Ford Credit Problems?

I haven't been able to connect or download info on my car loan from Ford since 3/15/22 (via ExpressWebConnect).

I also don't see anyway to download history or a quicken transaction file from the Ford website.
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  • UKR
    UKR SuperUser ✭✭✭✭✭

    Just my 2cents' worth ... I would not bother attempting to activate any loan or mortgage account for downloading. I would just simply set them up as "offline" (manual) loan accounts with a Scheduled Reminder to record the monthly payment. 
    (Not discussing LOC or HELOC accounts here. They should be set up like credit card accounts)

    At least in Quicken for Windows, an online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

    As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

    Effective with Quicken Windows 2018+
    you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.

    If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments from your checking account.

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    I haven't been able to connect or download info on my car loan from Ford since 3/15/22 (via ExpressWebConnect).
    I agree with what @UKR said.  It's a personal choice, however.  Those who don't care to see all the transaction details and are happy with just seeing the current loan balance will probably be happy with connecting their loan to the lender.  Those who want or need to see all the transaction details and also be able to link the payment made from the checking account to the loan account will probably be most happy with keeping it a manual loan.
    I also don't see anyway to download history or a quicken transaction file from the Ford website.
    The FIDIR List (Financial Institution Directory List) shows that Ford Credit does not support Web Connect.  Web Connect support is required for manually downloading transactions & account data in QFX format (the format required by Quicken) from the online account.  So you will not be able to manually download anything from Ford Credit and directly import into Quicken.
    (QW Premier Subscription: R44.20 on Windows 11)
  • UKR
    UKR SuperUser ✭✭✭✭✭
    jholland9999 said:
    I also don't see anyway to download history or a quicken transaction file from the Ford website.
    The FIDIR List (Financial Institution Directory List) shows that Ford Credit does not support Web Connect.  Web Connect support is required for manually downloading transactions & account data in QFX format (the format required by Quicken) from the online account.  So you will not be able to manually download anything from Ford Credit and directly import into Quicken.
    You don't need to download transaction history into your loan account register. You already have the monthly payment transactions of the past in your checking account register. All you need to do is edit each of those transactions and change the Split Transaction detail lines #1 and #3 to point to the loan account, "[Ford Car Loan]" or whatever you call it, instead of some Loan:Principal (or similar) category.
    Line #4 can be totally blank.
    Here's an example of what the Split detail (in my old home mortgage) looked like:

    Your Split detail should be similar.
    Change the actual Scheduled Reminder which you use to make new monthly payments to use the same categories, too.
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