Desperate for help with dealership - Ford Options Plan

[C_P]

Here is the agreement they are trying to have me sign

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[HuntingPudel]

That’s pretty obviously a lease agreement and not a loan document. Seems like they don’t know what they’re doing.

 

[hybrid2bev]

Here is the agreement they are trying to have me sign

Not sure why you would need that it's not a lease. Tell the dealer the lien holder should be the same as if it's a normal retail sale.

Here's mine.

Bottom of the contract:

 

[C_P]

I just had the title application in front of me and the applicant name was the leasing company, with my name as the renewal contact. As i understand it this is incorrect. Any insight here?

 

[hybrid2bev]

I just had the title application in front of me and the applicant name was the leasing company, with my name as the renewal contact. As i understand it this is incorrect. Any insight here?

No leasing company. See my prior post. Tell the dealer to print out the forms as if it’s a normal retail sale, not a lease.

 

[NmbrsNvrLie]

I just sent OP a copy of my contract. That’s Ford lease contract (not Ford Options). The Ford Options contract clearly just shows it’s an installment sale contract. I’ve now done 2 of these and both looked the same.

 

[Rfehl62]

Our Mach-E finally came in. Dealer called, I completed the online credit app, selected Ford Options plan, picked down payment, etc. I was happy and expected to just come into the dealership, sign what I agreed to and be on my way. I spent 4 hours at the dealer today and they just seemed to be jerking me around:

1. They don't show my $500 deposit and said "you have to get that back from Ford"
2. They did all the paperwork and then when they asked me to sign there was a $645 acquisition fee (not supposed to have that with Ford Options).
3. The name of the finance company is CABT LLC - Not Ford Credit - is this a problem?
4. They insist it is Ford Options but I really believe they are trying to put me into a regular lease.

They INSIST they are offering me the Ford Options plan, but it doesn't smell right. They also told me to just sign (the document with the acquisition fee) but "you wont pay it" and it "just looks different on our paperwork". BS I am NOT signing something I don't agree to.

I left and told them I would come back tomorrow.
Ford Credit phone number is not accepting any more calls today.
HELP! Anyone have some experience with this?

Dealership is Autonation Ford in Katy, TX

It sounds like they just do not know how to do Ford Options. I work at a dealership myself and can say from experience that Ford is horrible when it comes to directions on how to execute the various finance options. That is of course NO excuse but, I would just give them a day or so to get it lined out. I am sure there is nothing nefarious or shady going on, just slight ignorance on the dealers part. My dealership has never done an options plan so I know I will more than likely run into the same situation. Lastly, that $1,000 is not a private offer. It is a customer cash rebate that everyone who does the options plan gets. Hopefully you are able to get into your Mach-E soon!

 

[RickMachE]

It said when a dealer is so clueless.

My son bought a vehicle via Ford A-Plan, in California, using his Michigan residency (and getting Michigan's lease rebates). The dealership in California was clueless about A-Plan, and had no idea how to do the Michigan rebates and sales tax. Phone calls with Ford Credit, lots of "he's a kid so let's work on other deals", and me on the phone with him and the dealership over 6 hours on a Saturday. Ultimately we got a Ford Credit Manager involved who told the dealership what to do, and told them she'd fix anything that needed fixing on Monday.

I told my son he should have got the car in Michigan and had it shipped by his new employer to California...

 

[jonkMACHE]

This is a great thread. Thank you to those who were willing to post their contracts so I have something to show the dealer in case they are clueless about how Ford Options works.

Question:

I have a 2022 ME on order... I would like to have the financing ironed out on the day the car arrives so there is no nonsense when I am ready to pick it up. Is there a way to call Ford Credit directly and iron our the FO financing myself, then walk into the dealership with a financing option ready to go?

Thanks!

 

[macchiaz-o]

I have a 2022 ME on order... I would like to have the financing ironed out on the day the car arrives so there is no nonsense when I am ready to pick it up. Is there a way to call Ford Credit directly and iron our the FO financing myself, then walk into the dealership with a financing option ready to go?

No. Ford Credit doesn't sell directly to retail consumers. To get a loan from them you must go through a dealership.

But you could try to work out some details in advance through your salesperson. For example, I emailed mine to let her know that I'd very likely be interested in Ford Options and she responded with a rough quote of the costs for that approach. (Ford provides an Excel spreadsheet for Ford Options to the sales teams that gives them a way to do rough estimates.)

 

[RickMachE]

Is there a way to call Ford Credit directly and iron our the FO financing myself, then walk into the dealership with a financing option ready to go?

Thanks!

No, there is not. Even if you have connections with Ford Credit this won't happen.

However, you can APPLY for credit online with Ford Credit ahead of time, and be approved.

 

[macchiaz-o]

However, you can APPLY for credit online with Ford Credit ahead of time, and be approved.

I'm not sure there's any benefit to doing this, unless you think you're at risk of being declined?

There are good reasons to not do this. It could be a hard hit on your credit report and Ford Credit needs to assess your credit risk within a few weeks of your loan origination, not a few months earlier.

 

[BMT1071]

This is a great thread. Thank you to those who were willing to post their contracts so I have something to show the dealer in case they are clueless about how Ford Options works.

Question:

I have a 2022 ME on order... I would like to have the financing ironed out on the day the car arrives so there is no nonsense when I am ready to pick it up. Is there a way to call Ford Credit directly and iron our the FO financing myself, then walk into the dealership with a financing option ready to go?

Thanks!

I'm not sure if it's available everywhere, but the online checkout option worked great for me. I filled everything out at home and chose 'sign at dealer' . All I had to do in the finance office was read everything over and sign on the line. Well, a bunch of lines. ??

 

[RickMachE]

I'm not sure there's any benefit to doing this, unless you think you're at risk of being declined?

There are good reasons to not do this. It could be a hard hit on your credit report and Ford Credit needs to assess your credit risk within a few weeks of your loan origination, not a few months earlier.

I guess I figured that the questioner knew not to do this until say 48 hours prior.

 

[spanky99L]

This is a great thread. Thank you to those who were willing to post their contracts so I have something to show the dealer in case they are clueless about how Ford Options works.

Question:

I have a 2022 ME on order... I would like to have the financing ironed out on the day the car arrives so there is no nonsense when I am ready to pick it up. Is there a way to call Ford Credit directly and iron our the FO financing myself, then walk into the dealership with a financing option ready to go?

Thanks!

No. No one knows what the rates/incentives will be when you actually are buying the vehicle at thew dealership.

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