Ford Options...Ugh

[generaltso]

I might be wrong

Yup, you are.

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[RedStallion]

Best thing to do is use this spreadsheet. Poll: Ford Options vs Finance | Page 7 | Ford Mustang Mach-E Forum - MachEforum.com

Working through it. Taxes in CA are calculated differently than in AZ. But even with those corrections I don't quite get the same numbers.

 

[prdude]

My dealer is on the phone struggling with Ford Credit rep to figure out my options plan as well...

it took my dealer a week and a half to figure it out LOL

 

[RedStallion]

Yup, you are.

Not helpful.

 

[zhackwyatt]

Working through it. Taxes in CA are calculated differently than in AZ. But even with those corrections I don't quite get the same numbers.

Now far off? @macchiaz-o can chime in, but I think it came out to a few dollars different per month with his Ford options.

 

[RedStallion]

Now far off? @macchiaz-o can chime in, but I think it came out to a few dollars different per month with his Ford options.

My contract has monthly payments $30 lower than spreadsheet predicts, but balloon payment is about $1500 higher.

 

[macchiaz-o]

My contract has monthly payments $30 lower than spreadsheet predicts, but balloon payment is about $1500 higher.

First thing we have to fix is your balloon amount.

This is based on your selection of vehicle, annual mileage allowance, and 36 or 48 month term. Can you check those things on the spreadsheet and verify they are correctly specified?

 

[generaltso]

Not helpful.

How was that not helpful? You acknowledged that you might be wrong about how they handle the residual value, and I confirmed that what you said was in fact incorrect. I even added a smiley to make sure I wasn’t being rude.

 

[JSOrange97]

it took my dealer a week and a half to figure it out LOL

Well we finally got it done, so I guess I should feel lucky it only took four hours.

 

[eltonlin]

How was that not helpful? You acknowledged that you might be wrong about how they handle the residual value, and I confirmed that what you said was in fact incorrect. I even added a smiley to make sure I wasn’t being rude.

Fact.

 

[RedStallion]

I think the dealer tricked me signing a different contract. I asked for 36 month Ford Options with 10500/year mileage. What I got is a contract that looks very much like that, with 2.25% APR, 35 payments, $2500 rebate, and balloon payment. But the contract nowhere mentions excess wear and mileage charges. Neither it mentions anywhere the right to return the vehicle after 3 years.

 

[supertramp]

I think the dealer tricked me signing a different contract. I asked for 36 month Ford Options with 10500/year mileage. What I got is a contract that looks very much like that, with 2.25% APR, 35 payments, $2500 rebate, and balloon payment. But the contract nowhere mentions excess wear and mileage charges. Neither it mentions anywhere the right to return the vehicle after 3 years.

Does your contract say then that you have to take (buy it out) after 36 months?

 

[RedStallion]

Does your contract says then that you have to take (buy it out) after 36 months?

 

[back_at_it_19]

If the dealer did it right it should have language re financing the balloon, turn back, and trade at the end of of the term like @hybrid2bev shared here:
https://www.macheforum.com/site/threads/leasing.3959/#post-120605

 

[hybrid2bev]

If the dealer did it right it should have language re financing the balloon, turn back, and trade at the end of of the term like @hybrid2bev shared here:
https://www.macheforum.com/site/threads/leasing.3959/#post-120605

The Fed Box @RedStallion shared looks like the generic LAW contract that is used in CA. It won’t have the exact same language as the Ford Credit proprietary contract would (like mine here in MI that I shared). But don’t worry the CA LAW contract will still be put on the books under the Options program and serviced accordingly. There should have been a separate mileage disclosure form signed in addition to the contract form.

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