Financing the 2022 Lightning Purchase - Add Your Options

[YankeeCP]

Yes you just do a small donation to a teachers association, they will do it for you. Easy piezy, call their loan dept to start

Great info- I will Give them a call tomorrow and look to get the process rolling so I can take
Advantage of the promo. And deal with it later if I
Don’t take delivery by the end of the year

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[Prmaverick]

Any descent CU in Florida?

 

[TheBigBezo]

Great info- I will Give them a call tomorrow and look to get the process rolling so I can take
Advantage of the promo. And deal with it later if I
Don’t take delivery by the end of the year

Any luck with them? Is it possible to use them despite not being in California? I see their website says vehicles must be titled in California. My local CU is now over 5% so securing a 2.49% rate would be amazing.

 

[YankeeCP]

Any luck with them? Is it possible to use them despite not being in California? I see their website says vehicles must be titled in California. My local CU is now over 5% so securing a 2.49% rate would be amazing.

Nope called and tried to
Find any loophole. Has to Be California

 

[jaturner]

Anyone have any luck recently finding a decent rate?

My Lightning is scheduled to be built this week so started looking around again.

I had been keeping my eye on InteriorFCU , but their rates just took a massive jump.

Parsons looks like the best option I have found so far for non CA Residents. Anyone had any recent experiences with them?

 

[JPro]

Anyone have any luck recently finding a decent rate?

My Lightning is scheduled to be built this week so started looking around again.

I had been keeping my eye on InteriorFCU , but their rates just took a massive jump.

Parsons looks like the best option I have found so far for non CA Residents. Anyone had any recent experiences with them?

I recently was financed thru Parsons about a week and a half ago at 3.99% for 72 months. I live in Washington State. It's not as easy as using the dealers financing and I had to pay for them to overnight a check (they were going to fed ex it 3-4 day). Once I got the loan approved and sent them the PO and insurance verification I couldn't get a hold of my loan processor. I had to call the main branch and go thru the phone tree to the auto loan dept and was then able to expedite getting the check sent out to arrive the next day. I'm glad I was able to get that rate vs the 5.99 the dealer could get me but I put some effort into making it happen.

 

[YankeeCP]

I recently was financed thru Parsons about a week and a half ago at 3.99% for 72 months. I live in Washington State. It's not as easy as using the dealers financing and I had to pay for them to overnight a check (they were going to fed ex it 3-4 day). Once I got the loan approved and sent them the PO and insurance verification I couldn't get a hold of my loan processor. I had to call the main branch and go thru the phone tree to the auto loan dept and was then able to expedite getting the check sent out to arrive the next day. I'm glad I was able to get that rate vs the 5.99 the dealer could get me but I put some effort into making it happen.

Do you know if they will allow refinancing with those terms? This way I can just pay cash and have them send me the check

 

[JPro]

Do you know if they will allow refinancing with those terms? This way I can just pay cash and have them send me the check

You would need to check with them, since I didn't do it that way, I can't speak to that.

 

[3rdgenfan]

I prequalified with Parsons for 3.99 and 72mo but wound up going with Tower FCU 60mo @ 2.99%. They claim it'll be a blank styled check where I can negotiate everything and go out as if it were a cash sale but so far I'm not getting that vibe.

 

[YankeeCP]

Looks like Parsons have extended the EV rates for January

 

[bordner42]

Best options outside of Parsons?

 

[ChrisC]

Does anyone know about the Ford Options plan? The website says it is "an alternate way to purchase the Mustang Mach-E or F-150 Lightning with lower payments, greater flexibility and a straightforward return process. Ford Options is a retail balloon financing plan where you make lower monthly payments during the course of the transaction when compared with traditional retail financing and a balloon payment at the end of the contract term. At the end of your contract, you'll have the option to pay your balloon payment and retain your vehicle, renew into a new Ford or Lincoln or return your vehicle."

I am wondering if anyone else is thinking of doing this option or has experience with it? It has a 3 year and 4 year plan that can be refinanced. Why are they only offering this type of plan with the EV? I just put my order in and was thinking of using my credit union new green car loan if this deal is not a good as it seems.

https://www.ford.com/finance/finance-options/ford-options/

 

[OrangeCrush]

Does anyone know about the Ford Options plan? The website says it is "an alternate way to purchase the Mustang Mach-E or F-150 Lightning with lower payments, greater flexibility and a straightforward return process. Ford Options is a retail balloon financing plan where you make lower monthly payments during the course of the transaction when compared with traditional retail financing and a balloon payment at the end of the contract term. At the end of your contract, you'll have the option to pay your balloon payment and retain your vehicle, renew into a new Ford or Lincoln or return your vehicle."

I am wondering if anyone else is thinking of doing this option or has experience with it? It has a 3 year and 4 year plan that can be refinanced. Why are they only offering this type of plan with the EV? I just put my order in and was thinking of using my credit union new green car loan if this deal is not a good as it seems.

https://www.ford.com/finance/finance-options/ford-options/

I ran the numbers and decided that it was not worth the additional cost (over Parsons 3.79%) to have the option of just turning in the truck after 3 years if I need to. I don't have the numbers any more, but I think you will end up paying over $3K more in interest to have that option.

 

[TX_Gator]

I prequalified with Parsons for 3.99 and 72mo but wound up going with Tower FCU 60mo @ 2.99%. They claim it'll be a blank styled check where I can negotiate everything and go out as if it were a cash sale but so far I'm not getting that vibe.

@3rdgenfan How did it work out with Tower FCU? Did they come through with the check?

 

[3rdgenfan]

@3rdgenfan How did it work out with Tower FCU? Did they come through with the check?

They did in fact end up coming through! I had to go down to the dealer on the 27th to do some paperwork and the deposit since Tower needed the signed purchase agreement, then the next business day they called me to confirm the numbers and overnighted the check. Of course FedEx delayed it a day and a half but picked up the truck from Garnet Ford on the 30th.

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