John Kapili Free Programs

I purchased a new 2010 F150 Lariat in Late December from Capital Ford in Raleigh NC.

I never had concerns about what I had paid for the vehicle. So the price is not the issue.

It is the Financing Interest Rate that I was told by Daniel of Capital Ford finance department "was the best rate that I qualified for from Ford Credit." I was going to pay Cash for my purchase, but I was told I could get another $1000.00 off if I would finance. I was told since I was going to pay it off it really did not matter. Does it?

My only concern was the financing quote that Daniel had given me and my repeated questions about the loan rate of 7.99% being the best rate that Ford Credit was giving me, per Daniel. My credit rating being perfect (possibly better than perfect) My cash ($10,000.00) and trade in($5000.00) not excluding Tax Tag Title Cash, financing over half the sale price to get a rebate of $1000.00 that my rate would be 7.99% from Ford Credit. Daniel repeating that this was the best rate that Ford Credit would give me I signed. After thinking this over more I readdressed my question to Daniel. Again Daniel said this was the best rate I could receive from Ford Credit and if I didn't believe him I should call Ford Credit myself, which I did ( not excluding the remark about reading the information on the walls in the hall). Ford Credit told me that they do not set the rate, it is between the customer and Dealer at the time of the sale. I readdressed this again to Daniel, Mr. Cecil (both) and also with the Manager in charge in absence of Mr. Michael.

At no time has anyone except Daniel told me that 7.99% was the best rate that I should have qualified for from Ford Credit. This is the issue and nothing else.

So if I should have qualified for a better rate from Ford Credit to receive the Rebate of $1000.00 I should have no concerns? I'm sorry but I do. If I did qualify for a better rate from Ford Credit and Daniel inflated the rate, then who possibly benefits from this,,, Ford Credit , Capital Ford or Me. I feel that my best interest was not part of this equation. I was up front as to what my intentions where through the whole process.

Mr. Kapili,
I am sorry that you do not like the interest rate you received that night but on that night you had the option to pay cash for the truck at your agreed upon price or you were offered another option which gave you an additional $1,000 rebate the only requirement was that you finance the vehicle with Ford Credit (which was making the offer of the rebate). You made the decision to take advantage of the offer which was a very smart decision (I think) and you agreed to the rebate and the interest rate that was offered to you by our Business manager. I believe our people did have your interest in mind by making this offer to you because it did save you money. We have offered to seek other financing for you if you feel the rate is to high with Ford Motor Credit and that offer is still on the table. Thank you for sharing this information and concern with me and I only wish you and your new truck the best.

Timothy Michael

Mr. Michael,
Thank you for not answering my question. I understand. You are correct I did sign the papers going on the word of your employee Daniel. I still do not feel Ford Credit set the interest rate of 7.99%. It is my opinion that Daniel representing your company (Capital Ford) inflated the interest rate over the required amount of Ford Credit. It is a shame that some see this as looking after the customers best interest and an acceptable practice. I tried to bring this to your attention because I thought you might not have known about this. I wanted nothing from Capital Ford other than to inform and correct a problem for myself and the many other customers that might fall victim to this practice. I do feel that the public should be made aware of what Ford Credit informed me of, ( Ford Credit does not set the rate it is negotiated between the Buyer and Seller) so they may not make the same mistake I made.

The honor of a mans word is his soul. The silence of a mans word is something he must live with. I will be fine. Nothing further is needed.

My advise to anyone financing a vehicle. Be very weary of deals and rebates. You really get nothing for free. Be very careful of who you trust.