Navigating dealership ineptitude concerning ford options

[Zatara]

Hey guys, I’m purchasing a GT PE in Northern Virginia. Order came in last Friday, I tried to purchase it Sunday but they said they didn’t understand ford options, more bullshit today, and it’ll get detailed below but I don’t wanna dump before I get to the point.

Current shituation is that the dealership is suggesting that the ford options plan is 2.79% based on rates I locked in when I ordered (December). But the monthly payment with nothing down (x plan discount) is like $1308. While traditional financing would be $1200.

They called me a little while ago and said that because they have the residual at 43% when it should be 42% they would need another day to figure it out.

My question is this: how is the options plan more expensive a month than a traditional 5 year? I thought comparisons showed it was cheaper per month? What factors could they be deliberately fucking up to make this happen? What questions should I be asking regarding the way they are formulating this to get to the bottom of why the payment is higher?
Or am I mistaken and that’s accurate?
I can put down whatever is needed I just don’t get it.
It’s like they are hoping I give up but that doesn’t make much sense because they know they can’t touch my traditional financing.

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[FamDocDon]

Ford has not done their job of educating dealers on the Options plan. Additionally, Options is not part of the standard Ford Credit software that dealers are using to calculate deals. They seem to have to use a separate system for their calculations, etc.

We picked up our GTPE on Friday and I lost count of how many times I had to correct them. They are giving you the right rate, 2.79 for Options as of December. That's what we got as well after several rounds of "No, 3.9 is not the correct rate. Please go back and check Smart Vincent." Then it was back and forth on the Options incentive.

Lastly...We were trading a 2019 Mercedes plug in hybrid, for which they offered a very good price which also gave us tax benefits, but we went through several iterations after they realized Options caps the down payment/trade in credit based on the MSRP.

All told it was a 4 hour process. Fortunately, no one lost their cool or patience and we drove away happy customers having gotten X-plan pricing, etc. But, I'm sure for many non-customer oriented dealers, they feel the hassle is more than it's worth.

 

[hybrid2bev]

Ford has not done their job of educating dealers on the Options plan.

Ah, no it’s not Ford’s fault. The Ford Options training and program rules have been readily available to the dealers for over a year and a half now.

You can lead a dealer to training, but you can’t make them actually read it.

 

[ridgebackpilot]

When I purchased my loaded GTPE last week, the dealer had never done a Ford Options contract before. But they were familiar with e-contracting, which is about the only prerequisite. The Finance Manager promised to work with his Ford Credit representative ahead of time to learn about Ford Options.

Before I got there, I spoke with the Finance Manager several times and told him exactly what I wanted: No ADM, X-Plan pricing, Ford Options rebate for my ZIP code ($2,500), $15K downpayment, and 48 months @10K miles per year. Those prep calls paid off; when I got to the dealership there were no surprises and it was a very pleasant experience. The salesman even told me, "I wish all my customers were as knowledgeable and well-prepared as you are!"

I used the online calculator posted elsewhere here to estimate my total cost and monthly payments. The dealer's math actually came in lower than my estimate: $800 per month. @Zatara if you want to lower your monthly payment, your best bet would be to put as much $$$ down as possible.

The only thing I didn't get was the Ford Options interest rate that applied when the vehicle was special ordered in December 2021. That's because I adopted the order, so I didn't get the benefit of the interest rates that applied at the time. Fair enough; I could live with that!

 

[Parasmoney]

When I picked up my MME premium AWD ext range a few weeks ago, I was going in looking to get Ford options plan. Somehow, the dealer said they could give me 0% for 36 months or 1.9 for 48 months through Ford finance vs getting Ford options. No where have I seen 0% for 36 months but if it makes sense financially for you, try asking your finance guy to see if they have 0% available in your area. I'm from Philly area and am not sure how targeted the 0% was.

 

[connoisseurr]

@Zatara What dealer in Northern VA?

 

[ChuckA]

When I picked up my MME premium AWD ext range a few weeks ago, I was going in looking to get Ford options plan. Somehow, the dealer said they could give me 0% for 36 months or 1.9 for 48 months through Ford finance vs getting Ford options. No where have I seen 0% for 36 months but if it makes sense financially for you, try asking your finance guy to see if they have 0% available in your area. I'm from Philly area and am not sure how targeted the 0% was.

0% for 36 months is a traditional finance plan. $70k divided by 36 is a massive monthly payment, $1944.

With Ford Options there’s a rebate and the monthly payment under $1000, with a balloon. It’s a case of pay them now or pay them later. You can always finance the balloon later.

 

[Parasmoney]

0% for 36 months is a traditional finance plan. $70k divided by 36 is a massive monthly payment, $1944.

With Ford Options there’s a rebate and the monthly payment under $1000, with a balloon. It’s a case of pay them now or pay them later. You can always finance the balloon later.

Oh ok. I wasn't aware that traditional finance is always 0%. Like I said no where have I found 0%. But I did also state that if it financially makes sense and you get 0%, it might be worth it vs paying 2.7% interest.

 

[ChuckA]

In August 2021 when I bought my MME, my dealer didn’t know how to do Ford Options. I was their 1st. The finance manager spent 2 hours on the phone with Ford Credit being walked through the inputs to the computer program.

 

[ChuckA]

Oh ok. I wasn't aware that traditional finance is always 0%. Like I said no where have I found 0%. But I did also state that if it financially makes sense and you get 0%, it might be worth it vs paying 2.7% interest.

I’m not saying that. What I’m saying is that if Ford is offering 0% for 36, or 1.9% for 48, it’s a traditional finance at a program interest rate.

If you can afford and get approved for a larger payment then it makes financial sense.

 

[ChuckA]

Oh ok. I wasn't aware that traditional finance is always 0%. Like I said no where have I found 0%. But I did also state that if it financially makes sense and you get 0%, it might be worth it vs paying 2.7% interest.

Also, $1900 payment vs $900 payment would be a big difference in my circumstances. I didn’t care that my interest rate was 2.25% (last August). It made no difference to me.

 

[MustThee?]

In August 2021 when I bought my MME, my dealer didn’t know how to do Ford Options. I was their 1st. The finance manager spent 2 hours on the phone with Ford Credit being walked through the inputs to the computer program.

I bought in June 2021, I had no idea about Options and the dealer said nothing. Now that I know, I asked them this earlier this year and they still don’t know, at least the sales person. This time I will push the finance person.

 

[ChuckA]

I bought in June 2021, I had no idea about Options and the dealer said nothing. Now that I know, I asked them this earlier this year and they still don’t know, at least the sales person. This time I will push the finance person.

Dealership owner tried to tell me that a lease would be financially better. Being able to walk at 36 months, and get the tax credit, is what I wanted.

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