Ford Options Financing

[SmoothJ]

That's my
That's what I'm trying to figure out. If you go with an 84 month loan, which I know doesn't make tons of financial sense but I'd argue an 80k truck doesn't either, it's similar to the Ford Options. The only difference is you don't have a pre-negotiated number to trade it in. If you do 36 months on the options, you still have a massive balloon payment that needs to be likely financed over another 3-4 years. You might as well go 84 months financing unless you really like a lease like agreement with no long term risk. You can just walk away.

Thats mainly it right there. I am used to leasing, and I have been doing it for years as I honestly get an "itch" and usually don't like to keep cars no more than 2-3 years anyway. However I have been waiting for an electric vehicle, thats also a truck, for long time. So I might buy this and keep it for a number of years. Just worried about the first year bugs, and this being a "unique" build for Ford - "Ford CEO Jim Farley recently stated that the 2022 Ford F-150 Lightning does not represent the future of the company's EV pickups."

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[Theo1000]

@Theo1000 I want to go the Ford Options route, but the dealership is trying to convince me otherwise saying the math doesn't make sense, and its best to do 84 months instead (which is scary), and pay off a bit more every payment. I know this is a common sales tactic, however he could be right. For 4 years, the residual is 38% I think.

Yay! dealerships are still uncomfortable with Ford Options. Its only on the Mach-E and the Lightning so they do not get asked a lot. Push for it, it lowered my Monthly payment about $350.

The numbers make sense once you factor in inflation.

 

[SmoothJ]

Yay! dealerships are still uncomfortable with Ford Options. Its only on the Mach-E and the Lightning so they do not get asked a lot. Push for it, it lowered my Monthly payment about $350.

The numbers make sense once you factor in inflation.

If you don't mind me asking, what was your rate? Also, are you a previous FMC customer?

 

[sotek2345]

Yay! dealerships are still uncomfortable with Ford Options. Its only on the Mach-E and the Lightning so they do not get asked a lot. Push for it, it lowered my Monthly payment about $350.

The numbers make sense once you factor in inflation.

350 lower vs. what?

If I look at 75k financed (Lariat ER + TTL - trade / down payment)

72mo @ 2.49% is ~$1,122/mo. - ~$25k owed after 48 months

48mo. Ford options (4.9%, 38% residual) is ~$1,140/mo. but much more interest paid. Still owe $30,400 after 48 months (balloon payment)

 

[metroshot]

That's my
That's what I'm trying to figure out. If you go with an 84 month loan, which I know doesn't make tons of financial sense but I'd argue an 80k truck doesn't either, it's similar to the Ford Options. The only difference is you don't have a pre-negotiated number to trade it in. If you do 36 months on the options, you still have a massive balloon payment that needs to be likely financed over another 3-4 years. You might as well go 84 months financing unless you really like a lease like agreement with no long term risk. You can just walk away.

I was in the same boat - wanted the Ford Options to see if it's something I'd keep come balloon note time.

Usually I lease to test out first year model vehicles.

Since there are no incentives nor any subvented rates, and Ford red carpet lease looks bad without any tax credit, I am going the 84 month finance route thinking if there is an issue or need to sell, I could do so without being upside down (for a few years).

Just got approved for 3.49% for 84 months thru my CU.

Don't think my dealer will be able to touch that...

 

[Theo1000]

If you don't mind me asking, what was your rate? Also, are you a previous FMC customer?

I got 4.9% like everyone else. I already have the Mach-E on options at 2.29%.

Options makes sense if you put cash down and plan to payoff when the market is right. But yes if you let it run for 4 years the total payout can be higher.

 

[SmoothJ]

I got 4.9% like everyone else. I already have the Mach-E on options at 2.29%.

Options makes sense if you put cash down and plan to payoff when the market is right. But yes if you let it run for 4 years the total payout can be higher.

The cash I was going to put down, is now paying off the negative equity of my current truck. So how much did you put down?

 

[Theo1000]

The cash I was going to put down, is now paying off the negative equity of my current truck. So how much did you put down?

21k

 

[millim]

FWIW the dealership tried to match my CU's 2.99% today and they were only able to get to 3.49% (or maybe 3.59%), so I stuck w/ the CU.

 

[metroshot]

FWIW the dealership tried to match my CU's 2.99% today and they were only able to get to 3.49% (or maybe 3.59%), so I stuck w/ the CU.

Thanks for sharing that - I am going in this week to F&I and I don't think they can beat my 3.49% for 84 months at my CU.

IF they can, then I'll report back!

And today was the delivery to dealer day - too bad the new vehicle team is out till Monday....

 

[Firestop]

FWIW the dealership tried to match my CU's 2.99% today and they were only able to get to 3.49% (or maybe 3.59%), so I stuck w/ the CU.

Same for me today when I picked up mine…I kept my CU’s 2.74%

 

[Aspesi4]

Anyone recently take the Ford Options financing route? Still interested in this option, but the dealer refuses to discuss finances with me until delivery time.

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