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

[macchiaz-o]

My rate is $85 a month and 24k owed, so mine will be roughly 282 payments?. Doesn’t make sense

It must be set up to be fully paid in 36 months or less. This is in our contract terms. (Read the backside.)

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[corner]

Tried to find someone in the same situation or that’s at the end - I’m coming up on the end of my ford option and cant seem to find any information on how early I can turn the keys over to get into a new ford and satisfy the balloon.

Mach e balloon 24k
Mach e worth 21k

ford site suggest just transferring ownership to ford satisfies the balloon(aside from any mileage, wear and tear issues, and waived fee if getting into new ford)

I am trying to get into an f150 lightning and one dealer wanted to treat it as a lease where I’d owe 3k. Anyone know if the ford option ownership can be transferred before the 36th month? Has anyone experienced it yet or will I be one of the first to go down this road?

Had I applied the tax credit I’d be ahead 3500 but since the option suggest you just turn it over and any net loss is satisfied , felt I didn’t need too.

 

[corner]

Also I’d like to add - another thing I thought about. The ford Mach e qualifies for a 4k tax credit if bought used and sells under 25k…. If you were to stay with the Mach e, wouldn’t it be better to transfer ownership back to ford then rebuy the same vehicle as a used Mach e to get the 4k tax credit(pending rates don’t negate the credit)

 

[ChuckA]

Also I’d like to add - another thing I thought about. The ford Mach e qualifies for a 4k tax credit if bought used and sells under 25k…. If you were to stay with the Mach e, wouldn’t it be better to transfer ownership back to ford then rebuy the same vehicle as a used Mach e to get the 4k tax credit(pending rates don’t negate the credit)

Maybe IRS would frown on allowing both the $7500 and $4000 tax credits on the same vin to the same taxpayer. Sounds like fraud. You’d have to buy a different vehicle, I would guess.

 

[corner]

Maybe IRS would frown on allowing both the $7500 and $4000 tax credits on the same vin to the same taxpayer. Sounds like fraud. You’d have to buy a different vehicle, I would guess.

Well under the new law the credit goes to the dealer and is passed to the consumer via a rebate. When I was pricing the Lightning - the $7500 was going as a rebate as the dealer is getting the payment, the buyer just has to verify they meet the requirements at tax year or they have to pay it back.
By that logic it wouldn’t be tax credits to same taxpayer - rather one to tax payer (due to ford option) and one to dealer. Granted I won’t be getting the Mach e just found it interesting when I was talking to the dealer regarding the new way they are handling the credits.

 

[macchiaz-o]

A bit longer, due to the 2.25% interest that will continue to accrue. Mine will be roughly 26 months to pay $20,855 plus interest at $794.xx per month.

...

I haven't been given this instruction, yet. I need to call them to check status mid-next week though.

I was finally able to reach a credit analyst at Ford Credit who could reschedule my lump sum balloon amount. This happened today, just 5 days away from month 36's payment due date. I made at least 12 calls to Ford Credit since early January. If I'd know that up front, I probably would've just paid the balloon as this was too big of a time sink for me.

The new loan terms are different than what I was originally told but it's equally good if not better. Specific terms apparently vary by locale.

For me, the balloon payment was converted into 36 new payments of $598.45 (payment #36 is slightly less), which is at the same 2.25% rate as my original loan. I have a verbal agreement with Ford Credit and no new paper trail. However, after the analyst completed the loan modification this afternoon, she left me a voicemail and I was able to go to the payments page on ford.com and see the new details.

 

[Anton]

2021 Premium eAWD Job 2
23,520 current miles, anything over 22,636 is an extra $0.25/mi if returning it to Ford.
Ford Options @ 2.49% interest
35 payments of $1,094 (I think the dealer took advantage of me here, lesson learned)
Final balloon payment of $26,220 due on 2/2/2025.

KBB showing private party value of 30k and trade in 26k. Similar cars on Carvana going for 32k.

I also have about 5k in modifications to the car - ppf, ceramic coat, upgraded suspension.

Leaning on keeping the car unless there is a huge incentive to trade it in. We like the car, but ultimately would prefer something bigger given the growing family size.

Anybody have suggestions?

From what I gather in the last few pages of this forum I can contact Ford Credit to refinance the balloon payment within 30 days of the due date.

 

[ridgebackpilot]

2021 Premium eAWD Job 2
23,520 current miles, anything over 22,636 is an extra $0.25/mi if returning it to Ford.
Ford Options @ 2.49% interest
35 payments of $1,094 (I think the dealer took advantage of me here, lesson learned)
Final balloon payment of $26,220 due on 2/2/2025.

KBB showing private party value of 30k and trade in 26k. Similar cars on Carvana going for 32k.

I also have about 5k in modifications to the car - ppf, ceramic coat, upgraded suspension.

Leaning on keeping the car unless there is a huge incentive to trade it in. We like the car, but ultimately would prefer something bigger given the growing family size.

Anybody have suggestions?

From what I gather in the last few pages of this forum I can contact Ford Credit to refinance the balloon payment within 30 days of the due date.

I'm in a similar position: 2022 Mach-E Premium; Ford Options @ 2.49% interest. My contract has another 15 months to go.

My car has 72K miles, which is way past the permissible miles in my Options contract. However, Ford's website says excess mileage charges are not applicable when you trade in on a new Ford.

My dealer told me Ford Credit is currently waiving any negative equity if you trade in on a new Ford. That, coupled with end-of-year incentives, including price discounts and zero-interest financing, has me looking to upgrade to the 2024 MME Premium!

Of course, YMMV, but it may be worth checking with your favorite dealer.

 

[rcechinel]

My dealer told me Ford Credit is currently waiving any negative equity if you trade in on a new Ford. That, coupled with end-of-year incentives, including price discounts and zero-interest financing, has me looking to upgrade to the 2024 MME Premium!

That's tempting, although I have a 2022. In any case, aren't you concerned about Ford's plans for the Mach-E? It's already getting farrrr behind the competition. Unless I see real (re)commitment to the EV line-up, I can't consider a second Mach-E.

 

[luckie]

That's tempting, although I have a 2022. In any case, aren't you concerned about Ford's plans for the Mach-E? It's already getting farrrr behind the competition. Unless I see real (re)commitment to the EV line-up, I can't consider a second Mach-E.

Curious: Which competition in the US market is way ahead? (Unless you mean Tesla?, or non-US market?)

 

[Snakebitten]

Curious: Which competition in the US market is way ahead? (Unless you mean Tesla?, or non-US market?)

I'm curious too.

There are choices today that weren't available 2 or 3 years ago. And I could see someone preferring something that is available today that wasn't those 3 years ago. There are lots of aspects that are in the realm of subjective preferences.

But that's a different view point than "falling way behind" implies.

The 800V architecture is a legitimate EV technology advancement, admittedly. But even that doesn't have as much impact in real world experience than it does on paper. (A small percentage of very specific use-case EV'rs will obviously disagree)

I personally think the Mach-E still more than holds its own in the USA. And the 2024-2025 has an even better value equation purchased new than the early adoption equation was.

Having said all that I absolutely can understand someone wanting to try another flavor just because of the desire for something different. But not because of some kind of obsolescence of the Mach-E.

 

[IgorKl]

brief update: I pinged 3 SF Bay Area dealers. 1 replied that forgiveness amount he can offer is about $2-3K. 2 others are trying to connect with Ford and do not have success for 2nd day.
I contacted Mossy in San Diego and they did not heard about this program at all and were not wiling to talk to Ford.

please post if you have any update.

 

[IgorKl]

I'm curious too.

There are choices today that weren't available 2 or 3 years ago. And I could see someone preferring something that is available today that wasn't those 3 years ago. There are lots of aspects that are in the realm of subjective preferences.

But that's a different view point than "falling way behind" implies.

The 800V architecture is a legitimate EV technology advancement, admittedly. But even that doesn't have as much impact in real world experience than it does on paper. (A small percentage of very specific use-case EV'rs will obviously disagree)

I personally think the Mach-E still more than holds its own in the USA. And the 2024-2025 has an even better value equation purchased new than the early adoption equation was.

Having said all that I absolutely can understand someone wanting to try another flavor just because of the desire for something different. But not because of some kind of obsolescence of the Mach-E.

800v architecture does matter at CCS 350kW charging stations, as far as I remember 800V architecture limited to 100-135kWh at Tesla SCs (at least V3)

 

[luckie]

800v architecture does matter at CCS 350kW charging stations, as far as I remember 800V architecture limited to 100-135kWh at Tesla SCs (at least V3)

Right. If we think about EVs (cars/crossovers in a similar $ range) in the US market comparable to the Mach-e, what do we have:

1. Tesla 3 & Y
2. VW ID.4
3. Polestar 2
4. Hyundai IONIQ 5
5. Kia EV6
6. GM Equinox, Blazer, Lyriq
7. Dodge Charger EV?

If you ignore the $ range, Lucid too, if you ignore $ range & form factor Rivian too? Guess if you just throw in any truck, GM has those too.

You can point to the eGMP platform as more advanced 800V architecture, but been that way since the beginning, not a new development.

You definitely can point to Lucid's ($100k? level) incredible efficiency in terms of mi/kWh, and Rivian vehicles ($80k? level) are great but more dollars and might suddenly go out of business.

 

[voxel]

Right. If we think about EVs (cars/crossovers in a similar $ range) in the US market comparable to the Mach-e, what do we have:

1. Tesla 3 & Y
2. VW ID.4
3. Polestar 2
4. Hyundai IONIQ 5
5. Kia EV6
6. GM Equinox, Blazer, Lyriq
7. Dodge Charger EV?

If you ignore the $ range, Lucid too, if you ignore $ range & form factor Rivian too? Guess if you just throw in any truck, GM has those too.

You can point to the eGMP platform as more advanced 800V architecture, but been that way since the beginning, not a new development.

You definitely can point to Lucid's ($100k? level) incredible efficiency in terms of mi/kWh, and Rivian vehicles ($80k? level) are great but more dollars and might suddenly go out of business.

Kia EV6 GT, Ioniq 5 N, GV60 Performance, BMW i4, BMW i5, Blazer SS, Model 3 Perf, Lucid Pure, EQE, RZ 450e, Ariya. If you move up a little or lease…. Audi etron GT, Taycan, i4 M50, Model S, Lucid GT, EQS, iX, i7, Q6/Q8 etron.

Polestar 3, EX90, R1S, EV9, Model X, ID.Buzz are in their own 3-row class.

There are so many options now. If I wanted a cheapish lease EV I’d probably pick an Ioniq 5, RZ 450, or iX.

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