Help! Need Confirmation on Dealership Ford Options Pricing!

[slaydemon]

Hello All!

I wanted to get some clarification on pricing that my dealership is giving me.
My Mach-E finally arrived today (Ordered Oct 1st 2021), its GTPE edition.
Looking to do Ford Options, 12,000 miles/yr, 36 months.

MSRP @ order time: $69,495 (includes destination)
X-Plan Pricing: subtract 2%
Deposit Placed During Order: $1,000
Regional Ford Options Incentive: $2,500 previously, now $2,000?
Down Payment To Be Placed: $15,000
APR Rate: 1.4% on GTPE
NJ EV State Sales Tax: Exempt, $0

ATTACHED DEALERSHIP QUOTE.

My dealership is asking me for 36 payments of $666/month (i think it should be around $590-$600 according to the calculator), couple things:

• Looks like they are not taking into account the $1,000 deposit I made already in Oct 2021
• Also not taking into account my grandfathered MSRP Price… the “-1,294” i’m assuming is only the X-Plan discount.
• My Regional Incentive (NJ) at time of order was $2500, now its only $2000… is this also grandfathered from Oct 2021 or do I go along with the current regional incentive?
• It should be 36 or 35 payments of $666? At the top of the quote it states 36, but I thought the balloon payment is the 36th payment?

Would appreciate any input. Thanks!

Sponsored

 

[RickMachE]

X-Plan pricing subtracts 2% and then adds $275. Based on your original MSRP, that would be $1,114.90.

36 payments, then balloon I believe.

 

[hybrid2bev]

Hello All!

I wanted to get some clarification on pricing that my dealership is giving me.
My Mach-E finally arrived today (Ordered Oct 1st 2021), its GTPE edition.
Looking to do Ford Options, 12,000 miles/yr, 36 months.

MSRP @ order time: $69,495 (includes destination)
X-Plan Pricing: subtract 2%
Deposit Placed During Order: $1,000
Regional Ford Options Incentive: $2,000
Down Payment To Be Placed: $15,000
APR Rate: 1.4% on GTPE
NJ EV State Sales Tax: Exempt, $0

ATTACHED DEALERSHIP QUOTE.

My dealership is asking me for 36 payments of $666/month (i think it should be around $590-$600 according to the calculator), couple things:

• Looks like they are not taking into account the $1,000 deposit I made already in Oct 2021
• Also not taking into account my grandfathered MSRP Price… the “-1,294” i’m assuming is only the X-Plan discount.
• My Regional Incentive (NJ) at time of order was $2500, now its only $2000… is this also grandfathered from Oct 2021 or do I go along with the current regional incentive?
• It should be 36 or 35 payments of $666? At the top of the quote it states 36, but I thought the balloon payment is the 36th payment?

Would appreciate any input. Thanks!

This looks like a traditional lease worksheet. That may be a limitation of the dealers' system. But the payment schedule for 36 month Ford Options should be 35 payments + 1.

Make sure it's a retail installment contract before you sign it. If it says "Lease" anywhere on it then don't sign it.

Here is my example for 48 month Options payment schedule. (47+1 = 48)

Make sure the registration lists you as the owner and NOT CAB EAST or CAB WEST. It should not list you as a 'lessee'.

It should NOT be like this for registered owner showing:
CAB EAST LLC LSR
YOUR NAME LSE
YOUR ADRESSS

The contract should have this type of payment structure and the Balloon Contract Provisions box checked or a signed Balloon Note Addendum.

 

[Nklem]

That's different than any Options calculation I have seen but things may have changed. I did it twice in 2021.

It seems like a standard Lease. Are you sure they are not putting you in to a lease?

So I do it the old fashioned way as a 6 year loan @1.4% with Balloon as payment 36. I get $50,105 financed (69,495*.98-1000-2000-15000) (I think you have a few penny's more for registration doc fees ) as the out to the door after everything and get an approximate Options payment of $725.95 with a residual of $25,578.32 (+/- the mileage correction that Ford does which can make a slight difference). Again mine is off the cuff and the quick way. Sorry I cannot be more help. Options 48 would be $626.54 with $22075.76 Residual. (again +/-).

Interesting based on the $50105,
The Total cost of my 36 above is $50,986.57 Pretty much interest Free.
The total cost of my 48 Above is $51,523.14.
The total cost of the dealers "Options" is sum of payments plus residual is $56,634.39...Hmm.

 

[Dancefreak]

You should get the incentives from time of order since they were better

 

[yngwenli]

Did they just run your credit for Ford Options or do they need tax/income statements?

 

[slaydemon]

You should get the incentives from time of order since they were better

I would like that but Im not sure if anyone here has been able to grandfather their incentives from their order date instead of being stuck with the incentives at time of pickup?

 

[slaydemon]

Did they just run your credit for Ford Options or do they need tax/income statements?

Not sure yet still in prelim process, likely just credit app but will update the thread on my purchase experience after everythings done.

 

[RickMachE]

Did they just run your credit for Ford Options or do they need tax/income statements?

Ford Credit takes a loan application, and runs your credit through at least one bureau. That's it, nothing more.

 

[Dancefreak]

I would like that but Im not sure if anyone here has been able to grandfather their incentives from their order date instead of being stuck with the incentives at time of pickup?

I think it's come up quite a few times. Someone in this thread was able to take time of order incentives... https://www.macheforum.com/site/threads/question-about-incentives.15672/#post-375358

 

[slaydemon]

Thanks for the help everyone so far.
So if my math is correct, this is the approximate #s i made:

$69,495 MSRP (includes $1,100 destination)
+ $814 (dealer fees listed in attached file)
- $1,389 (2% X-Plan discount on MSRP)
- $2,500 (Ford Options Regional Incentive @ time of order: Oct 2021)
- $1,000 (Order Deposit)
- $15,000 (Down Payment)

= $50,419 remaining

$50,419 - Balloon Payment ($69,495 MSRP * 45% Residual)

= $19, 146

$19, 146 + 1.4% APR

= $19,912

$19,912 / 35 Monthly Payments

Comes to $568/month x 35 months + $31,272 (Balloon)

 

[Nklem]

Thanks for the help everyone so far.
So if my math is correct, this is the approximate #s i made:

$69,495 MSRP (includes $1,100 destination)
+ $814 (dealer fees listed in attached file)
- $1,389 (2% X-Plan discount on MSRP)
- $2,500 (Ford Options Regional Incentive @ time of order: Oct 2021)
- $1,000 (Order Deposit)
- $15,000 (Down Payment)

= $50,419 remaining

$50,419 - Balloon Payment ($69,495 MSRP * 45% Residual)

= $19, 146

$19, 146 + 1.4% APR

= $19,912

$19,912 / 35 Monthly Payments

Comes to $568/month x 35 months + $31,272 (Balloon)

Your interest is compounded annually on the loan….for Ford Options until Payment 36, payment 36 is the balloon which is (was) the remaining principle balance on the note. So $1500-1600 in overall interest and $25K residual. What you are showing here is something different with a true percentage residual.

Both of mine were straight Options just about exactly what your value is (actually a little less) and were calculated as follows: essentially Options 36 WAS a 72 month loan (plus a mileage adjustment that if you buy it at the end does not cost you any more or less, but protects Ford for loss in value more for over 12K and less for under 12K) and the final payment was the remaining balance at payment 36. Options 48 WAS a 84 month loan......same thing with remaining balance at payment 48.

Maybe Options has evolved from 2021 and if it has, please let me know so I do not do this any longer. It used to be so easy!

 

[RickMachE]

Apparently you didn't read my post about X-plan.

Add $275....

 

[hybrid2bev]

Thanks for the help everyone so far.
So if my math is correct, this is the approximate #s i made:

$69,495 MSRP (includes $1,100 destination)
+ $814 (dealer fees listed in attached file)
- $1,389 (2% X-Plan discount on MSRP)
- $2,500 (Ford Options Regional Incentive @ time of order: Oct 2021)
- $1,000 (Order Deposit)
- $15,000 (Down Payment)

= $50,419 remaining

$50,419 - Balloon Payment ($69,495 MSRP * 45% Residual)

= $19, 146

$19, 146 + 1.4% APR

= $19,912

$19,912 / 35 Monthly Payments

Comes to $568/month x 35 months + $31,272 (Balloon)

Close but interest is compounded daily and includes the whole amount financed (including the balloon).
Try this calculator with your figures.

https://www.macheforum.com/site/threads/poll-ford-options-vs-finance.2883/post-92089

 

[slaydemon]

Apparently you didn't read my post about X-plan.

Add $275....

my bad forgot to add.

Sponsored