Dealer says, "No invoice on a MME"

[kulaga]

We intended to do cash plus trade in but the dealers trade in offer was way too low. On top of that we asked for an out the door price but none was given! Ended up selling my Wife’s car for $5k more than the offer and bought car from another dealer for MSRP and No ADM! Their loss on both deals!!

Check out Carvana or one of the other online options for selling your car. It was my first time using an online service to sell a car and I was really impressed. Carvana gave the best price which was thousands more than the dealer offer. They picked up the car, paid off the note and I had cash in my account the next day. Even with a $60 Uber to the dealership, I came out about $4k ahead of the dealer offer.

Sponsored

 

[leeman]

Ford is moving to a Tesla model.

 

[yngwenli]

Depending on where you live, Ford is also offering a $2500 rebate if you use Ford Options. I highly recommend you look into that, especially if you plan on paying cash for the car. You can pay it off early to minimize finance charges while pocketing the rebate.

From the build a car website, I see:

Ford Options Retail Bonus Cash Program #14004: $2,500.00 Ford Credit Bonus cash requires Ford Credit financing. Not all buyers will qualify. Take new retail delivery from dealer stock by 10/04/2021. See dealer for complete details.​

-$2,500​

​

Ford Options APR Program #21276:Actual price and payments may be different due to local rebates, specials, fees, and credit qualifications. Consult your dealer for actual price, payments, and complete details.​

2.25%​

There's no way to really "Take new retail delivery from dealer stock..." unless you get lucky with a cancellation, were you able to use this yourself?

I also added up all the numbers on the website and the payoff after 36 months was $23,628, the Total Estimated Amount Financed was $45,940 with a $5,260 deposit. Does this mean Ford Options is costing $74,828 for a Premium RWD LR (10500 mileage)? Maybe I am doing something wrong since the APR was 2.25%. If there was no payoff amount after the 3 years, this seems good, but that payoff seems to drive up the price quite a bit.

 

[macchiaz-o]

I also added up all the numbers on the website and the payoff after 36 months was $23,628, the Total Estimated Amount Financed was $45,940 with a $5,260 deposit. Does this mean Ford Options is costing $74,828 for a Premium RWD LR (10500 mileage)? Maybe I am doing something wrong since the APR was 2.25%. If there was no payoff amount after the 3 years, this seems good, but that payoff seems to drive up the price quite a bit.

The "payoff" is the payment amount on month 36. Months 1-35 are a smaller amount.

Added up, they represent the amount financed plus interest paid to the lender.

It is like a traditional, simple interest loan at 2.25%, with the catch that much of the loan repayment is being deferred to the last month.

 

[Cobra427]

Check out Carvana or one of the other online options for selling your car. It was my first time using an online service to sell a car and I was really impressed. Carvana gave the best price which was thousands more than the dealer offer. They picked up the car, paid off the note and I had cash in my account the next day. Even with a $60 Uber to the dealership, I came out about $4k ahead of the dealer offer.

Thanks for the tip. I checked it out, and the cash offer was only $836 more than dealer trade-in.

 

[yngwenli]

The "payoff" is the payment amount on month 36. Months 1-35 are a smaller amount.

Added up, they represent the amount financed plus interest paid to the lender.

It is like a traditional, simple interest loan at 2.25%, with the catch that much of the loan repayment is being deferred to the last month.

Thanks for clarifying. It doesn't talk about pre-payment anywhere from what I found, but sounds good if you can pre-pay the loan immediately to get the -2500 incentive.

There's still that Dealer in-stock blurb, but good if people can use this.

 

[macchiaz-o]

Thanks for clarifying. It doesn't talk about pre-payment anywhere from what I found, but sounds good if you can pre-pay the loan immediately to get the -2500 incentive.

Yes you can pay it off quickly without penalty. Ford Credit may penalize your dealer if you payoff in the first 3 months though.

 

[Cobra427]

Is the $2500 only available to certain zip codes?

 

[KZ6e1e]

Is the $2500 only available to certain zip codes?

yes
from what i recall its either 2500 or 1000 depending upon where you're at

 

[MargaritavilleNH]

Anyone with 100 or more shares held for at least 6 months is eligible for X Plan. That's how I got my X Plan pin. Here's the link to the form https://s23.q4cdn.com/799033206/files/doc_downloads/Ford-Shareholder-Application-11-5-20.pdf

That fastest way to submit the form is through email. Email the form along with proof of shares. They usually respond within a couple days. If they don't, just send them another email.

Thank you!

 

[rcpd34]

My BS alarm is going off, maybe yours will too…

Stopped by the dealership today to finalize numbers, since our MME is scheduled for production this week. Main agenda item was to get a trade-in value on my wife’s Escape, since we intend to pay cash plus trade-in for the MME. The trade-in offer was not as high as we hoped (no surprise), and I asked what the actual price of the MME would be.

Short flashback — We bought a 2021 F-150 Lariat Powerboost in February from this same dealer, and the sale price was the invoice amount. Our salesman said, “We sell all our vehicles for invoice.” Period. No haggling.

When I asked this same salesman what the invoice price would be for the MME, his response was, “There is no invoice for a MME or a Maverick. Ford tells us we have to sell them for sticker.” I responded that there had to be an invoice, because that is the amount the dealer pays Ford for the car. He repeated the same quote as above, and added, “On most vehicles yes, but these are different for some reason. It’s just the way they’re sold, and that from Ford, not us. My manager doesn’t even know how we’re getting paid from Ford.”

Now, I have seen many posts on this forum describing how dealers are selling MMEs at prices of their choosing, nobody has said anything about Ford setting sale price. This is why the place you buy a car is called a “dealership” The sales guy did say they don’t add ADM to sticker. But then again, he lied to me about selling only for invoice.

Not sure what we are going to do. Right now both of us are about 60% ready to cancel.

My dealer told me the same thing. And I just bought a 2021 F250 and ordered a 2022 F250.

Sponsored