"Ford Options" Mach-E Lease vs standard lease - similarities and differences

[Bryan_GTPE]

I just did options and was able to get the 1.4% rate on the GT plus 1k bonus cash. The dealer had not done many, but to their credit they called at least 5 people to make sure they got it right and got me what I wanted. I was very happy and it’s a great deal since I get the 7500 tax credit and can decide in 48 months if I want to keep or upgrade. I know rates vary based on model and you may be able to find a better rate for a traditional finance plan, but I do like the fact that Options is done thru Ford Motor Credit and I have always had good experiences with them in the past.

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[Rudy Bega]

I just did options and was able to get the 1.4% rate on the GT plus 1k bonus cash. The dealer had not done many, but to their credit they called at least 5 people to make sure they got it right and got me what I wanted. I was very happy and it’s a great deal since I get the 7500 tax credit and can decide in 48 months if I want to keep or upgrade. I know rates vary based on model and you may be able to find a better rate for a traditional finance plan, but I do like the fact that Options is done thru Ford Motor Credit and I have always had good experiences with them in the past.

Who does the Dealer call if they need help from Ford Motor Credit with Ford Options? Can anyone provide an actual number? Closing within a week, want to be ready. Thanks

 

[hybrid2bev]

Who does the Dealer call if they need help from Ford Motor Credit with Ford Options? Can anyone provide an actual number? Closing within a week, want to be ready. Thanks

The dealer would call their assigned Ford Credit dealer representative (BDM).

 

[Dancefreak]

But getting the full $7,500 - California's $2,000 EV rebate and Ford Options $2,500 that cancels out the interest (or puts you ahead if you get a GT with 1.4% rate), I think Options is still the better choice 100%. Especially since you can't get even get a maintenance package, which sometimes makes sense on a lease because you're not paying the full amount of it.

You get the CA 2K if you lease as well. (But it's only once per person lifetime as of 2019). That said, I think options still makes more sense with the bonus cash combined with better interest rate.

 

[YFD_233]

What is the criteria for getting the full 7500 rebate

 

[macchiaz-o]

What is the criteria for getting the full 7500 rebate

You must be the original titled party, meaning you have purchased or gotten a retail loan as the first buyer of the vehicle. And you need to have at least $7,500 in federal tax liability in the year of your purchase.

 

[KZ6e1e]

The cutoff was Dec 3, 2019…so if you leased earlier that year, you might be still be eligible.

Also the max income changes in a couple weeks…


Income Cap for Higher-Income Consumers

• The maximum income eligibility levels to qualify for a rebate are as follows:
  • $135,000 for single filers (previously $150,000)
  • $175,000 for head-of-household filers (previously $204,000)
  • $200,000 for joint filers (previously $300,000)

I think the other looming issue is MME is classified as small station wagon w/MSRP Cap of $45K. Unless that changed.

 

[YFD_233]

You must be the original titled party, meaning you have purchased or gotten a retail loan as the first buyer of the vehicle. And you need to have at least $7,500 in federal tax liability in the year of your purchase.

sorry I’m a bit dumb when it comes to this. Do you mean I would have to have paid the government at least $7500 in fed taxes?

 

[Maquis]

sorry I’m a bit dumb when it comes to this. Do you mean I would have to have paid the government at least $7500 in fed taxes?

Total tax owed, whether or not you’ve paid it in withholding. Form 1040, line 24 (I think).

 

[KZ6e1e]

Its weird because I can't even find mention of the current $60k cap? It just lists the MME as fully eligible and doesn't mention MSRP when looking under "Vehicle Eligibility."

Part of the 2019 changes it looks like.
https://insideevs.com/news/382176/california-amends-cvrp-rebate-program/

 

[YFD_233]

Total tax owed, whether or not you’ve paid it in withholding. Form 1040, line 24 (I think).

Ok hold on. Are we saying the fed taxes from my paycheck to reach $7500 in a year?

 

[Maquis]

Ok hold on. Are we saying the fed taxes from my paycheck to reach $7500 in a year?

Your total taxes owed the feds must be at least $7500.
Im not sure what you mean by “taxes from my paycheck”?

 

[macchiaz-o]

Ok hold on. Are we saying the fed taxes from my paycheck to reach $7500 in a year?

No... I think for most people, you would look at your "total tax" shown on line 24 of Form 1040 for tax years 2020 and 2021 to see examples of this.

It's the year's *total of taxes* you owe to the IRS... For the entire year, including any amounts you've already paid to them (for example via paycheck deductions), plus any amount you owe but haven't paid to them yet.

 

[YFD_233]

No... I think for most people, you would look at your "total tax" shown on line 24 of Form 1040 for tax years 2020 and 2021 to see examples of this.

It's the year's *total of taxes* you owe to the IRS... For the entire year, including any amounts you've already paid to them (for example via paycheck deductions), plus any amount you owe but haven't paid to them yet.

So what happens if I am due a return?

 

[YFD_233]

Your total taxes owed the feds must be at least $7500.
Im not sure what you mean by “taxes from my paycheck”?

So what happens if the fed owes you at the end of the year ?

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