 02:34 PM
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  1. luckyboy23
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Bubble incoming!
post 1648930043 10-14-2021, 02:36 PM
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#6
  1. litljay
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  1. litljay
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Current depreciation on a car is a lot slower these days than before, so their risk is less. They don't care if they end up with the car back.
You don't have to be great to start, but you have to start to be great.
post 1648930113 10-14-2021, 02:37 PM
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#7
  1. leoaa777
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This will surely end well.
☆ Member of the Brave 767 crew ☆ Never forget.
-Florida Gators-
post 1648930183 10-14-2021, 02:38 PM
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  1. luckyboy23
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Originally Posted By litljay⏩
Current depreciation on a car is a lot slower these days than before, so their risk is less. They don't care if they end up with the car back.
They will end up writing off the losses and front the bill on others, not themselves.

Also, watch for competitors to follow suit.
post 1648930353 10-14-2021, 02:40 PM
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  1. WellHungOver
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Stupid people will buy and default on these left and right. I say go for it.
post 1648930473 10-14-2021, 02:41 PM
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  1. stevemckenna
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Originally Posted By Barteh⏩
Obviously this requirement was racist. Good riddance.
No, sounds like more white privilege considering Ford's best selling line of cars (Mustang, F150, Bronco) appeal mostly to the white demographic.
post 1648930803 10-14-2021, 02:47 PM
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  1. gainztrain818
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Lol, the U.S economic system feasts on economic illiteracy.
INTJ crew
Investor crew
World traveler crew
post 1648931833 10-14-2021, 03:09 PM
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  1. donalduck
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7 ****ING year car payment lmfao.

Brb pay last payment
Brb car died 2 years prior
lmfao
post 1648931953 10-14-2021, 03:10 PM
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#13
  1. SleepWithFan89
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Looks like my new Ford lightning is back on the menu boys
post 1648932233 10-14-2021, 03:16 PM
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lmfao @ 7yr car loans.
n4l
Rayaarito
fappin
r32gojirra
post 1648932413 10-14-2021, 03:19 PM
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#15
  1. wasp9166
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  1. wasp9166
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Lol

If you can't do the math to figure out when you get to 200k,which is about the life of most cars

Sure there are plenty of exceptions but thats the number I use

Would you even know or care about your fico ?

7 years is 30k a year ,that's lease mileage lol

Ford needs to give sh away cuz that's what they are sh


They'll get a bailout and the rest of us will suffer

2008 is coming again

So.pepper your escort
post 1648932523 10-14-2021, 03:20 PM
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  1. nothingshocking
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Originally Posted By WellHungOver⏩
Stupid people will buy and default on these left and right. I say go for it.
My buddy's dad made a fortune in Chicago selling Ford escorts to people who couldn't afford them in the 1980's and 90's. The finance division made all the money, and they sold em and repo'd them right back and didn't give a single fuk.
post 1648932553 10-14-2021, 03:21 PM
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#17
  1. DolphinPilot
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as far as I know this isn't really new. Some lenders allow 10 year loans on cars, too...

tears me up inside tho fo real ngl
post 1648932593 10-14-2021, 03:22 PM
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#18
  1. dabbmw2002
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Post deleted by user
Original Ruckus
post 1648932613 10-14-2021, 03:22 PM
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  1. Evantus
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I always do a new car every 5 years, tax deductible, 5 year loan with interest free and no fees. It works out good so far and don't need to worry about expensive repairs because 5yr warranty usually.
post 1648932723 10-14-2021, 03:23 PM
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#20
  1. wasp9166
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Lol at getting a warranty on anything

You never come out ahead

Learn how to fix sh
post 1648932733 10-14-2021, 03:24 PM
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  1. WoofieNugget
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If I was selling cars I'd be heading to work for a Ford dealer ASAP. Tons of people will buy thinking "yay low payment and I can get it with bad credit." You can make a fortune off of stupid people.
post 1648933173 10-14-2021, 03:33 PM
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#22
  1. SamIAm1892
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Nice mang! Now I can get me a Gt350R with my mcdonalds job.

Bishes be wet when they see me pulling in.
post 1648933443 10-14-2021, 03:37 PM
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  1. Witherman
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fukk yeah going to buy a new f-350 platinum king ranch dually diesel baby
Lets Go Brandon
Pureblood
post 1648933673 10-14-2021, 03:41 PM
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  1. kovalchuk71
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Originally Posted By wasp9166⏩
Lol

If you can't do the math to figure out when you get to 200k,which is about the life of most cars

Sure there are plenty of exceptions but thats the number I use

Would you even know or care about your fico ?

7 years is 30k a year ,that's lease mileage lol

Ford needs to give sh away cuz that's what they are sh


They'll get a bailout and the rest of us will suffer

2008 is coming again

So.pepper your escort
What lease allows for 30k miles a year????? Lol.
***Misc Med Crew***
***No Social Media Crew***
post 1648933993 10-14-2021, 03:48 PM
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#25
  1. Archaic2021
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Originally Posted By DolphinPilot⏩
as far as I know this isn't really new. Some lenders allow 10 year loans on cars, too...

tears me up inside tho fo real ngl
I currently worked in Parts at a Ford Dealer.

When I was at CDJR dealership, they would go 96 months and also give rebates if your credit score was below 620.
"Equality is a False God"
"Comparison is the thief of joy."
post 1648934373 10-14-2021, 03:56 PM
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#26
  1. helpmee
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I used to do finance for a bad credit place.
We would only go 72 months
But MOST of the poorcells that did not pay bills would get 72 month loans at 20% interest
99% of the vehicles were under 20k.
18k loan x 72 at 20% was just over 30k (most defaulted of course)
**Black out tape over all laptop/cell phone cameras so gov cant spy on me fapping crew**
post 1648935583 10-14-2021, 04:18 PM
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#27
  1. tunafishha
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Damn, I need Honda to do this so I can git me a another Accord, in jet black.
*Catholic Crew*
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*5'5 Masterrace*
*Starbucks Crew*
*Buy high, sell low*
post 1648935773 10-14-2021, 04:22 PM
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#28
  1. FrankGrimesJr
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The way used cars are appreciating now a days, it's a good idea.
post 1648936113 10-14-2021, 04:29 PM
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#29
  1. dabbmw2002
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Post deleted by user
Original Ruckus
post 1648936253 10-14-2021, 04:34 PM
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#30
  1. OT2000
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Originally Posted By BalognaNbeans⏩
lmao at 84 month loan
So much this
I probably banged your mom.

Eat the whole animal like a real man.
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