0% financing no longer available?

[generaltso]

Just be aware that if you pay off the option loan you will probably lose the ability to turn back car after the 3/4 year option

Not probably, you definitely will. But realistically, the car will likely be worth more than the balloon payment when the time comes, so selling or trading (or keeping) will probably make more sense anyway.

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[kennethjk]

Not probably, you definitely will. But realistically, the car will likely be worth more than the balloon payment when the time comes, so selling or trading (or keeping) will probably make more sense anyway.

Maybe but with advances in technology in 3 years nothing is certain about the value of this car

hope you’re right

 

[generaltso]

Maybe but with advances in technology in 3 years nothing is certain about the value of this car

hope you’re right

Yup, nothing is guaranteed.

 

[yngwenli]

Just be aware that if you pay off the option loan you will probably lose the ability to turn back car after the 3/4 year option

Yeah, my plan was to originally just buy it outright so there was never an option to turn the car back in anyways. I just don't want the dealer to get dinged for anything was all (and OK with paying a little interest). To me, that makes me think the 7500 miles and 4 year options will keep the interest at the least amount after 3 months.

That and planning to just drive/own it till it dies like all my previous cars puts any future technology discussions on the backburner until the next new car.

 

[cjrodriguez31]

My rate for the GT was 1.4% bs the premium 2.79% i believe. I ordered mine in June and locked it in with the $2,500 credit. Tasca Ford honored the $2,500 and the 1.4%. I never saw 0% though but again i never checked in December as i got my car the third of December.

 

[Lyle]

I wish I had taken a screenshot but it's no longer advertised anywhere. I remember the expiry date because I had multiple discussions with my dealer when asking them for when the car will be delivered and whether it will be before 1/3 to get these rates.

Hi! Last week my dealer said that I was eligible for 0% for three year as that is what was available when I ordered the car on 6/3/21.

 

[Mosworthy]

The offer on my Premium AWD standard range in Canada was .99% for 72months. It wasn't at the dealer yet. I got the bill of sale signed at that rate.
They couldn't back out
When the car got to the lot two weeks later, best rate available was 4.25%
They didn't even try to work me

 

[Mawby]

The offer on my Premium AWD standard range in Canada was .99% for 72months. It wasn't at the dealer yet. I got the bill of sale signed at that rate.
They couldn't back out
When the car got to the lot two weeks later, best rate available was 4.25%
They didn't even try to work me

Exactly. Ford credit told me online contract, estimated rate 2.49%. Dealer comes back and says "4.94%" -- I say hogwash. They say well you can walk as we have 5 people eager to take this deal. I say, fine, I will just refi. I may pay it all off instead. It rides that nice.

 

[MMXX500]

Dealers used to have to lock in incentives on each order through "Smart Vincent" using the incentive protection program, it was only really done if requested or if the dealer took it upon themselves to lock.

Incentives are locked in automatically now for each order when the order is placed with the customer information. At delivery/contract, the customer has the choice of the locked in incentives that were available at the time of order or the current incentives - whichever is better.

If the dealership says the incentives from time of order are not available it is because they are choosing not to apply them, also as others have said here - if the contract rate is greater than the incentivized rate the customer qualifies for it is because the dealer has chosen to mark up the rate and earn a "reserve" payment.

Dealers will come up with many different ways to tell customers not to pay off the car within 90 days because if it is paid off within the 90 days the dealer will not earn the "reserve" on the marked up buy rate and will instead be paid a "flat" fee for the contract - usually 1% of the amount financed but in Ford Credits case the Flat fee is a very small amount paid that is substantially less than the 1% other banks pay.

I usually let the contract ride and wait 90 days before I pay off the car when the dealer takes care of me, even if I intended to pay cash I'll let them contract me at a reasonably marked up rate so they can earn their living. However if the dealership is being shady and lies about anything to do with the sale I would let them go through the hassle of preparing the finance contract, sending it in to the bank and booking out their deal expecting the reserve - then I would pay it off early! - "An eye for an eye. ( I've only had to do that once in 20 years! )

A few years ago Ford dealers were warned by Ford Credit not to instruct customers to wait 90 days before paying the loan off because of the amount of calls and complaints Ford received.

Edit* The Flat fee is paid when the contract is written at buy rate/incentivized rate, the dealer will make nothing if the loan is paid off within 90 days.

 

[Mawby]

Dealers used to have to lock in incentives on each order through "Smart Vincent" using the incentive protection program, it was only really done if requested or if the dealer took it upon themselves to lock.

Incentives are locked in automatically now for each order when the order is placed with the customer information. At delivery/contract, the customer has the choice of the locked in incentives that were available at the time of order or the current incentives - whichever is better.

If the dealership says the incentives from time of order are not available it is because they are choosing not to apply them, also as others have said here - if the contract rate is greater than the incentivized rate the customer qualifies for it is because the dealer has chosen to mark up the rate and earn a "reserve" payment.

Dealers will come up with many different ways to tell customers not to pay off the car within 90 days because if it is paid off within the 90 days the dealer will not earn the "reserve" on the marked up buy rate and will instead be paid a "flat" fee for the contract - usually 1% of the amount financed but in Ford Credits case the Flat fee is a very small amount paid that is substantially less than the 1% other banks pay.

I usually let the contract ride and wait 90 days before I pay off the car when the dealer takes care of me, even if I intended to pay cash I'll let them contract me at a reasonably marked up rate so they can earn their living. However if the dealership is being shady and lies about anything to do with the sale I would let them go through the hassle of preparing the finance contract, sending it in to the bank and booking out their deal expecting the reserve - then I would pay it off early! - "An eye for an eye. ( I've only had to do that once in 20 years! )

A few years ago Ford dealers were warned by Ford Credit not to instruct customers to wait 90 days before paying the loan off because of the amount of calls and complaints Ford received.

Edit* The Flat fee is paid when the contract is written at buy rate/incentive rate, the dealer will make nothing if the loan is paid off within 90 days.

Thanks for the solid explanation. Totally makes sense and re-enforces the hogwash story of " keep the loan" until you get your tax credit (totally not related as the title is and will still be in my name, lien or not) question is, you saying by signing the contract with Ford Options the dealer made a flat rate and they will be paid some smaller amount regardless if I pay the loan or refi after 1 month (waiting for the statement)?

 

[MMXX500]

Thanks for the solid explanation. Totally makes sense and re-enforces the hogwash story of " keep the loan" until you get your tax credit (totally not related as the title is and will still be in my name, lien or not) question is, you saying by signing the contract with Ford Options the dealer made a flat rate and they will be paid some smaller amount regardless if I pay the loan or refi after 1 month (waiting for the statement)?

Yep I realized my mistake after I read it back! If you pay off the loan or refi within the 90 days the dealer will make $0 on the loan amount. They only get paid the flat fee if the contract is written at buy rate/incentivized rate and the loan is in place for over 90 days.

 

[MMXX500]

1 more thing to add, you don't need to wait for the first statement and accrue more interest charges - you can pay it off as soon as the loan is in Fords system and you have an account number. You can call go online or call Ford Credit at 1-800-727-7000 and they can assist without the statement in hand.

Usually will be about a week between the signing and being in the system, that should give the dealer plenty of time to get everything squared away with Ford. I believe its all E-contracted now anyway so it should be even sooner.

You may have to wait for the DMV part to clear and receiving the registration before being able to refi though.

 

[Mawby]

1 more thing to add, you don't need to wait for the first statement and accrue more interest charges - you can pay it off as soon as the loan is in Fords system and you have an account number. You can call go online or call Ford Credit at 1-800-727-7000 and they can assist without the statement in hand.

Usually will be about a week between the signing and being in the system, that should give the dealer plenty of time to get everything squared away with Ford. I believe its all E-contracted now anyway so it should be even sooner.

You may have to wait for the DMV part to clear and receiving the registration before being able to refi though.

I see. I had planned on getting a vinyl front legal license plate until the dealer demanded to install the plate and 2 holes in front afterall... and now I will get black plates but can't figure out how to get them first vs the automatic plates sent after purchase. So I wait to see what they are, then get black ones after... probably better that way. (Delays on special plates in California)

 

[oadesign]

The best Ford Options Tier 0/1 rate only changed from 2.25% to 2.49% on the 2021’s (non-GTs).

Do you know how high a credit score or range qualifies for tier 0/1?

 

[Mawby]

Do you know how high a credit score or range qualifies for tier 0/1?

Didn't matter with me. Dealer still bumped it higher 2x depite my credit score being 780+

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