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This week, I got a letter in the mail from GM Financial that said, in part: "GM Financial has purchased the Motor Vehicle Retail Installment Contract you recently signed." Interestingly, Ford Credit turned me down.... Cracks me up! [80?]
 

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This week, I got a letter in the mail from GM Financial that said, in part: "GM Financial has purchased the Motor Vehicle Retail Installment Contract you recently signed." Interestingly, Ford Credit turned me down.... Cracks me up! [80?]
"Quality is Job One"

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A bank's name doesn't change the fact that it's a bank...
 

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Discussion Starter · #5 ·
Actually, the letterhead says GM Financial/AmeriCredit... But it blows my mind that GM would be financing the purchase of a new Ford vehicle. What's next - using your Home Depot card to buy stuff at Lowe's?!? :)
 

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They don't care what car you drive all they want is your money. Ford credit isn't even associated with Ford Motor Company it's a completely different company that was spun off of Ford. Like stated above it doesn't matter the name a bank is a bank.
 

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FMCC's 10-k. It's a means of providing financing assistance to Ford dealerships and customers.

"In the United States, under the Ford Credit and Lincoln Automotive Financial Services brand names, we provide financing services to and through dealers of Ford and Lincoln vehicles. In Canada, under the Ford Credit brand name, we provide financing services to and through dealers of Ford and Lincoln vehicles. We also provided financing of Mercury and non-Ford vehicles sold by these dealers and their affiliates. The results reported in Item 7 of Part II of our 10-K Report include Mercury, which Ford discontinued in 2010."
 

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My Fo is being financed by a Bank, but I never visit that Bank, I did all the paper work at my local Fo Dealer. Now that I'm trying to get rid of it, I can't 'cause I don't have the Title, it's no paid off yet, I tried, God knows I did! To take it in as a trade in car... The local Fo dealer (where I got it from), Mazda, Vw and Hyundai didn't wanted to take it. They suggest to me "try to sell it on the street"... Mr. Salesman did you understand I can't?! Well, it looks like I'm stuck to. I talked to my original salesman at Ford, he said "we can't take a Focus as a trade in now" (I was trying to jump into an Escape)
 

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My Focus was financed by Mitsubishi. Well lol, honestly part of the cash i shelled out for it was from selling our old Mitsubishi colt. Rest was from savings and tax refund. Well tax refund, so you could claim the German state kinda financed my Focus... XD But yeah GM taking over? I mean - WTF?
 

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My Fo is being financed by a Bank, but I never visit that Bank, I did all the paper work at my local Fo Dealer. Now that I'm trying to get rid of it, I can't 'cause I don't have the Title, it's no paid off yet, I tried, God knows I did! To take it in as a trade in car... The local Fo dealer (where I got it from), Mazda, Vw and Hyundai didn't wanted to take it. They suggest to me "try to sell it on the street"... Mr. Salesman did you understand I can't?! Well, it looks like I'm stuck to. I talked to my original salesman at Ford, he said "we can't take a Focus as a trade in now" (I was trying to jump into an Escape)
If Mexico was really so different, you couldn't trade it either.

I'm sure there's a way to pay off the bank as part of transferring a car, if you owe more than it's worth you'll have to come up with the difference just as you would here.
 

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CunFSS213, you need to find some other dealers. Every dealer I have ever dealt with in my 48 years of buying cars has accepted my vehicles with negative equity for trade. Unless your credit score is in the basement, dealers can usually find banks or credit unions who will agree to finance the negative equity on the trade in with a new car loan.
 

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@morrjr
It's hard to explain... There's only one dealer in Cancun for each brand... I mean only one Ford dealer, only one Mazda dealer, etc., so if I wanna visit a different dealer I must drive outside the state limit.
But we have a thousands of rooms in the hundreds hotels we have!
 

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TY @sailor
I never asked to the Bank before, I guess I need to go that way
That would help you I think.

Here the "payoff" amount changes daily, a quote on that might be good for a few days at most.

Purchaser of a car like yours would often pay the bank directly, or pay you & you pay the bank when the transaction can be done there to get ppwk. completed all at once. All part of completing the transaction once you agree to a sale price with a buyer.

"Street" transaction for newer/more valuable cars is usually done at a bank for money security anyways, not handling cash on the street when paper transaction can be guaranteed at a bank. All ppwk. & transfers done at once there, then taken to state facility for reg./title by the buyer.
 
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