Ford Motor Credit is the worst company to ever get a auto loan from. I financed a car from them in 2002 and it has been nothing but a headache since.
First of all the dealer said Ford Motor Credit would not finance me unless I purchased a two thousand dollar warranty on a 1997 ford escort only worth 4k at the time. Not to mention I put 2k down on the vehicle and they say I still owe them 1500.00.
I was a second time car buyer. The first car I purchased also was financed by them. That car was totaled in an accident. I figured it would be so easy to get a loan through them again because I never was late on ANY of my payments. Not as easy as I thought it would be is an understatement. With a 26 1/2 % intrest rate on a 5 year term.
I voulentaraly surrndered the vehicle in March of still owing them almost $4,000. How is this possible. They call my work 7 times per day and argue with me about my payments. My boss has told them several times that if they keep calling I won't have a job to make the payments.
They have sold the car and said they would settle for 1500.00. I offered to pay 50.00 a month until I paid it off and they said no that if I did not pay in FULL I would have to pay 3000.00 back. I understand this is my responsibility I rushed into buying a car but I was only 19 at the time and was screwed royaly by this company. Beware all!!
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